Paris Hilton's Potential Fortune is Going to Charity
In recent news reports posted by Yahoo! omg! and Reuters, the hotel heiress Paris Hilton might be left without the billions everyone thought she and her family was going to receive. This will surely have all of the media and gossipers talking and discussing for weeks and months to come.
Barron Hilton Will Donate 97% Of His Wealth
Barron Hilton, grandfather of Paris Hilton announced plans on Wednesday to donate 97% of his fortune to charity. Because of this adjustment the hotel heiress Paris Hilton may be left with perhaps 3% or nothing at all.
What Paris Has To Say
Paris Hilton who was contacted for a statement on the pledge her grandfather has made for his fortune, was not available to comment as she could not be reached. Jerry Oppenheim, a person who profiled the Hilton family in a book called "House of Hilton," said that Barron Hilton is embarrassed by the behavior his granddaughter Paris commits; Oppenheimer also said that Barron believes the behavior has put down the family name.
Who Is The Money Going To Exactly?
The money donated will be inputted onto a charitable trust that will at some point add to the Conrad N. Hilton Foundation, thus allowing its value to reach about $4.5 billion. Chairman of the foundation, Barron Hilton plans "to contribute 97% of his entire net worth, estimated today at $2.3 billion, including the created trusts, at whatever value it is at the time of his passing," the foundation said.
About The Conrad N. Hilton Foundation
The Conrad N. Hilton Foundation is a charity program that supports projects such as: the initiative to provide clean water in Africa, education for blind children, and the housing of the mentally ill. Based on Conrad Hilton's last wishes, the foundations aims "to relieve the suffering, the distressed and the destitute." One of Barron's sons, Steven Hilton said, "Speaking for the family as well as the foundation, we are all exceedingly proud and grateful for this extraordinary commitment," when asked for a comment on the pledge his father made. Steven Barron is also the president and chief executive of the Conrad Foundation.
Great grandfather of Paris Hilton established the Conrad N. Hilton foundation in 1944. When he passed away in 1979 he left virtually all of his wealth to the charity. Barron Hilton then proceeded to challenge the will, and after 10 years of legal struggle was allowed to split ownership of the shares with his father's foundation, The New York Times reported.
Michelle Nichols, Editing by Daniel Trotta and Eric Walsh, "Paris loses out: Hilton fortune pledged to charity", Reuters and Yahoo! omg!
Published by Idalia Benavides
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7 Comments
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Nice update. I've published a list of budget tips for her which ought to segue with your article and if I'd known about your article, I'd have included a link to it within mine :)
Nice work!
I agree- I think this is more of a statement than a way to screw Paris out of wealth - she has that on here own (whether she deserves that is debatable, haha). I think it's great that he publicly denounced her behavior. Go Gramps! I'd be embarrassed too.
She will still have plenty of wealth, but it is great that so much will be going to charity. Also, his decision to do this speaks volumes about how he feels about the behavior of Paris.
Poor little rich girl!
I agree with Tabitha. However, it is great that people who need the money will be receiving it instead of just stacking on to Paris' fortune :)
Nice article, but Paris is also independently wealthy, so this isn't a HUGE deal, she'll just have millions instead of that ungodly amount of money.