Paris Hilton Loses Inheritance To Charity
Paris Hilton’s 80 year-old grandfather, Baron Hilton has announced on Wednesday that he will be donating 97 percent of his $2.3 billion wealth to Conrad N. Hilton Foundation a charitable foundation founded by his father Conrad.
Remaining three percent calculated to be worth $69 million are said to be taxable.
Baron has eight children and 23 grandchildren and according to calculations by New York’s Daily News, Paris, who once foresaw a $100 million inheritance, is now likely looking at $5 million.
Paris who makes millions a year from her celebrity appearances and endorsements had no immediate comment on her grandfather’s bequest. According to Forbes magazine, the socialite earned $6.5 million last year.
In a statement, Barron Hilton said that his father, Conrad, had set the example and bequeathed 97 percent of his money to the charitable foundation, which the elder Hilton founded in 1944, “and I am proud to follow my father’s example.”
“We are all exceedingly proud and grateful for this extraordinary commitment,” said the head of the charity, Steven Hilton, who is Barron’s son and an uncle to Paris.
Baron Hilton, the 80-year-old son of the founder of the worldwide hotel chain sued to get his hands on half of Conrad Hilton’s fortune when Conrad left most of his money to the foundation when he died in 1979.
Lets hope younger Hiltons wont be following grandpa Baron’s proud move in the 70s. (Everyone probably wants a bigger cut)
|
Stumble it! |
Share This Post
No comment so far
to Paris Hilton Loses Inheritance To CharityGot something to say
about Paris Hilton Loses Inheritance To Charity?