Paris and Hilton

Conrad Hilton

Conrad Hilton bought his first hotel in Texas in 1919. The ongoing oil boom in the state ensured fully booked rooms. He went on to build the high-rise Dallas Hilton in 1925, and followed with three more Hiltons in Texas over the course of the next five years. He expanded to become the world's first international hotel chain. 

Barron Hilton

In 1966, his second son, Barron, replaced him as president of Hilton Hotels. Barron contested his father's will after his death. A settlement was reached, leaving Barron with 4 million shares of the enterprise, the Conrad N. Hilton Foundation with 3.5 million shares, and the W. Barron Hilton Charitable Remainder Unitrust with 6 million shares.





The mission of the Conrad N. Hilton Foundation is to "relieve the suffering, the distressed, and the destitute". Equal to any one of the six Nobel Prizes, at $1.5 million, the annual Conrad N. Hilton Humanitarian Prize is the biggest humanitarian award in the world. It is awarded annually to a non-profit organization that has made impressive advancements in easing human suffering.

From such a legacy comes Paris Whitney Hilton the great-granddaughter of Conrad Hilton and the daughter of Barron Hilton. Her party lifestyle and rumored short-lived relationships with Leonardo DiCaprio and Oscar De La Hoya made her a fixture in entertainment news. She has also been in the news for sex tapes, buying pink Bentley's, writing an autobiography, and starring in reality shows, TV movie, music videos and spin-offs of the same.

She has parlayed her media fame into a fashion line with her celebrity endorsement. There are 44 Paris Hilton stores worldwide and her brand includes perfumes, handbags, watches, footwear, among other products. Hilton earns over $10 million a year from her products sales and as of 2005, she was paid around $300,000 for appearances in clubs and events.

It's been reported that Barron is extremely embarrassed by Paris and believes Paris has permanently tarnished the Hilton name. As such, Barron, who had been planning on leaving his entire $4.3 billion estate to his family, is now instead leaving 97% to charity. It's been speculated that Paris herself has been specifically cut out of receiving anything from the estate. 

Considering Paris already has $100 million in the bank, I doubt she'll care too much. 

HOW DOES THIS UNLOCK CURRENT BILLION DOLLAR EMPIRE INHERITANCE

There is a long list of billionaires these days who have already written off their children from their inheritance. To name a few:

• Jackie Chan - Is not giving one cent from his USD 350 Million net worth to his son
• George Lucas - Plans to give away atleast half of his USD 5.2 Billion net worth to charity and not to his 4 kids
• Mark Zuckerburg - Gave away 99% of his infant daughter's inheritance to charity
• Warren Buffet, Sting, Simon Cowell etc.