Poor Paris Hilton Loses $60 Million Inheritance

Los Angeles, CA - Barron Hilton, Paris Hilton's grandfather, announced yesterday that he will be leaving 97 percent, or 2.3 billion dollars (Daily News) of his money to charity.

By some accounts, this leaves heiress and Hollywood bad girl Paris Hilton with a mere $5 million inheritance. Different news outlets have calculated Paris Hilton's inheritance loss to be as high as $100 million (Daily News).

The remaining three percent of the inheritance, about $69 million will be split among Barron's heirs, including Paris Hilton, according to People.com

Barron Hilton

Barron Hilton, 80, is the son of the founder of the Hilton Hotel Chain.

According to the Conrad N. Hilton Foundation, Barron Hilton, Chariman of the foundation, will be " contributing approximately $1.2 billion of proceeds from the sale of Hilton Hotels Corporation and the pending sale of Harrah's Entertainment into a charitable remainder unitrust that will eventually benefit the foundation."

The Conrad N. Hilton Foundation

With the Barron Hilton contribution, the Conrad N. Hilton Foundation will be valued at $4.5 billion, according to the Conrad N. Hilton Foundation

Conrad N. Hilton, established the Conrad N. Hilton Foundation in 1944. Conrad N. Hilton who purchased his first hotel in 1919 (Conrad N. Hilton Foundation), grew the Hilton hotel business to become and internationally known hotel chain.

When he died in 1979, the "bulk of his estate" was given to the Conrad N. Hilton Foundation. The Conrad N. Hilton Foundation gives to diverse causes including blindness, Catholic Sisters, domestic violence, early childhood development, homelessness, hotel restaurant management education, substance abuse, and water development.

Now his son, Paris Hilton's grandfather, Barron Hilton is following suit.

"Working to alleviate human suffering around the globe, regardless of race, religion or geography, is the mandate of the foundation set by my grandfather, Conrad Hilton, and now reinforced by my father, Barron Hilton," Steven M. Hilton, President and CEO of the foundation said in a statment. (Conrad N. Hilton Foundation)

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