Forbes: Hilton gives fortune to charity (not Paris)
The 80-year-old billionaire intends to leave his money to a charitable group founded by his father – sorry, Paris and Nicky.
NEW YORK (Fortune) — The Hilton family patriarch, Barron Hilton, will pass on the $1.2 billion windfall from the sale of Hilton Hotels Corporation – not to his famous progeny, but to his family's philanthropic foundation, Fortune has learned.
Barron Hilton's donation will effectively double the size of the Conrad N. Hilton Foundation, named after Barron's father, the man who built Hilton Hotels from scratch and great-grandfather of celebutantes Paris and Nicky Hilton. In a statement e-mailed to Fortune, Barron Hilton wrote: "My personal net worth today, including created trusts, is approximately $2.3 billion, and what ever value it is upon my passing, it is my intent to contribute 97% of my estate to the Conrad N. Hilton Foundation, following in my father's footsteps." …
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