Wednesday, December 26, 2007

Celebrity Dunce Gets Huge Lump of Coal for Christmas

Barron Hilton is keeping the money within the family foundation and we're sure the dough will go to worthy endeavors.
The Conrad N. Hilton Foundation has announced that its Chairman, Barron Hilton, is building on the philanthropic legacy of his father by 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. This brings the total value of the Hilton Foundation and its related charitable entities to approximately $4.5 billion.

Barron Hilton also indicated at a recent meeting of the Conrad N. Hilton Foundation board of directors that it is his intent to further follow in his father's footsteps by contributing 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.
Naturally, the media angle is how much the idiot heirhead stands to lose out on, as if she'll be left panhandling on a street corner somewhere.
Hotel heiress Paris Hilton's potential inheritance dramatically diminished after her grandfather Barron Hilton announced plans on Wednesday to donate 97 percent of his $2.3 billion fortune to charity.

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