Thursday, December 27, 2007

Barron Hilton Leaves $2.3 Billion to Charitable Foundation

On December 27, 2007, several newspapers - including Los Angeles Times and USA Today - reported that billionaire Barron Hilton will leave about 97% of his net worth to his family's charitable foundation.  Here is an excerpt from the LA Times article:

Hotel magnate Barron Hilton, grandfather of heiress Paris Hilton, has bequeathed 97% of his estimated $2.3-billion net worth to his father's charity foundation, officials said Wednesday.

The contribution to the Conrad N. Hilton Foundation, to come from the sale of Hilton Hotels Corp. and the pending sale of Harrah's Entertainment Inc. after the money is placed in a trust, is the largest in the foundation's history and will bring its value to about $4.5 billion.

To see the entire article, go to the LA Times website.


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