Paris Hilton Loses Bulk of Expected Inheritance

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Paris Hilton is might not inherit as much money as she expected as The Telegraph report that her grandfather has decided to donate 97% of his fortune to charity:

Barron Hilton, 80, whose father Conrad founded the Hilton Hotel chain in 1919, will donate most of his fortune to the Conrad N Hilton Foundation. Only three per cent – $69 million – will be left to his heirs…

Paris, who had stood to inherit an estimated $100 million, will now receive about $5 million after tax.

An inheritance of $5 million will allow someone to live an upper middle class lifestyle without further resources but will not provide for the lifestyle that Paris accustomed to. It is a good thing that she has other sources of income. She did earn $5.6 million last year, so we don’t have to worry about Paris.

Barron Hilton claims to have followed his father’s example but the story does present a contradiction here:

Mr Hilton, the chairman of the foundation, said he was “proud to follow my father’s example”. On his death, in 1979, Conrad Hilton left 97 per cent of his money to the foundation he had founded in 1944. But his son challenged the will and reached an accord dividing ownership of the shares with the foundation.

Perhaps Paris or other family members will decide to follow that example and challenge the will.

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