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That's Hot! Foundation getting most of Paris' inheritance.(Who ... When ... Where ... How ... WHAT?)


Paris Hilton might someday actually have to get a job. Well, probably not.

The woman who made being famous for being famous a fulltime occupation likely won't be seeing as many zeroes in her inheritance. Her grandfather, Barron Hilton, plans to donate 97 percent of his net worth ($2.3 billion) to the Conrad N. Hilton Foundation.

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Paris, 26, will have to make due with her share of the remaining 3 percent, a paltry $69 million, to split among Hilton's eight children and numerous grandchildren.

The 80-year-old Barron Hilton, chairman of the foundation, plans to donate $1.2 billion of the proceeds from the $900-million sale of Hilton Hotels Corporation and $300 million in stock of Harrah's Entertainment into a charitable remainder unitrust. It would be one of the largest charitable contributions made in 2007 and boost the foundation's total value to $4.5 billion.

The foundation expects to increase staff from 19 to 100 once the bequest goes into effect, according to Fortune magazine, so who knows, Paris might just yet get a job.

COPYRIGHT 2008 NPT Publishing Group, Inc. Reproduced with permission of the copyright holder. Further reproduction or distribution is prohibited without permission.

Copyright 2008, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

NOTE: All illustrations and photos have been removed from this article.


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