Wednesday, December 26, 2007
PARIS HILTON WAVES GOOD-BYE TO INHERITANCE
Pretty soon, the word "heiress" won't go so well with the name "Paris." It seems Miss Hilton doesn't stand to inherit very much of her grandfather Barron Hilton's fortune.
It was announced earlier today that the Elder Hilton will donate 97% of his $2.3 billion fortune to charitable causes. And that doesn't leave the "Simple Life" starlet with much left over.
The beneficiary of Barron's generosity will be the Conrad N. Hilton Foundation, and will bring it's total assets to $4.5 billion. An official statement read, Barron intends "to contribute 97 percent 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."
One of Paris' uncles, Steve Hilton released this statement; "Speaking for the family as well as the foundation, we are all exceedingly proud and grateful for this extraordinary commitment."
The Conrad N. Hilton Foundation exists, "to support projects that provide clean water in Africa, education for blind children, and housing for the mentally ill. Its aims, based on Conrad Hilton's will, are to relieve the suffering, the distressed and the destitute."
With all that said, you gotta wonder how Paris is taking the news. After all, it was her sex tape and drunk driving antics that are believed to have caused her grandfather's change of heart.
Gossip Girls
Enjoy the pictures of Paris vacationing in Maui (December 25).
