Paris Burned: Hilton Billions Pledged to Charity

Grandpa Hilton pledges $2.3 billion to charity
By Peter Fearon,  Newser Staff
Posted Dec 27, 2007 4:41 AM CST
U.S. heiress Paris Hilton poses for photographers in Berlin Dec. 12, 2007. Her grandfather Barron Hilton is leaving most of his $2.3 billion fortune to charity leaving little left for her and her relatives....   (Associated Press)
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(Newser) – The woman who made "hotel heiress" synonymous with sex tapes and partying won't be inheriting the hotel fortune: Paris Hilton's 80-year-old grandfather, hotel magnate Barron Hilton, will give 97% of his $2.3 billion fortune to the Conrad Hilton Foundation, reports the Los Angeles Times. In doing so, Barron follows in the footsteps of his father, Conrad Hilton, who left nearly all his fortune to his foundation when he died in 1979.

Hilton will give $1.2 billion immediately to the foundation, which funds causes from drug treatment to drought in Africa, with another billion or so to come after his death. The money comes from the sale of Hilton hotels, and the upcoming sale of Harrah's Entertainment. No immediate word from Paris, who's been earning her own living from modeling, acting, recording and selling perfume.