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Friday, January 11, 2008

Paris, A Simpler Life

Paris Hilton's "A Simpler Life" reality TV might turn out closer to becoming a reality after all. Her grandfather, Barron Hilton, pledged to donate a big chunk of his wealth to charity. Given Paris' high profile misadventures, I think any granddad would've done the same.
Paris Loses Out; Hilton Fortune Pledged to Charity

U.S. hotel heiress Paris Hilton's potential inheritance dramatically diminished after her grandfather Barron Hilton announced plans on Wednesday to donate 97 percent of his $2.3 billion fortune to charity.

That wealth includes $1.2 billion Barron Hilton stands to earn from both the recent sale of Hilton Hotels -- started by his father Conrad in 1919 when he bought a small hotel in Cisco, Texas -- and pending sale of the world's biggest casino company, Harrah's Entertainment.

That money will be placed in a charitable trust that will eventually benefit the Conrad N. Hilton Foundation, raising its total value to about $4.5 billion, the foundation said in a statement.

Barron Hilton, chairman of the foundation, 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," the foundation said.

Ooh... that's hot!

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