Despite Paris Hilton's hopes and dreams for growing her collection of pink Bentleys without much work, she'll likely have to pursue that dream on her own. That's because the patriarch of the Hilton family, Barron Hilton, plans to leave 97 percent of his estate to the Conrad N. Hilton Foundation upon his passing, leaving just 3 percent to be divided among his numerous heirs. That wasn't always the plan.
Reportedly Barron was all set to leave his entire $4.5 billion estate to his family but changed his mind in 2007 after being so embarrassed by what Paris had done to the Hilton name. This move will effectively double the holdings of the foundation named for his father, Conrad (who built the hotel empire from nothing), when Barron dies. Great for humanity, bad for Hilton heirs at large. Thanks to Paris, they just lost out on $4.3 billion.
I have to confess to being of two minds about this; I'm not hurt to see Paris lose out on the fortune, and have to hustle for her own money (which she seems to be doing successfully, if not graciously) but I'm really not sure that having the money squirreled away in a charitable foundation will be any better for the economy than having her fritter it away.
uh, hands (NSFW link) it would get spent on pink Bentleys, boy friends, video tape, small dog food, airline tickets, and other almost totally random things. Pretty much like the Obama stimulus program.
They say that the first generation makes the money, the second generation grows the money, and the third generation squanders the money. This money made it to the 4th generation. More than enough. Let her blow it...
Wombat-socho had this linked to his Rule 5 Sunday: Rubycon post at The Other McCain by the middle of the Redskins game; now that's ambitious.