Connect
To Top

All Those Paris Hilton Scandals Make Her Family Reconsider Her Inheritence

The media personality’s antics, that Paris Hilton was up to ages ago to come into the limelight, have had a huge cost. Paris Hilton’s cousins are probably seething with anger at the very mention of her mere name, having been left short-changed, following the death of Barron Hilton. To understand why, we need to start at the very beginning.

Way back in 1919, Conrad Hilton (the great-grandfather of Paris Hilton), better known to all as Connie, bought his very first hotel in Texas. The businessman actually chose a great time for this acquisition as the Texas oil boom ensured that Hilton’s hotel always remained fully booked and with profits on a daily basis, he was able to expand his business rapidly.

THE FOUNDATIONS

Being a shrewd operator, Connie opted to build hotels himself, instead of buying other hotels. The Dallas Hilton opened in 1925 and was the foundation upon which the international chain of hotels was to be built; Connie became the first man to achieve this feat. By 1930, the hotelier had been able to put up three more Hilton hotels in Texas. His career hitherto was unblemished till then, but there was the Great Depression since 1929! Tough financial times led the man close to bankruptcy, but he managed to turn the tables, even going international. In 1996, Connie felt it was time to pass on the baton and William Barron Hilton, Connie’s second son, was his father’s successor as the president of the Hilton Hotels Empire. Barron did a good job when he succeeded his old man as president of the Hilton Empire

Connie passed away 1979 aged 91, and he did live long. There was no suspicion of foul play as the cause of death was natural. However, the passing of a very wealthy man doesn’t come without its share of drama and Barron, though left in charge of the hotels, contested his father’s will. Initially, Connie bequeathed $500,000 to his siblings, and $10,000 to all other relatives. Everything else was donated to the Foundation established by him in 1944. Barron managed to own 4 million of his  family-owned company’s, with the rest of the 9.5 million shares split between his dad’s Foundation and another one founded by Barron (named after him).

CHANGE OF WILL

As the Hilton family patriarch, Barron assumed the responsibility for splitting up the estate after Connie’s passing and the burden fell mostly on Barron’s shoulders. Till 2007, the plan was to leave a corpus of $4.5 billion to his family, but Paris Hilton’s antics, forced him to change his mind. As his grand-daughter succeeded in painting the family in a very bad light with her bizarre antics, arrests for driving under the influence, and a very damaging leaked lovemaking video, the Hilton family only inherits 3% of Barron’s fortune while 97% goes to his father’s foundation. While great news for those supported by the foundation, the Hilton family members are annoyed with Paris right now, after grieving the William Barron Hilton passing away at his Los Angeles home on September 19. As the death of a wealthy man cannot pass without any drama, the deceased’s blood relatives might feel side lined or disinherited and can even contest of his will, but there’s no news of that yet.

More in Top Bank Accounts

You must be logged in to post a comment Login