Light Rain66° FULL FORECASTLight Rain66° FULL FORECAST
Make us your home page
Instagram

Hilton patriarch cuts family out of will ... maybe

30

July

Barron Hilton, the patriarch of the eponymous hotel-chain empire, is so disgusted by his own overprivileged kin that he’d rather give his money away than give it to the spoiled brats that populate the family tree.

Now, to keep up The Juice*’s ban on certain heirheads we aren’t naming, we will simply say that Australia’s Daily Telegraph reports Hilton the senior (the only family member with a real stake in the business) will donate the cash he gets from selling the company to Blackstone to the Conrad N. Hilton Foundation, which funds charities across the globe. Bloomberg reports he’ll get $990-million for his 2.8-million shares.

The paper quotes Jerry Oppenheimer, an author who wrote the family biography House of Hilton, is saying that one particular member stands to lose something crazy like $60-million (we can’t determine whether that’s AU or US dollars) because of videotapes and jail terms that Barron thinks shamed the family.

“He was, and is, extremely embarrassed by how the Hilton name has been sullied ...,” Oppenheimer says. “He now doesn’t want to leave unearned wealth to his family.” We applaud the 79-year-old benefactor’s plan — and wish we qualified as a charity.

[Last modified: Tuesday, May 25, 2010 9:17am]

    

Join the discussion: Click to view comments, add yours

Loading...