Wild Cobra
07-31-2007, 07:14 AM
This isn't politics, but I thought it was an interesting news item:
Why Paris the disgrace is losing her £25m inheritance (http://www.thisislondon.co.uk/showbiz/article-23406205-details/Why+Paris+the+disgrace+is+losing+her+%C2%A325m+inh eritance/article.do)
Looks like the Heiress is on her own now. I heard another account that the $60 million is a low estimate, that her inheritance could have been as high as $2.3 Billion!
From the article:
U.S. sources confidently predict she will quadruple the £3.5 million the business bible Forbes estimates she earned last year. Which is just as well because her behaviour has so appalled her grandfather and head of the Hilton clan, Barron Hilton, that he has cut off her £25 million inheritance.
Hilton senior, the only member of the family left with a sizeable stake in the huge hotel chain, has let it be known that he intends to donate to charity the £1 billion he will gain from this month's sale of the company to private equity firm Blackstone.
The money will go to the Conrad N. Hilton Foundation, the charity set up in the name of the founder of the family business. The 79-year-old patriarch is said to have told his high-living family that he is cutting Paris loose - and for good measure his other 11 grandchildren, too, none of whom will now benefit from the windfall. Instead, he is determined to carry on the family tradition for philanthropy.
"He was, and is, extremely embarrassed by how the Hilton name has been sullied by Paris," says Jerry Oppenheimer, the author of House Of Hilton, the biography of the clan. "He doesn't want to leave unearned wealth to his family."
And who could blame him for feeling embarrassed? His fame-hungry granddaughter is known for her nonstop round of partying, her propensity for shedding her clothes and her enthusiastic performance in a home sex video leaked on to the internet.
Why Paris the disgrace is losing her £25m inheritance (http://www.thisislondon.co.uk/showbiz/article-23406205-details/Why+Paris+the+disgrace+is+losing+her+%C2%A325m+inh eritance/article.do)
Looks like the Heiress is on her own now. I heard another account that the $60 million is a low estimate, that her inheritance could have been as high as $2.3 Billion!
From the article:
U.S. sources confidently predict she will quadruple the £3.5 million the business bible Forbes estimates she earned last year. Which is just as well because her behaviour has so appalled her grandfather and head of the Hilton clan, Barron Hilton, that he has cut off her £25 million inheritance.
Hilton senior, the only member of the family left with a sizeable stake in the huge hotel chain, has let it be known that he intends to donate to charity the £1 billion he will gain from this month's sale of the company to private equity firm Blackstone.
The money will go to the Conrad N. Hilton Foundation, the charity set up in the name of the founder of the family business. The 79-year-old patriarch is said to have told his high-living family that he is cutting Paris loose - and for good measure his other 11 grandchildren, too, none of whom will now benefit from the windfall. Instead, he is determined to carry on the family tradition for philanthropy.
"He was, and is, extremely embarrassed by how the Hilton name has been sullied by Paris," says Jerry Oppenheimer, the author of House Of Hilton, the biography of the clan. "He doesn't want to leave unearned wealth to his family."
And who could blame him for feeling embarrassed? His fame-hungry granddaughter is known for her nonstop round of partying, her propensity for shedding her clothes and her enthusiastic performance in a home sex video leaked on to the internet.