Paris Hilton would no longer be a billionaire heiress after her
grandfather decided to bequeath 2.3 billion dollars or 97 percent
of his net worth to the family foundation.
The 80-year-old billion Barron Hilton decided to donate 1.2
billion dollars immediately to the foundation, which will go into a
trust first, and the rest 1.1 billion dollars would come from the
sale of Harrah's Entertainment Inc after his death, U.S. media
reported Thursday.?
The donation is thought to be the largest sum in the
foundation's history.
"We are all exceedingly proud and grateful for this
extraordinary commitment," Steven M. Hilton, the donator's son and
president and chief executive of the organization, said in a
statement.
The charity has distributed 560 million dollars for programs to
aid the blind and mentally ill homeless individuals since its
foundation.
The family name has become gossip column fodder in recent years
with the sex tape, red carpet antics and jail time of socialite and
entrepreneur Paris.
Paris Hilton is not immediately available for comment on her
grandfather's decision. But sources estimated that Paris won't
likely be hurt financially because she has her own business
ventures that are said to be very profitable.
(Agencies via Xinhua December 28, 2007)