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.
The rest of the Hilton clan who were set to receive portions of the Hilton fortune are understandably not happy that Paris has diminished their chances of a massive windfall.
Paris Hilton, poses for the camera once again
Instead, Barron Hilton 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.”
The film actress and ex-convict who has dragged the Hilton name through the dirt was not available for comment personally. Paris Hilton, who pays trashy conglomerate owned celebrity gossip site TMZ large sums of money and uses them as her own personal mouthpiece will probably try to refute the story in a few days with more Michael Sitrick spin.