Born with the golden spoon, American media personality Paris Whitney Hilton has been one of the most influential women across the world. Sources report, Hilton earns roughly around $10 million a year from her several business ventures.
Despite the wealthy family and massive fortune in her pocket, how did Paris Hilton cost her family $4.5 billion? Details down below.
How Rich Is The Hilton Family?
According to Celebrity net worth, Paris Hilton is estimated at around $300 million as of November 2019. In 2017, Hilton owned $100 million to her name.
Paris pockets about $10 million per year from her retail business, which includes 50 stores and around 19 product lines. As per reports, her business ventures have generated sales of over $3 billion to date.
On the other hand, her father Richard Howard Hilton and mother Kathy Hilton are combined worth $600 million ($300 million) each.
How Did Paris Hilton Cost Her Family $4.5 Billion?
Late American business magnate, sportsman, and philanthropist Barron Hilton was the successor of Conrad N. Hilton Foundation with 3.5 million shares, 4 million shares on enterprise, and 6 million shares on the W. Barron Hilton Charitable Remainder Unitrust.
The multi-millionaire planned to leave all of his fortunes to his numerous heirs upon his death; however, the decision was changed in 2007.
Baron was reportedly embarrassed by the foolishness of his grand-daughter, Paris Hilton. As per him, his grand-children had ruined the Hilton’s name with their sex tapes, reality shows, general tomfoolery, and endless DUIs.
Following the events, in Christmas of 2007, Baron changed his will to donate 97% of his wealth to charity and leaving just 3% to his two dozen family members. Sources claimed Baron’s wealth was worth $4.5 billion altogether.
Instead of sharing the entire $4.5 billion, two dozen people will split 3% of $4.5 billion, i.e. $135 million, with $5.6 million per person.
Furthermore, Baron cut his grand-daughter Paris out of his estate entirely, and she will not be getting a single penny.
Not that Paris needs the money owning a net worth of massive $300 million to herself.
William Barron Hilton passed away on 19th September 2019 due to natural causes at his home in Los Angeles. His $4.5 billion will up the foundation’s assets to more than $6 billion, so in a way, Paris Hilton should be thanked for her terrible lifestyle of many years.
Fun Fact: If it weren't for Paris' lifestyle, each of two dozen family members would get $187,500,000 approximately from Barron's $4.5 billion will.