Barron Hilton Dies and Leaves 97% of His Fortune to the Family Foundation

Barron Hilton succeeded his father Conrad Hilton, as chairman, president, and chief executive of Hilton Hotels Corporation in 1966. He retired in 1996.

Barron Hilton, left 97% of his wealth to the family foundation. Pictured here is Barron Hilton (right) with his granddaughter Paris at Dan Tanas on April 14, 2010 in Los Angeles, California. Jean Baptiste Lacroix/WireImage/Getty Image via Barrons.com

 

 

 

Note: Though we are a little late on this reporting, we thought it was prominent enough to still cover it.

Hotelier and philanthropist Barron Hilton, who died in Los Angeles on Sept. 19 at age 91, has left 97% of his fortune to his family foundation, which will help strengthen its seven charitable programs across the world, focused on disaster relief and recovery, treating children with HIV and AIDS, poverty alleviation, and more, this according to the Conrad N. Hilton Foundation.

The billionaire son and successor to hotel pioneer Conrad Hilton, and the well known Hilton family, had an estimated net worth of $2.3 billion in 2007, when he pledged his donation, according to Forbes. But the family foundation said the planned gift is projected to increase its endowment from $2.9 billion to $6.3 billion, which means his donation is close to $3.4 billion. The remaining 3% of his wealth will go to his family members, including eight children, 15 grandchildren, including socialite granddaughters Paris and Nicky, and four great-grandchildren.

The longtime chairman, president and CEO of Hilton Hotels Corporation, Barron Hilton dramatically expanded the domestic hotel chain begun by his father with a lucrative series of real-estate acquisitions and mergers. He also took the company into the gaming industry before selling those operations over the course of 2006 to 2007.

In 2007, he announced he would donate $1.2 billion in proceeds from the sale of Hilton Hotels Corporation and Harrah’s Entertainment to his father’s eponymous foundation, whose mission is to “relieve the suffering, the distressed and the destitute.”

Hilton’s family said he died of natural causes.

Here is Barron Hilton’s obituary from the Hilton Foundation.

 

 

 

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