Paris' loss is charity's gain
Howard Lake | 27 December 2007 | Blogs
The BBC reports that 80-year-old hotel magnate Barron Hilton is to donate 97% of his $2.3 billion (£1.2 billion) fortune, to the Conrad N Hilton Foundation which was established by his father.
As a result it looks like his grand-daughter Paris is likely to enjoy a much reduced inheritance.
Hilton has begun by contributing approximately $1.2 billion of proceeds from the sale of Hilton Hotels Corporation and the pending sale of Harrah’s Entertainment into a charitable remainder unitrust that will eventually benefit the foundation.
The Conrad N. Hilton Humanitarian Prize, now in its 12th year, is the largest humanitarian award in the world at $1.5 million and is given annually to a charitable organization that is doing extraordinary work in relieving suffering.
www.hiltonfoundation.org
About Howard Lake
Howard Lake is consultant editor of UK Fundraising. He founded the site in 1994 and successfully sold it in 2022. As director of Giving X Ltd he is exploring growing giving on a massive scale.
He is the founder of Fundraising Camp and co-founder of GoodJobs.