When Paris Hilton was released from jail earlier this year she vowed to rededicate her life to help those in need.
How charitable.
But, now the 26-year-old socialite’s philanthropic posturing is really being put to the test—-courtesy of her grandfather.
Hilton’s 80-year-old grandpa Barron Hilton (whose father was the original founder of the hotel chain that bears the family name) just announced he plans to donate 97 percent of his fortune to the Conrad N. Hilton Foundation. The charity aids the homeless, helps provide safe water in developing countries, and assists other worthy causes around the world.
So what does Hilton’s generous move mean for his paparazzi stalked granddaughter? For starters it means her future bank account just took a huge hit. Barron Hilton is worth a ton of money and now nearly $2.3 billion of his vast fortune will be earmarked to help those who are really in need.
But, don’t shed tears for the drama queen. Barron’s heirs (Paris included) will receive the remaining three percent of his money—some $69 million.
According to calculations by New York’s Daily News, the former jailbird, who once foresaw a $100 million inheritance, now stands to collect about 5 million taxable dollars.
Another report says Grandpa Barron once leaked that he was “embarrassed” by Paris’ behavior and supposedly threatened to yank her inheritance entirely a few years back. However, despite what Paris has done to the family name, Barron says the reason he decided to donate the majority of his wealth to charity is simply because it’s what his father would have wanted.
In a statement, Barron Hilton said that his father, Conrad, had set the example and bequeathed 97 percent of his money to the charitable foundation, which the elder Hilton founded in 1944, “and I am proud to follow my father’s example.”
I wonder what Paris thinks about her grandpa’s charitable move?
In other family news, actor Brendan Fraser and his wife Afton have decided to end their familial ties.
The 39-year-old star of “The Mummy” and his wife have been married since 1998, but are now going their separate ways, according to Fraser’s rep.
The couple has three young children: Griffin, Holden and Leland.