Paris Hilton’s Inheritance Goes to Nuns?
It’s a good thing that Paris Hilton gets paid so much to do appearances,louis vuitton wallet, she just might need the cash. On Wednesday, her grandfather, Barron Hilton announced that he’s pulling a Warren Buffett and plans to donate 97 percent of his $2.3 billion fortune to charity. That number includes the $1.2 billion Barron Hilton stands to earn from both the recent sale of Hilton Hotels Corp. and pending sale of the world’s biggest casino company, Harrah’s Entertainment Inc. The money will be placed in a charitable trust that will eventually benefit the Conrad N. Hilton Foundation, bringing its total to around $4.5 billion. it has been rumored that the senior Hilton has been embarassed by the hard-partying ways of some of his grandchildren like Paris and her sister Nicky.
The Hilton foundation supports a variety of projects. Conrad Hilton established the foundation in 1944 and left most of his fortune to it when he died in 1979 but Barron Hilton challenged the will and after a long legal battle he agreed to split ownership of the shares in the Hilton hotel empire with the foundation. The Conrad N. Hilton Fund for Sisters, established in 1986,louis vuitton bag, is the principal beneficiary of the Conrad N. Hilton Fund. It operates under the auspices of the Archdiocese of Los Angeles, and supports the apostolic work of sisters around the globe. Projects focus on health care, education and social service. According to the Hilton Foundation website, in order for projects to qualify for funding, they must directly serve the economically disadvantaged, and at least one vowed member of an officially recognized Roman Catholic congregation of women must be directly involved with the project in a full-time capacity. The Sisters’ Fund also awards emergency grants in response to natural disasters and political crises. Most of the grants from the Sisters’ Fund are small and have gone to projects such as helping sisters in Uganda to begin poultry raising projects and in Vietnam, grants for sewing machines have helped sisters to establish vocational training programs for young, rural women. So far the Conrad N. Hilton Fund for Sisters has awarded over 3,louis vuitton handbags,600 grants totaling more than $38 million dollars.