Paris Hilton: From Princess to Pauper


PARIS HILTON, the heiress of the Hilton hotel chains was born with a silver spoon. The prodigal daughter is known for her luxurious lifestyle and lavish spending, besides being known for her party crazy attitude, sex tapes and her drunken driving imprisonment term. What had been a bad year for Paris, just got worse with Paris Hilton’s grandfather announcing that he would hand over 97 per cent of his $2.3 billion fortune to charities when he dies.Barron Hilton, the hotelier has overlooked his 23 grandchildren - including Paris and sister Nicky - and bequeathed 97 per cent of his estimated $2.3 billion fortune to his father’s charity - the Conrad N. Hilton Foundation. Hilton, the chairman of the foundation, said he was "proud to follow my father’s example". On his death, in 1979, Conrad Hilton left 97 per cent of his money to the foundation he had founded in 1944. But his son challenged the will and reached an accord dividing ownership of the shares with the foundation. The foundation concentrates most of its funding on major long-term projects that will affect systemic change. The foundation has been instrumental in providing water and sanitation systems for villagers in developing countries; supportive housing for mentally ill homeless and homeless women and children in the states; blindness prevention and treatment worldwide; drug abuse prevention among youth; and early childhood education for children with disabilities.Paris, who had stood to inherit an estimated $100 million, will now receive about $5 million after tax, which is just a handful of the fortune that she could have inherited, a classic case of a princess turning into a pauper. Paris has so far refused to comment on her grandfather’s decision. She is currently enjoying a short break in Hawaii. And Paris’s New Year wish is for a new man to come in her life. She had recently split from pizza delivery boy Alex Vaggo amid claims he was "too shy" and as a New Year resolution is determined to find a new boyfriend.
Paris, could well be staring at bankruptcy if she doesn’t curb her lavish spending. Or she would have to make money on her own if she doesn’t want to change her lifestyle. Whatever she chooses to do, it won’t be easy for Paris as the tremendous fortune that she could have inherited is all but gone!