Barron Hilton Net Worth
Barron Hilton Net Worth: Barron Hilton was an American businessman and socialite who had a net worth of $4.5 billion dollars at the time of his death in 2019. Born in 1927 in Dallas, Texas, Barron Hilton was the son of hotel mogul Conrad Hilton. The younger Hilton was a Navy photographer during World War II. After the war he actually turned down his father's offer to join the family business. Instead he attended the University of Southern California Aeronautical School. Hilton then worked with several different companies including one that distributed fruit juice.
In the 1950s he finally joined the family empire, becoming vice president of Hilton Hotels. In 1959, Barron purchased the American Football League's Los Angeles franchise and named the team the Charges. The team moved to San Diego in 1961. Hilton was instrumental in the construction of Jack Murphy Stadium, which is known today as Qualcomm Stadium. He also played a significant role in merging the National Football League and the American Football League into today's NFL. He's the last living member of the Foolish Club, a name the AFL owners gave themselves as they tried to compete with the well-established NFL. He sold his stake in the Chargers in 1966 for $10 million.
In the 1970s, it was Barron's wise idea to invest in Nevada casinos, buying what would become the Las Vegas Hilton and the Flamingo hotel and the source of the majority of the family wealth today.
When Conrad Hilton died in 1979, 97% of his estate was left to his personal charity with the option for Barron to purchase his shares to keep the Hilton family in control of the company. Though the charity opposed it, a court eventually ruled in favor of Barron. A settlement was reached, leaving Barron with 4 million shares of the family enterprise.
Private equity behemoth Blackstone acquired Hilton in 2000 for $20 billion.
Disinheriting Paris: Barron was married to Marilyn June Hawley from 1947 until her death in 2004. They had two daughters and six sons. For much of his adult life, Barron intended to leave his multi-billion-dollar fortune to his family after his passing. His family includes grandchildren Paris, Nicky Hilton and Barron Hilton II.
Barron was reportedly extremely embarrassed by the actions of granddaughter Paris. From the sex tape, to the terrible reality shows, to the general tarnishing of the Hilton name. As a result, in 2007, Conrad adjusted the terms of his will to cut out his family and instead leave 97% of his estate to the Conrad N. Hilton Foundation. So, instead of roughly two dozen people inheriting $4.5 billion, $190 million per person, those same people will split 3% of $4.5 billion. That's a total of $135 million, around $5.6 million per person.
Barron Hilton died on September 19, 2019 at the age of 91. With his passing, $4.5 billion will be transferred to the Conrad N. Hilton foundation, boosting its coffers to more than $6 billion. The Hilton family members will split just 3%, roughly $135 million. It will be split among dozens of children, grandchildren and even several great-grandchildren.
|Net Worth:||$4.5 Billion|
|Date of Birth:||Oct 23, 1927 - Sep 19, 2019 (91 years old)|
|Profession:||Businessperson, Socialite, Investor, Magnate|
|Nationality:||United States of America|