#15 – William Barron Hilton
Net Worth: $1.73 billion -25%
Last Year: $2.3 billion
Age: 81
Residence: Holmby Hills
Source of Wealth: Hotels
The Money:
Since 2007, when Hilton sold off family hotel empire and personal stock in Las Vegas casino, has kept low business profile. At that time, he released $2.3 billion estimate of his wealth and announced that upon his death 97 percent of estate would go to Conrad N. Hilton Foundation. Presumed to have suffered average losses.
Buzz:
This election cycle Hilton gave to three Republican presidential candidates: Rudy Giuliani, Mitt Romney and John McCain. Politics got personal when McCain TV ad tried to depict Barack Obama as shallow celebrity by comparing him to Hilton? granddaughter Paris. Hilton reportedly called campaign to complain. Tragic personal mystery was solved this year when hiker found plane wreckage and bones of aviator Steve Fossett, who took off from Hilton? Nevada ranch in 2007 and was never seen again. On business front, new ownership of Hilton Hotel chain, New York private equity firm Blackstone Group, announced it will move headquarters from Beverly Hills to Virginia, severing final link between company and eccentric founding family. Storied hotel chain founded in 1919 when Barron? father, Conrad, bought 40-room lodging in Cisco, Texas. Hilton joined company in 1954; became chief executive in 1966.
