Wealthiest Angelenos: William Barron Hilton – #15

0
Wealthiest Angelenos: William Barron Hilton – #15
Wealthiest Angelenos: William Barron Hilton

The skinny on the fat wallets of L.A.’s 50 wealthiest.

William Barron Hilton

NET WORTH: $2.5 billion +28%

LAST YEAR: $1.95 billion

AGE: 83 RESIDENCE: Holmby Hills

SOURCE OF WEALTH: Hotels

THE MONEY: Son of legendary hotelier Conrad Hilton publicly declared personal net worth at $2.5 billion. Took hit during recession, but solid comeback in equities and other investments over last two years boosted fortune.

BUZZ: Takes philanthropy seriously. Made commitment to donate vast majority of fortune before Bill Gates and Warren Buffett developed Philanthropic Pledge, asking wealthy to donate majority of fortunes. In letter this year, stated Conrad N. Hilton Foundation will “operate in perpetuity as a tribute to the customers, executives and hotel employees who created our wealth in the first place.” In March, organization committed $50 million to build clean water systems in sub-Saharan Africa, India and Mexico. Pilot and lifelong aviation buff, gave Smithsonian $10 million for “Barron Hilton: Pioneers of Flight,” exhibit on aviation during the 1920s and 1930s. Hilton business started in 1919 when father bought 40-room hotel in Cisco, Texas. Son resisted joining company but did so in 1954, becoming chief executive in 1966. Sold company at height of market in 2007 to private equity group. Has big Nevada ranch.

No posts to display