THE MONEY: Blue-chip stocks, in which Hilton keeps bulk of his money, performed very well last year, helping to boost his fortune. Sold off stake in family hotel business in 2007. has pledged 97 percent of his wealth to Conrad N. Hilton Foundation upon his death, more than doubling endowment, currently at about $2 billion.
BUZZ: Hilton Foundation approved record $38.3 million in new grants in December to 33 organizations, focusing mainly on Catholic as well as juvenile HIV and AIDS causes. Father, Conrad, patriarch of family hotel business, had been lifelong supporter of Catholic organizations. Son Stephen announced in March he would step down as chief executive of foundation at end of 2015. No family members expressed interest in post; foundation will conduct national search for next CEO. Founder of San Diego Chargers football team became last living member of “Foolish Club,” owners of eight original American Football League franchises, upon death of Buffalo Bills owner Ralph Wilson earlier this year. Lifelong aviation enthusiast went to aeronautical school at USC before embarking on business career. Elected vice president of Hilton Hotels in 1954.
$3.73 billion s13%
LAST YEAR: $3.3 billion
RESIDENCE: Holmby Hills
SOURCE OF WEALTH: Inheritance, hotels
For reprint and licensing requests for this article, CLICK HERE.