Net Worth: $4 billion, down 3 percent
LAST YEAR: $4.12 billion
RESIDENCE: Holmby Hills
SOURCE OF WEALTH: Inheritance, hotels
THE MONEY: Philanthropist’s net worth decreased slightly last year as blue-chip stocks, primary repository of Hilton’s wealth, fell by 1 percent. Hilton, who served on board of Conrad N. Hilton Foundation until 2014, decided to bequeath most of fortune to the organization, which would boost assets to more than $5 billion upon his death.
THE BUZZ: Conrad N. Hilton Foundation saw big changes this past year. With no family members interested in heading organization, Peter Laugharn became chief executive as Hilton’s son Stephen stepped aside to become board chairman. Foundation approved $107 million in grants last year, marking 7 percent increase from $99 million in grants made previous year. Much of money supports Catholic Sisters, reflecting work of Hilton’s late father, hotelier Conrad, who supported Catholic organizations throughout his lifetime. William Hilton attended USC’s Aeronautical School, began business career at 19 and made vice president of Hilton Hotels in 1954. Founded Air Finance Corp. in 1956 and original co-owner of San Diego Chargers.
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