Net Worth:

$1.2 billion +20%

Last Year:

$1 billion

Age:

79

Residence:

Holmby Hills

Source of Wealth:

Hotels

The Money:

While Nicky and Paris Hilton provide gossip to the tabloids, their grandfather quietly grows the family fortune. A strong stock market favored by hospitality and gaming companies swelled William Barron Hilton’s wealth, which consists of shares in Hilton Hotels Corp. and Harrah’s Entertainment Inc.

Buzz:

In 2005, Harrah’s purchased Caesars Entertainment. At the time Hilton sat on the Harrah’s board and held nearly 24 million shares in Caesars, giving him a $300 million payout. Although he has turned over operational control of Hilton to non-family members, he still serves as co-chairman of the hotel chain his father founded in 1946. Joined company in 1954 and became chief executive in 1966. Today the company has more than 2,800 hotels under the Hilton, Doubletree, Embassy Suites and Hampton Inn brands. The hotelier faces a succession challenge this summer due to the announced retirement of Chief Executive Officer Steve Bollenbach.