Grandpa Hilton -- Not As Nice As You Think

16. what exactly is the conrad n. hilton foundation? can someone explain it to me please?

Posted at 3:14PM on Dec 28th 2007 by kimmm

17. Paris is in even better shape if he does this. Don't feel too sorry for her. It's amazing that the NY Times and other financial publications haven't even covered this story. They recognize it's all spin to make them look, as a family, like they actually care about anyone but themselves and are being sacrificed. It's just a tax dodge. They give the money to a foundation, the foundation pays all of their living expenses tax-free forever. The principle is never spent, the family uses 90% of the profits from the annual principle appreciation and 10% goes to the charity. It appears, that he may be just repeating the land grab he did with his father and has a very smart PR company making him look like an angel. In their case death is inevitable but taxes for the Hilton family may not be.

Posted at 5:01PM on Dec 28th 2007 by Astrid

18. It’s a way to tax exempt your money, could you imagine the taxes owed on that kind of money every spring?

Posted at 3:18PM on Dec 28th 2007 by Jizy

19. from Conrad Hilton Foundation website
"The Foundation, Fund and related entities have total assets of approximately $2.5 billion. Since its creation, the Foundation and Fund have distributed nearly $450 million for charitable projects throughout the world."

With 2.5 billion, why are they only donating 18% of their funds? 450 million is a drop in a bucket when you consider their entire assets. I call BS on their actual charitable works

Posted at 3:18PM on Dec 28th 2007 by Paul

20. 18%
No no no, that’s since the foundation’s inception going back, what, sixty years?
We’re talking somewhere around 1%.
What’s the current tax rate on $4.5 billion nowadays, 40%?

Posted at 3:21PM on Dec 28th 2007 by Jizy

21. He's going to give it to MS. right? Didn't his skank granddaughter promise to dedicate her life to charity just a few short months ago. Family foundations are total BS in many cases. If he truly wanted to donate it to worthy causes he'd do so directly. He wouldn't continue to fund a foundation that his heirs will draw salaries from. Plus his cash still has years to year hundreds of millions in interest to pad the amount the family will receive directly. It's all about greed. We'll be dealing with the uneducated, empty and superficial lives of Paris and her relatives for years to come. Seriously, don't feel bad for them yet,. They still stand to inherit more money than most people in this world ever see in a lifetime. She's still coming out ahead by millions of dollars. The apples don't fall far from the tree.

Posted at 3:22PM on Dec 28th 2007 by Big Red

22. IT IS A (TAX SCAM FOR THE RICH) !!!!. MOST OF THE BOARD, ARE (HILTON'S)!!!!. THEY "SAY", THEY HELP THE BLIND AND POOR IN "AFRICA"!!!!. THE BEST PART OF THIS, SO CALLED "FOUNDATION", IS THAT YOU CAN "NOT", AND I REPEAT "" CAN NOT"", APPLY FOR A GRANT FROM THIS SO CALLED "FOUNDATION", THEY HAVE TO COME AFTER YOU!!!!.

Posted at 3:23PM on Dec 28th 2007 by NO SURPRISE HERE!!!

23. joke.

Posted at 3:25PM on Dec 28th 2007 by Celebuspawn

24. It looks like Paris will have to resort to getting paid for what she
used to give away freely. I don`t suppose there`ll be many takers.
It couldn`t have happened to a better person

Posted at 3:26PM on Dec 28th 2007 by TaintedLove

25. First, Paris will never have to work a day in her life. Her family already received over $100 million from Conrad. Second, her Dad, Rick, has a huge real estate portfolio, mostly made up of Hilton assets and various Hilton construction projects. Third, even if Paris didn't receive a dime from her granfather or father, she would still make more than you poor slobs, since Paris can make $100,000 to $400,000 per party appearence. She's already made $6 million from parties, publicity shots, endorsement deals, etc. Heck, Charliz Thereon made $20 million to endorse a watch and she only wore it three months. Paris can make much more. Fourth, the Foundation only gives away a small percentage of their assets because the assets are invested. All foundations do that. Paris can sit on the board of the charity and get paid $2 million for not even showing up. Fifth, she could clear millions for just putting her name on a perfume or on some clothes. They may not sell alot of Paris Hilton clothes in America, but overseas - like in Japan - she could make $10-40 million/yr.

So, don't worry. Paris will never go broke or need a job.

Posted at 3:33PM on Dec 28th 2007 by Paris' Agent

26. Page 3 and 4 of the book chapter are scanned upside down.

Posted at 3:32PM on Dec 28th 2007 by page 3, 4 upside down

27. You gotta wonder if the constant embarrassment, a throw back to the Hilton families lost generation of the 60's, prompted his decision. Sad that something so amazing, so skillfully built, will not be handed to someone within the family to continue on with...this pretty much takes the Hilton's out of league with the Kennedy's or other American elite families. The next generation will be well-off, but not have enough time on it's hands to embarrass the family name as Paris has done.

Was it worth it, blondie?

Posted at 3:33PM on Dec 28th 2007 by San

28. You know what prompted his decision? Inheritance tax, ALL rich people do this. Her grandpa is getting older, he has to make sure the government doesn’t get their hands on it after he dies.

Posted at 3:40PM on Dec 28th 2007 by Jizy

29. Her grandfather is stupid if he doesn't think for one minute that his kids and grandkids are going to do with his wishes what he did with his own fathers. No wonder Paris is such a twit....no morals or integrity going all the way up to grandpa! He's nothing but a thief and she's nothing but a tramp....no big surprise!

Posted at 3:48PM on Dec 28th 2007 by cc

30. Can't say that I feel sorry for anyone in this. Greed and selfcented people is all I see when I look at them.

Posted at 3:51PM on Dec 28th 2007 by 19th Nervous Breakdown