Hilton Fortune To Go To Charity

Joshua Stein · 12/27/07 02:35PM

We relayed this from an Australian report back in July—and now every media outlet agrees that the Hilton pater familias Barron Hilton will not be leaving his fortune to his hideous family. Funny thing! Paris Hilton, at least, doesn't need the money. The sex tape and her business acumen have taken care of that. Now, Barron's eight children, including Paris' father Rick, could use the cash. Interesting historical note! Barron was left out of his father Conrad's will—and contested the will and won. Guess he doesn't feel like paying it on downward.

Joshua Stein · 10/29/07 10:50AM

How will the rich kid plutocrats of tomorrow learn to manage the $41 trillion that will be coming their way in the next 50 years? It's easy! At the steamship-era rich Gowen family weekend (can't wait to see the embroidered t-shirts!) they brought an expert, Joline Godfrey, the author of "Raising Financially Fit Kids": "The preteens made posters showing what they would like to spend their money on and what causes they would donate to. Teenagers learned about consumer culture. Twenty-somethings received instruction on starting a small business and the financial life skills appropriate to new college graduates." Skills like... what headbands to buy and where to get the best blow? They just don't teach that to the poors. [NYT]