Hilton To Donate $1.2 Billion To Family's Charity

A day after Christmas, hotel heir Barron Hilton said he will give about $1.2 billion to charity.

An announcement Wednesday said Hilton will donate the money to the Conrad N. Hilton Foundation, a charity founded by his father six decades ago.

He's the foundation's chairman.

The funds will come from this year's sale of the Hilton Hotels Corp. and the pending sale of Harrah's Entertainment.

The money will go into a trust but eventually will find its way to the foundation.

The charity said Hilton also intends to leave the bulk of his net worth to the foundation when he dies.

Right now, he's worth an estimated $2.3 billion.

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