How pissed are the Hilton's?

Dude. They've known forever that he was giving it all to charity.

Guess they're going to be homeless now

quote:

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Billionaire Conrad Hilton dies and leaves an estimated fortune of $3.5 billion.

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Conrad Hilton - or "Connie" as me and Don Draper called him - died in 1979.

This was his son Barron who just died.

prayers sent

quote:

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for the entirety of his family

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you left out the word 'degenerate'

And I don't blame him

I think he did. Instead of paying estate tax on 3.5 billion they’re paying tax on 100 million. The other 3.4 billion goes into a charity run by the family so they can still spend money and say it’s for the charity.

...the Hiltons?***

That’s not how the wealthy handle their estate OP. Anything given to the family, most likely has been in trusts for years so was not affecting his net worth at death anyway.

You put money in a trust early on because at the time you put it in trust it counts against your death tax amount. Then it grows death tax free in the trust.

This is like Bill Gates saying he is giving away 99% of his money. Well sure but he put 1% away 30 years ago that’s now likely worth $1 bil. Boo hoo for the kids.

Given all that, that’s still a shite ton of money given away.

Can a charity actually manage 3.4 billion dollars?