Paris Hilton’s potential inheritance cut by 97%

Socialite Paris Hilton's potential inheritance has been slashed by her grandfather Barron Hilton - after he revealed plans to donate 97% of his $2.3 billion fortune to charitable causes.

According to Reuters, the wealth includes the $1.2 billion Barron Hilton stands to earn from both the recent sale of Hilton Hotels Corp. and the pending sale of the world's biggest casino company, Harrah's Entertainment Inc.

The money is to be placed and held in a charitable trust that will eventually benefit the Conrad N. Hilton Foundation, raising its total value to about $4.5 billion, the foundation said in a statement.

Barron Hilton, chairman of the foundation, intends "to contribute 97 percent of his entire net worth, estimated today at $2.3 billion, including the created trusts, at whatever value it is at the time of his passing," the foundation said.

Jerry Oppenheimer, who profiled the Hilton family in his 2006 book 'House of Hilton,' has said Barron Hilton is embarrassed by the behaviour of his socialite granddaughter Paris and believes it has sullied the family name.

Barron Hilton, 80, has not commented on Oppenheimer's remarks.

The foundation supports projects that provide clean water in Africa, education for blind children, and housing for the mentally ill. Its aims, based on Conrad Hilton's will, are "to relieve the suffering, the distressed and the destitute."

"Speaking for the family as well as the foundation, we are all exceedingly proud and grateful for this extraordinary commitment," said Steven Hilton, one of Barron's sons and president and chief executive of the foundation.

Paris Hilton was not available for comment on her grandfather's plans for his fortune.