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Paris Hilton's Imaginary Windfall?

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We didn’t expect to spend the morning thinking about Paris Hilton’s renewed friendship Lindsay Lohan. It’s a bit, well, far afield from our usual stomping grounds. But with the gossip pages reporting that friends of Paris were attributing the “frennassaince” to Paris’s joy at the Blackstone Group buying the hotel company that bears her favorite name, the topic was irresistible.
Several readers have brought to our attention the fact that Hilton probably won’t personally benefit much from the sale. Paris Hilton’s grandfather, Barron Hilton, is the co-chairman of Hilton Hotels and personally owns around 5% of the company, according to published reports. According to Reuters, however, Paris Hilton is expected to get little from the sale. Barron is “expected to give the roughly $1 billion that he stands to get from the sale of his 5.3 percent stake to the Conrad N. Hilton Foundation,” Reuters says.
Ordinarily, we’d conclude that this indicates that the reports from Paris friends were wrong. If she’s not getting much from the sale of the company, that couldn’t really be the source for the joyous feelings that have led her to rekindle her friendship with Lindsay, right? But life isn’t always so simple when it comes to Paris.
Paris might not realize she doesn’t stand to gain that much from the sale. In the past, the heiress has had a difficult time distinguishing between her immediate family’s fortune and money controlled by the charitable trust that bears her great-grandfather’s name. Shortly after Hurricane Katrina wreaked havoc on New Orleans and nearby areas along the Gulf Coast, Paris Hilton reportedly told US magazine that she and her family had donated $6 million to the victims. Radar Online (in a story which we, oddly enough, cannot actually find online) revealed, however, that the money had come from the Conrad N. Hilton Foundation, and not from Paris or her immediate family.
We’re not even going to pretend we made the appropriate phone calls to straighten this all out. No one could be reached for comment because we didn’t reach out to them. We feel stupider just for having thought about this long enough to compose this post. We now return you to your regular programming.
Earlier:How Steve Schwarzman Totally Got Paris Hilton and Lindsay Lohan Back Together Again!