The Conrad N. Hilton Foundation has announced that Barron Hilton, who for several years chaired the foundation established by his father, has died at the age of 91.
Over the years, Hilton helped grow his father's $160 million bequest of Hilton stock to the foundation into an endowment of more than $2.9 billion. In 2007, the younger Hilton contributed $1.2 billion from the sale of the Hilton Hotels Corporation and Harrah's Entertainment to a charitable remainder unitrust and announced that 97 percent of his net worth would be transferred to the foundation after his death. The bequest is expected to boost the foundation's endowment to $6.3 billion, moving the foundation into the ranks of the twenty largest foundations by assets and making Hilton its most significant donor.
"The Hilton family mourns the loss of a remarkable man," said Steven M. Hilton, Barron's son and chair of the foundation's board. "My father was a loving husband to our mother, Marilyn, a wonderful role model to his eight children, a loyal and generous friend, a visionary businessman, respected leader, and passionate sportsman. He lived a life of great adventure and exceptional accomplishment."