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Barron Hilton Net Worth, Biography & Wiki 2017
William Barron Hilton I was born on the 23rd October 1927, in Dallas, Texas, USA of German and Norwegian ancestry. He is best known for being a businessman and the heir to Hilton Hotels Corporation. He is also recognized as the owner of the NFL San Diego Chargers and a partner of the American Football League. His career in the business industry has been active since the early 1950s.
Have you ever wondered how rich is Barron Hilton? According to estimates from sources, Tom counts his net worth at the impressive amount of $4.5 billion, which has been accumulated through his career in the business industry.
Barron Hilton Net Worth $4.5 Billion
Barron Hilton was raised with three siblings by Mary Adelaide Barron and Conrad Nicholson Hilton, who was the founder of Hilton Hotels. When he was a child, Barron was very interested in aviation, thus, he learned to fly at the age of 17. During World War II, he served in the US Navy as a photographer, then when military service ended, Barron continued his education at the University of Southern California Aeronautical School, from which he graduated as a 19-year-old.
Before Barron continued in his father`s steps, he tried a career on his own in business, and was quite successful. Hilton acquired the Los Angeles-area distributorship of Vita-Pakt Citrus Products, was also one of the founders of the MacDonald Oil Company, and in addition to that, he also managed to fulfill his desire to own an airplane company, since he founded Air Finance Corporation.
All this increased his net worth to a certain degree, but then he joined Hilton Hotels, becoming the vice-president of the company in 1954. Ever since then his role in the firm gradually grew, until he took over the firm in 1979, becoming its chairman. However, he also had a representative role in the company`s management, even before taking over completely, incorporating Carte Blanche, a credit card, used in the Hilton Hotels by its customers. However, it wasn`t quite as successful as Barron hoped it would be, and it was eventually sold to First National City Bank in 1966.
Afterwards, his next venture was the try to incorporate casinos in the hotel services, and as a result, Barron was the one responsible for creating Pot o’Gold slot machines.
After the death of his father, Barron inherited the company, however, 97% of its shares were the ownership of the charity foundation Conrad N. Hilton, but in his will, Conrad left the possibility for his son Barron to buy the shares, and keep the company in family ownership. It was all settled in court in favor of Barron, however, he also left his ownership of the company to the charity foundation.
Apart from the successful management of the Hilton Hotels, and its increase in worth, popularity and size, Barron also dabbled in sports, as he bought the Los Angeles Dodgers in 1960, and was the owner of the team for six years, before dedicating himself completely to Hilton Hotels. He firstly moved the team to San Diego, giving them the name of San Diego Chargers. Hilton also served as the president of the AFL, and helped to merge with NFL. However, six years after he founded San Diego Chargers, Barron became more focused on his father`s firm, and eventually sold his stake for $10 million, increasing his net worth by a large degree.
When it comes to his personal life, Barron Hilton was married to Marilyn June Hawley from 1947 to 2004, when she passed away. With her, Barron has eight children and 15 grandchildren; of whom two are Paris Hilton and Nicky Hilton Rothschild, famous reality TV stars. As with many other billionaires, Barron Hilton is recognized as a generous philanthropist, who has been active in the Conrad N. Hilton Foundation, established in 1944. His current residence is in Holmby Hills, Los Angeles.