Conrad N. Hilton Foundation
The Conrad N. Hilton Foundation is an American non-profit charitable foundation, established in 1944 by hotel entrepreneur Conrad Hilton. It remained relatively small until his death on January 3, 1979, when it was named the principal beneficiary of his estate. In 2007, Conrad's son, Barron Hilton announced that he would leave about 97% of his fortune to a charitable remainder unitrust which names the foundation as the remainder beneficiary.
Conrad N. Hilton Foundation
Conrad Nicholson Hilton was an American businessman who founded the Hilton Hotels chain. From 1912 to 1916, Hilton was a Republican representative in the first New Mexico Legislature, but became disillusioned with the "inside deals" of politics. In 1919, he purchased his first hotel, the Mobley Hotel in Cisco, Texas, for $40,000, and subsequently capitalized on the oil boom. The rooms were rented out in eight-hour shifts. He continued to buy and sell hotels, and eventually established the world's first international hotel chain. When he died in 1979, he left the bulk of his estate to the Conrad N. Hilton Foundation.
Hilton in 1962
Mobley Hotel in Cisco, Texas.