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Conrad Hilton Net Worth and Biography
| Category | Details |
|---|---|
| Net Worth | $1 billion |
| Salary | N/A |
| Birthdate | December 25, 1887 |
| Birthplace | San Antonio, New Mexico Territory |
| Gender | Male |
| Height | N/A |
| Profession | Entrepreneur |
| Nationality | American |
What is Conrad Hilton’s Net Worth?
Conrad Hilton, the founder of the Hilton chain of hotels, had a net worth of $1 billion at the time of his death. His entrepreneurial endeavors and strategic business decisions allowed him to accumulate a significant fortune during his lifetime.
Highlights
– Conrad Hilton was an American entrepreneur and the founder of the Hilton chain of hotels.
– At the peak of his success, Hilton owned 188 hotels in 38 U.S. cities.
– Hilton actively pursued other business opportunities, including the Carte Blanche Credit Company and interest in the American Crystal Sugar Company.
– He strongly believed in the power of prayer and credited his mother for instilling him with a great sense of faith.
– Conrad Hilton’s descendants include Paris Hilton and Nicky Hilton, who have both achieved success in their respective fields.
Early Life
Conrad Nicholson Hilton Sr. was born on December 25, 1887, in San Antonio, New Mexico Territory. He received his education from various institutions including the Goss Military Academy, St. Michael’s College, and the New Mexico School of Mines.
During World War I, Hilton served in the U.S. Army and later became a Republican representative in the first New Mexico legislature.
Tragically, Hilton’s father passed away in a car accident while he was in France after World War I.
Career
Conrad Hilton learned about business at an early age while helping out at his father’s general store, which also included a 10-room motel. After pursuing various career experiences, Hilton decided to become a banker and moved to Texas in 1919.
However, when his plan to buy a bank fell through, Hilton instead purchased his first hotel, the 40-room Mobley Hotel in Cisco, Texas. The success of this venture led him to acquire and build more hotels throughout Texas.
Despite facing financial difficulties during the Great Depression, Hilton managed to retain control of his remaining hotels and expand his business ventures to California, Chicago, and New York. The Hilton Hotels Corporation, founded in 1946, became the world’s first international hotel chain.
Personal Life
Conrad Hilton was married three times. His first marriage was to Mary Adelaide Barron, with whom he had three children. After their divorce, Hilton married actress/model Zsa Zsa Gabor, and they had one child together. His final marriage was to Mary Frances Kelly.
Conrad Hilton passed away from natural causes on January 3, 1979, at the age of 90.
Net Worth Over Time
During his lifetime, Conrad Hilton’s net worth fluctuated due to various factors such as economic circumstances and business ventures. At the time of his death, his net worth was estimated to be $1 billion.
Components of Net Worth
Conrad Hilton’s net worth mainly consisted of his ownership stake in the Hilton Hotels Corporation, which included numerous hotels in the United States and abroad. Additionally, he had investments in other businesses such as the Carte Blanche Credit Company and the American Crystal Sugar Company.
Furthermore, Hilton’s philanthropic efforts played a significant role in his legacy. He established the Conrad N. Hilton Foundation in 1944, contributing a substantial portion of his personal fortune to support charitable causes.
In conclusion, Conrad Hilton was an influential American entrepreneur who paved the way for the modern hotel industry. His business acumen and dedication led to the establishment of the renowned Hilton chain of hotels. With a net worth of $1 billion at the time of his death, Conrad Hilton’s entrepreneurial success and philanthropic endeavors continue to leave a lasting impact.
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