Saturday, September 1, 2007

UPDATE: Paris Hilton

Although there has been rampant speculation about whether she did or did not, Your Mama hears that Paris Hilton did indeed buy the big yellow house up in guard gated Mulholland Estates that all the gossips and tabs have recently declared is the new home of Princess Paris.

And we hear from our Fairy Godmother in Beverly Hills that the deal has closed for $5,900,000, which is not too far off the $6,250,000 asking price. Looks like Paris' uncle Maruricio drove a hard bargain.

So now the world sits tight and waits for the place to get decorated in classic multi-millionaire starvelet style with some leopard print carpet, a giant self-portrait above the fireplace and a greased stripper pole so that all the glossy tabs can print pictures when ol' Paris' new book comes out and she needs a little PR push. Paris gurl, we have a better idea, call Your Mama and let us showcase your new home on our little blog.

Source: Pacific Coast News (photo)

32 comments:

nice gay decorator said...

Paris honey do yourself a big favor and call the queen of glam Ms Kelly Hollywood Regency.It's worth spending the money on a big stlyle,big name decorator.PLEEEEEEEEZE!

Anonymous said...

Dosn't this girl make $10mil+ a year? Who knows how rich this bitch is?
I really would expect more extravagant a purchase from the queen of excess. Beverly park maybe. If anyone could justify such security...not to mention audacious consumption...it's Paris.

Phoenix said...

Absolutely the best choice she could have made among currently available properties at the time for the price considering her particular needs.

Anonymous said...

Who are you people to judge? If she likes the house and buys it thats her decision, it doesn't concern any of you.

Anonymous said...

^

I agree, people judge so easily ...

a) nice gay decorator - her godmother is a celebrity interior designer - she'll be hired.

b) anon 1 - why does she need a 30,000 + sq ft beverly park monster? she's lives alone!

c) phoenix - you're right though i must admit ... i'm not rlly keen on any of the guarded communities in west l.a ... other than the colony in malibu.

overall i hope she has a more peaceful life here ... i think it's ridiculous all the tourists outside her house constantly ... it's not so much that they're waiting on her to come out but the fact that they buzz the intercom constantly ... it's just so rude - even celebrities deserve peace when they're inside their own property. Amen!

Anonymous said...

also mama ... can we have some manhattan posts - i need a break from west l.a - surely someone in n.y has been buying & selling?

Linda Hoof said...

Good God the girl is all over the news,but there really is no news there.It's like trying do do a story on a lone Kleenex tissue!

D A said...

$6 mil and no back yard, brilliant.

But when youre a high end 'ho on the go I suppose you dont need one.

Anonymous said...

I hope shes spending her interest and not principle.

Shes not THAT rich. Grandpa Hilton cut her out of most of the fortune.

She cant spend $5 mil a year indefinitely.

Jordy said...

she probably bought this house because she needs room to give parties plus she has a lot of dogs and other pets and she'll definitely will change this place to her own "taste"

Anonymous said...

"Shes not THAT rich. Grandpa Hilton cut her out of most of the fortune. "

Don't believe everything you read - She went to live with Grandpa Hilton when she was released from prison - He also just sold his remaining stake in Hilton hotels so he made a couple billion more to add to the already enormous piggy bank.

Phoenix said...

yep Anon, the cutting her out of his will rumor surfaced in New Zealand and subsequently only got distributed through it. It happened the week after rumors surfaced that Britney bought another home which also turned out to be false. Both occurred during a 2 week news slump, of course. One nugget that is true.. I just read that Cher took a tumble down her stairs in Malibu and broke the 3 middle toes in her left foot. Ouch, that's gotta hurt.

Anonymous said...

Yes, but Paris was not included in the last Billion dollar sale.

As per Conrad Hilton's request in his will, the majority of the funds were NOT to be distributed to the family and were instead instructed to be sent to charitble trusts.

Im not saying Paris is not broke. ButhHer inheritance is not a mega windfall. Shes not receiving hundreds of millions.

Paris will not inherit the large portion of the Hilton hotel fortune people assume she will.

Oppenheimer said: "While in name she is a Hilton, she is not the heiress the world has been led to believe. In fact she has to work her butt off to live the Hilton lifestyle. The bulk of the Hilton fortune is going into the Hilton Foundation. Paris is one of many grandchildren and great-grandchildren who have to work for a living"


Im just saying shes on in her 20's and shes spending millions here and there. Its adds up.

Phoenix said...

But, Barron Hilton contested his father's decision and prevailed in court in 1988.

Phoenix said...

Re: Conrad Hilton
He left US$250,000 to each of his surviving siblings and US$10,000 to each of his nieces and nephews. Most of his assets were willed to the Roman Catholic Church and charities. However, Conrad's son, Barron, contested the will and won in 1988. The net worth of Barron and his descendants then jumped to over US$335 million.
Link and look in the Biography section.

Anonymous said...

According to Wikipedia, Forbes placed Barron Hilton's 2006 worth at an even $1 billion. And Reuters says that the $1 billion profit realized by the sale of Barron's 5.3 percent stake in the Hilton company is earmarked for charity.

Barron Hilton has eight children. Assuming he leaves each an equal share, Rick Hilton inherits $125 million. Split four ways among Rick's children, it's a little over $31 million for Paris.

If Rick has $300 million of his own (as Wikipedia suggests, but I'm not so sure) a four-way split leaves Paris $75 million.

I'm sure there are trusts of some kind, but it looks like the best-case scenario for Paris in the major-endowment category is $106 million. And since her father is only 52 years old, it might be decades before she sees it.

So I agree with the argument that she's set for life, but that there isn't some bottomless well of Hilton cash at her disposal.

Anonymous said...

well i'm glad the catholic church has more money to settle lawsuits.
conrad hilton, the pedophilia enabler

Phoenix said...

Anon @ 6:47 PM, if you're Anon @ 4:37 PM, the emphasis you placed on Conrad's will instructions gave the impression they were carried out. Since they weren't, I merely tried to correct the record. Thanks for responding.

Phoenix said...

Anon @ 6:51 PM, the Catholic Chruch never got the money willed to them by Conrad. His son Barron, challenged the will in court and won, receiving $335 million in 1988. Barron is now worth over a $Billion.

Anonymous said...

bringing down the price 300k on that price range is a joke mama. i brought that down on a million. closed for 720. Mauricio getting it for 5.5 or less would be something. 5 mill and he is good. under 5 mill and he is a stud.

Anonymous said...

Hey Phoenix. I was anonymous at 6.47, but not anonymous at 4.37. I agreed with 4.37's conclusion, but had a different rationale...

Paris said...

Ok, thanks peeps. Paris only stands to inherit in the $100 million + range, gotcha.

Phoenix said...

Well, that is the 2nd time I've typed the celeb's name I was writing about in the space for my Name. It could only be intermittent dyslexia, lol. This will no doubt make smiley's day :)

Anonymous said...

Phoenix ... Perhaps subconsciously you want to be her?

Yes .. Barron H is worth over a billion but I'm not sure that the recent billion or so he just received is earmarked for charity ... especially considering his own Father did this which he strongly disagreed with. He has like 30+ grandkids so it was inevitable that Paris wasn't going to be left billions but at the end of the day she is earning around $7M - $8M a year & will have a pretty hefty trust fund ... the girl is far from poor.

p.s - Don't trust Forbes ... they make so many mistakes when it comes to the personal wealth lists ... They are ridiculed in their findings when it comes to their annual 'Billionaires list'

Phoenix said...

No, I don't want to be anyone other than myself, consciously or subconsciously, and I really don't get the multitude of long Paris Net Worth doctoral thesis theories cropping up in this diary left and right but apparently it's important to some people, so you go ahead. I've said more than I wanted to already.

Anonymous said...

^

Clearly someone has lost their sense of humor today ... It's also rather ironic you moaning about ppl posting about paris' wealth when you constantly ramble on & on about subjects that are nothing to do with real estate ... hypocritical? yes phoenix!

Phoenix said...

huh? The only point I was really interested in was the Conrad Hilton will vs. the Catholic Church court case, and the impact it's outcome had on the family in general. If that makes me a hypocrate in your mind, I guess I'll just have to accept it. ~Peace~

Linda Hoof said...

What the fuck are you going on and on about?Drop it!

Anonymous said...

Enough of Skank Paris - I wanna get back to CHER falling down her Malibu stairs and breaking only her toes. I'm surprised it wasn't a HIP.

Phoenix said...

Not much to tell Anon. I stumbled upon a brief article about it on a music site and haven't seen anything since. I did run across something else while looking for new info for you though. Here's a link to the Architectural Digest spread of Cher's Malibu home back in 2002. The furnishings you'll see are probably all different now since she auctioned everything off last year. Here's another link that features a ground level full view of the back of her home as it's first slide.

Hippie Canyon said...

I remember the developer of Mulholland Estates working very hard on changing the zip code on this project from 91423 to 90210. I don't care if you're entering off of Mulholland or not... as far as I'm concerned this house is in Sherman Oaks. Not that there's anything wrong with that - But this house is just big & boring.

Anonymous said...

I actually like the house in general. It is that hideous pool which ruins it, Paris should have that removed immediately and put something in which is lusher and more glamorous because the current pool looks tacky and cheap. Aside from that the neighborhood should suit her well because of the privacy and the fact that it's in Sherman Oaks, oops I mean Beverly Hills, thus it's too out of the way for the paparazzi.