Richard Hilton Net Worth

What Is Richard Hilton's Net Worth?

Richard Hilton is an American businessman who is the Chairman and co-founder of Hilton & Hyland, a real estate brokerage firm based in Beverly Hills. Richard Hilton has a net worth of $350 million. That is a combined net worth with his wife since 1979, Kathy Hilton. Rick and Kathy are perhaps best known for being the parents of socialites Paris Hilton and Nicky Hilton.

Early Life

Richard "Rick" Hilton was born Richard Howard Hilton on August 17, 1955, in Los Angeles, California. He is the sixth of eight children of Barron Hilton and Marilyn June. His grandfather is Hilton Hotel founder Conrad Hilton. His brothers and sisters are William Barron Hilton Jr. (born 1948), Hawley Anne Hilton (born 1949), Steven Michael Hilton (born 1950), David Alan Hilton (born 1952), Sharon Constance Hilton (born 1953), Daniel Kevin Hilton (born 1962), and Ronald Jeffrey Hilton (born 1963). In 1978, Rick graduated from the University of Denver with a degree in hotel and restaurant management.

Career

Hilton joined the New York office of Eastdil Secured, a real estate investment banking firm. In this role, he specialized in securing institutional investors and pension funds in various transactions. Richard formed Hilton Realty Investment to handle commercial real estate in 1984 and obtained his broker license in November 1985. Hilton and Jeffrey Hyland were issued a corporation license for their real estate firm Hilton & Hyland in 1993. Among their many famous developments are Brentwood Country Estates. Former "Million Dollar Listing" cast members Chad Rogers and Josh Altman, Anne Heche's former husband, Coley Laffoon, and Richard D. Zanuk's daughter-in-law, Marisa, are among Hilton & Hyland's 106 salespeople. Hilton & Hyland specializes in homes and estates in Beverly Hills, Holmby Hills, Bel Air, Brentwood, Pacific Palisades, Malibu, and the Hollywood Hills, as well as estates from Santa Barbara to San Diego. In 2006, Williams and Williams joined forces with Hilton & Hyland Real Estate Inc. to develop and distribute projects in the heavily sought-after luxury real estate market.

In June 2011, Hilton earned a record-breaking $3 million dollar commission upon the sale of Aaron Spelling's estate to Petra Ecclestone. It had sat on the market for two years at a whopping $150 million. Hilton represented Candy Spelling and Ecclestone. In 2013, the company reported almost $2 billion in sales.

Outside of his lucrative career in real estate, Richard has dabbled in work as a producer. He produced "Curfew", a 1989 crime drama. He has also served as the executive producer on several television series that feature his daughters: "I Want to Be a Hilton" (2005), "Paris Hilton's My New BFF" (2009), and "The World According to Paris" (2011).

Personal Life

Hilton and Kathy Avanzino married on November 24, 1979. Their four famous children are Paris Hilton (born 1981), Nicky Hilton (born 1983),  Barron Hilton II (born 1989), and Conrad Hughes Hilton (born 1994). Richard has seven grandchildren. He and Kathy live in the Bel Air neighborhood of Los Angeles.

Personal Real Estate

In 1999, Rick and Kathy Hilton paid $3.385 million for a three-acre sprawling property in the Hamptons town of Water Mill, New York. Over the years, they have rented the seven-bedroom property over the summer seasons from $300,000 – $400,000. In February 2024, they listed their Hamptons mansion for just under $15 million.

In 2014, the Hiltons paid $2.5 million for an apartment in New York City's Pierre Hotel. In 2015, they paid $9.2 million for a large mansion in Bel-Air. They tore down the existing mansion. In September 2021, they listed this property for sale for $55 million. They finally accepted $25 million in January 2024. The buyer was Zong Qinghou, one of the richest people in China. Here is a video tour of their former Bel-Air mansion: