Richard Hilton is a multi-millionaire by net worth and one of the richest people in the real-estate sector on the West Coast of the US in 2024. Not surprising for someone who is a member of one of the world’s most famous business families and has also been dealing in luxury real estate for much of his life. But exactly how much fortune has Hilton amassed to date?
Richard Hilton, also known as Rick, is the husband of American socialite and TV personality Kathy Hilton, who is one of the main cast members of the reality TV show The Real Housewives of Beverly Hills (RHOBH). They have four children, including socialite Paris Hilton and fashion designer Nicky Hilton. RHOBH stars Kyle Richards and Kim Richards are his sisters-in-law.
Hilton is the sixth child of Barron Hilton and grandson of Hilton Hotels chain founder Conrad Hilton. As such, he is part of the mega-rich Hilton family and heir to the fortune his grandfather and father built in their years. However, both his grandfather and father left their billions of net worth to charity. In fact, at the time of his death on 19 September 2019, Barron Hilton left only about three per cent of his fortune of over USD 3 billion (around RM 14 billion) to be distributed among all the members of the Hilton family. Thus, Richard Hilton’s share in the family’s fortune is next to negligible.
But the third-generation Hilton scion was already meant for bigger things. He decided to pursue his interest in real estate and has been tremendously successful in his career, first with the real estate agency Hilton & Hyland and now with Hilton & Hilton.
All about Richard Hilton: His net worth, earnings and assets
What is the exact net worth of Richard Hilton in 2024?
Richard Hilton has a net worth of around USD 300 million (around RM 1.4 billion) to USD 350 million (around RM 1.65 billion), according to multiple media reports. Several reports suggest that his net worth is shared by Kathy Hilton, which would mean that theirs is a combined fortune. Interestingly, The Wall Street Journal (WSJ) reported in 2014 that the two had a net worth of USD 300 million (around RM 1.4 billion).
This indicates, that their net worth in 2024 would be much more than what most reports indicate, which can be gauged from the record-breaking sales Hilton achieved in recent years.
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Hilton started his own real estate investment firm in 1984, whose annual sales grew to USD 250 million (around RM 640 million at the time) before he co-founded the real estate firm Hilton & Hyland with Jeffrey Hyland in Los Angeles in 1993. The firm soon became one of the most successful agencies, selling high-end luxury properties in the region.
Rick served as the chairman of the business till Jeffrey’s passing in 2022. He subsequently left the company, handing over the reins of the business to Jeffrey’s widow Lori Hyland — who is currently the sole owner of Hilton & Hyland, whose name remains unchanged.
Rick later formed Hilton & Hilton, a new real estate firm with his son Barron Hilton. Rick serves as the firm’s chairman, while his son is the co-CEO with his wife Tessa Hilton — a member of the German noble family known as the House of Walderdorff.
The firm’s official site indicates that they are among the premium real-estate firms in Los Angeles. Listings as of 10 April 2024 show 25 properties for sale at USD 50 million (around RM 237 million) or above. A seven-bed, 20-bath property in Los Angeles’ Bellagio Rd commanded the highest asking price of USD 195 million (around RM 923 million).
Sales records of Richard Hilton
Richard Hilton is undoubtedly a big name in the world of American real estate, having been involved in several record-breaking deals. Among them was the 2011 sale of the Spelling Manor for USD 85 million (around RM 255 million at the time), which was a record at the time. Hilton represented both the buyer and the seller. He was again in the spotlight for being the buyer’s representative at the sale of the Fleur de Lys estate in Beverly Hills in 2014. The French-style chateau had an asking price of USD 125 million (around RM 408 million) but was eventually bought for USD 102 million (around RM 333 million). It still broke the then record for the highest-priced home sold in Los Angeles County.
Hilton’s records include selling the Doheny Estate for USD 34 million (around RM 111 million), which was the largest sale in Bel Air in 2014. His records include the largest sale of dirt in Malibu for five lots for Oak Tree Capital in 2018.
He was the seller’s representative in 2019 at the USD 150 million (around RM 700 million) sale of Chartwell Estate, making it the highest sale in Los Angeles at the time. The property belonged to former Univision chairman and CEO Jerry Perenchio who passed away in 2017.
Interestingly, the property was bought by Lachlan Murdoch — son of billionaire media mogul Rupert Murdoch. At the time, the younger Murdoch was the executive chairman and chief executive officer of the sister company Fox Corporation (Fox Corp.). In September 2023, he succeeded his father as the chairman of News Corporation (News Corp.) alongside his other roles.
His most recently secured high-level real-estate deal was struck with National Basketball Association (NBA) star LeBron James. The first active NBA player to become a billionaire, James purchased a Beverly Hills mansion for USD 36.75 million (around RM 174 million) from the estate of the late Lee Phillip Bell. Hilton was involved in the deal.
Besides sales and purchases, Hilton has also been instrumental in the development and sale of The Brentwood Country Estates. Located in the Los Angeles’ Brentwood neighbourhood, the community is made up of 13 ultra-luxury homes. Among its elite residents are NFL star Tom Brady and rapper-record producer Dr. Dre.
How much Richard Hilton may have earned in his career
In all, Richard Hilton has sold real estate worth over USD 50 billion (around RM 236 billion) in more than 30 years of his career, according to his profile on Hilton & Hilton. Since he has been involved as an agent almost throughout his career, he would have made millions as commission from the deals.
According to Forbes, the commission for real estate agents in the US is around 5-6 per cent of the selling price. Buyers and sellers may have different agents where the commission is split in an agreed-upon ratio.
Assuming that Hilton earned a minimum commission of 2.5 per cent representing only one party, he would have made USD 1.25 billion (around RM 6 billion), before taxes, from his career sales. Of course, this is a ballpark figure, and he could have possibly earned more than this. If he were a Malaysian, Hilton would be the sixth-richest person in the country in 2024 after Robert Kuok and Quek Leng Chan.
Breaking the total figure down to Hilton’s roughly 30-year career gives an earnings figure of around USD 41 million (around RM 194 million) per year.
Assets owned by Richard Hilton
Part of the net worth of Richard Hilton is composed of the properties he and Kathy Hilton bought for their personal use.
The couple were in the news in January 2024 for selling their Bel-Air mansion for USD 25 million (around RM 118 million) to Zong Qinghou, the Chinese billionaire who founded beverage giant Hangzhou Wahaha Group. Zong passed away on 25 February 2024.
It was their most famous residence, which they had acquired for USD 9.2 million (around RM 35 million at the time) in 2015 in a different condition. The original 1930s mansion was torn down and then rebuilt from the ground up by the Hiltons. It thus became an outstanding example of modern architecture in the area.
The Hiltons, thus, may have expected that the property would get them the desired USD 55 million (around RM 260 million) asking price when they first listed it in September 2021. But there were no takers until they lowered the price substantially to around USD 39 million (around RM 184 million). Therefore, Zong’s final purchase price was 55 per cent less than what the Hiltons asked.
One of their known property purchases from an earlier period is a USD 3.3 million (around RM 12.5 million at the time) mansion in the Hamptons town of Water Mill, New York. It was bought in 1999 and is spread over an area of 12,140 square metres. The mansion on the property has seven bedrooms and was the primary residence of the Hilton family for some time.
After renting it out during summers for around USD 300,000 to USD 400,000 per month (around RM 1.4 to 1.8 million), Rick and Kathy listed it for sale in February 2024. The asking price has been set at USD 15 million (around RM 71 million).
The couple apparently still owns a property in New York. It is an apartment in New York City’s Pierre Hotel, which they bought in 2014 for USD 2.5 million (around RM 8 million at the time).
Richard Hilton on Instagram
Richard Hilton has a following of around 180k on his Instagram account. His feed looks like that of a doting grandfather, devoted to his grandchildren.
In fact, his Instagram account is genuinely sweet, especially because of the numerous posts that make up his memories of the unforgettable moments he spends with his grandchildren.
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While most of the posts revolve around his adorable grandkids, Hilton also shares snaps of his vacations at different places, including France and Maui, or spending time with his family.
(Hero and Featured images: Hilton Hilton/@hiltonhilton/Instagram)
Frequently Asked Questions (FAQs)
– How much is Richard Hilton’s net worth in 2024?
The combined net worth of Richard Hilton and Kathy Hilton in 2024 is estimated to be around USD 300 million to USD 350 million.
– How much does Richard Hilton earn annually?
Richard Hilton may have earned around USD 41 million per year on average when several assumptions are taken into consideration.
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Manas Sen Gupta writes at the intersection of tech, entertainment and history. His works have appeared in publications such as The Statesman, Myanmar Matters, Hindustan Times and News18/ETV. In his spare time, Manas loves studying interactive charts and topographic maps. When not doing either, he prefers reading detective fiction. Spring is his favourite season and he can happily eat a bowl of noodles any time of the day.
