Kathy Hilton's Grecian Formula

One reason KathyHilton is just thrilled about her daughterParis’s engagement to Greek billionaire shipping heirParis Latsis is that she’s hoping the union will solveher husband’s financial woes, sources say. While the tabs typically gushabout the elder Hiltons’ “$1 billion fortune,” Kathy and herhusband Rick have long scraped by on freebies and a modesttrust fund. “The truth is, there are so many Hiltons out there that eachone is due only a few million,” a source close to the family says.“Paris is the only one who is actually making her ownmoney”—an estimated $10 million last year, from commercials, her perfume, appearance fees, and share of the earnings from One Night In Paris. While that’s certainly not chump change, in the circle ofthe absurdly rich it barely registers. “Kathy and Rick are hoping thatwith Latsis’s money behind them they’ll finally be able to claimtheir rightful place among the jet set,” says the source. “A fewyears ago filmmaker Jamie Johnson didn’t even considerthe daughters rich enough to use in his documentary Born Rich.”Our cynical source says that Paris, who received a black ferrari as an engagement present, also has a game plan of her own: “She’lldefinitely get pregnant very quickly. It’ll guarantee her an income forlife.” Hilton’s rep, Rob Shuter, laughed offquestions about the Hilton family’s motives via e-mail: “LOL. Parisand Paris met, fell in love, and want to get married. That simple.”