Inside Paris Hilton's Multi-Billion Dollar Business

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0:00I was never a dumb blonde. I was just very good at pretending to be one.

0:03This is Paris Hilton

0:05the pop culture icon

0:07recording artist

0:09DJ

0:09and businesswoman.

0:11Often described as the original influencer.

0:19Here in New York at a hotel steeped in Hilton family history,

0:23we discuss creating the character that made her a household name.

0:27I realized at a very young age the power of a personal brand.

0:31Owning it.

0:32It's just incredible to be able to take my brand and my business to the next level.

0:36And proving the critics wrong.

0:38I didn't want to be known as the Hilton Hotel granddaughter. I wanted to be known as Paris.

0:44CNBC Meets: Paris Hilton

0:54I'm Tania Bryer and I've traveled to New York to meet Paris Hilton.

0:59I love New York. I was born here, so I always feel like I'm coming home.

1:04Paris grew up between here and Los Angeles where she lives today. But it was her time

1:09here in New York as a teenager that marked the start of her public profile.

1:14Moving to New York City, I was 15 years old. I was living here at the Waldorf

1:19Astoria and my sister and I just started getting invited to every

1:23single event and fashion show and it just like this whole new world opened up to me.

1:28And then all of a sudden I was page six every day and all the different fashion magazines, tabloids

1:34and everything and it was just like this whole new world and then just kind of creating this

1:40character almost and then getting 'The Simple Life 'and then that's how the world got to know me.

1:46What do you think was the biggest misconception about you at that time?

1:51People assume just because of my last name that you know she must be spoilt.

1:56Since I was a teenager, I've been working very hard to build this brand and all

2:01the product lines and everything I have none of this was handed to me,

2:04this is something that I worked very hard to do all myself.

2:08But of course, I will always acknowledge that I'm very lucky and privileged to come from my

2:13background and to be able to be exposed to meeting all these different types of people in this world.

2:19I also know a lot of people who come from these type of families and a lot of them, you know,

2:24they don't do anything with their lives and their parents just pay for everything. And

2:29that's something that I always saw where I was like, I don't want to be like one of those people.

2:32And I really always also saw success as freedom.

2:37Today, Paris reaches well over 65 million followers across her social channels.

2:42Yet, the OG influencer built her brand before social media even existed.

2:48I realized at a very young age the power of personal branding. For so long, I always

2:54looked up to my grandfather, Barron, and we were extremely close and he was my business mentor.

3:01And I was always fascinated about what he built with Hilton Hotels. And I also

3:08didn't want to be known as the Hilton Hotel granddaughter. I wanted to be known as Paris.

3:14Moving here opened up my eyes to this whole new world. And then I noticed just all these different

3:19brands and companies were reaching out to me to offer to pay me to wear their products or kind of

3:27like what people do now today with influencing, but back then there wasn't really a word for it.

3:32So yeah, I realized at a very young age the power of a personal brand.

3:37In 2023, Goldman Sachs estimated the Creator Economy's value at

3:43$250 billion dollars and projected it could reach $480 billion by 2027, almost doubling in size.

3:52Do you take credit Paris for the success and scale of the Creator Economy now?

3:58I feel really proud that I was always very ahead of my time and it wasn't like I ever just planned

4:05like, oh, I want to be, you know, the original influencer. It happened very authentically where

4:11I was just living my life and the tabloids and media loved following it and there was

4:19no one really doing what I was doing and now it's like a multi-billion-dollar industry.

4:24So, I feel really proud to have helped pioneer that and create the blueprint.

4:30I think it's incredible how people can really turn their

4:33personal brand into their own empire. And I love that I can inspire others

4:39to follow their dreams and do that and create something that is theirs.

4:44In 2006, Paris raised eyebrows when she launched a music career.

4:49I've loved music my whole life. I was singing and playing the

4:53piano and the violin since I was a little girl.

4:55It was always my dream to be a pop star. So, doing my first album was

5:02so exciting and was just amazing and just another way to help build my brand.

5:08Her first single, Stars are Blind surprised critics with its reggae inspired sound.

5:14"Even though the gods are crazy, Even though the stars are blind"

5:18It was certified gold by the Recording Industry

5:22Association of America for achieving half a million sales and downloads.

5:27I'm really just so proud of that first album, especially Stars Are Blind, it's just a such a

5:32timeless and iconic pop song, and I love that people still just love and enjoy it today.

5:39In the 2010s, Paris pivoted away from pop and became a regular on the EDM scene.

5:46Reports at the time said she could command up to a million dollars for a DJ set

5:52and several outlets called her the highest paid female DJ in the world.

5:57Fast forward to 2021. Paris Hilton co-founded 11:11 Media alongside industry veteran Bruce

6:04Gersh, bringing together all her creative and commercial endeavors.

6:10I've been in this industry for so long and I'm involved in so many different

6:14business verticals and I have so many different product lines. So,

6:18I really wanted to take all of my businesses and put it under one umbrella.

6:23Plus, I've been such a multi-hyphenate for so long,

6:26and a lot of these agencies weren't equipped for someone like me.

6:30So, I really just wanted to build a team that had

6:34the most brilliant people for every different vertical of my business.

6:38It's kind of like my dream machine. So,

6:41it's just incredible just to be able to take my brand and my business to the next level.

6:46It's like almost 30 people on the team now, and we do everything from producing television shows,

6:52podcasts, films, building IP and product lines and music, the metaverse, real estate,

7:03and then also getting to partner with different brands and bring them into pop

7:08culture. The possibilities are endless, and every day there's something new and exciting happening.

7:14Inspired by Disney, 11:11 Media is built on a flywheel model comprising three segments.

7:21Content such as Netflix series Cooking with Paris

7:24Community or fan engagement

7:27and commerce, meaning product lines like this cookware range.

7:32With today's age especially, you need all of those for a company.

7:36Having the content, the community with it as well,

7:39and then commerce to go with it. So, it's just our business model for the media company.

7:45It's amazing that we're able to do those on such a large scale globally.

7:50Paris's licensed consumer products have generated $4 billion dollars in retail sales.

7:56More than half of that figure has come from her perfume business alone.

8:01Since 2004, she's released more than 30 fragrances.

8:05I've seen so many others try and maybe they

8:08have one or two and then it just doesn't happen anymore.

8:11But I think with me, everything is created by me. This is products that I actually love and I

8:17want to wear. I see some other people where they don't even wear their real products.

8:22The consumer knows when it's not really authentic and it's not you.

8:28Paris is a fourth-generation member of one of the world's best known business dynasties.

8:34Her great-grandfather Conrad Hilton founded Hilton Hotels and her grandfather Barron

8:39Hilton led the expanded corporation for decades, as Paris was growing up.

8:46In 1949, Conrad took over management of this hotel, the Waldorf Astoria in New York.

8:52He famously described it as the greatest of them all.

8:57The Hilton family hasn't owned a stake in the hotel chain since 2007,

9:02but the Waldorf Astoria still holds a place in Paris's heart.

9:06And this portrait of Conrad is displayed at the hotel's Lexington Avenue entrance.

9:12When you see the photograph of your Great-Grandfather, Conrad,

9:16why do you think he loved the hotel so much?

9:18This was something that was a dream of his to acquire this hotel one day,

9:23and that dream came true for him.

9:25He was just so brilliant. Really changing the

9:28hotel industry in so many ways and innovating in so many ways.

9:32And this hotel is just so historic and so many incredible things have happened here.

9:37Conrad and his son Barron, your Grandfather, built a worldwide

9:42hotel empire. Do you ever feel the pressure to live up to any of those achievements?

9:49I feel so proud that I've created my own lane and my own brand. They've always inspired me

9:55in so many ways. Definitely growing up as a teenager, that was a lot of pressure.

9:59But now I feel that I've accomplished that now. So, it feels really gratifying.

10:08Inside, Paris showed me an area of the hotel that holds special memories from her childhood.

10:14I remember being a little girl and my sister and I were running around the Waldorf and

10:20when they would have big events here, we would just come up here and just be like

10:24looking over the balcony and like spying on everyone seeing what was happening.

10:28There was always just so many exciting events happening here.

10:32You never knew who you're going to run into in the elevator. It was

10:34always like different Presidents and just people from all over the world.

10:39You've talked about opening your own hotels. What would that look like?

10:43It's always been a dream of mine to follow in my

10:45family's footsteps and create my own hotels and I can't wait for that day.

10:51I've traveled all around the world. I've been at the most incredible hotels. So,

10:54really just taking all of my favorite parts and creating these spaces that are

10:59iconic and innovative and a lot of tech involved. Like, I have so many different ideas.

11:07I've been making mood boards and just brainstorming and yeah,

11:10I can't wait to get started on that.

11:12Paris grew up in the spotlight, sharing aspects of her life across tabloid, social media, and TV.

11:18So, it's no surprise a reality series co-produced

11:22by 11:11 Media followed her and husband Carter as they planned their wedding.

11:27"Will you marry me, Paris?"

11:29"Yes."

11:31And started a family.

11:32"My life is finally complete. I'm so obsessed."

11:36How has marriage and motherhood changed you?

11:39It's changed me in so many ways and really just made me realize what's most important in life.

11:45I'm so lucky that I found my husband. I feel like timing is really everything.

11:50We met at the perfect time in my life,

11:52and my babies are my world. Just make me feel like the luckiest woman in the world every day.

11:59I just want to soak in every moment because it goes so fast.

12:03But we're having the best time and I love them.

12:05Before my time with Paris came to an end, I got to meet another loved one.

12:10This is Iconic Princess Hilton.

12:14She's my new little baby. She's a Japanese long-haired teacup Chihuahua.

12:19What does she mean to you?

12:21She's like my little BFF. She reminds me so much of Tinkerbell,

12:26who was my first dog, who I loved so much.

12:29Just so sweet and so fun and just follows me everywhere and loves my babies.

12:36And do your babies adore her?

12:37Yeah, both my babies love animals so much because they've grown up with them their whole lives.

12:43Ever the entrepreneur, Paris has launched a range of pet products

12:47and an animated series inspired by her dogs.

12:51Paris & Pups is on YouTube right now. An amazing animated series

12:56about a girl named Paris Star who lives in a hotel called the Fabuluxe Hotel.

13:01So, it was actually inspired from living here as well.

13:04So, it's really fun and they just go on adventures together and spread sparkle wherever they go.

13:09Thank you so much for introducing me to her.

13:11Yes, my little baby.

13:15AI is impacting the world significantly in

13:18all different industries. How are you using it for your business and brand?

13:23I am such an undercover nerd.

13:25So, I am obsessed with technology and just everything that's coming out.

13:30And I'm investing into so much tech that does AI. So I get to see a lot of this technology

13:35before the public even gets to see it. So my team and I are always playing around with everything.

13:42And we've actually been developing for years now my AI with voice, with everything. I love also AI

13:51because I'm able to ideate and create on like a next level where it just makes it so much faster.

13:58There's obviously the good and the bad that comes with it,

14:01but I like to take the good parts. The possibilities are truly endless.

14:05Do you feel now that you're given enough credit as a successful businesswoman?

14:11Yes.

14:13Definitely people are finally seeing that I was never a dumb blonde,

14:17I was just very good at pretending to be one.

14:19You know, for so long people underestimated me and only saw me as the kind of character that I

14:24created. But for now, for people to see just what I've done and what I've created, it feels amazing

14:32because for so long, I just feel like people just misunderstood me and they

14:35didn't know that there was so much more to me.

14:38Well, Paris, thank you so much for fitting me in today, there's so much you're busy with.

14:41This was so much fun. I really enjoyed it.