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At this time, the family took up residence in a suite at the Waldorf Astoria Hotel in Manhattan, and frequently vacationed at a multimillion-dollar home in the Hamptons.
As East Coast transplants, Hilton and her sister regularly attended society functions, charitable events, fashion shows and A-list parties.
And her father, Richard, currently runs the real estate firm Hilton & Hyland. RELATED: Everything You Need To Know About Nicky Hilton's Wedding Dress But James Rothschild puts those numbers to shame.
His ancestor Mayer Amschel Rothschild started a banking business with his sons in the 18th century.
Nicky, of course, is the great-granddaughter of Conrad Hilton, who founded the famed Hilton Hotel chain.
Socialite Paris Whitney Hilton was born in New York City on February 17, 1981, the eldest child of real-estate developer Richard Hilton and socialite Kathy Richards Hilton.
Along with sister Nicky and brothers Barron and Conrad, Hilton is one of multiple heirs to the Hilton hotel fortune.
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While living in the family's Beverly Hills mansion, she attended her freshman year of high school at the Marywood-Palm Valley School in California.