Ho-tel heiress Paris Hilton is out $60 million after her billionaire grandfather - appalled by years of disgusting actions and Paris' recent jail term - has nixed her inheritance.

Barron Hilton was already embarrassed by her wild behavior - notably when the Paris Hilton sex tape was leaked online - but her 23-day jail stint was the last straw.

"He was, and is, extremely embarrassed by how the family name has been sullied by Paris Hilton," says Jerry Oppenheimer, who wrote a biography of the clan called House Of Hilton. "He now doesn't want to leave unearned wealth to his family."

The lesson here? A billionaire grandparent can only be subjected to so much Paris Hilton pussy before deciding there are far better uses for his personal fortune.

Paris Hilton: "Bye, bye, $60 million!"

Barron Hilton, 79, senior, is the only member of the family left with a sizeable stake in the huge hotel chain. He has let it be known that he intends to donate to charity the $2.4 billion he will gain from this month's sale of the company to private equity firm Blackstone.

The money will go to the Conrad N. Hilton Foundation, the charity set up in the name of the founder of the family business.

No word on whether Nicky Hilton still stands to inherit her $60 million, but after hearing the sad news, Paris shrugged her shoulders and continued making love to Tyler Atkins and other men while showing a general disregard for public safety.

Just kidding. But are we wrong? Doubtful. You know it's probably only a matter of time before she starts trying to sponge off of old pal Britney Spears.