How Much Money Does The Vanderbilts Have Today

In one case considered the richest family of the Gilded Age, the Vanderbilt family now has a net worth that pales in comparison with what it was when Cornelius "Commodore" Vanderbilt ran the show during the 19th century.

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Television receiver journalist and author Anderson Cooper, who is a descendant of the Vanderbilt family, chronicles the family'south life and wealth in his 2021 book, Vanderbilt: The Rise and Autumn of an American Dynasty.

In his book, Cooper claims that in that location wasn't much of the Vanderbilt fortune left when his mother, Gloria Vanderbilt, died in 2019. Gloria was the last direct descendant of Commodore Vanderbilt, who built up the family fortune through his aircraft, railroad, and real estate empire.

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The Vanderbilt family fortune was once equal to $185 billion

Equally a well-known announcer and writer, Cooper has a net worth of about $50 million, co-ordinate to CelebrityNetWorth.com. Although that'southward a good amount of money, it'south a far cry from Commodore Vanderbilt'south net worth, which is estimated to have been equal to $185 billion at the time of his expiry in 1877.

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Commodore Vanderbilt grew the family fortune from humble beginnings. As a child, Commodore could barely read and write. He dropped out of school when he was merely 11 years erstwhile. At age sixteen, he borrowed money from his mother to buy a small gunkhole. That single boat would eventually become an entire fleet of steamships, and a railroad empire would follow.

When Commodore died, he left well-nigh of his fortune to his oldest son, William Henry Vanderbilt. In just 8 years, William doubled the fortune.

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Vanderbilt heirs squandered the fortune

After William died in 1885, family members who inherited the fortune started squandering it. Past the early 1970s, none of the 120 Vanderbilt descendants had even a million dollars to their name.

"I am a large laic in the corrosive effects, the cancerous effects of that kind of money," Cooper told The Washington Mail service in an October. 14, 2021, interview. "I mean, information technology was conspicuous consumption on a whole other level. They were born into it, and they thought it would last forever."

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Gloria Vanderbilt's father was the terminal male person heir of the family fortune

As a child, Gloria Vanderbilt didn't know annihilation about her family or their fortune—until she was thrown into the middle of a custody battle betwixt her mother and her aunt over the money her father, the terminal male heir of the Vanderbilt fortune, left her after he died. The custody boxing gained national media attention.

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"My mom did not experience a Vanderbilt. She felt an imposter from the fourth dimension she really learned about the family, which was when she was removed by the courts and sent to her Aunt Gertrude," Cooper told The Washington Postal service.

Gloria Vanderbilt forged her own path

Instead of resting on the laurels of the family name, Gloria Vanderbilt forged her own path every bit a fashion designer and artist. Before her decease in 2019, Gloria's net worth was estimated at $10 million, according to CelebrityNetWorth.com.

"She had a drive to make a proper noun for herself and to detect love and build a family unit and have successes of her ain and money of her ain," Cooper told The Washington Post.

Source: https://marketrealist.com/p/vanderbilt-family-net-worth-now/

Posted by: saunderscriver.blogspot.com