He was born in Manhattan, New York, the younger son of author Wyatt Emory Cooper and. The term is usually associated with individualswho depend ontheir familys money without the need to work in any substantial way. They were the U.S. equivalent of some of the grand old palaces around the world. Anderson Cooper is getting a gift he didn't expect: the bulk of the estate of his mother, Gloria Vanderbilt. But he grew up with enough of a financial cushion to concentrate on the career instead of simply taking whichever job would pay the rent. After graduating in 1985 from the Dalton School, a prestigious private school on Manhattans Upper East Side, in 1985, Cooper attended Yale and graduated with a bachelors degree in 1989. Is A Hot Dog A Sandwich? second Kiss member to test positive for COVID, band postpones concerts, Your California Privacy Rights/Privacy Policy. That's a great thing. Anderson Cooper has an estimated net worth of $200 million after inheritance. Even The Commodore tolerated the lavish lifestyle Alva wanted. Every item on this page was chosen by a Town & Country editor. If we equate that to todays value, its still significant as it amounts up to billions of dollars. From wanting their children to grow up to beself-sufficient tochoosing to donatetheir wealth to charity instead, these are the celebritiesturning their back on generational wealth. But somehow, the eldest son managed to pull off the responsibility. Cooper, 54, opened up during the most recent . Damien Hirst Donated More than $10 Million to NHS, How to Help After Earthquake Hits Turkey, Syria, Jeff Bezos Pledges to Donate Most of His Wealth, Mastermind Behind Varsity Blues Gets 3.5 Years. Sitemap, Your California Privacy Rights Anderson Cooper has claimed for years that he isn't getting a dime of his mother Gloria Vanderbilt's money, which could add up to $200 million depending on how it's been invested and how much is left. Cooper certainly wasnt expecting a windfall. Remember, these houses cost a lot of fortune to construct, and they were the most expensive estates in their country back in the day. Gloria inherited the equivalent of $33 million in 1925 and family wrangling over the trust eventually accelerated her control of a bigger share. He was unhappy despite being wealthy because of his failing health and concern over money. Wild. For all practical purposes, he's the face of CNN now. Cornelius Vanderbilt was a titan of industry in the 1800s and acquired his extraordinary wealth with his railroad and shipping enterprises that helped build America's infrastructure. I want to take a quick moment to share a new project by Anderson Cooper called Vanderbilt: The Rise and Fall of an American Dynasty. Imagine how big and beautiful this house is when you are visiting it. A lifetime of artistic and business pursuits presumably helped her independent cash flow, but unless she stopped taking distributions long ago, nine decades is a long time for a traditional trust to run. In the present context, his net worth is around $110 million. John, who grew up ina "very working-class family," added that he "earned everything (he) did from hard work" and that's what he hopes for his children as well. When the end came, she was not alone. "I'm not that interested in money, but I dont intend to have some sort of pot of gold for my son. Anderson Cooper's net worth. Although hes also a member of an old, wealthy New York family and has benefited from his connections, he hasnt received much in terms of an inheritance. "You see it a lot in rich families, where the kids don't know what to do so they get in trouble, so I just let them be proud of what they make,"Osmond said. This eldest son doubled the money he received for the next ten years of his life. In April this year, 6th generation Vanderbilt Anderson Cooper told Howard Stern's radio show: "My mom's made clear to me that there's no trust fund." Indeed, all of their New York city homes had . When Gloria Vanderbilt was alive, she told her son Anderson Cooper that theres no trust fund. However things have changed following her death, there will be a gigantic trust fund for Anderson Cooper, but there will be no inheritance for her other son. She Died In A Mysterious Where Is Buster Murdaugh Now? Celebrity offspring may have hit the genetic jackpot, but these kids wont inherit a pot of gold. As he puts it,his branch of the Vanderbilt dynasty no longer considers inherited money anything but a curse" that drags kids down and wastes adult lives. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Love is what she believed in more than anything., RELATED: Warren Buffetts Berkshire Hathaway Scammed Out Of $340 Million By Couple Who Pulled Off $810 Million Ponzi Scheme. Not much is known about the 67-year-old since he was estranged from the family decades ago. If Gloria doesnt have a trust fund set up for any of the boys, her assets will eventually have to go somewhere. When Anderson's mother passed away in June 2019, many online sources claimed that Anderson would inherit her $200 million fortune, thus, his net worth previously said to be in the tune of $100 million was now reported to be at $200 million. Although that . He's wealthy on his own terms now, which is everything a high-net-worth parent could ask for. After all, previous Vanderbilts managed to amass vast multi-generational wealth as well as fund universities, churches and artistic institutions. Osmond shares son Stephen, 38, with her current husband Steve Craig. Its probably an unusual setup, but I knew he would be a great dad, and he is. We get along great.. Salary Inheritance Fox News. Another probable reason is that he left a large part of his wealth to only one of his children. The eldest son complained about the burden of inheriting the majority of the fortune. In that event, Gloria might not have needed to disinherit Cooper at all. "Its not whether their child is going to be a billionaire, or a millionaire or a middle-class individual, they just dont want to provide too much wealth that will squelch their child's desire to contribute something to this world," she says. Her son, news anchor and reporter Anderson Cooper, kept her legacy alive with touching tributes. reveals she isn't leaving any money to her children. His net worth is estimated to be $50million, according to Celebrity Net Worth. We may earn commission on some of the items you choose to buy. The late socialite and fashion icon Gloria Vanderbilt had a reported net worth of $200 million prior to her passing earlier this week leaving her son, CNN's own Anderson Cooper, an heir to a . Unless anyone can come forward and document Gloria Vanderbilt's current net worth, it's quite possible that Anderson Cooper is not in . My husband and I decided that you do a great disservice to your children to just hand them a fortune because you take away the one most important gift you can give your children, and that's the ability to work.". "If he is capable, he can make his own money," Chan said during an awards ceremony in Beijing, China in 2011. Disclosure: this article might contain links to the resources discussed.Some of the links are affiliate links, meaning that I will make a small commission if you purchase a product or service by using the link. His great-great-great-grandfather, Cornelius Vanderbilt, was a shipping and railroad magnate. Anderson may be responsible for it, he may be cut out of the loop entirely. Like Anderson Cooper, her advocacy is a lot more diffuse, so its anybodys guess what charity or charities she would favor in her estate plan. He was $1.5 million less before the inheritance as he had inherited less than $1.5 million from his late mom Gloria Vanderbilt's estate. turning to old yet potentially risky accounting maneuver to attract buyers for investment funds after bond market rout. However, the elegant mansion didnt get Alva what she desired. All rights reserved. Anderson Cooper Net Worth - $200 million. The first house on Fifth Avenue stood in 1882 but fell in 1914. Though his mother . If almost all the money goes to charity, she dies with something like a clean slate as far as the IRS and public opinion are concerned. However, Cooper only got a $1.5 million inheritance after his . That would be around 70 million dollars by now. I absolutely love it.. The Vanderbilts rarely used any of these properties, just for a few weeks each year as their summer home. He managed to be the wealthiest during that time. "Its terrible to give kids a silver spoon. Basedon the facts we have, a few scenarios present themselves for the Vanderbilts. YouTube Monetization: How Many Views Do You Really Need? The money had already done its job. The properties were good enough to rival mansions built since the Middle Ages. I think it's an initiative sucker. Another business magnate, John Jacob Astor, made a lot of fortune through real estate. Im not that interested in money, but I dont intend to have some sort of pot of gold for my son. And for the following years, William Henry Vanderbilts children spent almost all of the fortune he made from The Commodores inheritance. 2023 SheMedia, LLC. That wealth is largely derived from his career in journalism, which dates back to 1992. A few years later, a Manhattan court ruled that her lawyer and psychiatrist had colluded to misappropriate a whopping $1.4 million from her accounts. He added, "People make assumptions, that they were born with a silver spoon in their mouth, but they have not been given a lot.". All Rights Reserved. By 1947, the remaining Vanderbilt properties followed the fall. When Vanderbilt passed away on June 17, 2019, it was . The property boasts four floors and over 8,240 square feet. However, it takes intelligence to maintain the fortune for the following years. Its too early to tell what his financial philosophy as a parent will be. Cooper has a beach house in the coastal Brazilian town of Trancoso and famously renovated an old, 19th-century firehouse in New Yorks Greenwich Village, which he paid $4.3 million for in January 2010. This website is using a security service to protect itself from online attacks. Errand Running Made Easy: Steps for Starting Your Own Business, Comparing Simple IRA and Simple 401(k) For Business Owners, Banking for the Self-Employed: The Best Banks for Freelancers. Cooper is far from alone in his view on inheritances: a recent survey of American millionaires found that nearly 70% were worried about the possibility of leaving too much money for their heirs,. And if we cant figure out where that much wealth is headed, how sure are we that it exists at all? Anderson Cooper is taking a page out of his late mother's book when it comes to how much money he plans to leave his son Wyatt. The Vanderbilts were still not invited to big parties that the Astors held. Unless anyone can come forward and document Gloria Vanderbilts current net worth, its quite possible that Anderson Cooper is not in line for a vast trust fund because the money itself is just not there. Once the kids are independent and settled in their own careers, these are the questions wealthy families need to answer. ", He added, "I dont want them to say, 'Thanks, dad, for making me rich.' Anderson Cooper is already considered wealthy thanks to his successful career in broadcasting, but his mother Gloria Vanderbilt reportedly still left him $1.5 million at the time of her. So where did the money go? When Cornelius, Coopers great-great-grandfather, died in 1877, he had a net worth of $100 million$2.7 trillion adjusting for inflation. [This is wild to me sliiiggghhtttly more cash than I have, but then again, my goal is a life of flexibility and adventure]. Related Reading: Advantages & Disadvantages Of A Corporation - Read My Opinion Here. Alva wanted to use the house as a key to enter the wealthy society. Anderson Coopers net worth is approximately $200 million that mostly comes from journalism. Anderson Cooper's net worth is over $310 Million (After Vanderbilt Inheritance). Theres none of that, he told interviewer Howard Stern. ", Gene Simmons second Kiss member to test positive for COVID, band postpones concerts. . After 30 years since Cornelius Vanderbilt died in 1877, the following generations of the family hit rock bottom. Anderson Cooper, who inherited less than $1.5 million from late mom Gloria Vanderbilt's estate after she died in 2019, revealed that he does not plan to leave his wealth to his son, Wyatt. "The family I was born into may be gone, but I feel them alive in the family we've created, new love, and new life," Cooper said in Sebastian's birth announcement on CNN. William figured that the only way to please his eruptive and commanding wife was to let her spend his money. Although the wealth on his mothers side of the family afforded him certain opportunities, Cooper received a comparatively small $1.5 million inheritance following his mothers death in June 2019 at age 95. ", Highest-paid actors of 2020: Dwayne Johnson is No. If the channel interferes with that brand, he'll take the show elsewhere. No, you wanna be able to stand on your own two feet and say, 'I did that.' They were colossal country properties, in particular, that cost about millions of dollars each. Tucker Carlson Net Worth is $420 Million US Dollars. Anderson Cooper is by far the highest-profile of the Vanderbilt heirs but despite the medias somewhat lazy tendency to focus on the famous one, Gloria had other sons. If only The Commodore tried the same approach, the Vanderbilt family could maintain their wealth even today. Ifeel you. Brooks is a firm believer in creating multiple streams of income and creates content here onBrooksConkle.comto help other hustlers in the areas of marketing, online business, personal finance, and real estate. His Fortune at Age 54. People have muttered that the trust was actually empty by the 1950s. When you think of trust-fund babies, names like Paris Hilton, Rob Kardashian and Lisa Marie Presley come to mind. Terms of Use ", "I certainly dont want to leave them trust funds that are albatrosses round their necks," he told the Daily Mail. Who has inherited a lot of money that has gone on to do things in their own life? He grew the fortune left with him. According to the book, Vanderbilts luxurious and privileged lifestyle became a short-term golden for them. The 52-year-old news personality is in no dire need of money since Anderson Cooper has a net worth of $100 million, and that is before the massive inheritance from his wealthy mother. From there, he began his career as a fact-checker for Channel One, but he soon grew bored with the job and opted to spend a year living in Southeast Asia. According to Celebrity Net Worth, Anderson Cooper is worth $200 million. That wealth is largely derived from his career in journalism, which dates back to 1992.. Lets discuss the stories from the book Fortunes Children: The Fall of the House of Vanderbilt to know what happened to the Vanderbilt Family and their fortune. One red flag here, however, is that Gloria is not known for her passionate support of any particular cause. Like a lot of fashion people more interested in the creative end than the business, she sold the licensing rights to her name early on. When heiress Gloria Vanderbilt died leaving almost everything in her will to her youngest son, Anderson Cooper, there were suggestions that he could inherit up to $200 million. Gloria Vanderbilt was said to have a net worth of $200 million, although the exact amount has never been revealed. RELATED: Michael Jackson's Hyperbaric Oxygen Chamber Found 10 Years After His Death He can even set a plan for the Vanderbilt familys future generations but ruined the chance to do so. Anderson Cooper earns $15 Million salary from CNN. , Cooper examined the history of his family on his mothers side, chronicling how their massive fortune had dwindled to almost nothing by the time it fell to Coopers mother Gloria. "If you leave hundreds and millions of dollars to a child,there is a potential (they won't) have work ethic and will sit around living off the money," Radwaysays. However, probate documents filed after the socialites death in June reveal that Cooper will actually receive less than $1.5 million the total value of her estate at the time of her death. Cooper served as the executive producer of the HBO documentary Nothing Left Unsaid: Gloria Vanderbilt & Anderson Cooper in 2016, which was a collection of candid conversations with Vanderbilt, his mother. Vanderbilt had an estimated net worth of $200 million at the time of her death, meaning Cooper is now really fucking rich, considering his net worth was already estimated at around $100 million. 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