He's wealthy on his own terms now, which is everything a high-net-worth parent could ask for. His great-great-great-grandfather, Cornelius Vanderbilt, was a shipping and railroad magnate. Rather, the beloved broadcaster has forged his own path to a massive fortune all his own (of course, there are benefits and privileges that come with being a nepo baby outside of financial ones), building a significant net worth thanks to his successful career with CNN as a correspondent, talk show host and political commentator. 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. She was starting to blow the fortune of the Vanderbilts. Do Not Sell My Personal Information, Anderson Cooper tearfully says goodbye to mom Gloria Vanderbilt, Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to email a link to a friend (Opens in new window), The Doobie Brothers announce 50th Anniversary Tour: Get tickets today, The 7 best home saunas of 2023, with expert tips on how to shop, This 2021 iPad is at its lowest price ever on Amazon, Save over $1,100 on this 65" LG Smart TV today on Amazon, The viral lululemon Everywhere Belt Bag is back in stock UPDATED. Salary Inheritance Fox News. Its too early to tell what his financial philosophy as a parent will be. The TV journalist announced the birth of his son, Wyatt Morgan Cooper, in late April 2020. The house is on private land that was 10 square miles big. In a 2014 interview on The Howard Stern Show, Cooper said: My moms made clear to me that theres no trust fund. "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. Anderson Cooper was rich, but now he's really rich. For her to stay in this apartment for 23 years, which for my mom is an eternity, it had to change. Once the kids are independent and settled in their own careers, these are the questions wealthy families need to answer. 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. Leaving that augmented fortune to charity would be in line with Buffetts creed as well as Coopers own view of the Vanderbilt family as believing in working. But again, in the absence of known philanthropic passions, what organizations end up with the money, and why isnt she lending them her celebrity now? One out of every 20 dollars in circulation belonged to Commodore Vanderbilt He had more money than the US Treasury.. Some stars claim that leaving their children with an excess of wealth may limit their desire to forge their own path. Thats why Alva hosted her party at the new mansion with over 1,000 noble families in New York except the Astors. And he didn't even use the name. Cornelius Vanderbilt worked his way up to have the immense fortune in his time. Anderson Cooper Will Inherit His Mothers $200 Million Fortune. One by one, the mansions on Fifth Avenue built by the family crumbled when the auctioneer demolished the homes. And if we cant figure out where that much wealth is headed, how sure are we that it exists at all? But the people who built it were as good as his. Cooper's net worth before the inheritance has been estimated at more than $100 . Gloria inherited some of that money and parlayed it into a high-fashion empire in the 1970s. 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. Basedon the facts we have, a few scenarios present themselves for the Vanderbilts. Vanderbilts only other living child Christopher Stokowski will apparently receive nothing since he was not named in the will. Gloria Vanderbilt died on June 17, 2019. At present, some of these large houses are available for the public to tour. Gloria had a net worth of approximately $200 million, but Anderson Cooper probably won't inherit the massive fortune of his mother, the Vanderbilt heiress. Anderson Cooper commands a salary of $12 million a year from CNN, according to multiple reports, making him one of the highest-paid newsmen in the country. ", Ashton Kutcher is not going to space (yet)after Mila Kunis convinced him to sell his ticket, In 2016, John said he plans to leave histwo sons with husbandDavid Furnish Zachary, 10,andElijah, 8 a small sum of money, but "anything beyond the basic, they have to go out and earn it themselves.". The family's fortune, worth $200 million in the late 1800s, gradually diluted over the decades by . Gloria inherited the equivalent of $33 million in 1925 and family wrangling over the trust eventually accelerated her control of a bigger share. All Rights Reserved. Anderson may be responsible for it, he may be cut out of the loop entirely. And as a matter of fact, if the correspondents are not drinking this year, I will be partying even harder on their behalf., He continued: One of the very cool things about doing New Years Eve with Anderson is that I dont have to plan anything, New Years Eve is a holiday that stresses people out; it rarely delivers. The fortune that The Commodore made during his life and passed down to his children went down the drain. Stan Stokowski is now in his late 60s and running a Long Island landscaping company. Was Mallory Beach Ever Found? "I dont believe in passing on from one generation to another. If anything, rumors of nepotism have been enough of a drag on his professional reputation that its probably worth a lot more to him to refuse the Vanderbilt wealth he might have otherwise had coming to him. Its probably an unusual setup, but I knew he would be a great dad, and he is. And its unclear how much money the designer jeans and perfume actually made her. goal is a life of flexibility and adventure, Fortunes Children: The Fall of the House of Vanderbilt, Anderson Coopers Book Vanderbilt: The Rise & Fall of an American Dynasty, Check out The Rise & Fall of an American Dynasty, Ready The Rise & Fall of an American Dynasty, Top Online Data Entry Home Jobs Without Any Investment, Start a Hotdog Business: Turn Your Passion for Food into Profit. Cooper, who welcomed son Wyatt Morgan via surrogate in April 2020, is the latest celebrity to declare that he won't leave his son an inheritance. These homes cost millions of dollars but turned out useless. His net worth is estimated to be $50million, according to Celebrity Net Worth. But Radway says it's ultimately up to individuals on"how they want to use their money," adding that it's not always cut and dried. I think its an initiative sucker. 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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. The greed destroyed the family and the fortune of the future generations of the family. (Full inbox? Anderson Cooper's net worth explored. Your IP: 2023 SheMedia, LLC. While the journalist has a net worth of $50 million, according to Celebrity Net Worth, . Cooper became a first-time father on April 27, 2020, when Wyatt Morgan Cooper was born via surrogate. "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. As a well-known journalist and author, Cooper has a net worth of about $50 million, according to CelebrityNetWorth.com. "What Ive seen from other parents is that they dont want to provide too much money that theytake away their childs sense of purpose," Debra Radway,a certified financial planner, trustee and investment advisor withRadway Advisory Services LLC, tells USA TODAY. 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 . These houses are Biltmore, Idlehour, Florham, The Breakers, and Marble House. "I think it's an initiative sucker. We can directly blame the grandchildren for wasting their fortune on vacated estates they built, but it all comes down to The Commodore. Cooper is the primary anchor of the CNN news show 'Anderson Cooper 360'. The world's best American broadcaster "Anderson Cooper" has a net worth of $310 Million. They couldve saved their fortune if they knew not to spend everything they have and use the interest in their original wealth. News anchor Anderson Cooper has a net worth of $200 million, according to Celebrity Net Worth. It wasnt initially clear how much Cooper would receive, but it was assumed to be sizable given online reports about her net worth. He established his wealth years before Vanderbilt started. Her son, news anchor and reporter Anderson Cooper, kept her legacy alive with touching tributes. , 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. She never developed a thick skin to protect herself from hurt., A post shared by andersoncooper (@andersoncooper), She wanted to feel it all. 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. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. But are their decisionspractical? In 2018, Kutcher said he'snot leaving trust funds for his two children with wife Mila Kunis daughterWyatt, 7, and sonDimitri, 4 in hopes they will earn their own living and"be motivated to have what they had, or some version of what they had. She was 95-years-old. ", 'I am a dad': Anderson Cooper proudly announces the birth of his son Wyatt. Thanks for contacting us. She didnt want another home, but just a place to show off to the high community so she can be part of them. Anderson Cooper and his mother, Gloria Vanderbilt, Your Privacy Choices: Opt Out of Sale/Targeted Ads. Cooper embarked on his journalism career after graduating from Yale with a Bachelor of Arts degree, studying political science and international relations. Every item on this page was chosen by a Town & Country editor. 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. 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