The Vanderbilts How America's Richest Family Went Broke
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Date: 2022-12-29
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Comments and reviews: 20
Andy
I don't deny some of the posterity of commodore Vanderbilt bought and spent excessively, however I think there is a bigger impact being missed here and that is the power of a great lump sum of money. It would not be correct to say that everyone after Cornelius Vanderbilt was not frugal with money. For example when Cornelius died he was worth about 100 million. Not shabby for a river rat to aquire in 80 years. But in just 7 years after his death his son William Billy Vanderbilt had made that into almost 200 million. By most accounts the richest man on earth. He was generating about 10 million a year between bonds and interest. That great lump sum took on a life of its on and sustained itself. Now William did not leave a single lump son to his children. And that's where you can see the difference. Now with only 5 to 10 million each their money was making about 300k a year instead of 5 to 10 million. Yes the railroad decline hurt but overall it was breaking up the lump sum. Moral of the story, save till your money takes on its own sustainability and then never spend more than the interest. And don't just think the Vanderbilts had ups and downs with money. J. P. Morgan tried to go head to head with the Commadore and Cornelius broke him, making him buy back his own stock that he purchased for around 80 bucks for double. It should also be noted what a fantastic business woman Edith showed to be after the untimely death of George Vanderbilt. She saved the Biltmore from ruin and now it is a name all still know and admire in Asheville.
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I don't deny some of the posterity of commodore Vanderbilt bought and spent excessively, however I think there is a bigger impact being missed here and that is the power of a great lump sum of money. It would not be correct to say that everyone after Cornelius Vanderbilt was not frugal with money. For example when Cornelius died he was worth about 100 million. Not shabby for a river rat to aquire in 80 years. But in just 7 years after his death his son William Billy Vanderbilt had made that into almost 200 million. By most accounts the richest man on earth. He was generating about 10 million a year between bonds and interest. That great lump sum took on a life of its on and sustained itself. Now William did not leave a single lump son to his children. And that's where you can see the difference. Now with only 5 to 10 million each their money was making about 300k a year instead of 5 to 10 million. Yes the railroad decline hurt but overall it was breaking up the lump sum. Moral of the story, save till your money takes on its own sustainability and then never spend more than the interest. And don't just think the Vanderbilts had ups and downs with money. J. P. Morgan tried to go head to head with the Commadore and Cornelius broke him, making him buy back his own stock that he purchased for around 80 bucks for double. It should also be noted what a fantastic business woman Edith showed to be after the untimely death of George Vanderbilt. She saved the Biltmore from ruin and now it is a name all still know and admire in Asheville.
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june
How reprehensible it is when those blessed with commodities insist on ignoring the poor. Better to torment them, force them into indentured servitude, inflict compulsion and blowsthis at least produces a connection, fury and a pounding heart, and these too constitute a form of relationship. But to cower in elegant homes behind golden garden gates, fearful lest the breath of warm humankind touch you, unable to indulge in extravagances for fear they might be glimpsed by the embittered oppressed, to oppress and yet lack the courage to show yourself as an oppressor, even to fear the ones you are oppressing, feeling ill at ease in your own wealth and begrudging others their ease, to resort to disagreeable weapons that require neither true audacity nor manly courage, to have money, but only money, without splendor: Thats what things look like in our cities at present.
Robert Walser, The Tanners
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How reprehensible it is when those blessed with commodities insist on ignoring the poor. Better to torment them, force them into indentured servitude, inflict compulsion and blowsthis at least produces a connection, fury and a pounding heart, and these too constitute a form of relationship. But to cower in elegant homes behind golden garden gates, fearful lest the breath of warm humankind touch you, unable to indulge in extravagances for fear they might be glimpsed by the embittered oppressed, to oppress and yet lack the courage to show yourself as an oppressor, even to fear the ones you are oppressing, feeling ill at ease in your own wealth and begrudging others their ease, to resort to disagreeable weapons that require neither true audacity nor manly courage, to have money, but only money, without splendor: Thats what things look like in our cities at present.
Robert Walser, The Tanners
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Tom
George Washington Vanderbilt of Biltmore House fame had one child, a daughter. She married a Cecil from England, a descendant of the First Lord Burleigh, chief minister of Elizabeth I.
That daughter had two sons, George and William Cecil. William and his side of the family operated the house. George was in charge of the dairy business. Both of the sons are dead. George died at the end of October, 2020. William has been gone for several years. Both were generous members of the Asheville community.
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George Washington Vanderbilt of Biltmore House fame had one child, a daughter. She married a Cecil from England, a descendant of the First Lord Burleigh, chief minister of Elizabeth I.
That daughter had two sons, George and William Cecil. William and his side of the family operated the house. George was in charge of the dairy business. Both of the sons are dead. George died at the end of October, 2020. William has been gone for several years. Both were generous members of the Asheville community.
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Markus
The line, litrally everyone forgets is the whitney line, the eldest daughter of Cornelius Vanderbilt II married one of the richest men in America, Harry Payne Whitney, their son also grew his fortnue, living until 1992 and dying at the age of 93, him, his sisters and his children were all worth far more than 1 million dollars in 1973.
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The line, litrally everyone forgets is the whitney line, the eldest daughter of Cornelius Vanderbilt II married one of the richest men in America, Harry Payne Whitney, their son also grew his fortnue, living until 1992 and dying at the age of 93, him, his sisters and his children were all worth far more than 1 million dollars in 1973.
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Radiant
Look at these rich people, lying trying to denounce their wealth before the world because they know what's coming when the lesser than united. its gonna be like the French Revolution. he wrote this book to have people looking in the other direction. slick move. they rose and never fell. now they want to go underground
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Look at these rich people, lying trying to denounce their wealth before the world because they know what's coming when the lesser than united. its gonna be like the French Revolution. he wrote this book to have people looking in the other direction. slick move. they rose and never fell. now they want to go underground
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Jason
Wow did this not age well. Anderson Cooper turned into the worst form of yellow journalism. He perhaps once had integrity but he has absolutely lost any semblance of it. He had lost it before this video come out but he did have a decent reputation at least at this time if you weren't following along.
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Wow did this not age well. Anderson Cooper turned into the worst form of yellow journalism. He perhaps once had integrity but he has absolutely lost any semblance of it. He had lost it before this video come out but he did have a decent reputation at least at this time if you weren't following along.
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de
My grandfather's great grandparents owned quarries for gravel and they made a empire out of gravel to build highways as the united states had their highway boom. my generation is the last generation to see anything left of their fortune.
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My grandfather's great grandparents owned quarries for gravel and they made a empire out of gravel to build highways as the united states had their highway boom. my generation is the last generation to see anything left of their fortune.
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Rick
Stop! Anderson Cooper still had a wealthy upbringing.
He had advantages that allowed him to get where he is today.
I like him. He's intelligent, interesting and handsome.
But he didn't do it on his own.
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Stop! Anderson Cooper still had a wealthy upbringing.
He had advantages that allowed him to get where he is today.
I like him. He's intelligent, interesting and handsome.
But he didn't do it on his own.
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Tess
someone couldn't get get them on the titanic with the Astor and Guggenheim? Now they have devolved to a highly delusional propaganda artist for the american nazi media and unnamed politicians and their cohorts.
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someone couldn't get get them on the titanic with the Astor and Guggenheim? Now they have devolved to a highly delusional propaganda artist for the american nazi media and unnamed politicians and their cohorts.
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James
Well in a way they helped build USA giving people jobs building there homes and railroads. And they gave lot of it away to build schools and centers of study. I think that's better then just setting on it.
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Well in a way they helped build USA giving people jobs building there homes and railroads. And they gave lot of it away to build schools and centers of study. I think that's better then just setting on it.
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Trixie
You also need to look at the descendents of George Vanderbilt II. His offspring seem to be doing very well and manage what he left behind, keeping his home and land in the family.
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You also need to look at the descendents of George Vanderbilt II. His offspring seem to be doing very well and manage what he left behind, keeping his home and land in the family.
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Corbin
People with super famous parents be like Im totally self made, my super famous parents had absolutely no impact on any circumstance or opportunity in my life
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People with super famous parents be like Im totally self made, my super famous parents had absolutely no impact on any circumstance or opportunity in my life
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education
Gloria wont share the inheritance out of spite of what it has done to her? What a selfishly spiteful and ignorant thing to do. A very woman like decision
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Gloria wont share the inheritance out of spite of what it has done to her? What a selfishly spiteful and ignorant thing to do. A very woman like decision
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Travis
Nooo Anderson came from the mud to rise up to the top. please. His mother helped him plenty. Which is fine. Just dont act like Anderson was self made.
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Nooo Anderson came from the mud to rise up to the top. please. His mother helped him plenty. Which is fine. Just dont act like Anderson was self made.
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Xcal
Stop acting like Anderson Cooper ever struggled in his whole life. Just like Trump, he came from riches. His momma got him where he wanted.
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Stop acting like Anderson Cooper ever struggled in his whole life. Just like Trump, he came from riches. His momma got him where he wanted.
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Robert
Anderson Cooper does not deserve any of his awards, I dont care if he made all his money on his own he has a sell out to his country.
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Anderson Cooper does not deserve any of his awards, I dont care if he made all his money on his own he has a sell out to his country.
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Juan
Your kidding right, Anderson cooper a hard working journalist lol fake news cnn is just as fake as cooper 2021 it's all been exposed
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Your kidding right, Anderson cooper a hard working journalist lol fake news cnn is just as fake as cooper 2021 it's all been exposed
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Beer
Im here because I went to Biltmore today and it was $94 PER TICKET and Im wondering how these bozos spent all that friggin money pal
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Im here because I went to Biltmore today and it was $94 PER TICKET and Im wondering how these bozos spent all that friggin money pal
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HELLH0WND
You missed the part about Anderson Cooper joining the CIA and becoming a head news anchor with no journalistic experience.
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You missed the part about Anderson Cooper joining the CIA and becoming a head news anchor with no journalistic experience.
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Crypto
The Commodore is probably rolling in his grave right now knowing how his family lost the fortune he worked so hard to build.
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The Commodore is probably rolling in his grave right now knowing how his family lost the fortune he worked so hard to build.
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