Gloria Vanderbilt inherited millions and made a fortune on real estate, jeans and memoirs

Mail Online | 5/19/2020 | Chris Spargo For Dailymail.com
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Gloria Vanderbilt may have been born a millionaire, but her inheritance was far less than the millions she made over the course of her lifetime.

In her twenties and thirties she scooped up large investment properties in Florida and Manhattan while her fifties and sixties were spent creating and growing a clothing and housewares empire on the back of her iconic jeans.

Work - End - Nothing - Parents - Millions

Her hard work paid off handsomely in the end, and proved she was nothing like her parents, who had squandered millions while living off the money of her great-great grandfather Commodore Cornelius Vanderbilt.

There is also little left of that fortune however, due to Vanderbilt's lavish spending over the years and some bad business decisions that cost her millions.

Vanderbilt - Trust - Son - Anderson - Cooper

This may explain why Vanderbilt did not leave behind a trust for her son Anderson Cooper.

'I don’t believe in inheriting money. I think it’s an initiative sucker. I think it’s a curse,' Cooper told Howard Stern in 2014.

'Who - Lot - Money - Things - Life

'Who has inherited a lot of money that has gone on to do things in their own life?

'From the time I was growing up, if I felt that there was some pot of gold waiting for me, I don't know that I would've been so motivated.'

Vanderbilt - Inheritance - Point - Interest - Time

Vanderbilt's inheritance was a point of interest from the time she was born, which is when she came into a $2.5 million trust.

That trust could not be touched however until she was 21, a matter that quickly became an issue when her father Reginald passed away just months after her birth.

Reginald - Inheritance - Vanderbilt - Mother - Intent

Reginald had squandered all of his $25 million inheritance, and Vanderbilt's mother seemed intent to do the same with her daughter's money.

Mrs. Gloria Vanderbilt was a minor herself when Reginald died, ultimately received a sum of $4,000 a week for the care of her daughter.

Allowance

That allowance was used...
(Excerpt) Read more at: Mail Online
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