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Why Gloria Vanderbilt's son Anderson Cooper likely will not inherit her massive fortune



Gloria Vanderbilt built a career as an actress, artist, fashion designer, author and socialite, amassing a fortune on top of her inherited money – CNN anchor Anderson Cooper and other children.

Vanderbilt, who died Monday morning after battling stomach cancer, was the beneficiary of a $ 5 million trust fund since she was born. Cornelius Vanderbilt became known as the "poor little rich girl" in 1934 at the age 10 when her mother, Gloria Morgan Vanderbilt, and aunt, Gertrude Vanderbilt whitney dispute what embroiled in a custody. Whitney eventually won custody, and by 1945, Vanderbilt 21

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Although it's unclear what will happen to Vanderbilt's estate, Cooper most likely will not receive a trust fund from his mother. Cooper told Howard Stern on his radio show in 2014 that Vanderbilt had already made it clear "

CNN anchor Anderson Cooper and his mother, Gloria Vanderbilt. (AP)

" My mom's There's none of that, "Cooper Told" Howard Stern Show "host." [And] I do not believe in inheriting money. "

The" Anderson Cooper 360 "anchor said inheriting money was due to "initiative sucker" and a "curse."

"Who has inherited a lot of money that has gone on to do things in their own lives?" Cooper asked Stern. "From the time I was growing up I've been that motivated for some time. "

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When Stern mentioned that Vanderbilt ended The CNN anchor added that he was "incredibly well" with a successful career

"We believe in working," Cooper said.

Vanderbilt is now talking about the great feeling of earning her own success from the money she inherited. [19659002] "I'm not knocking inherited money," the socialite told The New York Times in 1985. "But the money has not. As the Billie Holiday song goes, 'Mum may have and daddy may have, but God bless the child that's got his own.' "

Portrait of socialite / designer Gloria Vanderbilt sitting on a chair of her designer jeans.

Vanderbilt had an estimated net worth of $ 200 million at the time of her death, according to celebritynetworth.com Her family's fortune is diminished over the years due to charitable donations and lavish spending, Forbes reported One of her children, Carter Vanderbilt Cooper, died by suicide in 1988.

Cooper announced his mother's death in on-air eulogy on CNN Monday

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"Gloria Vanderbilt was a n extraordinary woman, who loved life, and lived on it, "the CNN anchor said in a statement. She was a painter, a writer, and a designer, but she was a beautiful mother, wife, and friend. the coolest, and most modern. "

The Associated Press contributed to this report.


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