Anderson Cooper has racked up quite the fortune in his career with no help from his formerly wealthy family. In a new book, the broadcast journalist discusses the Vanderbilt dynasty that he was born into.
Anderson Cooper has just more than 30 years of experience in the broadcast industry. He has been on air since 1990. CNN estimates that Anderson Cooper earns $12 million annually as a broadcaster.
Cooper recently had his first child and now shares his fortunes. The famous political commentator won’t leave behind his millions for his son after his family history.
Anderson Cooper visits SiriusXM Studios in September 2021. Cooper was vocal about not leaving his children an inheritance before he became a father.
Cooper has been vocal about not leaving children an inheritance even before he was a father. Howard Stern was even told once by the 54-year old broadcast journalist that large inheritances were a curse.
Now, Cooper is repeating his sentiments as a father to baby Wyatt. He is, however, digging deeper into his family history in order to understand why he would not leave his son a substantial sum of money.
Cooper grew up as the son of heiress Gloria Vanderbilt, who earned her fortune from her great-great-grandfather’s inheritance. Cornelius Vanderbilt built his fortune through shipping and railroad empires.
When Vanderbilt passed away in 1877, he left behind the equivalent of $2.5 billion in today’s currency. His heirs blew millions of dollars, and the dynasty was left worthless.
Recently, Cooper has been looking into his infamous family and penned a book on the dynasty’s fall from grace. The broadcaster told People Magazine that he wrote the text as a letter to his son.
Additionally, the lessons he learned while writing about his family’s history also inspired him on how to raise Wyatt. Cooper explained that seeing his family members’ financial struggles forged his way of thinking:
“I from a very young age… was very aware of, ‘This is not me. This is not something my mom has, or this is money that my mom has, but it’s not money I’m going to have, and I need to forge my own way,’”
Although Cooper’s experience with his family’s financial struggles has made him against an inheritance, he insists he will still provide for his son. He explains, however, that it will be in the form of paying for his college tuition.
Cooper’s heiress turned fashion designer mother did the same for him when he was younger. Gloria Vanderbilt directly experienced losing her family’s fortune, which influenced how she raised her son.
Anderson Cooper and Gloria Vanderbilt attend the “Nothing Left Unsaid” premiere, April 2016
Cooper also learned something from his dad when it comes to raising his son. CNN anchor said that a book his father had written and left behind inspired him to write the same thing for his son.
Wyatt is 18 months old and will not inherit any gold, but he has plenty of love right now. Cooper’s book on his family history is also a great legacy to leave behind for his offspring.