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Fortune's Children: The Fall of the House of Vanderbilt-Arthur T. Vanderbilt

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Vanderbilt: the very name signifies wealth. The family patriarch, "the Commodore," built up a fortune that made him the world's richest man by 1877. Yet, less than fifty years after the Commodore's death, one of his direct descendants died penniless, and no Vanderbilt was counted among the world's richest people. Fortune's Children tells the dramatic story of all the amazingly colorful spenders who dissipated such a vast inheritance.

Book Fortune's Children: The Fall of the House of Vanderbilt Review :



Released I believe in 1989 (hardcover) this is a truly remarkable read considering its author is a member of this family line. To read of the truly decadent lifestyles of the gilded age affluent is appalling. We witness the same thing really today with celebrities etc. As a woman, the most appalling thing to me in my opinion, is that it was the women in these families who were ever striving to climb their social ladder and impress, thereby neglecting their children and ordinary common sense in their hell bent desire to be queen of their realm. Yes, the menfolk did their part in enjoying decadence thus producing a social bubble that could never last. It is a tribute to Gloria Vanderbilt, now 94, that she forged her own path successfully without the castles and European antiquity shopping her ancestors so desperately engaged in. What is a real shame is that most of these magnificent temples to architecture are gone and they went with nary a whimper with their priceless treasures and decor sold for next to nothing in comparison to their purchase prices. An excellent read that every American should read!
By fair means and foul, Cornelius "Commodore" Vanderbilt built a fortune of $105 million in the mid-nineteenth century. One hundred years later, most of that fortune was gone.In Fortune's Children, Arthur T. Vanderbilt II paints a vivid portrait of his ancestors. The Commodore is one of the most important capitalists this country has ever produced, and with the marriage of his great-granddaughter to the Duke of Marlborough, this book will make excellent reading for any fan of Downton Abbey.The author states that the fortune dissipated quickly because the Commodore was the first and only Vanderbilt who was obsessed with making money. The Vanderbilt men who followed were obsessed with keeping it. You need both to maintain those bank balances. Some-- like Alva Belmont Vanderbilt-- were obsessed with spending it to ram their way into New York's high society. Alva built some of the largest and most ostentatious homes ever to grace these shores, and the houses' interiors were even more lavish than their exteriors. Each of the author's ancestors is portrayed with wit and sorrow, which can often happen with the "advantage" of hindsight.This is an absorbing tale of greed, snobbery, and profligacy that kept me fascinated from first page to last. If this is your cup of tea, I urge you to pour yourself some.

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