Gloria Vanderbilt's son Anderson Cooper to inherit less than $1.5M, report says
By Katherine Lam Published July 08, 2019 Business LeadersFOXBusiness
Queen of several trades, Gloria Vanderbilt dies at 95
Model, clothing designer, heiress and socialite Gloria Vanderbilt died at age 95. Her son, CNN anchor Anderson Cooper, made the announcement.
Anderson Cooper will inherit some of his mother Gloria Vanderbilt's estate after all — but not the multimillions of dollars fans speculated.
The CNN anchor will receive less than $1.5 million while Vanderbilt's oldest son, Leopold "Stan" Stokowski, gets the socialite's Manhattan co-op, Page Six reported, citing probate documents filed after the 95-year-old's death on June 17. The amount represents the total value of Vanderbilt's estate at the time of her death.
Reports initially indicated that Vanderbilt had an estimated net worth of $200 million. Her family's fortune, however, diminished over the years due to charitable donations and lavish spending, Forbes reported. Some believed Vanderbilt would donate the rest of her fortune to philanthropy.
HOW GLORIA VANDERBILT BECAME A DESIGNER JEANS PIONEER, FASHION INDUSTRY LEADER
WHY GLORIA VANDERBILT'S SON ANDERSON COOPER LIKELY WON'T INHERIT HER MASSIVE FORTUNE
The $1.5 million inheritance is more than what Cooper was expecting to receive. The "Anderson Cooper 360" anchor told Howard Stern on his radio show in 2014 that his mother made it clear "there is no inheritance."
"My mom's made clear to me that there's no trust fund. There's none of that," Cooper told Stern. "[And] I don't believe in inheriting money."
The "Anderson Cooper 360" anchor said inheriting money was an "initiative sucker" and a "curse."
CNN anchor Anderson Cooper and his mother, Gloria Vanderbilt. (AP)
"Who has inherited a lot of money that has gone on to do things in their own life?" Cooper asked Stern. "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, who died in June after battling stomach cancer, knew the consequences of inheriting a large sum of money. The great-great-granddaughter of financier Cornelius Vanderbilt became known as the "poor little rich girl" in 1934 at age 10 when her mother, Gloria Morgan Vanderbilt, and aunt, Gertrude Vanderbilt Whitney, were embroiled in a custody dispute that involved her $5 million trust fund.
Whitney eventually won custody, and by 1945, Vanderbilt came into her own trust fund at age 21.
Vanderbilt eventually built a career as an artist, fashion designer, actress and socialite. She was celebrated in the fashion world in the 1970s and went on to sell millions of pairs of jeans with her trademark white swan logo.