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“I’m going to go by what my parents said … ‘College gets paid, and then you have to do it,” “Cooper said.

Last month, CNN broadcaster Anderson Cooper made a variety of public appearances, discussing his new book, Vanderbilt: The Rise and Fall of an American Dynasty, which portrays his maternal family history. Cooper is descended from Cornelius Vanderbilt, one of the richest personalities in American history. In recent years, however, the family has maintained a different approach to inherited wealth.

In a recent interview, Cooper stated that despite his family’s money, he will not leave his 17-month-old son Wyatt a great inheritance. He models the plan after that of his mother, Gloria Vanderbilt’s own.

“I’m not that into money, but I don’t plan on having some kind of pot of gold for my son,” Cooper said on Air Mail’s Morning Meeting podcast. “I’m following what my parents said … ‘College gets paid, and then you have to do it.'”

The broadcaster noted that this approach influenced his own childhood. Once the richest family in America, the Vanderbilts built sprawling mansions along the entire east coast. However, the family eventually lost much of their fortune, which resulted in many of the homes being demolished or turned into museums.

Commented, Cooper noted, “I grew up losing money and knew it was lost and already in At a young age I was very aware that this was not me – this is money my mother has, but it’s not money I’m going to have and I have to go my own way. ‘”

Ref: https://www.townandcountrymag.com