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Mismanagement, family disputes, and changing economic conditions
- The Vanderbilt fortune declined due to a combination of factors including mismanagement, family disputes, and changing economic conditions. Poor financial decisions, lavish spending, and unsuccessful investments also contributed to the erosion of the family’s wealth.
www.thestockdork.com/how-did-the-vanderbilts-make-their-money/How Did the Vanderbilts Make Their Money? Origins of American ...
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Jan 29, 2021 · At the time of his death in 1877, his fortune was valued at $100 million (equal to nearly $2.5 billion today, via the Official Data Foundation), which was more money than was held in the U.S. Treasury at the time, according to Forbes.
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The rumor was given legs when a 1959 book World Beneath The...
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Jul 3, 2024 · Between 1877, when his father died, and William Henry's own death in 1885, the Vanderbilt 's fortune increased from $100 million—more than that of the U.S. Treasury—to over $200 million because of William Henry's business efforts.
Young Billy did his best: he inherited the family's 87% stake in New York Central and expanded the business, reportedly doubling the family fortune to over $200 million.
Aug 27, 2023 · Slowly but surely, the Vanderbilt fortune was being dwindled away. By the time the 1920s rolled around, new federal taxes began to take a toll on the family’s wealth. During the Depression, properties were sold off and torn down in an attempt to gain back any of the lost riches.
Jun 1, 2015 · At one point, Cornelius Vanderbilt was worth more than the US Treasury. So how did his family end up virtually penniless, just a few generations later?
The family's fortune was created by Commodore Vanderbilt, who at the time of his death in 1877, left an estate worth over $100m. Estimates put that amount of money as an equivalent of around $200bn[1].