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How The Vanderbilt Family Lost Their Entire Fortune

How The Vanderbilt Family Lost Their Entire Fortune

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Railroad industrialist Cornelius "the Commodore" Vanderbilt died at his Manhattan home on January 4, 1877. His significant fortune was inherited by his already wealthy son and grandsons, without the impediment of inheritance tax, income tax, or tax on corporate earnings. The younger Vanderbilt families would go on to build extravagant mansions in New York, Newport and other destinations to establish themselves in society. Vanderbilt's granddaughter-in-law, Alva, in particular took this task to h

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