Why Anderson Cooper won't get a cent of mum Gloria Vanderbilt's $290 million fortune
Socialite, heiress and fashion icon Gloria Vanderbilt passed away this week with an estimated $290 million to her name.
However, her surviving three children, which include CNN anchor Anderson Cooper, aren’t expecting to inherit any of the remaining wealth.
It’s an arrangement that they’ve all been aware about for years.
Cooper revealed to Howard Stern during a radio interview reported by Business Insider several years ago that he’s not getting anything from his mother.
“My mum’s made clear to me that there’s no trust fund. There’s none of that,” explained Cooper.
However, it’s something that Cooper is OK with.
“I don’t believe in inheriting money. I think it’s an initiative sucker. I think it’s a curse.”
He justified his point by saying he’s “doing fine on my own”.
“Who has inherited a lot of money that has gone on to do things in their own life? 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 have been so motivated.”
Ms Vanderbilt also spoke about her difficult relationship with her inheritance, telling The New York Times about her experience.
“I’m not knocking inherited money,” she explained.
“But the money I’ve made has a reality to me that inherited money doesn’t have.
“As the Billie Holiday song goes, ‘Mama may have and Papa may have, but God bless the child that’s got his own’.”
At the time of her passing, Ms Vanderbilt had reportedly already spent a great deal of her fortune, as well as donating to charity.