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Why Gloria Vanderbilt didn’t believe in leaving an inheritance

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“Gloria Vanderbilt was 95 years old when she died. What an extraordinary life. What an extraordinary mom. What an incredible woman.”

So said Anderson Cooper, the most well-known of his famous mother’s children, in his eulogy.

Vanderbilt was extraordinary. Although she was a scion of a great fortune and inherited a trust fund that was worth $5 million in 1925 (the equivalent of $73 million today), she established herself as an artist and fashion entrepreneur in her own right and was reportedly worth around $200 million at the time of her death from stomach cancer. But Cooper won’t be getting a penny of it, although........

© Fast Company