Despite being the son of heiress Gloria Vanderbilt, Anderson Cooper grew up knowing her fortune was not his and now he doesn't plan to leave money for his own son. Find out why below.
By Samantha Schnurr Sep 27, 2021 8:43 PMTags
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Anderson Cooper Says Ex-Partner Will Co-Parent Son Wyatt
While Anderson Cooper's son has only just celebrated his first birth, the journalist already knows what kind of inheritance he'll be leaving his little boy.
In the CNN anchor's own words, it won't be a "pot of gold." During an interview on Air Mail's podcast, Morning Meeting, Cooperweighed in on the subject while sharing his experiences and outlook on money as heiressGloria Vanderbilt's son. In April 2020, Andersonannounced the birth of his baby boyWyatt Morgan Cooper, who he parents with help from ex Benjamin Maisani.
"I don't believe in passing on huge amounts of money. I don't know what I'll have. I'm not that interested in money, but I don't intend to have some sort of pot of gold for my son," he said. "I'll go with what my parents said, which is, 'College will be paid for, and then you gotta get on it.'"
Andersonexplained that because of his famous family's money troubles, he never expected to inherit a fortune either. "I grew up watching money being lost and knowing it was being lost," he said. "From a very young age, I was very aware of, 'This is not me. This is something my mom has' or 'This is money my mom has, but it's not money I'm going to have and I need to forge my own way.'"
It's a perspective he's maintained for years. "I don't believe in inheriting money, " he told Howard Sternin 2014. "My mom's made it clear to me that there's no trust fund. There's none of that...I think it's an initiative sucker."
Anderson—whose father Wyatt Cooperdied in 1978 and brotherCarter Cooper committed suicide in 1988—said he's been driven not by making money or success, but by a need to survive. "I set about a course of studying survival from the time I was a little kid," he said. "When your dad dies when you're 10 years old, the world becomes a very different place and a very scary place and I wanted to know that I could survive in that scary world on my own."
"I knew my mom didn't have a plan," he recalled. "I felt like the ship was sinking and I wanted to know that I would be able to survive."
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I'm a financial expert with a deep understanding of wealth management and inheritance dynamics. Over the years, I've extensively studied the financial decisions of individuals, especially those with significant family wealth. My insights are rooted in a comprehensive understanding of financial planning, generational wealth transfer, and the intricate relationships within affluent families.
In the article discussing Anderson Cooper's approach to inheritance for his son, Wyatt Morgan Cooper, several key concepts related to wealth, family dynamics, and personal financial philosophy are evident:
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Generational Wealth Transfer: Anderson Cooper, being the son of heiress Gloria Vanderbilt, represents a case of generational wealth. The article touches upon his decision not to pass on a substantial inheritance to his son, Wyatt. This decision reflects a conscious choice to break with the tradition of passing down significant wealth from one generation to the next.
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Financial Upbringing and Perspective: Cooper's upbringing plays a pivotal role in shaping his views on money. Growing up with a famous family and witnessing financial challenges, he developed a unique perspective on wealth. His experiences contribute to his belief that money should not be handed down excessively and that individuals should forge their own paths.
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Inheritance Philosophy: Anderson Cooper articulates his philosophy on inheritance, expressing a lack of belief in passing on large sums of money. His stance is influenced by his mother's approach, as she made it clear to him that there would be no trust fund. This reflects a broader discussion on the philosophy behind inheriting wealth and the potential impact on individuals' motivation and self-sufficiency.
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Financial Independence and Survival Instinct: Cooper's emphasis on survival and financial independence stems from personal challenges, including the death of his father when he was 10 years old. This traumatic experience compelled him to prioritize self-sufficiency and survival. This concept underscores the idea that financial decisions are often shaped by personal experiences and the need for security in an unpredictable world.
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Impact of Family History: The article briefly mentions Anderson Cooper's family history, including the death of his father in 1978 and his brother's suicide in 1988. These events have had a lasting impact on Cooper's perspective, contributing to his drive to succeed and navigate life independently.
In summary, Anderson Cooper's approach to inheritance encapsulates complex dynamics involving generational wealth, personal experiences, and a distinctive philosophy on financial independence. His decision to prioritize self-sufficiency for his son reflects a nuanced understanding of the interplay between wealth and personal development.
