|CNN anchor Anderson Cooper should probably be thinking about padding his savings account, as he won’t be able to count on an inheritance from mother Gloria Vanderbilt.
“My mom made it very clear to me that she would pay for my college and stuff and that was it. There’s no inheritance,” Cooper said on the Howard Stern radio show April 1, according to CNN.
Gloria Vanderbilt, 90, is a clothing designer worth $200 million, according to Us Magazine. She is also the great-great-granddaughter of railroad mogul Cornelius Vanderbilt and heir of that family’s fortune. She inherited a trust worth around $4 million (around $65 million in 2014 dollars) — but it seems she wanted different things for her son.
Cooper Calls Inheritances “A Curse”
While inheritances often cause familial strife, it seems Cooper took his mother’s decision in stride and today is grateful for it.
“I think [an inheritance is] an initiative-sucker, I think it’s a curse,” Cooper told Howard Stern. “Who’s inherited a lot of money who’s gone on to do things in their own life? If I felt that there was some pot of gold waiting for me, I don’t know that I would have been so motivated.”
The initiative Cooper is talking about is what drove him to become once of the most famous news anchors in the U.S., earning a $10-million-a year salary from CNN.
Cooper also says that knowing he had to make it on his own also taught him to be financially responsible and instilled the value of saving money.
“I used to worry a ton,” Cooper said. “I got a job when I was 10 because I was obsessed with the looming financial collapse. I was convinced that everything was going to collapse, and I needed to sock away money.”
The news anchor seems to have taken the lesson to heart – Anderson Cooper’s net worth is estimated to be around $100 million.