Were the Vanderbilts New Money? A Gilded Tale
Ever wonder how America's wealthiest families gained their social status? Were the Vanderbilts new money, or did they always belong to New York's elite circles?
In their book Vanderbilt, Anderson Cooper and Katherine Howe explore the fascinating journey of one of America's most famous families. You'll discover how the Vanderbilts rose from humble beginnings to become a symbol of the Gilded Age, and their struggle for acceptance among New York's established elite.
Keep reading to uncover the dramatic story of the Vanderbilts' quest for social recognition and the lasting impact they left on American society.
The Vanderbilts: New Money in Old New York
When you think of the Gilded Age, the Vanderbilt name probably comes to mind. But were the Vanderbilts new money? The answer is a resounding yes. Despite their immense wealth, the Vanderbilts were indeed considered "new money" and seen as newcomers to New York's elite social circles. Their journey to acceptance in these exclusive groups was far from smooth, as they struggled to overcome their reputation as nouveau riche.
From Humble Beginnings to Vast Wealth
The Vanderbilt family's rise to prominence began with Cornelius Vanderbilt, known as "The Commodore." He started his business empire at the tender age of 16 by running a ferry service in Staten Island. Through his sharp business acumen and opportunistic nature, Cornelius expanded into steamboats and eventually revolutionized American commerce through his involvement in the railway industry.
By the time of his death, the Commodore had amassed a fortune that made him America's richest individual. He controlled an astounding 5% of the money in circulation in the United States. This vast wealth set the stage for the Vanderbilts' quest for social acceptance, but it also marked them as newcomers in the eyes of New York's established elite.
The Struggle for Social Acceptance
Despite their enormous wealth, the Vanderbilts found themselves on the outside looking in when it came to New York's most prestigious social circles. The Commodore's direct and unsophisticated approach didn't win him many fans among the social elite. Even in his final hours, he lived near Washington Square, an area synonymous with the very circles that continually shunned him.
After the Commodore's death, his son Billy Vanderbilt made earnest efforts to cement the family's status within New York's elite. The Vanderbilts attempted to gain respect and credibility by flaunting their immense wealth. Alva Vanderbilt, in particular, excelled at this strategy, orchestrating extravagant galas that generated buzz through deliberate advertising.
The Four Hundred: The Ultimate Social Goal
The pinnacle of New York society was known as the "Four Hundred," a group established by Caroline Astor in collaboration with Ward McAllister. To be accepted into this privileged circle, one had to exhibit an air of refinement that reflected esteemed traditions from across the Atlantic.
For the Vanderbilts, gaining entry into this elite group became their ultimate goal. Their breakthrough came when they received a calling card from Caroline Astor herself, signaling their acceptance into high society.
Alva Vanderbilt: The Social Strategist
Alva Vanderbilt played a crucial role in elevating her family's social standing. She skillfully orchestrated social events and even secured a marriage for her daughter to European nobility. Alva's social prowess and architectural accomplishments were instrumental in raising the Vanderbilts' status and securing their place within the Four Hundred.
Displaying Wealth Through Opulence
To showcase their wealth and cement their social status, the Vanderbilts constructed opulent homes and threw lavish parties. One of their most famous residences was the Breakers mansion in Newport, Rhode Island, which remains a popular tourist destination today. These grand estates incorporated materials and craftsmanship from around the world, featuring impressive art collections and exceptional architectural skill.
Perhaps the most famous display of Vanderbilt opulence was Alva Vanderbilt's masquerade ball at the Petit Chateau on Fifth Avenue. This extravagant affair, attended by over a thousand guests in lavish costumes, epitomized the excess of the Gilded Age. The event featured a midnight feast, dual orchestras, and decorations that included a multitude of orchids and American Beauty roses worth the modern equivalent of $280,000.
Philanthropy and Cultural Patronage
The Vanderbilts also channeled their wealth into philanthropic activities and cultural initiatives. Cornelius Vanderbilt founded Vanderbilt University in Tennessee, which stands as an enduring tribute to the family's legacy. Later generations became art patrons, amassing notable collections and supporting museums.
Gertrude Vanderbilt Whitney, in particular, demonstrated a deep commitment to fostering American art. When the Metropolitan Museum of Art rejected her collection, she founded the Whitney Museum of American Art, providing a platform for American artists at a time when European art dominated the scene.
The Decline of the Vanderbilt Dynasty
Despite their eventual acceptance into New York's elite circles, the Vanderbilt family's prominence was relatively short-lived. Subsequent generations struggled to maintain the family fortune, with many descendants gaining notoriety for their lavish spending and failed investments.
Cornelius Jeremiah Vanderbilt, for instance, faced significant financial difficulties and relied on support from his relatives. His imprisonment for unpaid debts in the 1880s marked the beginning of the family's financial decline. Later generations, including Reggie Vanderbilt and his daughter Gloria, continued this trend of extravagant spending and poor financial management.
As their fortune waned, so did the Vanderbilts' social standing and influence. High-profile divorces and breaches of social conventions diminished their reputation. The family's once-great status is now symbolized by their reduced control over landmark estates like The Breakers and the deteriorating condition of the Vanderbilt mausoleum.
In the end, the Vanderbilts' legacy evolved from one of power and wealth to a cautionary tale of excess and decline. Their story serves as a reminder that in the world of New York's elite, new money could buy mansions and throw lavish parties, but true acceptance was a far more elusive goal.