Review by Myra Salzer
A book written by Anderson Cooper and Katherine Howe. How could I not immediately download it and begin reading? A few days later, I am happy to report that it was worth every minute. It probably comes as no surprise to you that I would be interested in the topic, not only because it’s about a family of wealth, but also because the author, Anderson Cooper, is someone whom I admire. I knew that he was the son of Gloria Vanderbilt, and therefore a member of the Vanderbilt family, and was surprised that he chose to write about the Astors rather than the Vanderbilts. Little did I know he had already written a book about the Vanderbilts.
The book covers five generations, starting with the ruthless John Jacob Astor, who made his initial fortune selling beaver pelts. Without sensationalizing, we learned how the family fortune and the internal friction among family members both grew. The reader gets a clear understanding of the protocols of the gilded age, which, though romantic from the perspective of the wealthy, were dire and full of hardship among the immigrants and freed slaves, not to mention the disabled or mentally ill population. The disparity of wealth during that period was even greater than what we are experiencing now in the United States.
I have often become irritated on behalf of some of our clients who have received their money in the form of draconian trusts that diminish their personal growth and independence. After reading the book, I realized this is just how things were done 100+ years ago.
Definitely worth reading! And I look forward to reading Vanderbilt next.