Gloria Morgan Vanderbilt's Former Beverly Hills Home Just Hit The Market For $16.5 Million. Here's How Her Daughter Made Her $200 Million Fortune

CNN journalist Anderson Cooper‘s grandmother’s former Beverly Hills home has just gone on the market for $16.5 Million, realtor.com reports.

It's first time in 70 years that the property has been on the market. Cooper’s grandmother, Gloria Morgan Vanderbilt—who passed away in 1965—and her daughter, also called Gloria, lived in the home during an eventful time when the teenaged Gloria met and dated Hollywood legend and billionaire Howard Hughes.

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Initially, the elder Vanderbilt thought Hughes was interested in her, only to discover that her daughter piqued his interest—he was 20 years her senior. Hughes’ initial play was to ask the elder Vanderbilt if his daughter could screen test for a film before proceeding to take her out on a date. The Vanderbilt’s didn’t stay in the home long. The house was purchased 72 years ago by late Hollywood starlet Noreen Nash, who resided in the property until she died in 2023 at age 99.

One Of The Richest Families In America

Though the relationship with Hughes didn’t last, it wasn’t as if the Vanderbilt family didn’t have any financial pedigree. The younger Gloria was born into one of the richest families in America in 1924 in New York. Her great-grandfather, Cornelius Vanderbilt, built the New York Central Railroad. 

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Despite her family’s wealth, the younger Gloria Vanderbilt — who married Cooper’s father, Wyatt, her fourth marriage in August 1963 — made her own fortune in fashion and cosmetics in the 1970s. 

“She was on television commercials and walking down the street, people would stop her all the time and compliment the jeans and talk to her,” Cooper told People. “My brother and I had a game that, throughout the day, we would try to count how many women we saw with our mom’s names on their jeans.”

Gloria Vanderbilt’s Epic New York Eighties High Life

Vanderbilt lived the epic New York high life in the 1980s and 1990s in a six-bedroom townhouse that listed for $12 million when its then-owner put the home on the market in September 2022. According to a New York Times obituary, in infancy, she inherited a $2.5 million trust fund, equivalent to $37 million at the time of her death in 2019, which she could not touch until she was 21. However, her mother gained access to nearly $50,000 a year.

The Times reported that Gloria Vanderbilt earned over $17 million from 1978 to 1984. She abandoned her interest in the Gloria Vanderbilt Apparel Corporation when it was sold to the Jones Apparel Group in 2002 for $100 million. 

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A Change In Fortune

However, lavish spending and rising competition from other designer labels caused Gloria Vanderbilt’s fortunes to flounder. She moved into an apartment owned by her son, Anderson, now a media star with his own show on CNN. Although many sources, including Page Six, reported that Gloria Vanderbilt was worth $200 million at her death, the Los Angeles Times called that “wildly inaccurate,” claiming her estate's value was $1.5 million.

Anderson Cooper: Reviving A Financial Legacy

Despite his family’s wealth, Anderson Cooper is a self-made man. In his book, “Vanderbilt: The Rise and Fall of an American Dynasty,” Cooper says that the Vanderbilt family’s wealth had all but evaporated by the time he was born. “My mom made it clear to me that there’s no trust fund,” he told Howard Stern in 2014. Despite being a billionaire many times over in his her day, the last vestiges of Cornelius Vanderbilt’s staggering inflation-adjusted $185 billion fortune had disappeared when the company declared bankruptcy in 1971.

With a self-made fortune, estimated by USA Today, to be around $200 million, Anderson Cooper has single-handedly revived his family’s financial legacy.

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