Book · 1991 · Biography & Autobiography
Fortune's Children
The Fall of the House of Vanderbilt
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It's called Fortune's children and it's about how the Vanderbilt heirs spent their money and blew their fortune.
Why people recommend it
Fortune's Children by Arthur T. Vanderbilt is a cautionary historical account detailing the rapid accumulation and eventual dissipation of the colossal Vanderbilt family fortune. Morgan Housel discussed the book on The Tim Ferriss Show during episode 576, released on March 2, 2022, which centered on the psychology of money and picking the right game. Housel recommended the text to illustrate the often miserable lives and ultimate financial ruin experienced by the heirs of extreme wealth. By recounting how the Vanderbilt descendants spent and lost their immense fortunes, Housel used the book as a striking example of the complexities and pitfalls associated with generational wealth. Readers interested in economic history and human behavior will find this narrative to be a compelling and sobering examination of what happens when massive fortunes are mismanaged and squandered across successive generations.
Every mention
Morgan Housel it's called Fortune's children and it's about how the Vanderbilt heirs spent their money and blew their for… 1
“it's called Fortune's children and it's about how the Vanderbilt heirs spent their money and blew their fortune”
