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The Vanderbilts were once the world's richest family, and made its millions in the railroad and shipping industries, but the money faded rapidly. When 120 Vanderbilts gathered for a reunion in 1973, not a single millionaire was present. So how did the Vanderbilt family lose all of their wealth?
The Vanderbilt legacy started from Cornelius "the Commodore" Vanderbilt, who came from a poor farming family in New York, who borrowed $100 from his mother when he was 16 in exchange for ploughing eight acres of land. He spent the $100 - approximately $2,100 today - on a boat in 1810. He then used the boat to launch his own transport and freight company. The Commodore eventually invested in railroads and steamships, which quickly expanded to New York, and would eventually become the richest person in America.
![](https://i.ytimg.com/vi/dUCbo7m8ZmU/maxresdefault.jpg)