What does the Vanderbilt/Carnegie family own in the US today? :) They're not even in the billionaire list :) ... — Agustino
It didn't disappear.
Your question is simple, but the answer is complex -- I'll just scratch at it. There is a lot of information out there about who earned the big piles of money, and how that fortune has flowed over the decades.
Even when there aren't any rich heirs, many of the rich people left behind large land holdings, urban real estate, and so forth that passed into the hands of the state, the church, universities, and so on. Frequently these properties have been preserved as state parks, museums, schools, etc. In New York, for instance, the Empire State Building was built on land owned by the Astor Family. (John Jacob Astor, et al) A couple of early New York City (hey -- New Amsterdam!) families still own quite a few parcels of land on which big buildings sit.
What happened to all their money?
Many of the very rich men of the late 19th early 20th century set up foundations into which a substantial portion of their filthy lucre was poured, then the income from the funds directed to be used for philanthropic, benevolent purposes. Ford Foundation is a good example. Over the generations since the death of the Original Accumulator, the fortunes have been diluted -- spread out over an ever larger number of heirs.
Rockefeller: (oil - Standard Oil) a large amount of Rockefeller went into buying the land for, and building Rockefeller Center. It was a huge outlay. Begum in 1929, about, it didn't make any money at all for the first 15 years. Now it is quite profitable. The rest of the money? Willed to successive generations of, reducing each descendent's share. Quite a bit of it went into the Rockefeller Foundation and The Rockefeller University (a graduate medicine research institution) and Rockefeller Hospital.
Vanderbilt: Their fortune was made in railroads like the New York Central -- now merged into some multiply successive corporation. However, they made a lot. The Vanderbilt's farm was the 146,000 acre Biltmore estate in North Carolina. They bought and built a lot of real estate. Some of it is still kicking around. The rest of the money? Willed to successive generations of, reducing each descendent's share.
Carnegie: (railroads, coal, shipping, and steel) Proportionately, Carnegie was richer than Bill Gates. He decided to give away his fortune when he retired and discovered it was difficult to give it away fast enough -- income kept coming in. Carnie funded all sorts of institutions -- the endowment still does -- like libraries in small towns across the country (2,508 libraries around the English speaking world); Carnegie Mellon University is a descendent. Numerous churches and colleges were beneficiaries. Carnegie Hall in NYC; Carnegie Library and Carnegie Museum of Pittsburgh; Carnegie Trust for the Universities of Scotland; Carnegie Institution of Washington, D.C.--contributing to, among other things, hybrid corn, radar, the technology that led to Pyrex® glass, and novel techniques to control genes called RNA interference; 2 of the big telescopes in Chile are Carnegie Institution beneficiaries; Carnegie Foundation in The Hague; The Carnegie Dunfermline Trust, Scotland; Carnegie Hero Fund Commission; The Carnegie Foundation for the Advancement of Teaching (TIAA-CREF, professors retirement fund was started by this foundation; TIAA is now worth about $350,000,000,000--not from Carnegie, of course; Carnegie Endowment for International Peace; Carnegie Corporation of New York -- set up to distribute philanthropic funds. The United Kingdom Trust; Carnegie Council for Ethics on International Affairs;
Here are some large foundations:
1.
Bill & Melinda Gates Foundation (WA)
$44,320,862,806 (Microsoft)
2.
Ford Foundation (NY)
12,400,460,000 (cars)
3.
J. Paul Getty Trust (CA)
11,982,862,131 (oil)
4.
The Robert Wood Johnson Foundation (NJ)
10,501,370,521
5.
Lilly Endowment Inc. (IN)
9,995,102,248 (pharmaceuticals)
6.
The William and Flora Hewlett Foundation (CA)
9,042,503,000 (technology)
7.
W. K. Kellogg Foundation (MI)
8,621,183,526 (breakfast foods)
8.
The David and Lucile Packard Foundation (CA)
7,084,903,284 (technology)
9.
Gordon and Betty Moore Foundation (CA)
6,559,384,939
10.
Bloomberg Philanthropies (NY)
6,550,282,874 (business data)