What happened to America's Gilded Age Families | The Astors
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- čas přidán 3. 07. 2022
- Have you ever wondered what happened to the #GildedAge families of America? Then stick around!
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Like the saying: The first generation makes the money, the second generation enjoys the money, the third generation loses the money.
Proven to be true over and over again.
Well, according to this video, a lot of Astors did not do too badly.
Also think about it. By the time we get to the third generation, the pie is divided into a lot more, smaller slices.
We 🇬🇧 say from “shoes to clogs in three generations “
Three generations, a.k.a. Thunder, wonder & plunder
I had the pleasure of meeting Brooke Astor several times as I consulted with several of the charities she helped support. Wonderful lady -- an old-fashioned grande dame -- and very, very gracious!
Yes, she was a first class human being!
I live in a brick Victorian Mansion in old Louisville. It was built in 1890 and has 5000 sf. Most of the interior is from 1890. Stain glass, tigerwood floors mahogany 10 ft foors, etc!! They really could build in the guilded age!!
It sounds gorgeous! Antique architecture is fascinating.
I agree, there is a reason these home have survived over 100 years! I live in Chicago, and love viewing those homes!
Yes it's true but the reason is back then and up to prewar buildings the quality of material was high and labor was cheap. Now it's the opposite.
That is amazing! I love old Victorian homes! They definitely don't make em like that anymore. I love the layout, the craftsmanship, the decor and furnishings, everything! U are so lucky to have been able to live in such an incredible home.
Brook Astor in the 70's was the queen of NY high society and was a great philanthropist. She showed the rich how to spend their money. Clearly she took a lesson from the great families of the Italian Renaissance and the city is better for it.
Fun Fact: On the British Branch - the 2nd Viscount Astor - was a MP but when he inherited his father's title he moved to the House of Lords, so his wife Nancy Astor was elected in his place in 1919 and became the first Women to sit in the House of Commons as women (over 30) got the vote in 1918
Although an Irish MP Constance Markievicz had been elected in 1918 but her party Sinn Fein didnt take their seats - they still don't
It was Brooke's grandson who blew the whistle on his father's and his ("socialite" -- in reality,
"social-climbing") stepmother's fraud. They left Brooke alone in her NYC home without a
care or hiring a skilled nurse to look after her! They also almost emptied her country home
(not a cabin in the woods by any means) of its artwork and antiques!
Your sense of humor is *chef's kiss*
So glad I found your channel.
If you haven't found the info yet, Charlene Marshall Astor is currently 77 years old (she was born in July 1945).
Wow! How sad. How fast it all goes away. The money, the houses -- the clothes. Very interesting.
The Actors were wealthy e ause they got lucky, not because they knew something profound about life that the rest of us don't. They are not a genius family, obviously.
jj the first told his heir to burn all of his communications and business contacts when he died, which he did and told his son to do the same when he passed. By tht time they owned most of manhattan😭 no one was getting tht money. pretty genius if you ask me
Edit: terrible but still
This was awesome! Ive been seeing these peoples houses all over the country. The Newport mansions are the epitome of gilded age. The biltmore down south is one of the best. Even been to the originator or the term guilded ages home. Out of all of them it would be Mark Twains home I would personally live in. Im sooo looking forward to more of these. Ive even been to the private Vanderbilt tomb. Its fascinating to follow the peoples lives that shaped America.
Robber Barons.
The Astor's we're Rothschild agent.
Great video. Thank you. Amazing how the grandkids always waste perfectly good money on lawyers in an attempt to get even more money than they're due. Good for the women for making so many donations.
- Cathy (&, accidently, Steve), Ottawa/Bytown/Pimisi
The English one owned hever castle and made it look beautiful, I went today and apparently the queen mother was courted there by Bertie aka the king ie parents of queen Elizabeth.
This was fantastic! Just found your channel and can't wait to watch more!!
There are many wealthy people I know or have known. I'm comfortable with my income. Having learned a lot from wealthy friends, then, applied it, I do okay.
The two lessons I learned from my friends are to remain humble, neither dish out nor accept BS.
If I had HBO max, I would have happily shared my password with you 😁
Nice initiation of series. Keep it up 😊
Another wsy the American Astor Family got rich is because they owned a lot of New York real estate, including slum property. When Vincent Astor found out he was getting rich from slum property, he sold it and gave the proceeeds to charity. Vincent Astor and President Franklin D. Roosevelt were distant cousin's. FDR's step brother married Helen Astor. They were also good friends and they went deep sea fishing on Vincent's yacht.
I get a real kick out of your sense of humor 🤣
Great video and really appreciate all the information you really did some research 😃
That's an incredible lamp!
You forgot the second son of John Jacob Astor’s (the one who died on the Titanic) second son born posthumously to his second wife Madeline
Love your delivery and humor. Definitely subscribed. I enjoy history as a hobby, so this is right up my alley. Thank you.
Jacob Astor was the richest man in America when he died in 1848. There is a street named Astor Place where a subway station with that name and it is 1 block away from where my late mother paid her union dues. I ought to know. I am a New Yorker who grew up in NYC during the Mad Men era of the 1960s.
I’m so pleased I discovered your channel. Looking forward to enjoying all of your videos. Cheers 😉🌹
The problem with equating past wealth to current wealth is that the cost of what mattered then was way different than today. Labor and material were much cheaper so they had these huge houses with cheap labor (servants). Everyone thinks it would be grand to live then and be wealthy but there were also great drawback to this period. Even the wealthy lost many children to an early death. Healthcare was very limited compared to today and even electricity was only around for the end of the Gilded Age. In fact in many respects what pass for the poor today live better lives the wealthy 150 years ago or even the Emperor in ancient Rome!
Imagine how the future will be so much better than the life we live today.
Our reality is a hell compared to what the future holds for human kind.
The future is so bright, so beautiful.
John Jacob Astor IV American business magnate died on the Titanic !!!
Thank you for doing these videos! I’ve been obsessed with The Gilded Age and the people who were involved since I’ve been little. I’ve read every book that’s been written on the subject and it’s all fascinating. I’ve just finished The Second Mrs. Astor which was about JJ IV second wife Madeleine. She was with him when the Titanic sunk. She was 5 months pregnant. She lived and had a son. Very fascinating book!
For a family of untold wealth, for the present British Astor to be worth only a couple million, is sad. It’s isn’t difficult to have a million dollar net worth by his age
William Astor was Briefly engaged to Ellen Gellespie 1916-2008 who apparently broke off the engagement bc. she found him in her words " Too Irresponsible and immature". Her family Founded Brown University .
You have to remember that the Gilded Age didn't have taxes, but those later on did have to pay taxes.
must say, I clicked because of the Astor's, haven't watched the show. I stumbled upon the audio book "Astoria" during a 2 for 1 audible deal and it's so good. highly recommend!
will check out Astoria, but I stumbled on this great segment because I was inspired to look up JJA IV after just finishing the marvelous "The Second Mrs. Astor," about him and his 18-year-old bride Madeleine Force, their tragic tale which ended on the Titanic. It was excellent, and very moving, so if you liked Astoria, I'm sure you'd love this.
I wonder if all of these confusing John Jacobs is the origin of the silly song. His name is my name too!
They got rich due to their business, not because of corrupt dealings with China or Ukraine.
"Our Crowd" by Stephen Birmingham is a very interesting and readable book about the parallel social scene in New York City - the wealthy Jewish families, many of whom were very generous. I grew up in northern New Jersey, where a large home in town was the Astor estate (which Astor?), that was bought by the town & used for offices. Another local name was Schiff, as we went to the Schiff Reservation for day camp swimming. Schiff (can't remember his first name) was one of the very wealthy, very generous Jewish businessmen of that era.
I was on Astor place in Greenwich village in Manhattan today, they own a lot of land!
Really interesting. Thanks for all your research!
Thanks for watching!
Did it dwindle or is it just subdivided among a more numerous number of descendants like the Du Ponts?
Thank you for your information about the Astors...Lady Nancy Astor was my great great Aunt...I am connected to the House of Haig...my great great Grandmother was Lady Charlotte Haig...Earl Douglas Haig's sister...Lady Nancy Astor was the first Woman in the British Parliament!!!Thank you againxxx
Great video, looking forward to watching more of your channel indeed! Do you have any inside, detailed information about the "Rokeby Astor" branch, aka "The Astor Orphans"? I've been watching some of Alexandra Aldrich's videos and THAT seems to be a story maybe even more harrowing, or at least as crazy, as the more infamous Grey Garden Bouvier tale everybody knows about? Can't wait to learn more from you!
That sounds like an interesting idea for a video!
Love love love your channel
Thank you for your video I really enjoy the history of these families
You might want to look into the life of Lady Nancy Astor, who was born in Virginia and moved to England where she was elected to Parliament and became a close friend of G. Bernard Shaw and a famous foil of Winston Churchill.
I believe she was also related to Mark Twain, with whom she shared a rapier-like wit.
After the death of her husband she moved back to Virginia, where she remained until her death in 1964.
She had two sons-Jacky and Michael-both of whom were officers in the British Army in WWII.
It was told John Jacob the fur trader got rich by betrayal or wilfull intent to defraud. Who knows?
yes there’s actually been, I am relatively sure, some interesting socio-economical studies done on wealth accumulation in America, and how subsequent generations fritter it away versus re-investing it to continue to earn profits and returns on investments. I dunno if it is a specifically American phenomenon or what… and sorry I am unable to recall the official source of the study/ies. Just I remember reading about them when I was in my finance and economics classes in college. Very interesting indeed!
There was a time when a businessman would gain and lose several fortunes during his lifetime.
Nancy Astor became a member of Parliment in the UK, I believe the first ever woman to win a seat.
Thank you very much - good explained
Thanks for sharing. Interesting.
John Astor was involved with Oak Island,,Andrew Deveaux from south carolina and Manhattan ny alo bahamas ,cousins to elias ball, took Daniel McInis to Oak Island ,,Teddy Roosvelt descendent of Peter Deveaux...Some say he found captain kidds treasure,which is also a theory on oakisland. there is so much i could say but thats all i got now lol
LOL!!! "and no one will give me their hbo password."
I don't think we have to worry about today's hyper rich recycling very much money back to society.
What an interesting series! Can’t wait to learn more. It’s wild how much these families were allowed to amass on those days
Allowed? Who “allowed” them to amass money?
Allowed? What are you a sociopath
If you found Brook Astor Interesting. The book Mrs Astor Regrets by Meryl Gordon tells it all. The family fighting, lawsuits, and sadly the elder abuse.
Was this Astor family relations of Nancy Astor, the first female MP in the UK?
You can calculate current net worth easily. You just have to check for average prices of local items that are less impacted by technological changes, such as hand made clothes, fruits, wine, traditional kinds of cheese and meats, bread, grains such as oats, spirit, gold, diamonds etc. Then you calculate how much could you buy for, e.g. 1000 dollars now and then (so-called Big Mac Index). You can also use inflation data and do linear regression on it.
There's another way that's based on what fraction of the gross national product the fortune in question represented for any specific year and then how much you would need to get that same fraction today. Sounds rather complicated to me.
William Backhouse , Jr (Caroline's husband) was not the head of the family as he was the younger brother of JJ III. It seems that Brooke Astor was just following the wishes of her late husband to give the money away. He had had some type of an illness when young and so knew that he would never have children. He also came to really dislike his half-brother JJ VI and didn't want him getting any more family money (JJ IV never got to change his will leaving everything to Vincent). I do have to say that William Waldorf's daughter-in-law, Nancy (Lady Astor who while not the first woman elected to Parliament, was the first to take her seat) could give Caroline a run for her money in the fame department.
Well done!
I love this very interesting and illuminating discussion! Excellent research and presentation my dear! ❤
I'd love to see a review of The Gilded Age series from you. Hopefully someone can share their HBO password! Much love from Canada ❄💜
Maybe one day!
Brooke Astor was the Grand Dame of NYC and was also the richest woman in NYC when I was a boy in the 1960s. I dont know if she was still the richest woman in NYC when she died, but Melania Trump would be close before Trump became President.
I loved this!!!
Just me? Anyone else? Every time I hear "John Jacob", in my head I think "Jingleheimer Schmidt". I can't help it.
Thank you
thanks for your information, BUT I believe the money is for people who can multiply it, and I admire people who know how to make money, and last, not all billionaires made money by abusing the poor
They died and theres one survivor left in North America. Me.
Love your channel!!
Just a heads up, the Gilded Age has never ended for these Oligarchs we have here in the Ol' USA
Yes, in fact, I was surprised by how (comparatively) little money the 19th century robber barons had. Even when adjusted for inflation it’s just a fraction of the net worth of the likes of Bill Gates or Elon Musk or Jeff Bezos.
@@AdelaideBeemanWhite Your use of the word"comparatively" has to be given a lot of generosity to make sense here. Foregoing the fact that there was no income Tax , no labor laws and with an enormous growth in immigration to work in the factories the slum situations were far worse than current times. Everything i read told me that In 1890, 11 million of the nation's 12 million families earned less than $1200 per year; of this group, the average annual income was $380, well below the poverty line. Rockefeller, Cornelius Vanderbilt, Henry Ford, and Andrew Carnegie would by today's standards be measured in the hundreds of billions of dollars - far more than tech giants like Elon Musk, Bill Gates, Mark Zuckerberg, and even Jeff Bezos, the wealthiest individual in the world as of 2023.
By 1890, the top 1 percent of the U.S. population owned 51 percent of all wealth. The top 12 percent owned an astounding 86 percent. The lower 44 percent of U.S. population-almost half the country-owned just 1.2 percent
Nothing has changed much in 130 years except for the middle class. the poor and working class are still , for the most part, screwed.
But. as a lifelong New Yorker i do so love the older architecture and all the remnants that still exist.
I wish you the best of luck with your channel and all the success you deserve and hope it continues to grow.
Sorry about that blunt no in my original response. It was supposed to be a yes.
Well done. Look forward to hearing more
yes excellent video and in my opinion we’ve (America) been and or are still in a second guilded age, per se, right now. Like maybe for at least twenty years now or most of my lifetime. But that is my, one dude’s opinion.
Nowadays, it has become nearly impossible to translate the less inflated dollars of earlier times into today's currency due to the increasingly "modified" techniques of which consumer price indexing has been measured since the 80's or 90's. One rule of thumb is that if you have a stated sum from an earlier era and the fraudulent CPI now in use tells you it's worth a specific amount in 2023 dollars, you get a somewhat honest account if you nearly double it.
Ms astor passed away not long ago , I believe 2009 , her philanthropic work lives on today
But the money doesn't go back to the people.the bulk of it goes to the handlers
Well done 🎉
I have a painting of Mrs Astor in my room
I think that one of the astors owned the Times newspaper at a certain time
Any powerful family to add to discuss the Gilded Age?
The idea that money concentrated in families is hoarding shows how badly the educational system teaches economics.
What? you’re only leaving me 70 million when u die mom? (clubs aging frail mother on head with bat) I WANT MORE… THAT’S NOT ENOUGH!
Folgers, Hearsts, Rockefellers, and Morgan’s
This was so fun, thanks! I love what you are wearing, the lace blouse and pearly earrings. Your skin is like porcelain, so pale and clear, and your eyes are the same colour as mine. I would suggest a blue background rather than a white one, to set off your eyes and skin color. I know, I know . . . I am shallow🙂But you are very beautiful.
Oh thank you!
What about John Jacob Astor 4 new wife who was his new wife on the titanic. She survived and has his new baby.
Everyone that’s says families should give away there money fairly do it themself.
I caught that too. She does podcasts on the top .1% of the wealthy and she applauds that they should give it all away. She must be a socialist or worse.
I would not describe myself as a Socialist or as a Capitalist. I am a Quaker, and the Bible is clear on the topic of wealth: "Do not store up riches for yourselves here on earth, where moths and rust destroy, and robbers break in and steal. Instead, store up riches for yourselves in heaven, where moths and rust cannot destroy, and robbers cannot break in and steal. For your heart will always be where your riches are." -Matthew 6:19-21
It would be an improvement to differentiate the Industrialists, those who created wealth, from those who manipulated wealth for their own gains - the true "robber barons".
As Jesus says what if a man gains the world and loses his soul
He has a mountain in Antarctica named after him... 🧐🤔
good job ❤
Thank you so much 😀
It's good money should not be hoarded in one family but the charities that receive the money although good did not have anything to do with the accumulation of that money. The people that worked for the Astors did and I know it's the way it is but just think if Astors gave generous wages they'd have helped create a middle class.
Interesting how family fortunes not properly handled dwindle with generations..🤔 . I would love to see the Vanderbilt family next! please up it in the card note on the screen ! ! The Vanderbilt family is still a very well known "old money family " that's well known if you have any social climbing desires ...
A present-day scion of the Vanderbilt family is Anderson Cooper, who I understand is not doing too bad for himself.
Very interestingly while the Vanderbilts are considered "old money" today, in the 19th Century they were snubbed as "new money"!
funny good commentary, sobriquet, my favorite word, lol
Sorry you could not interview my late Aunt and Uncle. They were the Superintendent and Secretary of the Newport Casino (now Tennis Hall of Fame). The Casino was just that for the Bellevue Avenue crowd of millionaires. They did caution me that there are a number on inaccuracies in Mr. Amory's tome "The Last Resorts". My mothers folks came to Aquidneck Island in the 1630's with a grant from "Chuck" 1. Narragansett Bay
What about JJ Astor's other son with Madaline, who survived the Titanic?
I’m loving all the videos about customs and clothing and how things were in the American and Western European culture.
And then you said that people’s money should not stay in the family but should go back to the people…
I’m not sure I understand what you mean, there.
Perhaps you elaborate on that topic in one of your other videos.
The money does not go back to the people, unless the author means donating most of one's money to charities, which, let's admit it, is a rarity. Generally, the later generations squander it away or do bad investments, or there's a war or a recession. Mostly, though, they are more bent on spending the family money than on investing wisely, that's their eventual downfall.
@@myriamickx7969
I don’t know what she means other than, when you die, your family should give your savings to the government.
I was hoping she’d clarify.
They got rich based on colonization.
@@teoleno4019
Most of them got rich by investing their money wisely, being frugal, having intuition for coming trends and using their own money to purchase raw materials and then produce goods and services that they would then have in inventory and sell.
They risked their money to make money.
And they have the right to leave their money to whomever they wish.
The obvious dislike bias towards people that god forbid did well for themselves was quite annoying. I still taste the obvious lean towards socialism. Eecck
I'll give you my password. It is absolutely lovely I love love love the Gilded Age show.
They spent their fortune and Taxes, lol
Why didn’t you go into the story of the Astor orphans?
Interesting. There had to be at least one very charitable person, and at least one elder abuser in this story.
Maybe the American families aren’t around but they have British counterparts still thriving in the aristocracy
still going strong lol
I think a big chunk of the 400 million went to the bronx zoo.
These families still exist.
I do have a bit of issue with you sayong the weath should go back to the ppl, while charitable giving is great the fact is the economy is no 1 pie that some ppl hoard at the expense of everyone else. The pue in fact is a pie factory,at least in a free market society. The rub is when a few ppl exclude otheres throughgovernment requlation. That must be stopped
Mamie Eisenhower bangs.
Now some people get have to be elected to office to get that rich.
She left out the slaves - He made his money from Slavery too...