The Vanderbilts were once the richest family on the planet. Here's how they lost their fortune

By 1973 , when 120 Vanderbilts came together for a reunion, there wasn't a single millionaire in attendance.

At the time of his death in 1877 , the Commodore's fortune was valued at $100 million , equal to nearly $2.5 billion today .

The Commodore is said to have told his oldest son, William Henry Billy Vanderbilt , 'Any fool can make a fortune. It takes a man of brains to hold on to it'.

The Vanderbilt family grew their wealth during an era where business regulation was practically non existent.

By being able to monopolize entire industries, they became unimaginably rich with no restrictions or taxes affecting their fortunes.

After the Great Depression hit, the Vanderbilt 's excessive spending and lack of zeal toward growing their family wealth meant that the taxes and depression affected them much more seriously.

New York Central went from being the second largest railroad in the United States to having its then current iteration go bankrupt in 1970 .

The Vanderbilts had failed to establish any significant businesses that would have them maintain their status as one of America 's wealthiest families.

By the late 20th century , barely 100 years after the Commodore had become the richest man in America and his son the world's richest man, the Vanderbilt family fortune had dwindled into insignificance.