Great fortunes often seem untouchable, but history proves otherwise. Grand estates, colossal businesses, and legendary fortunes have collapsed at staggering speed. The following stories reveal heirs who burned through riches and rewrote family legacies. Keep reading—you’ll see how wealth can vanish faster than it’s built.
Vanderbilts
Cornelius Vanderbilt’s railroad fortune once stood at an equivalent of $100–200 billion today. His heirs couldn’t hold on—lavish spending drained the wealth, and by 1973, not a single family member at their reunion was a millionaire. The Biltmore Estate turned into a financial strain, though Gloria Vanderbilt later rebuilt hers through fashion.
Dodges
Detroit celebrated the Dodge brothers for creating an auto giant valued at $146 million. Their heirs lacked the same drive, and the Chrysler sale marked the end of family control. Later, financial burdens led to the sale of their mansion, which was eventually demolished from the cityscape.
Hartfords
At its peak, A&P revolutionized shopping with 15,000 stores, but the Hartford brothers’ reckless leadership turned dominance into disaster. In the 1960s, mismanagement had weakened the chain, and later bankruptcies in 2010 and 2015 erased what remained. Their extravagant hobbies, including art collections, drained the family’s wealth.
Harrimans
Glory came early for E.H. Harriman, whose $400 million railroad fortune funded bold projects like mapping Alaska. His grandchildren, though, pursued risky ventures that erased it. Risky investments wasted millions. Ultimately, Union Pacific holdings slipped away, and their New York estate had to be donated.
Pritzkers
Family feuds ripped through the Hyatt empire of the Pritzker family, shrinking a $10 billion fortune. Infighting and lawsuits drained family trusts, while assets were sold under pressure. A penthouse in Chicago vanished quietly into another owner’s hands, and one heir’s tech gamble consumed millions. Still, the prestigious Pritzker Architecture Prize survived the turmoil.
Kluges
America once knew John Kluge as its richest man, with $5.6 billion to his name. That towering fortune collapsed under heirs who mishandled Metromedia’s legacy. Poor financial moves in the 2000s, followed by massive asset sales, slashed their wealth. Extravagant purchases only accelerated the decline.
Strohs
Detroit once showed off the Stroh Brewery as a proud landmark, but by 1999, the family sold everything. Mismanagement and failed diversification wiped out their wealth in the early 2000s. Even Formula One sponsorships failed to revive fortunes. Their unusual 19th-century corn-based recipe remains the family’s most enduring legacy.
Bordens
A Civil War hero to soldiers, Gail Borden’s condensed milk built a $150 million empire. His descendants, however, embraced luxury and squandered it fast. By the 1990s, family control of the company had ended. Rare cattle experiments cost millions, while debts strained family assets.
Pulitzers
The Pulitzer empire, founded by Joseph, unraveled over generations as quarrels and bad financial bets drained the fortune. Billionaire status vanished once the family sold off most media holdings by 2005. Still, his Pulitzer Prizes live on, even as heirs pursued various ventures.
McCormicks
The McCormick mechanical reaper revolutionized agriculture and created immense wealth. Yet Cyrus McCormick Jr.’s heirs squandered the $200 million fortune through reckless ventures. By the 1920s, it was gone. Their International Harvester shares disappeared by 1930, debts turned their Chicago estate into a school, and one heir lost millions on film.
