From Carnegie to Vanderbilt: 10 ‘Old Money’ Families in America
The phrase “old money” refers to families who have maintained wealth over generations — often for over a century. These families, which have built massive fortunes in industries like steel, oil, railroads, and finance, have continued their influence through ventures in philanthropy, politics, and business. Unlike the nouveau riche (new money), whose wealth is more recently acquired, these “old money” dynasties have established legacies that stretch back to America’s Gilded Age.
From the Carnegie family to the Vanderbilts and Kennedys, here are 10 prominent American families whose fortunes have withstood the test of time, shaping not just their industries but the very fabric of U.S. society.
1. The Carnegie Family
Andrew Carnegie, the Scottish-American industrialist, amassed his vast fortune in the steel industry. In 1892, he founded Carnegie Steel, which became the largest and most profitable industrial company of its time. At his peak, Carnegie’s wealth was estimated to be anywhere from $372 million to $300 billion (yowza!).
While the Carnegie family is not as publicly active in business today, their legacy endures through philanthropy, education, and various charity initiatives.
2. The Vanderbilt Family
The Vanderbilt family’s wealth, which peaked at a staggering $185 billion (adjusted for inflation), was built by Cornelius “Commodore” Vanderbilt through shipping and railroads in the 19th century. Cornelius was a business tycoon who dominated the American transportation industry. In 1810, he borrowed $100 from his mother to start his business. Today, the family’s most famous descendant, Anderson Cooper (pictured with mom Gloria Vanderbilt), is a respected journalist and TV host.
Though much of the family fortune has diminished, the Vanderbilt name remains synonymous with New York’s social elite.
3. The Rockefeller Family
Widely regarded as one of the wealthiest Americans in history, John D. Rockefeller had a fortune of $1.4 billion (adjusted for inflation) from his oil empire, Standard Oil. His descendants, including David Rockefeller Jr., continue to be involved in the business ventures he spearheaded. Today, the Rockefellers are known for their robust contributions to conservation, education, and medical research, with institutions like Rockefeller University and the Rockefeller Foundation leading the charge.
4. The Kennedy Family
The Kennedy family, or should we say American royalty, accumulated massive wealth through ventures in real estate, investments, and politics. The family has an estimated net worth of $1.2 billion, with patriarch Joseph P. Kennedy laying the foundation for a political dynasty. Today, Caroline Kennedy, former U.S. Ambassador to Japan, and Maria Shriver, a journalist and advocate, are among the most well-known Kennedys that continue to be active in political and social circles.
The family’s legacy is deeply intertwined with American politics, producing a president, multiple senators, and enduring public fascination. It’s also known for the “Kennedy curse” — a series of tragic events that have plagued the family for generations.
5. The Du Pont Family
With the founding of DuPont, one of the most powerful corporations in U.S. history, the Du Pont family grew a massive fortune in chemicals and munitions. The Du Ponts were instrumental in major innovations, including the development of nylon and Teflon, and have a net worth of around $18 billion today. Descendants like Eleuthère “Thère” du Pont remain active in business and philanthropy. The Delaware-based family also continues to support causes in science, art, and education.
6. The Ford Family
In 1908, Henry Ford revolutionized the automobile industry with the invention of the Model T and the assembly line, which made cars more accessible and affordable to the masses. Thanks to its success in the auto industry, the Ford family’s estimated net worth is around $2 billion today. The family also remains heavily involved in the Ford Motor Company, with William Clay Ford Jr., Henry Ford’s great-grandson, serving as executive chairman.
Beyond business, the Ford Foundation continues to be one of the largest philanthropic organizations in the world, supporting global initiatives in economic development, education, and social justice.
7. The Astor Family
John Jacob Astor IV became America’s first multi-millionaire through fur trading and real estate, with the family fortune peaking at $121 billion (adjusted for inflation). Thanks to John Jacob’s business success, the Astors became a symbol of wealth and luxury — particularly in Manhattan, where they owned lavish properties. Though their fortune has since dwindled, the Astor name is still associated with New York high society and the hotel industry, thanks to landmarks like the Waldorf Astoria Hotel.
Though John Jacob was the richest man aboard the Titanic in 1912, his vast fortune could not save him from the tragic fate of that ill-fated voyage. A gold pocket watch he was wearing at the time was later recovered and sold at auction for $1.46 million.
8. The Hearst Family
Known for its media empire, the Hearst family has a current estimated net worth of $22.4 billion. Beginning with William Randolph Hearst, who created one of the largest newspaper chains in U.S. history, the family’s influence continues in media and publishing. Today, modern family members like Amanda Hearst, a socialite and model, keep the Hearst name in the public eye. The Hearst Corporation remains a powerful media conglomerate, owning magazines like Cosmopolitan and Esquire.
9. The Mellon Family
The Mellon family’s fortune, estimated at $14.1 billion, was built by Andrew Mellon (seated, center) through banking and finance. Mellon Bank was one of the largest financial institutions in the country, and the family also invested heavily in aluminum and steel. Richard Mellon Scaife, a conservative philanthropist, carried the family’s legacy into the 21st century before his death in 2014. Today, the Mellon family remains influential, particularly in art, education, and scientific research.
10. The Morgan Family
As one of the most powerful financiers and corporate leaders in history, John Piermont (J.P.) Morgan amassed a fortune of $80 million, equivalent to $41 billion (adjusted for inflation) at the time of his death in 1913. Morgan was instrumental in forming U.S. Steel, General Electric, and stabilizing the American financial market during times of crisis. Today, the Morgan family has largely stayed out of the public eye, though they remain active in finance, infrastructure, and philanthropy.
The family’s contributions to the art world, particularly through the Metropolitan Museum of Art, can still be felt today.