{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Moneywise","title":"The Biltmore: The Vanderbilt Fortune & America's Largest Mansion","html":"","width":"100%","height":180,"duration":1032,"description":"We’re still surprised people did this but... 50+ founders worth $10M to $4B reveal their personal finances. Here it is: https://joinhampton.com/mw-wr\nWhy do we do this? Because if you’re an aspirational person or someone who runs a business and is making money, it’s incredibly challenging to figure out what to do. Information is impossible to find — and that’s what we put together: the net worth reveal and why we do this podcast, Moneywise.\nThe youngest Vanderbilt got the smallest inheritance, built the biggest house in America, and died with $11,000 in stocks.\nGeorge Vanderbilt was the youngest of eight kids in the richest family in America. His brothers inherited about $65 million each. He got $10 million, then spent somewhere between a third and half of it building the Biltmore: 250 rooms, 125,000 acres, 80 servants, electricity before almost anyone had it, and a forestry program that outspent the U.S. Department of Agriculture. He outspent his income every year, dipped into principal to cover it, and when he died at 51 his personal estate came to about $900,000. His widow sold 86,000 acres to the government for $5 an acre to keep the house standing.\nThis episode is the full financial autopsy of the Biltmore. What it cost to build (and why inflation math gets it wrong), what it cost to run, how the family sold off piece after piece just to hold onto the house, and how a grandson who quit banking turned a money pit into a business that now pulls in 1.4 million visitors a year. Along the way, Moneywise guests like Hank and Neil Patel show up with their own versions of the Biltmore problem. It ends with three numbers to run before you buy any house.\nAlso, this podcast is made by Hampton, which is a community for founders doing on average $20 million a year in revenue. We saw a lot of these money conversations happening privately behind closed doors and we thought, “What the heck, let’s make it public.” If you are a founder, apply here: http://joinhampton.com/mw...","thumbnail_url":"https://img.transistorcdn.com/vCvB-0dtzg339Iof9Uhri-E5Cu1YvE_goNcKch75CeI/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS83ZTZj/OWRiMTI3NjI1YWUy/MWY4ZWJkOTU2YzFl/NzE0Mi5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}