In 1901, Gilded Age coal magnate Edward Julius Berwind and his wife, Sarah Herminie Berwind, spent $1.4 million, or around $28 million today, to build a summer home in Newport, Rhode Island.
21.08.2024 - 19:24 / insider.com
During the Gilded Age, Rosecliff in Newport, Rhode Island, was the summer home of Theresa "Tessie" Fair Oelrichs, a silver heiress.
Oelrichs' father, James Fair, was a Nevada senator who helped discover the Comstock Lode, the largest lode of silver ore in the US. His $40 million fortune earned him the nickname "Bonanza King," and Oelrichs became known as the "Bonanza Heiress."
When she married Hermann Oelrichs in 1890, Fair gave the couple $1 million as a wedding gift. They commissioned an architect named Stanford White in 1899 to build a summer cottage, and Rosecliff was completed in 1902.
During her summers at Rosecliff, Oelrichs hosted guests for a fairytale-themed dinner and booked magician Harry Houdini for one of her famous parties.
Rosecliff is one of several Gilded Age mansions in Newport that have been preserved and turned into museums, and it still functions as an event space in addition to a historical site. Take a look inside.
In 1901, Gilded Age coal magnate Edward Julius Berwind and his wife, Sarah Herminie Berwind, spent $1.4 million, or around $28 million today, to build a summer home in Newport, Rhode Island.
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