Tuesday, January 17, 2017

I never knew that

I learned something new today

   As part of the liberal elite, I often listen to that evil public radio.  You know, the people totally opposite the F news crew.
    Anyway, they were interviewing an author who wrote a book about women who made New York and they mentioned Hetty Green.
    I had never heard of her.
    She was an investor.  She invested in banks, mortgages, railroads, during a time when men ruled the financial world.  And she made money.  Always.
    She was called the Witch of Wall Street and I suspect a movie will be made about her in the next year or three.
    After all, when the panic of 1907 hit and banks ran dry, Hetty was there to loan money to the city, the banks, the railroads.....and when times improved, she called the loans and made money.
    She lived frugally.  One black dress, which a maid would wash when it got dirty but only the dirty part.  Hetty infrequently bathed, which meant she smelled.  Her fingernails were long and dirty.
    She was a miser.
    When her son hurt his leg, Hetty took him to a charity hospital but was recognized and told she would be charged.  So she took the boy home.  His leg would eventually be amputated, which was traced back to never having it fixed properly.
    She lived in tenement apartments and moved frequently so tax agents could not find her.
    She refused to use hot water or electricity.
    When JP Morgan died, he had a fortune of about $80 million.  He was revered in the financial world, and history books, as a genius.  Hetty died  in 1916, three years after JP.  Her fortune was over $200, million, which is about $17 billion in today's funds.
    She was the world's richest woman.  I don't recall reading anything about her, or even hearing about her, until today.
    She had two children, and when her son died his half of the estate went to his sister, Sylvia.  (Ned turned out to be a bit of a rake!  He lived with a prostitute, eventually marrying her after his mom died.  He built lavish estates and spent money quite freely.)  When Sylvia died in 1951, it was the end of the line for Hetty Green's family.
    Sylvia willed her $90 million to universities and colleges.
    I bet old Hetty turned over in her grave.




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