, was an Americanbusinesswomanandfinancierknown as the richest woman in America during theGilded Age. She was known for her wealth and was named by theas the greatestmiser. She amassed a fortune as a financier when other major financiers were men.stated that It was the fact that Mrs. Green was a woman that made her career the subject of endless curiosity, comment and astonishment.

Henrietta (Hetty) Howland Robinson was born in 1834 inNew Bedford, Massachusetts, the daughter of Edward Mott Robinson and Abby Howland, the richest whaling family in the city. Her family members wereQuakerswho owned a largewhalingfleet and also profited from theChina trade.3She had a younger brother who died as an infant.4

At the age of two, Hetty was sent to live with her grandfather, Gideon Howland, and her Aunt Sylvia. Hetty would read the stock quotations and commerce reports for her grandfather and picked up some of his business methods. At the age of 10, Hetty entered Eliza WingsBoarding SchoolinSandwich, Massachusetts. Hettys father became the head of the Isaac Howlandwhaling firmupon Gideons death, and Hetty began to emulate her fathers business practices. Hetty learned to readledgersandtrade commodities. At the age of 15, Hetty enrolled for two summer sessions at theFriends Academy. Hetty also attendedAnna Cabot LowellFinishing school, and appeared as a New Bedforddebutantein 1854, before moving to New York to live with a cousin of her mothers,Henry Grinnell. Yet, it was not long before Hetty returned to New Bedford, alternating between her fathers house and her aunts house. There, as Janet Wallach states, …by pursuing her fathers interests she not only won his praise, she shared his pleasure in making money.5

Because of Gideons influence and that of her father, and possibly because her mother was constantly ill, she was close to her father and was reading financial papers to him by the age of six. When she was 13, Hetty became the familybookkeeper.4Hetty accompanied her father to thecountinghouses, storerooms, commodities traders, and stockbrokers. In the evening, she read him the news.5:45,53

Her mother, Abby Robinson, died on February 21, 1860, at the age of 51, but her $100,000 estate went to her husband, except for an $8,000 (equivalent to $223,000in 2018) house for Hetty. In June, Hettys father sold off his interest in the whaling fleet and invested inWilliam Tell Colemans shipping firm, becoming a partner. While in New York, he also invested in government bonds, which paid 6% interest in gold. Back in New Bedford, Hettys aunt Sylvia gave Hetty $20,000 (equivalent to $558,000in 2018) in stocks as a gift. While staying with her father in New York, Hetty would meet her future husband, Edward Henry Green.5:54,63-65,69,71-77

Edward Robinson died on June 14, 1865, leaving Hetty approximately $6 million (equivalent to $98,204,000in 2018), which included $919,000 in cash, a warehouse in San Francisco, with the remainder in a trust fund from which she received the income. Yet she had no control over theprincipal.45:80-81

Hettys auntSylvia Ann Howlandalso died in 1865, soon after her father.4In September 1863, Sylvia Howland had willed half of her $2million estate (equivalent to $32,735,000in 2018) to charities and entities in the town of New Bedford; the rest would be in a trust for Hetty, but once again without her control of the principal. By December, Hetty challenged the wills validity in court by producing an earlier will, made in January 1862, that left the entire estate to Hetty, and included a clause invalidating any subsequent wills.5:68,81-88,102The will was challenged in court and the case,Robinson v. Mandell, which is notable as an early example of theforensicuse of mathematics, was ultimately decided against Robinson after the court ruled that the clause invalidating future wills, and Sylvias signature to it, wereforgeries.6After five years of legal battles, Hetty was awarded a settlement of $600,000 (equivalent to $11,888,000in 2018).4

Edward Henry Green ofVermontlearned the business trade in Boston before working in theFar Eastfor the next 20 years. By the age of 44, he was apartnerin theRussell Styrgis & Company, and a millionaire. Yet, Hettys father stipulated in his will that Green would not inherit Hettys money, which was to be free from the debts, control or interference of any such husband.5:77-80

On July 11, 1867, at the age of 33, Hetty married Edward Henry Green, a member of a wealthy Vermont family. She made him renounce all rights to her money before the wedding. The couple moved to his home inManhattan. When her cousins tried to have her indicted for forgery based on theRobinson v. Mandelldecision, the couple moved overseas toLondon, where they lived in theLangham Hotel. Their two children,Edward Howland Robinson Green(called Ned) andHarriet Sylvia Ann Howland Green Wilks(called Sylvia), were born in London: Ned on August 23, 1868, and Sylvia on January 7, 1871.7

They separated in 1885, but remained married, and spent more time together in their later lives.5:152,220,239

Hetty followed acontrarian investingstrategy, in her words, I buy when things are low and nobody wants them. I keep them until they go up and people are crazy to get them. That is, I believe, the secret of all successful business. Hetty invested the interest from her fatherstrust fund, once again investing as her father had done, in Civil War bonds, which paid a high yield in gold, augmented by railroad stocks. Her annual profits during her first year in London, amounted to $1.25 million, while the most she ever earned in a day was $200,000. Hetty went on to say, I believe in getting in at the bottom and out on top. I like to buy railroad stocks or mortgage bonds. When I see a good thing going cheap because nobody wants it, I buy a lot of it and tuck it away. Hettys discountedgreenbacks, bought during the Civil War, were increased in value when Congress passed legislation in 1875 backing them with gold. As Hetty said of her investing philosophy, Before deciding on an investment, I seek out every kind of information about it.5:89,98-99,118,127,247

When the Green family returned to the United States in October 1873, after Edward suffered losses on Wall Street, they settled in Edwards hometown ofBellows Falls, Vermont. Yet, Hetty quarreled with Edwards mother, until her death in 1875. That same year, Hetty covered Edwards losses associated with the London and San Francisco Bank, of which he was one of the directors. Hetty bailed Edward out once again in 1884.5:116,122-129,148

After the 1885 collapse of the financial house John J. Cisco & Son, of which Edward was a partner, it was disclosed Edward had $700,000 in debt. Hetty Greens $500,000 represented one-quarter of the bankss assets. The bank refused to allow Hettys transfer of her $26 million in stocks, bonds, mortgages, and deeds to the Chemical National Bank, until Edwards debt was paid. In the end, Hetty made the transfer and paid off her husbands debt, but never forgave Edward.5:148-151

Hetty set up an office in the Chemical Bank, but continued to live in boarding houses,flats, or hotels. By then she was known as the Queen of Wall Street.5:159-161,165,208

Hettys investing philosophy, in her words, included, In business generally, dont close a bargain until you have reflected on it overnight. She also thought, It is the duty of every woman, I believe, to learn to take care of her own business affairs, and A girl should be brought up as to be able to make her own living… Whether rich or poor, a young woman should know how a bank account works, understand the composition of mortgages and bonds, and know the value of interest and how it accumulates.5:178,232,238,251

Greens thriftiness was legendary. She was said never to turn on the heat or use hot water. She wore one old black dress and undergarments that she changed only after they had been worn out; she did not wash her hands and she rode in an old carriage. She ate mostly pies that cost fifteen cents. One tale claims that Green spent half a night searching her carriage for a lost stamp worth two cents. Another asserts that she instructed her laundress to wash only the dirtiest parts of her dresses (the hems) to save money on soap.8

Yet, from Hettys perspective, Just because I dress plainly and do not spend a fortune on my gowns, they say I am cranky or insane.5:220

Green conducted much of her business at the offices of theSeaboard National Bankin New York, surrounded by trunks and suitcases full of her papers; she did not want to pay rent for her own office. Later unfounded rumors claimed that she ate onlyoatmeal, heated on the office radiator. Possibly because of the stiff competition of the mostly male business environment and partly because of her usually dour dress (due mainly to frugality, but perhaps in part related to her Quaker upbringing), she was given the nickname the Witch of Wall Street.2

She was a successful businesswoman who dealt mainly inreal estateinvestedinrailroadsand mines, and lent money while acquiring numerous mortgages. The City of New York came to Green for loans to keep the city afloat on several occasions, most particularly during thePanic of 1907; she wrote a check for $1.1million and took her payment in short-term revenue bonds. Keenly detail-oriented, she would travel thousands of miles alonein an era when few women would dare travel unescortedto collect a debt of a few hundred dollars.

Green entered thelexiconof turn-of-the-century America with the popular phrase Im not Hetty if I do look green.O. Henryused this phrase in his 1890s storyThe Skylight Roomwhen a young woman, negotiating the rent on a room in a rooming house owned by an imperious old lady, wishes to make it clear she is neither as rich as she appears nor as naive.3

Her frugality extended to family life. When her son Ned broke his leg as a child, Hetty tried to have him admitted to a free clinic for the poor.3Mythic accounts have her storming away after being recognized; her biographer Slack says that she paid her bill and took her son to other doctors. His leg did not heal properly and, after years of treatment, it had to be amputated.3

In Hettys words, I dont think society means what some rich people would have us believe, I should get very tired of living in one of the great houses in New York, going out all night and sleeping all day. They dont have any real pleasure. Its intercourse with people that I like. Yet she was also a secretphilanthropist, avoiding the attention of thePress. In her words, I believe in discreet charity. Hetty also had the reputation of being an effective nurse, caring for her young and old neighbors. Her favorite poem wasWilliam Henry Channings My Symphony, which starts with To live content with small means…5:184,219,224-226

As a young man, Ned moved away from his mother to manage the familys properties inChicagoand, later, Texas. In middle age, he returned to New York; his mother lived her final months with him.3

Greens daughter Sylvia lived with her mother until her thirties. Hetty Green disapproved of all of her daughters suitors, suspecting that they were after her fortune. Sylvia finally marriedMatthew Astor Wilkson February 23, 1909, after a two-year courtship. A minor heir to theAstorfortune, Wilks entered the marriage with $2 million of his own, enough to assure Green that he was not a gold digger. Nonetheless, she compelled him to sign aprenuptial agreementwaiving his right to inherit Sylvias fortune.3

When her grown children left home, Green moved repeatedly among small apartments inBrooklyn Heightsand after 1898, inHoboken, New Jersey,2mainly to avoid New Yorks property tax, though she did loan money to the city at reasonable rates. Hetty then regularlycommutedto her office in the Chemical Bank on Broadway. By 1905, Hetty was New Yorks largest lender.5:230-231,256

In her old age, she developed ahernia, but refused to have an operation, preferring to use a stick to press down the swelling. She eventually moved her office to theNational Park Bank, when she thought she had been poisoned at the Chemical Bank, a fear she had most of her life.5:276,282-283

On July 3, 1916, Hetty Green died at age 81 at her sons New York City home.9According to her longstanding Worlds Greatest Miser entry in theGuinness Book of World Records, she died ofapoplexyafter arguing with a maid over the virtues of skimmed milk.The New York Timesreported she suffered a series of strokes leading up to her death.9

Upon her death, Hetty was known as the Wizard of Finance and the Richest Woman in America.5:290

Estimates of her net worth ranged from $100 million to $200million (equivalent to $2.3billion to $4.6billion in 2019), making her arguably the richest woman in the world at the time.3

She was buried in Bellows Falls, Vermont, next to her husband. She had converted late in life to his Episcopalian faith so that she could be interred with him.5:286-287

Their two children split her estate, which included a ten-year trust for Sylvia administered by Ed.5:283They were reported to have enjoyed their wealth more than she had. Both notably came through theGreat Depressionrelatively unscathed by following Hettys philosophy of conservative buying backed by substantial cash reserves. Ned was an accomplished collector with interests in everything from auto racing to science to horticulture. After his death, his sister Sylvia, as heir, donated hisRound Hill, Massachusettsestate in 1948 to theMassachusetts Institute of Technology(MIT), which used the property for experimentation. These included a prototypeatom smasher. They used his powerfulWMAFradio transmitters to keep in touch withRichard E. Byrds 1928-1930 Antarctic expedition.

Sylvia died in 1951, leaving an estimated $200million and donating all but $1,388,000 to 64 colleges, churches, hospitals, and other charities.3Both children were buried near their parents in Bellows Falls.10

The She-Wolf(1931) was the story of a miserly millionaire businesswoman based on the real-life miser Hetty Green. She was played by Australian-born actressMay Robson.

Hetty Green was that rarity, a woman who largely through her own efforts amassed a ton of money during the Gilded Age, a time when virtually everyone else getting richRockefeller, Morgan, Carnegiewas a man. By nearly all accounts she was also a thoroughly unpleasant individual, greedy, petty and often downright nasty

Hetty: The Genius and Madness of Americas First Female Tycoon

American Women Managers and Administrators: A Selective Biographical Dictionary of Twentieth-century Leaders in Business, Education, and Government

. Greenwood Publishing Group. p.93.ISBN

The Richest Woman in America: Hetty Green in the Gilded Age

. New York: Anchor Books. pp.921, 37, 45.ISBN

20 F. Cas. 1027 (C.C.D. Mass. 1868) (No. 11,959)

Mrs. Hetty Wilks Dead At Age Of 80; Daughter Of Hetty Green, Noted For Financial Manipulations, Wed Descendant Of Astor Accustomed To Economy Active Until Last Year William A. Haegele George T. Cottrell Mrs. Max Besas.

Mrs. H. Sylvia Ann Howland Green Wilks of 988 Fifth Avenue, widow of Matthew Astor Wilks, and daughter of Hetty Green, the famous woman financier, died yesterday in the New York Hospital at the age of 80.

Wait Wait Dont Tell Me, NPR radio program, episode of April 3, 2010

Hetty Green Dies, Worth $100,000,000; Passes Away At Sons Home After Several Paralytic Strokes, Aged 82. Hoped To Live To Be 85 Invested Heavily In Bonds And Mortgages In Recent Years. Stock Market Not Affected. Hetty Green Dies Worth $100,000,000.

Mrs. Hetty Green, generally believed to be the worlds richest woman, died yesterday in her eighty-second year after an illness of several months. The woman whose great business acumen had built up a fortune estimated at $100,000,000 and had made her name known in the market places of the world faced death as she had life, militantly and unafraid.

Petticoats and Pinstripes: Portraits of Women in Wall Streets History

. New York: Harcourt Brace. (1963); Buccaneer Books, Cutchogue, NY (1990)

Math on trial. How numbers get used and abused in the courtroom

ISBN978-0-465-03292-1. (Ninth chapter: Math error number 9: choosing a wrong model. The case of Hetty Green: a battle of wills).

Hetty: The Genius and Madness of Americas First Female Tycoon

The Richest Woman in America: Hetty Green in the Gilded Age

. Knopf Doubleday Publishing Group.ISBN

A more generous profile: Shrewdness and Gumption

Wikipedia articles with WorldCat-VIAF identifiers

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