Good Bad Billionaire

Hetty Green: The 'witch' of Wall Street

Aug 4, 2025
Explore the intriguing life of Hetty Green, America’s richest woman, known as the 'Witch of Wall Street.' Delve into her extreme frugality and remarkable investment strategies during a time when women had little financial power. Uncover her battles with family trusts and a notorious will forgery trial that put her reputation on the line. Learn how she navigated the male-dominated finance world, made her fortune through value investing, and faced personal challenges with a complex relationship with wealth. Hetty's story is a captivating blend of ambition and adversity.
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ANECDOTE

Hetty's Frugal Commute

  • Hetty Green once traveled on a crowded omnibus to deposit $200,000 in bonds herself, claiming she couldn't afford a carriage.
  • This act exemplifies her extreme frugality despite immense wealth.
INSIGHT

Pioneer of Value Investing

  • Hetty Green pioneered value investing by buying undervalued government bonds post-Civil War.
  • She bought low and held assets until prices rose, long before it became an academic theory.
ANECDOTE

Ned’s Injury and Miserly Care

  • Hetty treated her son Ned's knee injury with homemade remedies and delayed proper medical care to avoid doctor fees.
  • Ned later lost his leg, showing her extreme thrift had severe consequences.
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