#375 The Single Biggest Individual Financier In The World. The Richest Woman In America: Hetty Green
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Jan 6, 2025
Explore the remarkable life of Hetty Green, a financial pioneer who defied gender norms and became the richest woman in America. Discover her daring spirit, from taming a dangerous horse to expertly navigating market crises. Learn how she built a vast empire of stocks and real estate all on her own. Delve into her influence during financial panics and the ethical principles that shaped her legacy, which continues to inspire today's top investors. Hetty's story is one of independence, intelligence, and resilience.
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Financial Fortress
Keep a fortress of cash and avoid debt.
Buy assets for pennies on the dollar during downturns.
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Exiting Whaling
Hetty Green's father shrewdly exited the whaling industry as it declined.
He moved to New York, capitalizing on new opportunities in merchant shipping and real estate.
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Independent Thinking
Hetty Green's defiant independence and shrewd observation allowed her to learn from market panics.
She observed how investors like Cornelius Vanderbilt profited by buying low during panics.
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This book is a captivating biography of Hetty Green, who at the time of her death in 1916 was worth at least $100 million, equivalent to over $2 billion today. Abandoned by her neurotic mother and scorned by her misogynist father, Hetty set out to prove her value through her financial prowess. She ignored the herd mentality, taking advantage of financial panics and crises by buying railroads, real estate, and government bonds when others were selling, and putting her money into cash when others were buying and borrowing. Her independence, outspokenness, and disdain for the upper crust earned her a reputation for harshness, yet those who knew her admired her warmth, wisdom, and wit. The book sets her life against a backdrop of financial crises similar to those of the present day, highlighting her as a rarely-mentioned queen of American finance.
Hetty
The Genius and Madness of America's First Female Tycoon
Charles Slack
In 'Hetty', Charles Slack provides a nuanced portrait of Hetty Green, known as the 'Witch of Wall Street' and the 'World’s Greatest Miser' according to the Guinness Book of World Records. Green parlayed a comfortable inheritance into a vast fortune, buying and selling real estate and railroads, and amassing cash reserves that rivaled great banks. Despite her frugal and sometimes harsh lifestyle, she lived by her own rules and defied social mores of her time. The book offers a detailed and engaging account of her life and legacy, highlighting her brilliance as a financier and her complex personality.
Hetty Green bailed out New York City. Her decisions on what interest rates to charge moved markets and were reported in major newspapers. She was a one woman bank and the single biggest individual financier in the world. She took no partners and ran her own money. She built a financial empire of stocks, bonds, railroads, and real estate. She battled the great men of her day and kept a gun on her desk. She did all of this alone. Defiantly independent and ferociously intelligent she built a vast, liquid fortune at a time when women couldn't even vote. She used her intelligence to increase her wealth, her independence to live as she wished, and her strength to battle anyone who stood in her way.
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
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“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Founders 
