In the late 19th and early 20th centuries, one woman defied expectations and became one of the wealthiest individuals in the United States. Her name was Hetty Green, but history remembers her by a different title—the Witch of Wall Street. Known for her sharp financial mind, frugality, and ability to turn risky investments into massive gains, she left a lasting impact on Wall Street.
A Wealthy Start in Life
Born in 1834 in New Bedford, Massachusetts, Hetty Green was raised in a wealthy Quaker family. Her father, Edward Robinson, made his fortune in the whaling industry, and from a young age, Hetty was immersed in finance. She read stock market news to her grandfather and learned bookkeeping as a teenager. While most women of her era were expected to marry well, Hetty was busy learning how to manage money.
At just 13 years old, she became the bookkeeper for her father’s whaling business, gaining real-world experience in finance. By the time she was an adult, she was ready to take on Wall Street.
A Fortune Built on Smart Investments
Hetty Green didn’t just inherit wealth—she grew it through strategic investments. Unlike others who only invested in stable businesses, she bought when prices were low and assets were undervalued. This strategy made her one of the wealthiest women of her time.
During the Panic of 1907, when many banks faced collapse, Hetty had enough cash to bail them out. Even J.P. Morgan, one of the most powerful bankers in history, needed her financial backing to stay afloat. Her ability to predict market trends and keep her investments liquid gave her incredible power in the financial world.
The Witch of Wall Street
Despite her success, Hetty Green gained a reputation for being incredibly frugal. She wore the same black dress until it fell apart, refused to heat her home, and even avoided medical bills—a decision that nearly cost her son his leg. These eccentric habits and her dominance in a male-dominated industry led the press to call her the Witch of Wall Street.
However, much of this reputation may have been exaggerated. Being a powerful woman in finance at a time when men controlled the industry meant she was an easy target for criticism. While some claimed she was ruthless, she was also known for giving generously to charities and churches.
A Legacy of Wealth and Influence
When Hetty Green died in 1916, her net worth was estimated at $200 million—equivalent to over $5 billion today. She funded businesses, saved banks, and outlasted many male competitors. Though her children quickly lost much of her fortune, Hetty’s legacy remains.
The woman once mocked as the Witch of Wall Street was, in reality, a financial genius who reshaped investing. She proved that with the proper knowledge and patience, anyone—regardless of gender—could dominate the markets.
Things I Learned Last Night is an educational comedy podcast where best friends Jaron Myers and Tim Stone talk about random topics and have fun all along the way. If you like learning and laughing a lot while you do, you’ll love TILLN. Watch or listen to this episode right now!
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