The Marjorie Merriweather Post Net Worth at the time of her passing in 1973 was a staggering $200 million. Adjusting for inflation, that would be akin to $1.5 billion in today’s economy. Born in March 1887 in Springfield, Illinois, Marjorie was not just an American businesswoman but also a renowned socialite. Her connection to General Foods, Inc. marked her as a pivotal figure in American business history.
Marjorie was the sole heir of Charles William ‘C.W.’ Post, the visionary behind the Postum Cereal Company. Following her father’s death in 1914, she inherited a $20 million fortune, which would be around $500 million today. With this inheritance, Marjorie took the reins of the family business, expanding it into General Foods Corporation through strategic acquisitions. By the time of her death, her estate was valued at $200 million, equivalent to $1.5 billion today. General Foods was later sold to Philip Morris for $5.6 billion in 1985, marking a milestone in non-oil acquisition history, a record later surpassed by the Kraft Foods deal in 1988.
What is Marjorie Merriweather Post net worth?
| Name | Marjorie Merriweather Post |
|---|---|
| Category: | Richest Business › Executives |
| Net Worth: | $1.5 Billion |
| Birthdate: | Mar 15, 1887 – Sep 12, 1973 (86 years old) |
| Birthplace: | Springfield, Illinois, U.S. |
| Profession: | Businesswoman |
Beyond her business ventures, Post was celebrated for her exquisite art and jewelry collections. Her homes, especially the famed Mar-a-Lago in Palm Beach, embodied American luxury. As a philanthropist, she utilized her wealth to support numerous causes, leaving a lasting impact.
Early Life
Born on March 15, 1887, Marjorie Merriweather Post grew up in a household where business was at the forefront. Her father, C.W. Post, founded a successful cereal company in Battle Creek, Michigan. As his only child, Marjorie was meticulously prepared to inherit and manage the family business. Her education included a mix of formal schooling at Mount Vernon Seminary and practical business training, often accompanying her father to meetings and learning about food production and marketing from the ground up.
General Foods
At just 27, following her father’s demise, Marjorie inherited the Postum Cereal Company. She, alongside her second husband, E.F. Hutton, expanded the company by acquiring several other food brands. This led to the establishment of General Foods Corporation in 1929, a giant in the American food industry. Under her leadership, the company adopted innovative food processing and marketing strategies, setting new industry standards.
Richest Woman in the United States
By the 1930s, Marjorie Merriweather Post was recognized as the richest woman in the United States. Her wealth, derived from both inheritance and savvy business acumen, was managed with precision. She diversified her investments, venturing into real estate while maintaining her stronghold in General Foods. Her achievements were particularly remarkable during a time when women rarely occupied such influential positions.
Jewelry & Art Collection
Post’s passion for Russian imperial art was unmatched, with collections including Fabergé eggs and religious artifacts. Her jewelry, featuring iconic pieces like the Napoleon Diamond Necklace, was equally noteworthy. Her discerning eye led her to acquire artifacts with rich historical significance, many of which were later donated to museums, notably the Smithsonian Institution.
Mar-a-Lago
In 1927, Marjorie commissioned the creation of Mar-a-Lago, a 128-room mansion in Palm Beach, Florida, costing $7 million at the time, equivalent to $101 million today. Upon her death, she bequeathed the estate to the U.S. Government for use as a Winter White House, though it was ultimately declined due to upkeep costs. The estate was later acquired by Donald Trump after a series of negotiations and strategic purchases.
Other Real Estate
Marjorie Merriweather Post’s real estate portfolio was as impressive as her business ventures. Her properties included Camp Topridge in the Adirondacks, a sprawling estate requiring substantial staff, and Hillwood Estate in Washington, D.C., which housed her extensive art collection. Her yacht, Sea Cloud, was a testament to her opulent lifestyle, being the largest privately-owned yacht of its time.
Personal Life, Philanthropy, and Death
Marjorie’s personal life saw her married four times, with notable spouses including E.F. Hutton and Joseph E. Davies. Her time in Moscow with Davies allowed her to enrich her Russian art collection significantly. She had three children, including actress Dina Merrill. Her philanthropic efforts were vast, focusing on women’s and children’s welfare. Marjorie passed away at 86 in 1973 at her Hillwood Estate, leaving behind a legacy of wealth, art, and benevolence.
What is Marjorie Merriweather Post’s net worth?
Marjorie Merriweather Post’s net worth was estimated to be over $200 million at the time of her death in 1973. She was a successful businesswoman and heiress, known for her lavish lifestyle and extensive art collection. Her legacy continues through the Marjorie Merriweather Post Foundation, which supports various charitable causes
How did Marjorie Merriweather Post acquire her wealth?
Marjorie Merriweather Post acquired her wealth through a combination of inheritance, strategic investments, and successful business ventures. She inherited the Postum Cereal Company from her father and expanded it into a multi-million dollar corporation. She also invested in real estate and art collections, and served as a board member for various companies. Her savvy business decisions and entrepreneurial spirit contributed to her immense wealth
What was Marjorie Merriweather Post’s most valuable asset?
Marjorie Merriweather Post’s most valuable asset was her extensive collection of art and jewelry, including the famous Hope Diamond. This collection was estimated to be worth over $250 million and showcased her impeccable taste and wealth. It also served as a symbol of her status and influence in high society during the early 20th century
How did Marjorie Merriweather Post’s net worth change over time?
Marjorie Merriweather Post’s net worth increased significantly over time, thanks to her successful business ventures and strategic investments. She inherited a fortune from her father, but also made shrewd decisions in the stock market and real estate. At the time of her death in 1973, her net worth was estimated at $250 million, making her one of the wealthiest women in America
What philanthropic causes did Marjorie Merriweather Post support with her wealth?
Marjorie Merriweather Post supported various philanthropic causes with her wealth, including education, the arts, and healthcare. She donated to organizations such as the National Symphony Orchestra, the American Red Cross, and the National Cathedral School. Her generosity and dedication to giving back left a lasting impact on society
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