Hetty Green: The Most Stingy Woman in History

 

Hetty Green, born Henrietta Howland Robinson in 1834, has earned her place in history as one of the wealthiest yet most frugal individuals of all time. Her life story is a fascinating blend of financial acumen and extreme thriftiness, making her a legend in the annals of American finance and folklore. With a wealth estimated at more than $2.3 billion in today's money, Hetty Green was not just rich—she was incredibly rich. Yet, her miserly ways earned her the nickname "The Witch of Wall Street."

 Early Life and Inheritance

Hetty Green was born into a wealthy Quaker family in New Bedford, Massachusetts. Her father, Edward Mott Robinson, was a successful whaling magnate and businessman. Hetty was an only child, and from a young age, she demonstrated a keen interest in finance and business. By the time she was twenty-one, she had already become adept at managing money, having read the financial newspapers to her father and discussed investments with him.

When her father passed away, Hetty inherited a fortune estimated at $7.5 million—a staggering sum for the time. This substantial inheritance provided her with the financial foundation she would build upon for the rest of her life. Determined to make her mark, Hetty moved to New York City, the epicenter of American finance, to invest her money in Wall Street.

 The Wicked Witch of Wall Street

Hetty Green's shrewdness in financial matters was matched only by her frugality. She was an astute investor, often making counterintuitive decisions that paid off handsomely. She invested in railroads, mines, real estate, and government bonds, and her wealth grew exponentially. Despite her financial success, her stinginess became legendary.

One of the most bizarre aspects of Hetty Green's life was her insistence on living as cheaply as possible. Even though she married Edward Henry Green, a millionaire in his own right, she continued to practice extreme penny-pinching habits. She famously lived on leftover cakes and broken biscuits from grocery stores and would argue to get a free bone for her dog every day. This obsessive frugality extended to all aspects of her life.

 Extreme Frugality and Personal Misery

Hetty Green's personal habits were as notorious as her financial prowess. She was known to wear the same black dress until it was completely worn out and reportedly never spent money on hot water. Her diet was astonishingly cheap, consisting of pies that cost only two cents each. This extreme thriftiness led to a life that, by most standards, would be considered miserable.

One of the most enduring stories about Hetty Green's stinginess is that she sewed underpants when she was sixteen years old and did not change them or buy new ones until the day she died. Such extreme measures highlight her commitment to saving every possible penny, even at the expense of basic comforts and hygiene.

 Legacy and Impact

Despite her miserly ways, Hetty Green's impact on the world of finance was significant. She was a pioneer for women in a male-dominated industry, demonstrating that women could be just as capable and successful in managing wealth. Her story is a testament to the power of financial acumen and the importance of prudent investment.

However, her extreme frugality also serves as a cautionary tale. While Hetty Green amassed a vast fortune, her personal life was marked by eccentricity and a lack of basic comforts. Her legacy is a complex one, reflecting both the heights of financial success and the depths of personal austerity.

 Conclusion

Hetty Green remains one of the most intriguing figures in American financial history. Her ability to amass and grow her fortune was unparalleled, yet her unwillingness to spend even a small portion of it on herself led to a life of self-imposed austerity. Known as "The Witch of Wall Street," she is remembered not only for her wealth but also for her extreme stinginess.

In today's world, where financial success is often equated with lavish lifestyles, Hetty Green's story is a stark reminder that wealth does not necessarily bring comfort or happiness. Her life serves as an example of the incredible power of financial discipline, but also the potential pitfalls of taking frugality to extremes.