Hetty Green: “The Witch of Wall Street”

I’m going to diversify the topics of articles on my blog, and write about the inspiration for the name of my blog. HETTY was named after Henrietta “Hetty” Green, an American investor and secret philanthropist during the late 19th and 20th century. At one time, she was the wealthiest woman in the US.

I did limited research about her, but what I’ll write what I know. She came from a wealthy Quaker family based in Massachusetts, and received an 6 million$ inheritance after the deaths of her father and aunt in 1865. She was educated enough in finance by her father and grandfather to make her own investment decisions in her own modest home or in banks, and invested in mortgages, real estate, government bonds, railroad stocks, and other diverse investments.

In 1867, she married Edward Henry Green, and soon after had 2 children, Edward Green II and Sylvia. It’s notable that her husband was also wealthy, but they kept their finances separate, and there was a pre-nuptial contract before the marriage. Hetty continued to invest and live frugally.

Hetty was a shrewd investor, and she was known to have lived an extremely frugal lifestyle, bordering on miserliness. She ate simple meals (oatmeal is rumored to be part of her regular diet), lived in modest housing with her family, avoided paying for hot water and electricity, and after her husband died, she wore a single simple black mourning dress daily until it had to be replaced with other simple clothing.

She may have been a miserly money hoarder, but she was also a financial genius, succeeding in an industry dominated by men. The media and business rivals of the time spread rumors about her extreme frugality, but she lived a simple life based on her Quaker upbringing. I see the frugal traits of Warren Buffet and the Financial Independence, Retire Early movement in her modest way of life.

She was also misunderstood during her time. She did anonymously donate to charities in her life, and her 2 grown children later donated the majority of their 100 million dollar inheritance to various charities after Hetty Green’s death in 1916.

I chose HETTY as the name as my blog, cuz I believe in Hetty Green’s philosophy of living as frugal as possible, lifelong learning, and low key generosity. I sometimes post articles at times about financial advice, money saving lifehacks, and ways to make and save money.

Hetty Greene died in 1916 at her son’s home. She was able to turn a 6 million dollar inheritance into a fortune of over 100 million dollars. Adjusted for inflation in today’s dollars, that is over 2 billion dollars.

Was Hetty Green truly a Witch, or the Queen of Wall Street?