Oliver Hazard Payne facts for kids
Oliver Hazard Payne (July 21, 1839 – June 27, 1917) was a very successful American businessman. He helped create large companies like the American Tobacco Company and U.S. Steel. He also worked closely with Standard Oil, a major oil company. Oliver Hazard Payne was known for being one of the richest Americans of his time, leaving behind a huge fortune.
Quick facts for kids
Oliver Hazard Payne
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| Born | July 21, 1839 Cleveland, Ohio, U.S.
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| Died | June 27, 1917 (aged 77) New York City, New York, U.S.
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| Resting place | Lake View Cemetery |
| Education | Phillips Academy |
| Alma mater | Yale University |
| Occupation | Businessman |
| Parent(s) | Henry B. Payne Mary Perry |
| Relatives | William Payne Whitney (nephew) Harry Payne Whitney (nephew) Frances Payne Bolton (niece) |
Contents
Early Life and Education
Oliver Hazard Payne was born on July 21, 1839, in Cleveland, Ohio. His father, Henry B. Payne, was a businessman who also served in the U.S. government as a Representative and a Senator. His mother was Mary Perry Payne. Oliver was named after Oliver Hazard Perry, a famous naval officer and a relative of his mother.
Oliver Hazard Payne had several well-known relatives. He was the uncle of William Payne Whitney and Harry Payne Whitney, who were also important figures. His niece, Frances Payne Bolton, later became a Congresswoman.
For his education, Oliver attended the Phillips Academy in Andover, Massachusetts, and graduated in 1859. After that, he went to Yale University. While at Yale, he was a member of a student group called Delta Kappa Epsilon.
Military Service and Business Beginnings
When the American Civil War started in 1861, Oliver Hazard Payne joined the Union Army. He quickly rose through the ranks. By 1863, he was a colonel leading the 124th Ohio Infantry regiment. He was later recognized for his service and given the honorary rank of Brigadier General in 1865.
After the war ended, Payne started his business career. He first invested in companies that made iron. Then, he moved into the oil refining business. His oil companies were among the first to be bought by Standard Oil, a very large and powerful oil company. After this, he became a trustee at Standard Oil, meaning he helped manage the company.
A Passion for Yachting
Beyond his business ventures, Oliver Hazard Payne was also very interested in yachting. He loved sailing and owned several impressive boats. In 1898, he had a steam yacht built called the Aphrodite.
The Aphrodite was considered one of the most beautiful and advanced yachts of its time. Payne used it to travel all over the world. He also took the yacht to Europe every summer from 1908 until 1914. After that, due to the start of World War I, he mostly sailed in American waters.
Later Life and Legacy
Oliver Hazard Payne never married and did not have any children. He passed away at his home in New York City on June 27, 1917. He was buried in Lake View Cemetery in Cleveland, Ohio. His estate, which is everything he owned, was worth more than $32,000,000, which was an enormous amount of money back then.
His large estate in Esopus, New York, known as the Col. Oliver Hazard Payne Estate, is now a historic site. It was added to the National Register of Historic Places in 2002. Today, this estate is home to Marist College's Raymond A. Rich Institute for Leadership Development.
Images for kids
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Payne in Union Army uniform.
