William Payne Whitney facts for kids
Quick facts for kids
William Payne Whitney
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William Payne Whitney, c. 1899
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William Payne Whitney
March 20, 1876 New York City, New York, U.S.
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| Died | May 25, 1927 (aged 51) Manhasset, New York, U.S.
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| Alma mater | Yale University Harvard Law School |
| Occupation | Investor, racehorse owner/breeder, philanthropist |
| Spouse(s) | |
| Children | Joan Whitney John Hay Whitney |
| Parent(s) | William Collins Whitney Flora Payne |
| Relatives | See Whitney family |
William Payne Whitney (born March 20, 1876 – died May 25, 1927) was a very successful American businessman. He was part of the well-known Whitney family. Payne Whitney inherited a large amount of money. He then made even more money through smart business deals. He used much of his wealth to help others. This is called philanthropy. He gave money to many different causes. For example, his will included funds to expand the New York Hospital. This hospital is now known as NewYork-Presbyterian Hospital. A special mental health clinic, the Payne Whitney Psychiatric Clinic, was also started there because of his gifts.
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Early Life and Education
William Payne Whitney was born in New York City on March 20, 1876. His parents were William Collins Whitney and Flora Payne. He had three siblings: an older brother named Harry Payne Whitney, an older sister named Pauline Payne Whitney, and a younger sister named Dorothy Payne Whitney.
After his mother passed away, his father remarried. William Payne Whitney did not seem to like this. From then on, he mostly used his middle name, Payne. Many of the places he helped build or fund are named "Payne Whitney" because of this choice.
Payne Whitney went to the Groton School when he was younger. Later, he attended Yale College. At Yale, he was part of two special groups, Skull and Bones and Delta Kappa Epsilon. He was also the captain of the Yale rowing team. After finishing Yale in 1898, he studied law. He went to Harvard Law School and earned his law degree in 1901.
A Successful Career
Payne Whitney received a lot of money from his father. He also inherited a huge amount, $63 million, from his uncle, Colonel Oliver Hazard Payne. This was a massive fortune back then.
He invested his money in many different businesses. He owned parts of banks, tobacco companies, railroads, mining operations, and oil companies. He also served on the boards of directors for several large companies. This meant he helped make important decisions for businesses like Citibank and the Great Northern Paper Company.
Love for Horses
Like his father and brother, Payne Whitney loved horse racing. He owned a very important horse racing and breeding business called Greentree Stable. This stable was named after his large estate on Long Island. Greentree Stable was famous for its thoroughbred horses, which are special horses bred for racing.
Helping Others: Philanthropy
Throughout his life, Payne Whitney was very active in philanthropy. He gave money to many different causes. He was a trustee for the New York Public Library. In 1923, he gave the library $12 million. This was a huge gift that helped the library a lot.
He also supported his old school, Yale University. He gave money to the Yale rowing team. He even paid for a new building where the rowing team members could live.
After he died, his will left more than $20 million to start the Payne Whitney Psychiatric Clinic. This clinic helps people with mental health issues. It was built at Cornell University's medical school, which is now called Weill Cornell Medicine, and New York Hospital, now New York–Presbyterian Hospital.
He also gave smaller amounts of money to other schools and hospitals. Just before he passed away, he gave $1 million to Yale University's main fund. More money from his estate helped Yale build the large, 9½-story Payne Whitney Gymnasium. This gym was finished in 1932. To honor him, a road in Manhasset, New York, was named Payne Whitney Lane.
Family Life
In 1902, Payne Whitney married Helen Julia Hay (1875–1944). Helen was the daughter of John Hay, who was the United States Secretary of State at the time. As a wedding gift, Payne Whitney's uncle, Oliver Hazard Payne, gave them a beautiful mansion. This home, called Payne Whitney House, was located at 972 Fifth Avenue in New York City. The famous architect Stanford White designed it.
The couple also had a large estate called Greentree in Manhasset, New York. Payne and Helen had two children:
- Joan Whitney Payson (1903–1975): She became famous as the first owner of the New York Mets baseball team.
- John Hay Whitney (1904–1982): He later served as the United States Ambassador to the United Kingdom.
On September 20, 1911, Payne Whitney was on a ship called the RMS Olympic. This ship was the sister ship of the famous RMS Titanic. The Olympic was hit by a warship called HMS Hawke. Luckily, Payne Whitney was safe.
Payne Whitney passed away in 1927 at his Greentree estate.
