Sir David Yule, 1st Baronet facts for kids

Sir David Yule, 1st Baronet (born August 4, 1858 – died July 3, 1928) was a very successful Scottish businessman. He worked mostly in British India, which was a big part of the British Empire back then. People said he was one of the richest and most important business leaders in India.

David's Early Life

David Yule was born in Edinburgh, Scotland. His father, also named David, was a writer and worked at an office called the Sasine Office. David went to school in Britain. After school, he joined his family's business. This business was all about trading with India. At that time, India was often called the "jewel in the crown" of the British Empire. This meant it was a very valuable and important place for Britain.

Building a Business Empire

Starting His Business Journey

David joined a large company called Andrew Yule and Company. This company was started by his uncles, Andrew Yule and George Yule. It was a big group of businesses that did many different things. Their main work was selling jute fiber. Jute is a natural plant fiber used to make things like ropes and bags. Over time, the company grew. They started doing everything from growing the plants to making textiles.

Taking Control

David's uncle George passed away in 1892. He did not have any children. David's other uncle, Andrew, had a daughter named Annie Henrietta. David married Annie in 1900. When Andrew passed away in 1902, David took over the entire Yule business group.

Other Business Ventures

In 1919, David Yule and Thomas Catto, 1st Baron Catto started a new company. It was called Yule Catto and Company Ltd. Today, this company is known as Synthomer. It is listed on the London Stock Exchange. David also worked for other big companies. He was a director at Midland Bank and Mercantile Bank of India. He also worked for Vickers Limited and the Royal Exchange Assurance Company. He even owned a newspaper called the Daily Chronicle. He bought it from a famous politician named Lloyd George.

Honors and Legacy

King George V made David Yule a knight in India on January 4, 1912. Later, on January 30, 1922, he was given the special title of baronet. This title was linked to the Hugli River in Calcutta. Sir David Yule passed away on July 3, 1928. He did not have a son to inherit his baronetcy, so the title ended when he died. The New York Times newspaper reported that his daughter inherited a huge amount of money. It was about $100 million, which would be like $1.6 billion today!

David's Family Life

David and Annie Yule had one child, a daughter named Gladys Yule (1903–1957). In 1925, David's wife and daughter bought a large house. It was called Hanstead House in Bricket Wood, Hertfordshire. They turned it into a very successful farm. They bred Arabian horses there. This farm was known as the Hanstead Stud. Annie Yule also ordered one of the biggest private yachts ever built in the UK. It was called Nahlin. It was 300 feet long and cost a lot of money, about £250,000. Some of the Yule family's descendants still live in England today.