Introduction
Marjorie Merriweather Post, known for her extravagant lifestyle and philanthropy, was one of the richest women in the world during the early 1900s. Born into a wealthy family, she inherited a fortune from her father, C.W. Post, the founder of Post Cereals. Throughout her life, Post amassed a vast collection of art, jewelry, and silverware and built several magnificent mansions. After her death, she left a lasting legacy, with one of her homes becoming a museum and her philanthropic contributions still benefiting society. In this blog post, we will explore Marjorie Merriweather Post’s net worth and legacy.
Marjorie Merriweather Post’s Early Life and Inheritance
Marjorie Merriweather Post was born in Springfield, Illinois, in 1887, to C.W. Post and Ella Letitia Merriweather. As a child, she lived a privileged life, and her father’s fortune ensured that she had access to the best education and experiences. When Post’s father died in 1914, she inherited $20 million, which is equivalent to approximately $495 million in today’s dollars.
Post’s Business Ventures
Marjorie Merriweather Post was not content with just being a rich socialite. She was a savvy businesswoman who used her inheritance to invest in several companies. She owned a majority stake in General Foods Corporation and eventually became the company’s first female director in 1935. At the time, General Foods was the largest food company in the world.
The Growth of Post’s Wealth
Marjorie Merriweather Post’s net worth continued to grow throughout her life. She made savvy business investments and was a shrewd collector of art and jewelry. Her vast collection of Russian art and Faberge eggs alone is worth millions of dollars today.
The Mar-A-Lago Estate
One of Marjorie Merriweather Post’s most famous homes is the Mar-A-Lago estate in Palm Beach, Florida. Post purchased the land in 1924 and later commissioned architect Marion Sims Wyeth to design the mansion. The property features a 110,000-gallon swimming pool, a ballroom, and 58 bedrooms. Post used the estate as her winter home and entertained numerous historical figures and celebrities on its grounds.
The Hillwood Estate
In addition to the Mar-A-Lago estate, Marjorie Merriweather Post also owned the Hillwood Estate in Washington D.C. After Post’s death, she left the estate to the public, and it now serves as a museum that showcases her extensive art and jewelry collections.
Post’s Philanthropic Efforts
Marjorie Merriweather Post was a philanthropist who gave generously to various organizations. She donated to medical research, education, and the arts. As a passionate patron of the arts, Post left her art collection to the National Gallery of Art in her will.
Marjorie Merriweather Post’s Net Worth Today
When Marjorie Merriweather Post died in 1973, her net worth was estimated to be around $200 million, which is equivalent to approximately $1.3 billion in today’s dollars. However, with the value of her vast collection of art and jewelry, her fortune is likely much higher.
Legacy of Marjorie Merriweather Post
Marjorie Merriweather Post’s legacy lives on to this day. Her homes, art, and jewelry collections have been preserved for future generations to enjoy, and her philanthropic efforts have improved the lives of countless people. From the Mar-A-Lago Club to the Hillwood Estate, Post’s life serves as a testament to the power of wealth and the importance of giving back to society.
Conclusion
Marjorie Merriweather Post’s life was one of extravagant wealth and philanthropy. From her massive fortunes to her vast collections of art and jewelry, she left behind a lasting legacy that still resonates today. Through her philanthropic contributions, Marjorie Merriweather Post set an example for future generations to follow – one that reminds us of the importance of giving back to society.
FAQs
Q1: What was Marjorie Merriweather Post’s net worth?
A1: At the time of her death, Marjorie Merriweather Post’s net worth was estimated to be around $200 million, which is equivalent to approximately $1.3 billion in today’s dollars.
Q2: What did Marjorie Merriweather Post inherit?
A2: Marjorie Merriweather Post inherited $20 million after her father’s death, which is equivalent to approximately $495 million in today’s dollars.
Q3: What businesses did Marjorie Merriweather Post invest in?
A3: Marjorie Merriweather Post invested in several businesses, including a majority stake in General Foods Corporation.
Q4: What is the Mar-A-Lago estate?
A4: The Mar-A-Lago estate is a mansion in Palm Beach, Florida, that was owned by Marjorie Merriweather Post. The property features a 110,000-gallon swimming pool, a ballroom, and 58 bedrooms.
Q5: What is the Hillwood Estate?
A5: The Hillwood Estate is a museum located in Washington D.C. that was once owned by Marjorie Merriweather Post. It showcases her extensive art and jewelry collections.