Produced in New York in 1792, William Backhouse Astor ran the Astor family companies, but his dad, John Jacob Astor, still made all the major choices. Upon his dad’s passing, Astor became the wealthiest guy in America, inheriting nearly $18 million in 1848. Like his dad, Astor invested in New York City property, and due to his vast holdings, he earned the nickname the “Landlord of The Big Apple.” The second son of John Jacob Astor, the originator of the now-esteemed Astor family’s enormous riches, William was named following a company associate of his dad. He attended boarding school in Connecticut, after studying in the University of Heidelberg as well as the University of Gttingen in Germany.
Shortly after his arrival in The Big Apple, William became a partner in the business Jacob Astor & Son. Though he was a partner, he largely followed his dad’s directions in the running of the business enterprise. Even when he served as head of the American Fur Company, the company which helped create the Astors’ bundle, it apparently was his dad who determined when and the best way to sell the organization ‘s holdings. Upon his dad’s departure, William Astor became the wealthiest guy in America, inheriting nearly $18 million in 1848. Like his dad, William invested in New York City property.