The Biographical Dictionary of America/Astor, William Backhouse

ASTOR, William Backhouse, capitalist, was born in New York. Sept. 19, 1792, son of John Jacob, 2d, and Sarah (Todd) Astor. He was educated in the public schools and in 1808 was sent to Heidelberg, where he studied until 1810, he then went to Göttingen, where he had as his tutor the Chevalier Bunsen. He returned to New York in 1815 when his father took him into partnership, and embarked in the china trade under the firm name of John Jacob Astor & Son. In 1827 the partnership was dissolved, the Astors retiring from the china trade, and the American fur company began business, with William B. Astor as its president. Mr. Astor married Margaret Rebecca, daughter of John and Alida (Livingston) Armstrong, her mother being a daughter of Robert R. Livingston and her father the secretary of war under President Madison. On the death of his father Mr. Astor retired from commerce and occupied himself with the affairs of his vast estate. He followed the policy of his father in regard to the buying of land and the building of first-class houses. He followed his father's example also, in regard to his benefactions. The Astor library building was finished by him in 1853, and he gave to it in gifts and bequests the sum of $550,000; he also gave $50,000 to St. Luke's hospital, and left many bequests to charitable objects. His estate at his death was valued at $45,000,000, which was divided between his two elder sons, John Jacob and William, his younger son Henry being disinherited on account of his marriage. Henry, however, was a beneficiary by the will of his grandmother, and with the Astor prudence he accumulated an independent fortune. William B. Astor died Nov. 24. 1875.