The lives of extremely wealthy people are often kept under wraps, probably in part because just being extremely wealthy imposes a certain risk. After all, when American gangster Willie Sutton was asked why he robbed banks, he said “because that’s where the money is.” (Note: he almost certainly didn’t say that, but it makes the point anyway.) There is an interesting thread to follow, when possible, though: what were the differences in being extremely wealthy several centuries ago compared to, say, the 20th Century?
John Basset was an English gentleman born into a well established, noble, and filthy rich family on October 26, 1518. He never accomplished anything notable (he only lived to be 23 though), but we have some records about his life because some of his letters have been preserved, as well as many other letters by his family and contemporaries — and he’s mentioned fairly often. He had two brothers and three sisters, and they all went on to have something to do with this or that royal family in England — Queen Mary I, Queen Anne of Cleves, and so on. His family was in the highest circle of Tudor society (the Tudors were the ruling family in England for a while) and John was brought up in not one but two estates — which, if you visited them today, you’d call “castles” or even “palaces.” He had his own personal servant, and that was in addition to the large staff of each estate.
We know from various letters about his education (his mother had her London business agent manage things like that) that he studied Latin, and at 16 enrolled in law school. He studied under private tutors, and the letters detail how much he spent on clothing, rent, spending money, and assorted entertainment. It was, evidently, quite a bit, but that was of no consequence. Although it’s also the case that while he was very well supplied with apparel, that didn’t mean he had a huge wardrobe — he had a nightgown, two jackets, two “doublets” (undershirts, sort of) two pairs of “hosen” (socks, more or less), and a “study gown” lined with fur. That was apparently all you needed in the early 1500s. Or at least all you got. He got married at 20, had three children, but died at 23 of an unstated illness. He had made a will, and left five estates and considerable land to his male heirs.
Abigail Aldrich was born on October 26, 1874 to a prominent and wealthy family in Rhode Island, US. She never accomplished anything of particular note unless you enjoy fine art; she amassed a large collection that’s now mostly in the Museum of Modern Art in New York.
Her father was a US Senator, so as a child Abigail met many of the leading political figures in the US. She was educated at Miss Abbott’s School for Young Ladies, and studied languages, history, art, and learned gymnastics and dancing. She had her “social debut” party when she was 19, and afterward embarked on a four-month tour of Europe, financed by her family, and featuring visits to art dealers and galleries — it was the beginning of her later avocation, which was collecting art.
During the trip she met John D. Rockefeller, Jr. — and if the Aldriches were wealthy, the Rockefellers were on an entirely different level. Aldrich kept an “engagement book,” which young society debutantes used to record meetings with any young men they were interested in marrying. Her book records frequent meetings with Rockefeller for seven years, when they finally did get married. The wedding was one of the biggest social events of the “Gilded Age” in the US, and took place at her father’s “Summer Cottage,” Indian Oaks. It’s still there, and now used for private events, conferences, and as a movie set (you can see it in the movie Meet Joe Black). After the wedding, the Rockefellers set up housekeeping in any number of estates, and Abigail became known for lavish parties that everyone in her elite circle simply had to attend. They had six children, all of whom went on to prominence in business and politics (their son Nelson became a state governor and US vice president).
Possibly the biggest difference in being super-rich in the 1500s versus the 1900s is medical care. Abigail lived to be 73, and died of a heart attack. She left an estate worth millions, but that was just her personal fortune — or share of the family fortune. You can visit the Abby Aldrich Rockefeller room at the Museum of Modern Art, where you can see a portion of her art collection — that room only contains 1600 pieces, though, so there’s plenty more elsewhere.
