Entrepreneur. He is credited with being one of the first millionaires in United States history. His career began in American colonies with his sea captain father's privateering business, which consisted of privately-owned ships that were permitted by the government to attack and capture enemy ships and misappropriate any wealth on these ships. The son of successful merchant Richard Derby, the family business expanded and prospered profoundly under his care. He was a merchant and the owner of the "Grand Turk", the first New England vessel to facilitate trade directly with China. From his home base in Salem, Massachusetts, he oversaw traditional trade transactions, as well as privateering during the American Revolution. He never went out to sea himself, but was an excellent bookkeeper, businessman and delegator. During that period, his prize ship, the "Grand Turk," overtook 25 British vessels. He also financed the outfitting of dozens of additional Salem ships in support of the colonies' independence. After the war, in 1784, the "Grand Turk" made history with its voyage to China. That same year, another of his ships opened trade with the Russian Empire. By the 1790s, one-third of the Salem ships that rounded the Cape of Good Hope in Africa were part of his private fleet. According to the "Journal of the American Revolution," he was declared to be a millionaire by the time of his death. His wealth and influence over Salem and its mercantile industry caused author Nathaniel Hawthorne to dub him "King Derby" in his novel "The Scarlet Letter" decades after his death. Several Salem landmarks continue to bear the Derby name, including Derby Square, Derby Street, and Derby Wharf.
Entrepreneur. He is credited with being one of the first millionaires in United States history. His career began in American colonies with his sea captain father's privateering business, which consisted of privately-owned ships that were permitted by the government to attack and capture enemy ships and misappropriate any wealth on these ships. The son of successful merchant Richard Derby, the family business expanded and prospered profoundly under his care. He was a merchant and the owner of the "Grand Turk", the first New England vessel to facilitate trade directly with China. From his home base in Salem, Massachusetts, he oversaw traditional trade transactions, as well as privateering during the American Revolution. He never went out to sea himself, but was an excellent bookkeeper, businessman and delegator. During that period, his prize ship, the "Grand Turk," overtook 25 British vessels. He also financed the outfitting of dozens of additional Salem ships in support of the colonies' independence. After the war, in 1784, the "Grand Turk" made history with its voyage to China. That same year, another of his ships opened trade with the Russian Empire. By the 1790s, one-third of the Salem ships that rounded the Cape of Good Hope in Africa were part of his private fleet. According to the "Journal of the American Revolution," he was declared to be a millionaire by the time of his death. His wealth and influence over Salem and its mercantile industry caused author Nathaniel Hawthorne to dub him "King Derby" in his novel "The Scarlet Letter" decades after his death. Several Salem landmarks continue to bear the Derby name, including Derby Square, Derby Street, and Derby Wharf.
Bio by: Kurt's Historic Sites
Gravesite Details
Interred in Richard Derby plot — name not included on the grave marker.
Family Members
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