Financier, Industrialist, Sportsman, and Philanthropist. Son of David John and Mary Moody Young, grandson, and namesake, of Robert Moody, builder and owner of the Moody Hotel, who brought banking into Oklahoma. educated at Culver Military Academy in Indiana and at the University of Virginia. In 1916 he took a job as a powder cutter at the E. I. DuPont gunpowder plant in New Jersey. Working his way up to the treasure's office, he learned much about financing. In 1920 he left DuPont and joined John J Raskob and General Motors in their quest for domination. Leaving GM in 1929, he subsequently made a fortune selling his GM stocks short of their earlier value. In 1931, he formed a brokerage partnership with Frank Kolbe and bought a seat on the New York Stock Exchange in order to speculate in stocks. In 1942 he formed an alliance with Allan P. Kirby and bought controlling interest in the railroad holding company Alleghany Corporation, which controlled amongst others the Chesapeake and Ohio Railway and the Pere Marquette Railroad. Attempting to buy the bankrupt Pullman Company for forty-three million dollars, he was largely involved in modernizing the railroad cars, installing the first computers in a railcar in the Chesapeake. In the early 1950's, he turned his attention to the New York Central Railroad for decades run by the Vanderbilt family and in 1954, after a long battle, he finally managed to seize control of the railroad and it's chairmanship. Though he maintained a massive office in New York City overlooking the Grand Central Station, he preferred to do most of his office work in the privacy of the walnut den of his Newport home,'Fairholme'; where he often entertained his friends the Duke and Duchess of Windsor. On January 25, 1958, while at his winter estate 'The Towers' in Palm Beach, Young put his diamond-studded pistol in his mouth and pulled the trigger. He was brought by special train to his beloved Newport 'Fairholme', where he was interred at St. Mary's Cemetery.
Bio by: Bobby Kelley
Bio by: Bobby Kelley
Financier, Industrialist, Sportsman, and Philanthropist. Son of David John and Mary Moody Young, grandson, and namesake, of Robert Moody, builder and owner of the Moody Hotel, who brought banking into Oklahoma. educated at Culver Military Academy in Indiana and at the University of Virginia. In 1916 he took a job as a powder cutter at the E. I. DuPont gunpowder plant in New Jersey. Working his way up to the treasure's office, he learned much about financing. In 1920 he left DuPont and joined John J Raskob and General Motors in their quest for domination. Leaving GM in 1929, he subsequently made a fortune selling his GM stocks short of their earlier value. In 1931, he formed a brokerage partnership with Frank Kolbe and bought a seat on the New York Stock Exchange in order to speculate in stocks. In 1942 he formed an alliance with Allan P. Kirby and bought controlling interest in the railroad holding company Alleghany Corporation, which controlled amongst others the Chesapeake and Ohio Railway and the Pere Marquette Railroad. Attempting to buy the bankrupt Pullman Company for forty-three million dollars, he was largely involved in modernizing the railroad cars, installing the first computers in a railcar in the Chesapeake. In the early 1950's, he turned his attention to the New York Central Railroad for decades run by the Vanderbilt family and in 1954, after a long battle, he finally managed to seize control of the railroad and it's chairmanship. Though he maintained a massive office in New York City overlooking the Grand Central Station, he preferred to do most of his office work in the privacy of the walnut den of his Newport home,'Fairholme'; where he often entertained his friends the Duke and Duchess of Windsor. On January 25, 1958, while at his winter estate 'The Towers' in Palm Beach, Young put his diamond-studded pistol in his mouth and pulled the trigger. He was brought by special train to his beloved Newport 'Fairholme', where he was interred at St. Mary's Cemetery.
Bio by: Bobby Kelley
Bio by: Bobby Kelley
