Early Life
Mosbacher was born in Mount Vernon, New York, the son of Gertrude (née Schwartz) and Emil Mosbacher. His grandparents were German Jewish immigrants. Mosbacher's father was a wealthy stock trader who divested himself of most of his holdings before the Wall Street Crash of 1929, so that the Mosbacher family did not suffer great financial hardship during the Great Depression. Mosbacher graduated from The Choate School (now Choate Rosemary Hall) in Wallingford, Connecticut, and in 1947 from Washington & Lee University in Lexington, Virginia, with a degree in business administration. After graduation, he went to Texas where his father had some oil investments and entered the oil business himself. He met and befriended future president George H.W. Bush in Texas.
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