Death and Legacy
Matthew died on May 27, 1912 at his summer residence in Oceanic, New Jersey. When word of his death was received, all of his mills were temporarily closed.
He left an estate valued at over $5 million, about half of which was from his shares in the American Printing Company. His will also provide for $250,000 to Yale University.
In 1918, the United States Navy acquired another Borden's luxury yacht, also called Sovereign (launched 1911). It was renamed the USS Sovereign, and served as a patrol boat during World War I. In April 1919, the Sovereign was stricken from the Navy List, and soon after returned to her owner's estate.
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“What is popularly called fame is nothing but an empty name and a legacy from paganism.”
—Desiderius Erasmus (c. 1466–1536)