Waddill Catchings - Life and Career

Life and Career

He was a leading banker and financier in the 1910s and 1920s, making (and losing) a fortune of over $250 million. By 1931 he had nearly bankrupted his employer, Goldman Sachs & Co. through his formation of the Goldman Sachs Trading Company and its floating of the Shenandoah & Blue Ridge investment trusts, controlled by Harrison Williams (America's first billionaire). He was a director of major corporations in diverse fields, including leather, motion pictures (Warner Brothers), radio, television, recorded music (Muzak Holdings), tin cans, dry goods, rubber, pharmaceuticals, automobiles (Studebaker and Chrysler), typewriters, breakfast cereals, lumber, mail-order merchandising, music publishing, and electric power.

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