Hulton Archive / Stringer

By Bethany Bengtson and Mark J . Higgins

“[ Hetty Green ] lived at various times in poor neighborhoods where her property was located … Probably many a discouraged fellow out of work never attributed his newly found job to the shabby old lady on the floor above … But those who were closest to her know that many little acts like this were put down to her credit by the recording angel .”

— New York Times Magazine ( July 9 , 1916 )

The Fall 2022 issue of Financial History featured an article , entitled “ The Story of Hetty Green : America ’ s First Value Investor and Financial Grandmaster .” The article focused primarily on

This photo of Hetty Green was taken on February 23 , 1909 at the wedding of Sylvia Green Wilks . A photo of Sylvia ’ s will appears on the left .

Hetty Green ’ s extraordinary investment abilities , which enabled her to flawlessly navigate the panic-prone markets of the Gilded Age . But Hetty was much more than a masterful investor — she was also an admirable human being . In fact , one reason her name is rarely the topic of conversation today is because , unlike many Gilded Age titans of industry , she erected no monuments to glorify her conquests . Instead , she gave back to society quietly in the form of daily acts of kindness and discreet charity .

Hetty Green passed away on July 3 , 1916 , and her fortune was split between her son Edward “ Ned ” Green and daughter Sylvia Green Wilks . When Ned passed away , Sylvia inherited his share . Then , when Sylvia passed away on February 5 , 1951 , Hetty Green ’ s former estate , which was estimated to be at least $ 100 million ( roughly $ 1.2 billion in 2025 dollars ), was distributed to 63 institutions . The names of many institutions were never disclosed publicly .

In the summer of 2024 , we channeled Hetty Green ’ s spirit and embarked on a treasure hunt of our own . Our goal was to find Sylvia Wilks ’ s long-forgotten will . After reaching a few dead ends , we located it in the archives of the New York County Surrogate ’ s Court . The will revealed the identities of 63 organizations that received shares of Hetty Green ’ s fortune . Few people at these organizations can recall the source of their unexpected windfall , and even fewer appreciate how closely their missions align with the values Hetty Green espoused more than 100 years earlier .

Hetty Green was derided as the “ Witch of Wall Street ” throughout her life and long after her death , but the handful of people familiar with her true character regarded her as Wall Street ’ s queen . Unlike most of Wall Street ’ s rulers , however , Hetty was revered for her benevolence . She was tough on people who lacked integrity , but if you entered her domain in good faith , you were treated fairly and respectfully .

Hetty Green ’ s wealth benefits countless individuals today , yet the few people who even recognize her name usually regard her as a ruthless and inconsequential miser . Even more tragic is the fact that the timeless values underpinning her success are almost universally disregarded . Among the more important include her appreciation for self-education , passion for her career , unwavering commitment to civic duty and lifelong practice of discreet charity . These values closely align with the missions of the organizations that benefit from her wealth . For the first time in history , this article reveals the names of these organizations and the values they share with Wall Street ’ s forgotten queen .

10 FINANCIAL HISTORY | Winter 2025 | www . MoAF . org