Catherine T. MacArthur
Catherine MacArthur | |
|---|---|
| Born | Catherine Terese Hyland November 23, 1908 |
| Died | December 15, 1981 (aged 73) |
| Occupation | Philanthropist |
| Known for | MacArthur Foundation |
| Spouse(s) | |
Catherine Terese MacArthur (née Hyland; November 23, 1908 – December 15, 1981) was an American philanthropist. With the estate of her husband, businessman and philanthropist John D. MacArthur, she co-founded the MacArthur Foundation, one of the 10 largest philanthropic foundations in the United States.
Life[]
Born Catherine Terese Hyland in 1908, MacArthur was one of nine children of Irish immigrants on Chicago's South Side.[1][2] Her father owned and operated several retail stores, was active in Democratic politics in Chicago, and held several state and local governmental positions.[1]
In 1928 she married John D. MacArthur. It was MacArthur's second marriage and her first.[citation needed] In 1935, MacArthur purchased Bankers Life and Casualty for $2,500 and used mass marketing techniques to sell insurance by mail.
Banker's Life was the basis of John's phenomenal success in real estate and insurance. Official Banker's Life press releases verify that Catherine was intimately involved in the business's success. She appears throughout the records under her maiden name, C.T. Hyland, as corporate secretary, director, or both.[3]
Despite their vast wealth, the MacArthurs were known for their frugality.[citation needed] In 1963, when John was already one of the wealthiest men in the United States,[citation needed] he purchased the Colonnades Hotel in Palm Beach Shores on Singer Island, Florida. Catherine lived with her husband in a modest apartment overlooking the parking lot, while John conducted his business from a corner table in the hotel's coffee shop.[4]
When John D. MacArthur died on January 6, 1978, he was worth over $1 billion and reportedly one of the three wealthiest men in the United States.[1] He left ninety-two percent of his estate to the John D. and Catherine T. MacArthur Foundation.[citation needed] His will stipulated that the foundation's first board of directors include Catherine, J. Roderick MacArthur (a son from MacArthur's first marriage), three officers of Bankers Life and Casualty, and radio commentator Paul Harvey.[citation needed] For the remainder of her life, Catherine was a key figure in the Foundation's operations.
Death[]
Catherine T. MacArthur died December 15, 1981 in her Colonnades Hotel apartment.[citation needed]
References[]
- ^ a b c About John D. and Catherine T. MacArthur
- ^ Kriplen, Nancy (2008), The Eccentric Billionaire: John D. MacArthur--Empire Builder, Reluctant Philanthropist, Relentless Adversary, New York: American Management Association, p. 50, ISBN 978-0814408896
- ^ Learning to Give - John D. and Catherine T. MacArthur Foundation Archived 2007-07-15 at the Wayback Machine
- ^ Lowery, Fred, "Celebrity Days Remembered As Colonnades Hotel Is Razed", South Florida Sun-Sentinel, February 17, 1990
External links[]
- 1908 births
- 1981 deaths
- American businesspeople in insurance
- American people of Irish descent
- Philanthropists from Illinois
- People from Chicago
- People from Palm Beach County, Florida
- 20th-century American businesspeople
- 20th-century American philanthropists