Horatio Hathaway (May 19, 1831 – March 25, 1898) was a

New England New England is a region comprising six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York to the west and by the Canadian provinces ...

industrialist, politician, and philanthropist and namesake of

Berkshire Hathaway Berkshire Hathaway Inc. () is an American Multinational corporation, multinational conglomerate (company), conglomerate holding company headquartered in Omaha, Nebraska, United States. Its main business and source of capital is insurance, from ...

Early life

Hathaway was born on May 19, 1831 to Nathaniel Hathaway and Anna (Shoemaker) Hathaway in New Bedford. Hathaway attended

Phillips Andover Academy ("Not for Self") la, Finis Origine Pendet ("The End Depends Upon the Beginning") Youth From Every Quarter Knowledge and Goodness , address = 180 Main Street , city = Andover , state = Ma ...

, and graduated from

Harvard University Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...

in 1850. He then travelled to China on a merchant ship, spending two years away from America, participating in the

China Trade The Old China Trade () refers to the early commerce between the Qing Empire and the United States under the Canton System, spanning from shortly after the end of the American Revolutionary War in 1783 to the Treaty of Wanghia in 1844. The Old ...

. In 1859 Hathaway married Ellen Rodman and they had five children. Hathaway's father, Nathaniel, and Hathaway's uncles, Thomas S. Hathaway and Francis S. Hathaway, operated a tea importing business. After his father's death and his uncle, Francis', death in 1869, and his uncle, Thomas' death in 1878, Horatio inherited a large fortune from the business. Hathaway also served as treasurer of the Potomska Mills for a period.

Civic, business, and philanthropic activities

Hathaway was engaged in various civic activities in the city of New Bedford. He was a member of the Whig Party and then the

Republican Party Republican Party is a name used by many political parties around the world, though the term most commonly refers to the United States' Republican Party. Republican Party may also refer to: Africa *Republican Party (Liberia) * Republican Part ...

He was elected to the city council of New Bedford in 1866 to 1877 and served as president in 1868 and 1869. He lost the mayoral election in 1869. He worked as president of Acushnet Mills and was a director of the Acushnet Mills, Hathaway Manufacturing Corporation, Mechanics' National Bank, the Potomska Mills and

Wamsutta Mills Wamsutta Mills is a former textile manufacturing company and current brand for bedding and other household products. Founded by Thomas Bennett, Jr. on the banks of the Acushnet River in New Bedford, Massachusetts in 1846 and opened in 1848, Wam ...

and other mills in the New Bedford and Fall River area. Hathaway was a co-founder of St. Luke's Hospital. He was an active member and member of the vestry at Grace Church in New Bedford, a

Protestant Protestantism is a Christian denomination, branch of Christianity that follows the theological tenets of the Reformation, Protestant Reformation, a movement that began seeking to reform the Catholic Church from within in the 16th century agai ...

Episcopal church, after leaving the Unitarian Church due to its theologically liberal views, and Hathaway made large donations to Grace Church.

Legacy

Hathaway died March 25, 1898. In 1955, under the leadership of

Seabury Stanton Seabury Stanton (October 9, 1892 – October 19, 1971) was an industrialist from New Bedford, Massachusetts who ran Berkshire Hathaway prior to its takeover by Warren Buffett in 1964. Biography Early life and career Seabury Stanton was born ...

Hathaway Manufacturing Company The Hathaway Manufacturing Company was a producer of cotton textiles founded in New Bedford, Massachusetts in 1888 by Horatio Hathaway, a China trader and whaler in the Pacific. History By 1917, the Hathaway Mills would grow to contain 108,000 ...

merged with

Berkshire Fine Spinning Associates Berkshire Fine Spinning Associates () was an American textile company, founded in 1889 as Berkshire Cotton Manufacturing Company in Adams, Massachusetts in Berkshire County, Massachusetts. History The first mill built by the company was Berksh ...

to become

, which

Warren Buffett Warren Edward Buffett ( ; born August 30, 1930) is an American business magnate, investor, and philanthropist. He is currently the chairman and CEO of Berkshire Hathaway. He is one of the most successful investors in the world and has a net w ...

purchased in 1962 and is now one of the largest companies in the world.

References

{{DEFAULTSORT:Hathaway, Horatio 1831 births 1898 deaths Politicians from New Bedford, Massachusetts American chief executives of manufacturing companies Harvard University alumni Berkshire Hathaway people Phillips Academy alumni 19th-century American businesspeople