The Riches, Robberies, And Eerie Stories Of The 12th Richest Family In America, The Hearsts

The Hearst family is one of the most powerful and successful in America, with a business empire that spans from mining to newspaper publishing. Their company, Hearst Communications, brings in around $11.5 billion annually, and the family is worth a whopping $21 billion.

The Hearst family may have a fancy last name now, but they had humble beginnings. George Hearst, the patriarch of the family, was raised in a log cabin on a small farm in Missouri. As a kid, he spent his days hunting for chunks of lead in the copper mines nearby, sparking a lifelong passion for mining.

George took the reins of the family farm and turned it around. He opened a store and leased two lead mines, which quickly began producing valuable minerals. In just two years, he was able to pay off his father’s debt.

After a bit of mining-buying and selling, George found himself with a share in the Ophir silver mine in Nevada. This little investment ended up producing 38 tonnes of silver ore, which sold for a pretty penny at $91,000, that’s around $2.5 million in today’s money!

When Homestake Mining Company made its debut on the Stock Exchange in 1879, it was a real game-changer. Not only did it strike gold (literally) by producing 39.8 million troy ounces of the precious metal, but it also mined 9 million troy ounces of silver. The mine was in operation until 2001.

Phoebe Apperson, a Missouri native, married George at just 19 years old. Her parents weren’t thrilled about the age difference, but Phoebe had a sharp mind and was able to secure 50 shares in George’s profitable Comstock mine through a pre-nuptial agreement. Before getting hitched, Phoebe was a school teacher, and her love for education carried on into her philanthropy.

As the sole heir to George’s multimillion-dollar fortune, Phoebe made a big splash in the world of philanthropy. She loved donating antiquities to museums and funding archaeological expeditions. One of her most notable contributions was sponsoring a competition to redesign the University of California at Berkeley campus in 1895. The winning design was the Hearst Memorial Mining Building, dedicated to her late husband.

Phoebe was a big believer in education as a driver for social mobility. She co-founded the National Congress of Mothers, which eventually evolved into today’s National Parent-Teacher Association. She was a strong advocate for the Suffragette Movement, supporting votes for women in 1911.

Phoebe wasn’t one to rest on her laurels. Despite her gold mines bringing in a cool $10 million per year, she decided to scale back her charitable giving in her later years. Instead, she retreated to the luxurious Hacienda del Pozo de Verona, her 18th-century Spanish-style mansion in California.

William Randolph Hearst was a man of many talents, including a flair for the dramatic. While studying at Harvard University, he was a part of the Hasty Pudding Theatricals, a drama group known for their burlesque cross-dressing musicals. But it was his love for pranking professors that ultimately led to his expulsion from the prestigious university.

William was determined to make a name for himself and begged his dad for the opportunity to take over the struggling San Francisco Examiner newspaper. His father said yes and with a little financial boost from his mom, William poured $8 million of family funds into the paper.

In the late 1800s, William had big plans for his media empire. He invested a whopping $150,000 (which would be around $4.4 million today) to purchase The New York Morning Journal.

William Hearst and Joseph Pulitzer were soon locked in a fierce sales battle, and Hearst wasn’t afraid to pull out all the stops. He poached some of the top writers from Pulitzer’s New York World by offering them higher salaries. But, Hearst wasn’t just a ruthless businessman. He also had a sense of adventure and sent a daring reporter to break a young Cuban rebel out of jail – and it worked!

William was a man on a mission. He had his sights set on political power and worked hard to achieve it. He was elected to the House of Representatives as a New York Democrat twice, but unfortunately, his presidential bid in 1904 didn’t pan out. Despite reportedly spending $2 million on his campaign, he fell short of the mark.

William, following in his father’s footsteps, decided to marry a much younger woman later on in his life. In 1903, at the age of 40, he wed 21-year-old showgirl Millicent Wilson. However, he also became infatuated with another chorus girl, 19-year-old Marion Davies.

Hearst Castle, a palatial 250,000-acre hilltop estate overlooking San Simeon, California, was the home that William shared with his mistress Marion. The castle was built by architect Julia Morgan, starting in 1919 and ending in 1947, costing Hearst nearly $10 million.

By the 1920s, William was a real media mogul. He had his hands in newspapers, magazines, and even real estate. His papers were read by a quarter of the US population and he owned a ton of land, thanks to his father’s money-making mining and timber interests.

The stock market crash of 1929 hit William hard. He had over-extended himself and couldn’t pay his debts. In 1937, the Hearst Corporation had to go through a court-ordered reorganization, cutting his salary to $500,000 and stopping his annual $700,000 dividend.

William’s reputation took a hit with the release of the 1941 movie Citizen Kane. Directed by Orson Welles, it tells the story of a fictional newspaper magnate widely believed to be based on William. In an effort to protect his reputation, William used his influence to suppress the movie.

William had a rough decade but managed to turn things around in the 1940s. As business picked up, he went back to collecting art and his castle is proof of his love for antiques. William passed away in 1951 at 88, leaving behind a massive $31 billion fortune.

All five of William’s sons eventually joined the family business. His second son, William Randolph Hearst Junior, became a famous war correspondent and even won a Pulitzer Prize. Fourth son Randolph managed the San Francisco Examiner, which was the paper that started it all for his father’s media empire.

Patricia Campbell Hearst was just a carefree teenager, living her best life in California. But on a fateful February evening in 1974, her world was turned upside down when armed intruders broke into her apartment. They beat up her fiancé and kidnapped her, blindfolding her and throwing her into their car.

In April of that year, Patty was caught on security cameras participating in a bank robbery in San Francisco, which netted the SLA a significant sum of money. Later, she was also seen outside a store in Los Angeles, where she attempted to free a captured member of the group.

In September of that year, Patty was finally arrested for armed robbery. Despite her claims of being brainwashed, she was convicted and sentenced to seven years in prison. It’s now believed that Patty was a victim of Stockholm Syndrome, a condition where captives bond with their abuser in order to survive.

Patty has had a pretty interesting life since then. After her ordeal, she went on to marry her bodyguard and has since made a name for herself as an author, actress, and charity fundraiser. With a net worth of $50 million, she’s definitely doing well for herself.

Amanda Randolph Hearst, cousin of Lydia and niece of Patty, is a fashion-savvy Hearst known for her work as a fashion editor at Marie Claire and as a co-founder of luxury ethical fashion label Maison de Mode. The brand is a shining example of Amanda’s commitment to sustainable fashion, a passion she discovered while working at Marie Claire.

William Randolph Hearst III is the current chairman of Hearst Corporation and believed to be the wealthiest Hearst of them all. With a net worth of $2.3 billion, he’s certainly no slouch when it comes to wealth.

The Hearst business is quite the media heavyweight, with a portfolio that includes 24 daily and 52 weekly newspapers in the US, as well as 250 international magazines. They also have a strong presence in television, with 33 stations reaching 19% of viewers in the US.