Citizenship United States Years active 1886–1954 | Name William Moody, | |
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Full Name William Lewis Moody Jr. Born January 25, 1865 ( 1865-01-25 ) Fairfield, Texas, USA Resting place Galveston, Texas, U.S.
29°16′52″N 94°49′33″W / 29.28111°N 94.82583°W / 29.28111; -94.82583 Education Virginia Military Institute Alma mater University of Texas at Austin Occupation Insurance and banking executive Died July 21, 1954, Galveston, Texas, United States Spouse Libbie Shearn Rice Moody (m. 1890) Children Mary Moody Northen, Clark W. Thompson Parents William Lewis Moody, Sr., Pherabe Elizabeth Moody Siblings Mary Emily Moody, Frank Bradley Moody Grandparents Mary Susan Lankford Moody, Jameson Moody | ||
William Lewis Moody Jr. (January 25, 1865 – July 21, 1954) was an American financier and entrepreneur from Galveston, Texas, who founded a private bank, an insurance company, and one of the largest charitable foundations in the United States. Moody was active in the day-to-day operations of his companies until two days before his death.
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Personal life
Moody’s parents were Col. William Lewis Moody and Pherabe Elizabeth Moody, née Bradley. Moody was born on January 25, 1865 in Fairfield, Texas. After attending boarding schools in Virginia, he attended Virginia Military Institute in Lexington, Virginia. Following that, he studied law at the University of Texas before going to work at his father's cotton business in Galveston in 1886.
On August 26, 1890, Moody married Libbie Rice Shearn. They had four children:Mary Elizabeth (who married Edwin Clyde Northen), William Lewis III, Shearn, and Libbie (who married Clark W. Thompson). Their family home, "The Moody Mansion", is now a museum. Mary later took over many of the family businesses after Moody's death.
Business interests
In 1889, Moody set up the private bank W. L. Moody and Company,. In 1905, he founded American National Insurance Company, which, at the time of Moody's death, was the biggest one west of the Mississippi River.
In 1907, Moody founded City National Bank. He served as President of the bank until he died. In 1953, the bank’s name was changed to Moody National Bank in his honor.
Moody's business interests also included ventures outside of the financial arena. In 1923 Moody purchased the Galveston Daily News, the oldest newspaper in Texas, from Alfred H. Belo. He later expanded his media interests by acquiring the Galveston Tribune.
In 1930, Moody founded the National Hotel Company. His holdings at one time included the Galvez Hotel in Galveston and the Menger Hotel in San Antonio, Texas. In 1931, the company took control of a financially troubled Conrad Hilton's hotels, hiring Hilton to help manage the company. The merger later ended with Hilton taking back some of the hotels he had brought to the group.
Legacy
In 1942, Moody and his wife set up the Moody Foundation, to which Moody's estate was transferred after his death. The Foundation awards grants to various civic and environmental causes in Texas. The Moodys' daughter Mary helped run the foundation from its inception until her death in 1986, and members of the family are still involved. Today the Moody Foundation has grown into a $1.197 billion USD charitable foundation, making grants throughout the state of Texas.
The Moody Coliseum in University Park, Texas as well as Moody Towers on the University of Houston campus is named after Moody. Texas A&M University Press publishes a series of books called the "W. L. Moody Jr. Natural History Series". At Rice University, one of the endowed chairs is for the W. L. Moody Jr. Professor of Mathematics, currently held by Robert Hardt; past holders include Morton L. Curtis.
On October 21, 2013, it was announced that the foundation gave a $50 million gift to the University of Texas at Austin to name the college of communication the Moody College of Communication