What is Wellington R. Burt's Net Worth?
Wellington R. Burt was an American industrial baron who had a net worth of $90 million. Wellington R. Burt was born in Pike, New York in August 1831 and passed away in March 1919. At one point Burt was ranked as the 8th wealthiest man in America. He was involved in iron minding, salt mines, railroads, finances, and best known for lumber mills and timber holdings. Burt was also a politician and was Mayor of East Saginaw from 1867 to 1868. He served as a Senator from Michigan from 1893 to 1894. Burt was nicknamed "The Lone Pine of Michigan" and lived alone in a mansion with his servants.
Will and Estate: Wellington had a strange will that contained a spite clause to avenge a family feud. The clause said that the bulk of his fortune could not go to any descendants until 21 years after both his children and grandchildren passed away. Those conditions were met in 2010 when 12 of his descendants received the estate which was worth around $100 million. Burt owned most of the Ann Arbor Railroad system at one time and bought railways in China and Russia.
