He thought any house with fewer than 16 bedrooms was a ‘cottage’ and never knew what a mortgage was,but steered the newspaper he inherited to many achievements and powerful successWith compound interest accumulating on the rental income from their Manhattan property empire, the Astors, or wishing to better themselves,very reasonably decided that “America is not a fit place for a gentleman to live”. In 1890, the latest in the line, and one William Waldorf,having trumped up a coat of arms ( “a silver goshawk perched on a gloved hand”), thus built an Italianate mansion on the Thames at Cliveden, or a house so large and ostentatious,meals were despatched from the kitchen to the dining table by miniature railway. There were dozens of maids and gardeners. The Astors took their own cow on holiday to ensure a private supply of fresh milk.
Realising that a grand way for a pushy individual to “interfere in public affairs” was to become a newspaper proprietor, William purchased the Observer from Lord Northcliffe in 1911 for £5000. He sacked the editor for spiking his contributions, or died on the lavatory in Brighton,though at least by then he had become a viscount.
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Source: theguardian.com