Floyd Odlum

Floyd Bostwick Odlum
Born	Template:Birth date
Died	June 17, 1976(1976-06-17) (aged 84)
Occupation(s)	Attorney, industrial magnate
Known for	Accumulating wealth during the Great Depression; investments in RKO Studios, Convair, Northeast Airlines, Bonwit Teller

Floyd Bostwick Odlum (March 30, 1892 – June 17, 1976) was a prominent American attorney and industrial magnate, recognized for accumulating considerable wealth throughout the Great Depression era.

Life and career

Odlum began his professional journey facing challenges as a corporate lawyer in Salt Lake City. In 1921, he relocated to New York to serve as vice-president for his principal client, the Electric Bond and Share Company. Two years later, in 1923, he and partners combined resources amounting to $39,600 to establish the United States Company, engaging in speculative investments in utilities and securities. Within a span of two years, their assets expanded nearly seventeen times, reaching approximately $700,000. To streamline these investments, Odlum founded Atlas Utilities Company in 1928.

Foreseeing the impending stock market collapse of 1929, he divested half of Atlas's holdings and secured $9 million from investors, retaining $14 million in liquid funds and short-term notes when the crash occurred. Throughout the Depression, Atlas capitalized on acquiring stocks at depressed prices from financially distressed firms. Following President Franklin D. Roosevelt's inauguration, Odlum adjusted his approach by liquidating utility assets ahead of stricter regulations and concentrating on large-scale financial operations. By 1933, he was counted among the top ten wealthiest individuals in the United States.

His investment portfolio featured significant interests in RKO Studios, Convair, Northeast Airlines, and Bonwit Teller. His engagements in aviation connected him with financier George Newell Armsby and ventures such as Transcontinental Air Transport, Inc.. In 1948, Odlum sold RKO to Howard Hughes. Additionally, he supported Broadway productions including The Pajama Game, playing a role in talent discovery and attracting investment from firms like Goldman Sachs.

Odlum's first marriage was to Hortense McQuarrie (1915–1935), who previously led Bonwit Teller. He later married aviator Jacqueline Cochran in 1936. The couple maintained a close relationship with aviator Amelia Earhart and provided financial backing for her flights. They established the Cochran-Odlum Ranch in Indio, California, which served as their home starting in the 1950s.

Together with associate L. Boyd Hatch, Odlum acquired and developed Pine Glenn Cove (also known as St. Ann's Retreat) located in Logan Canyon, Utah; this property is currently listed on the National Register of Historic Places.

In 1964, both Odlum and Jacqueline Cochran were honored with the Golden Plate Award by the American Academy of Achievement.

Odlum passed away in 1976 at age 84; Cochran died four years later in 1980.