Shelby Cullom Davis
Shelby Cullom Davis | |
|---|---|
| Born | Template:Birth date Peoria, Illinois, U.S. |
| Died | May 26, 1994 (aged 85) Hobe Sound, Florida, U.S. |
| Occupation(s) | Entrepreneur, investor, philanthropist, diplomat |
| Years active | 1941–1994 |
| Known for | Founder of Shelby Cullom Davis & Company; U.S. ambassador to Switzerland |
Shelby Cullom Davis (April 1, 1909 – May 26, 1994) was a prominent American entrepreneur, investor, and philanthropist. He established Shelby Cullom Davis & Company in 1947, which grew into a major investment firm. Additionally, he held the position of U.S. ambassador to Switzerland during the administrations of Presidents Richard Nixon and Gerald Ford.
Early life and education
Born in Peoria, Illinois, Davis completed his secondary education at the Lawrenceville School in New Jersey in 1926. He obtained a bachelor's degree from Princeton University in 1930 and went on to earn a master's degree from Columbia University in 1931. By 1934, he had achieved a doctorate in political science from the Graduate Institute of International Studies in Geneva, where his thesis examined military personnel issues in Africa.
His family background included his uncle, Shelby Moore Cullom, who served as a long-standing U.S. Senator and was instrumental in introducing legislation that led to the creation of the Interstate Commerce Commission.
Career
Davis began his professional journey as a European correspondent for CBS Radio stationed in Geneva. In 1941, he became a member of the New York Stock Exchange. With an initial capital of $100,000, he launched Shelby Cullom Davis & Company six years later, focusing on investments within insurance securities.
He contributed as an economist and research assistant to District Attorney Thomas E. Dewey, providing counsel during Dewey's presidential campaigns in 1940 and 1944. Subsequently, Dewey appointed him as First Deputy Superintendent of Insurance from 1944 until 1947.
Philanthropy
Davis was a generous benefactor to institutions such as Princeton University, where he made substantial donations. He also financed academic chairs and professorships at Wellesley College, and endowed the Cullom-Davis Library at Bradley University. The establishment of a Professorship of International Security Studies at the Fletcher School of Law and Diplomacy carries his name. His philanthropy extended to supporting the Library and Museum of the Performing Arts at Lincoln Center and contributing to the Society of Colonial Wars, which honors him through the Shelby Cullom Davis Lecture. In 2013, his charitable foundation granted $10 million to Colby College in Maine.
The Shelby Cullom Davis Center for Historical Studies within the Department of History at Princeton University is named after him.
A dispute regarding the allocation of funds for the Shelby Cullom professorship at Trinity College led to controversy, ultimately resulting in the resignation of its president and raising questions about donor intent.
Affiliations
Davis held leadership roles including chairman and treasurer of the politically conservative Shelby Cullom Davis Foundation. His associations extended to influential groups such as The Heritage Foundation, The Mayflower Society, Sons of the Revolution, and The Society of the Cincinnati. He also served as an officer within The Huguenot Society of America.
Death
At age 85, Davis passed away following a brief illness at his residence in Hobe Sound, Florida. He was survived by his wife of 62 years, Kathryn Wasserman Davis, their two children—Shelby M. C., who resides in Manhattan, and Diana D. Spencer—and eight grandchildren. At that time, Shelby M.C. Davis was leading Shelby Cullom Davis & Company and had founded Davis Selected Advisers in 1969; during the 1980s, he was listed among Forbes magazine’s 400 wealthiest Americans.