William T. Young

William T. Young
Born	Template:Birth date
Died	January 12, 2004(2004-01-12) (aged 85)
Occupation(s)	Entrepreneur, racehorse owner, philanthropist
Known for	Owner of Overbrook Farm; founder of W. T. Young Foods; philanthropist

William T. Young (February 15, 1918 – January 12, 2004) was a notable American entrepreneur and influential owner of thoroughbred racehorses.

Young earned his Bachelor of Science degree in mechanical engineering with high honors from the University of Kentucky in 1939. Following a brief stint at Bailey Meter in Cleveland, Ohio, he served as a captain in the United States Army during the Second World War.

Business career

Following his military service, Young settled back in Lexington and launched W. T. Young Foods, Inc., which produced the "Big Top" peanut butter brand. He expanded the company into one of the top peanut butter manufacturers in the United States before selling it to Procter & Gamble in 1955; the product was subsequently rebranded as Jif. Young continued overseeing manufacturing operations until 1957, after which he founded W. T. Young Storage, Inc.

Young held a seat on the board of Royal Crown Cola, serving as chairman from 1966 through 1984. He also directed both Kentucky-American Water Company and First Security National Bank and Trust Company of Lexington. At one time, he was the largest individual shareholder in the Humana health insurance firm. During the 1960s and early 1970s, Young was a board member at Kentucky Fried Chicken, working alongside CEO John Y. Brown Jr. When Brown assumed Kentucky’s governorship in 1979, he appointed Young as chairman of the executive cabinet. Additionally, Young led the Kentucky Economic Development Corporation, concentrating on fostering economic progress within the state.

Overbrook Farm

In 1972, William Young founded Overbrook Farm near Lexington, Kentucky. The farm gained prominence in 1983 with the breeding of Storm Cat, a horse that became one of the highest-valued sires globally and played a central role in Young receiving the 1994 Eclipse Award for Outstanding Breeder.

Collaborating with trainer D. Wayne Lukas, Overbrook Farm celebrated victories including the 1994 Breeders' Cup Juvenile Fillies with Flanders and co-ownership of Timber Country, winner of that year's Breeders' Cup Juvenile. Overbrook also bred Tabasco Cat through a foal share agreement with David P. Reynolds, chairman of Reynolds Metals; Tabasco Cat secured wins at the 1994 Preakness and Belmont Stakes.

In 1996, Overbrook achieved success with homebred colt Grindstone winning the Kentucky Derby and Boston Harbor capturing a second Breeders' Cup Juvenile title for the farm. The farm's accomplishments continued in 1999 when Cat Thief won the Breeders' Cup Classic.

William Young contributed to the horse racing industry as a director for Breeders' Cup Limited. His daughter Lucy married distinguished French trainer François Boutin and continues to participate actively in racing.

On June 9, 2009, William Young Jr., who succeeded his father after his passing, announced plans to sell most of Overbrook’s bloodstock holdings. The farm divested its stallions and auctioned 48 yearlings for $6.64 million in September; later in November, it sold 148 horses for $31.76 million, including Honest Pursuit—a daughter of Storm Cat—who commanded $3.1 million from Wertheimer et Frère.

Philanthropy

William T. Young was deeply engaged in community leadership, supporting organizations such as the YMCA, Junior Achievement, Spindletop Research Institute, Red Cross, and various cancer fundraising initiatives. As a trustee of the University of Kentucky, he contributed $5 million personally and spearheaded fundraising efforts to establish the William T. Young Library, which bears his name. He also created a book endowment that was recognized as the largest of its kind nationwide at his death. In 1992, Young was inducted into the College of Engineering Hall of Distinction. His long-standing service on Transylvania University’s board of trustees began in 1967; he chaired it for 23 years and played an instrumental role in advancing the institution’s development.

In 1985, Young joined the board overseeing historic Shakertown near Lexington and became its chairman in 1990. Under his leadership, fundraising campaigns funded renovations that increased visitor attendance and established programs to secure financial sustainability for the village.

Throughout his lifetime, William Young donated more than $60 million to numerous philanthropic causes.

His wife, Lucy Hilton Maddox, died in 2002; William T. Young passed away in 2004. He was survived by his son William T. Young Jr., and daughter Lucy Young Hamilton.

External links

• W.T. Young 1919–2004
• UK Alumni William T. Young

References

• Bowen, Edward L. Legacies of the Turf: A Century of Great Thoroughbred Breeders (2003) Eclipse Press