Joseph Peter Grace Sr. (June 9 1872 – July 15 1950) was an American businessman, polo player, and owner of thoroughbred horses involved in steeplechase racing. He served as president of the chemical conglomerate W. R. Grace and Company from 1907 to 1946 and was active in a range of philanthropic and corporate activities.
Early life and education
Grace was born in Great Neck, New York, the son of William Russell Grace—who served twice as mayor of New York City—and Lillius Gilchrist. He attended Columbia University, graduating before entering the family business.
Business career
After the death of his father in 1904, Grace joined W. R. Grace and Company, a firm founded by his father that operated in chemicals, shipping, and banking with a focus on South American markets. In 1907 he succeeded Edward Eyre as president of the company and became chairman in 1929 when Iglehart was appointed president. Under his leadership the firm expanded its international reach, establishing Grace National Bank in New York City (1914) to support South American trade and co‑founding Grace Shipping Company.
In 1929 Grace partnered with Pan American World Airways to create Pan American‑Grace Airways, the first airline to serve the West Coast of South America. He retired from active management in 1946 after a stroke in 1945, and his son, Joseph Peter Grace Jr., succeeded him at the company.
Equestrian and sporting interests
A keen polo player, Grace purchased a 198‑acre estate on Long Island in 1911, where he maintained stables of polo ponies and thoroughbreds used in point‑to‑point steeplechase events. He was noted for his involvement in American horse racing circles.
Philanthropy and affiliations
Grace was a devout Roman Catholic and a member of the Sovereign Military Order of Malta. He served as president of the Grace Institute, a charitable organization founded by his father and uncle that provided tuition‑free business education to economically disadvantaged women.
Personal life
In 1908 Grace married Janet MacDonald, daughter of Charles B. Macdonald, a prominent figure in early American golf. The couple had three children, including Peter (later J. Peter Grace) and Michael P. Grace II. Grace died in his hometown of Great Neck, New York, at the age of 78.