David Yule joined
Andrew Yule and Company, a conglomerate with diversified interests, which was founded by both his uncles,
Andrew Yule and
George Yule. The principal business of the company was the export of
jute fiber. Over time the Yules became progressively integrated in India from plantation to textile mills. His uncle George died childless in 1892. His uncle Andrew had a daughter,
Annie Henrietta, whom David
married in 1900. Andrew died in 1902 and at this point, the entire Yule conglomerate came under David's control. In 1919, David Yule and
Thomas Catto, 1st Baron Catto formed Yule Catto and Company Ltd, which is now known as
Synthomer and is listed on the
London Stock Exchange. Among his other business interests were directorships of
Midland Bank,
Mercantile Bank of India,
Vickers Limited, the
Royal Exchange Assurance Company and ownership of the
Daily Chronicle newspaper, which he purchased from
Lloyd George. David Yule was
knighted by
King George V in India on 4 January 1912 and was created a
baronet, of
Hugli River in
Calcutta, on 30 January 1922. He died on 3 July 1928. His baronetcy lapsed at his death for lack of an eligible heir.
The New York Times reported that his wife inherited $100,000,000 on his death, equivalent to $1.6 billion in 2022 money. ==Personal life==