Hyde was appointed a vice president of The Equitable after graduating from college. In addition, he served on the boards of directors of more than 40 other companies, including the
Wabash Railroad and
Western Union. By the terms of his father's will, he was scheduled to assume the presidency of the company in 1906. Members of the board of directors, including
E. H. Harriman,
Henry Clay Frick,
J.P. Morgan, and company President James Waddell Alexander attempted to wrest control from Hyde through a variety of means, including an unsuccessful attempt to have him appointed as
Ambassador to France. On the last night of January 1905, Hyde hosted a highly publicized
Versailles-themed
costume ball. Falsely accused through a coordinated
smear campaign initiated by his opponents at The Equitable of charging the $200,000 party ($ today) to the company, Hyde soon found himself drawn into a
maelstrom of allegations of his
corporate malfeasance. The allegations almost caused a
Wall Street panic, and eventually led to a
state investigation of
New York's entire insurance industry, which resulted in laws to regulate activities between insurance companies, banks and other corporations. Hyde's personal net worth in 1905 was about $20 million ($ today). After the negative press generated by the efforts to remove him from The Equitable, Hyde resigned from the company later that same year, gave up most of his other business activities, and moved to
France. There were published rumors that he would marry French actress
Yvonne Garrick in 1906.
World War I At the start of
World War I, Hyde converted his home and a
Paris rental property into French Red Cross hospitals, and he volunteered his services as an organizer and driver with the
American Field Ambulance Service. When the United States entered the war Hyde was commissioned as a
Captain and assigned as an aide to
Grayson Murphy, the High Commissioner of the American Red Cross in France.
Later life s, c. 1775, donated by Hyde to the
Cooper Hewitt, Smithsonian Design Museum; figures represent (from left) Asia, Europe, Africa, and America. In 1941 Hyde returned from France as the result of
Nazi Germany's occupation of France during
World War II. In retirement he resided at the
Savoy-Plaza Hotel in New York City and hotels in
Saratoga Springs, New York. ==Personal life==