Macy was born into a philanthropic family. After leaving the family home in
Nantucket, Massachusetts, where his family had settled during the early 17th century, the elder Josiah W. Macy established a shipping and commission firm in
New York City, Josiah Macy & Sons. The Macy family eventually opened one of the first
oil refineries in New York, which was later acquired by
John D. Rockefeller's much larger
Standard Oil Company. Following the acquisition, Josiah Macy Jr. became a high-level executive in Standard Oil and an original
shareholder in the company. Holding thousands of Standard Oil shares, he became an immensely wealthy individual and a well-known philanthropist. Macy's eldest daughter Mary K. Macy (later Willets), born in 1860, died in 1893. His daughter
Catherine "Kate" Everit Macy (1863–1945) continued the Macy family's philanthropic habits throughout her entire life, and by the time of her death in 1945, the
Josiah Macy, Jr. Foundation had received about $19 million from her and her estate. Macy's son
V. Everit Macy (1871–1930) was a prominent statesman in
Westchester County, New York, and a benefactor of
Teachers College, Columbia University. Macy's wife, Caroline Louisa Everett, lived from December 1838 to December 31, 1898. Josiah W. Macy Jr. died from
typhoid fever at his estate in
Harrison, New York on October 5, 1876. Upon his death, his thirteen-year-old daughter Kate inherited $15 million, while his five-year-old son V. Everit inherited over $20 million. Josiah W. Macy Jr.'s grand mansion, Greystone Castle, was located on historical
Millionaires' Row near
Irvington, in New York's
Westchester County. It burned to the ground in 1976, and the site was later redeveloped into the Greystone-on-Hudson luxury community. He also owned Sunnyridge Farm in
Harrison, New York. == Josiah Macy Jr. Foundation ==