William T. Young
| William T. Young | |
|---|---|
| Born |
February 15, 1918 Lexington, Kentucky, United States |
| Died | January 12, 2004 (aged 85) Gulf Stream, Florida, United States |
| Cause of death | Heart Attack |
| Education | University of Kentucky |
| Political party | Democratic |
| Board member of | W. T. Young Foods, Inc., Royal Crown Cola, Kentucky Fried Chicken, Kentucky-American Water Company, First Security National Bank and Trust Co. of Lexington, Transylvania University, Shakertown historic village, Breeders' Cup Limited |
| Spouse(s) | Lucy Hilton Maddox |
| Children | 1) William Jr., 2) Lucy |
| Parent(s) | Willis S. Young & Margaret Thompson |
| Awards |
Eclipse Award for Outstanding Breeder (1994) TOBA Breeder of the Year (1999) |
William T. Young (February 15, 1918 – January 12, 2004) was an American businessman and major owner of thoroughbred racehorses.
William T. Young attended the University of Kentucky where he was a member of the Sigma Alpha Epsilon fraternity. Young graduated with high distinction in 1939 with a Bachelor of Science in mechanical engineering. After a short employment with Bailey Meter in Cleveland, Ohio, he served as a captain in the United States Army from 1941 to 1945.
After the War he was living in Philadelphia but in 1946 returned to his native Lexington where he founded W. T. Young Foods, Inc. that made "Big Top" brand peanut butter. He developed the business into one of the leading producers of peanut butter in the United States. After he sold the company to Procter & Gamble in 1955, it was renamed Jif peanut butter. William Young continued to manage the peanut butter manufacturing operation for Procter & Gamble until 1957, at which time he founded W. T. Young Storage, Inc.
William Young joined the board of directors of Royal Crown Cola and served as its chairman from 1966 to 1984. He was also a director the Kentucky-American Water Company, and the First Security National Bank and Trust Company of Lexington. At one time, William Young was the single largest shareholder of Humana health insurance company. Through the 1960s and early 1970s, he served on the board of directors of Kentucky Fried Chicken with CEO John Y. Brown, Jr. When Brown was elected governor of Kentucky in December 1979, he chose Young as chairman of the executive cabinet. Young also served as chairman of the Kentucky Economic Development Corporation, a private organization aimed at boosting economic development in the state.
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