George F. Baker in the 1920s was one of the richest men in America—with a fortune estimated at between $100 million and $300 million—although he always asserted that he was not "a twentieth as rich" as people thought he was.

Born in Troy, New York, he worked as a clerk in Albany from 1856 to 1863, at which point he moved to New York City and became an original shareholder of the newly organized First National Bank of New York, which subsequently became a cornerstone of a business empire that comprised banks, railroads, and other enterprises. The bank, of which Baker became president in 1877, exerted a conservative and steadying influence on the U.S. economy in the late 19th and early 20th centuries.

As his personal fortune grew, Baker became an increasingly visible philanthropist. In 1916, he gave a group of residence halls to Cornell. Three years later, he gave Cornell a new chemistry laboratory, and in 1920, purchased the Manhattan acreage needed for Columbia's new football stadium. In the wake of these latter two gifts, he had the unique experience—while attending the Cornell-Columbia football game at the new site—of having both sides of the stadium stand up and cheer him.

As a rule, however, Baker shunned publicity. He was personally shy, but also believed that business people had no place in the limelight. In 1923, in response to a plea from a young reporter—who had been promised a job if she would obtain an interview with the reclusive banker—he granted the second interview of his life.

"Business men of America should reduce their talk two-thirds," he told the reporter. "Everyone should reduce their talk. There is rarely ever a reason good enough for anyone to talk."

He paused, and then added, "Those are the first words I have spoken to a newspaper reporter since 1863."