August Belmont IV

Who was August Belmont IV?

August Belmont IV was an American Investment banker and Thoroughbred racehorse owner. The son of August Belmont III and Alice W. de Goicouria, he was a fourth generation banker and racehorse owner.

While a nineteen-year-old student, August Belmont IV inherited Belcourt Castle in Newport, Rhode Island from his uncle, Oliver Belmont. However, he did not keep the property and it was transfrered to another uncle, Perry Belmont. A graduate of Harvard University, in 1931 August Belmont IV went to work for the securities firm of Bonbright & Co. and remained in the industry for the rest of his working life. In the latter part of the 1940s he was hired by close friend Douglas Dillon to work for Dillon, Read & Co. Belmont became a partner in the investment banking firm and served as its president from 1962 until his retirement in 1971.

August Belmont IV first married in 1931 to Elizabeth Lee Saltonstall of Boston with whom he had four children. Divorced, in 1946 he married Mrs. Louise Vietor Winston.