Robert Spencer

Robert Spencer, the first Baron Spencer of Wormleighton, was born in a wealthy landowning family whose origins go back to Robert Despencer, steward to William the Conqueror (1028-1087), whose descendants were the favorites of Edward II (r. 1307-1327).

In 1603 Spencer was created a baron, and started to purchase land around Althorp and Wormleighton in Northampton, leasing other lands and converting most of the acreage into pasture for sheep in order to profit from a great demand for wool. He also had business interest in America and had obtained large tracts of land in Virginia. He was reputed to be the richest man in England during the initial rule of the king James I of England (r. 1603-1625)

Spencer's heirs continued to rise on the social scale. His son was made Earl of Sunderland in 1643, allegedly by bribing the king, and through marriage policy became connected with the Earl of Southampton.

Spencer died in 1627, and his estate is estimated to have been worth £500,000 or about £19bn in 2010 money.