Samuel Fludyer

Born in a family of clothier, Samuel was trained in the wool textile trade. After completing an apprenticeship, he formed a partnership with his brother Thomas. They acted as wholesalers and also received woolen cloth on consignment from manufacturers which they sold throughout England and in America. Eventually the Fludyers became the dominant force in the British wool trade.

Since they had a strong credibility, they began to exert control over the production process, they ordered from the manufacturer specific kinds of cloth at specified prices, and contracted directly with dyers instead of selling white cloth which customers would later give to be dyed. It was an innovative business practice that brought them a substantial profit. By 1760 they opened a business in Yorkshire, which was another key area of woolen production along with West Country.

Fludyer served as director of the Bank of England, the central financial institution, and was its deputy governor from 1766 to 1768. He was also appointed a London alderman, and served as a Lord Mayor of London, the highest positions for the members of business elite. He also participated in the work of the House of Commons, and used his position in Parliament to support his lucrative work as a government contractor during the Seven Years’ War.

In 1755, Fludyer was knighted, and in 1759 he was made a baronet with a seat at Lee in Kent County. At time of his death, his assets were estimated at £900,000, the equivalent of £6.2bn in 2010.