Astor Library him as president. After two years, in 1891, Thomas M. Markoe was chosen to the office, which he held until the 1895 consolidation. John Jacob Astor III, son of William B. and grandson of John Jacob Astor, died in 1890, having served as trustee since 1858 and as treasurer since 1868. By his will, $400,000 was left to the library. As William Waldorf Astor declined to fill the vacancy, the board ceased to have an Astor on it. At the time of consolidation the trustees, in order of seniority, were Markoe, Henry Drisler, John Lambert Cadwalader, Henry C. Potter, Stephen
William Waldorf Astor in the United States. In 1882, President Chester A. Arthur appointed Astor Minister to Italy, a post he held until 1885. He told Astor, "Go and enjoy yourself, my dear boy." While living in Rome, Astor developed a lifelong passion for art and sculpture. Upon the death of his father in February 1890, Astor inherited a personal fortune that made him the richest man in America. That year, he initiated construction of the luxurious Waldorf Hotel, being built on the site of his former residence. His cousin and rival Colonel John Jacob "Jack" Astor IV (1864–1912) built the adjoining Astoria