Joshua Seney Cosden (1881-1940)
Joshua S. Cosden, "the Prince of Petroleum"
He was born in Kent County, Maryland, and started life in Baltimore as a clerk in a drug store. Seeking his fortune, he went to Bigheart, Oklahoma, where he opened a small oil refinery which he ran with his first wife, Ottilie. In 1913, their success saw them move to Tulsa where he built what was then the largest independent oil refinery in the world and the 16-story Cosden Building downtown. By 1918, he was worth $50 million and that same year married his neighbor's wife, Nell, the former Mrs Charles Roseser, and headed to New York City to enjoy their wealth. He took a proprietary lease on a 3-story apartment at 450 East 52nd Street; built Playa Riente, the largest mansion on Palm Beach; bought estates in Newport and on Long Island; stocked their stables with the finest thoroughbreds; and, travelled in their own private railroad car and yacht.
The "brains, charm and graciousness" of Josh and Nell Cosden saw them ascend New York's social scene with a rapidity that outstripped even the few short years it had taken Josh to make his money. Their reputation among America's aristocracy was cemented in 1924 when the Prince of Wales dined with not just once, but on several occasions with them at Long Island. During one of these dinners, headlines were made when a thief slipped into their home and made off with $150,000 of jewellery belonging to Nell and some less expensive gems valued between $2k and $20k belonging to another of their guests, the "man-eater" Lady Mountbatten. This was to be the peak of their ascendency. Just seven years after coming to New York, Josh lost the lot through a combination of extravagance, taking his eye off the ball and dabbling unsuccessfully on Wall Street.
His 310-acre estate on Long Island was sold for $1.5 million to Vincent Astor and Playa Riente that had cost him $1.8 million to build was purchased by Mrs Anna Dodge. Despite his downfall, "Game Josh" maintained the confidence of his peers and by 1928 he was up again by $15 million after successfully drilling for oil in Texas, but by 1931 the Great Depression had tanked him once again. His death was reported to be from a heart attack on a train between El Paso and Palm Springs while trying to make a third fortune. But, according to the Oklahoma Daily what were reputed to be all his remaining assets were sold at auction a week before his death was reported. He was survived by Nell and his 3-children by his first wife. His son, Joshua Jr., was the 5th husband of Zsa Zsa Gabor.
The "brains, charm and graciousness" of Josh and Nell Cosden saw them ascend New York's social scene with a rapidity that outstripped even the few short years it had taken Josh to make his money. Their reputation among America's aristocracy was cemented in 1924 when the Prince of Wales dined with not just once, but on several occasions with them at Long Island. During one of these dinners, headlines were made when a thief slipped into their home and made off with $150,000 of jewellery belonging to Nell and some less expensive gems valued between $2k and $20k belonging to another of their guests, the "man-eater" Lady Mountbatten. This was to be the peak of their ascendency. Just seven years after coming to New York, Josh lost the lot through a combination of extravagance, taking his eye off the ball and dabbling unsuccessfully on Wall Street.
His 310-acre estate on Long Island was sold for $1.5 million to Vincent Astor and Playa Riente that had cost him $1.8 million to build was purchased by Mrs Anna Dodge. Despite his downfall, "Game Josh" maintained the confidence of his peers and by 1928 he was up again by $15 million after successfully drilling for oil in Texas, but by 1931 the Great Depression had tanked him once again. His death was reported to be from a heart attack on a train between El Paso and Palm Springs while trying to make a third fortune. But, according to the Oklahoma Daily what were reputed to be all his remaining assets were sold at auction a week before his death was reported. He was survived by Nell and his 3-children by his first wife. His son, Joshua Jr., was the 5th husband of Zsa Zsa Gabor.
