In the modern world it is often said that the accumulation of knowledge is everything.  That to get on in life, to be a success in any chosen field, one needs a good education.  As a general rule that is an accurate statement; but history has repeatedly illustrated that this not always the case.  That there will always be someone, somewhere, with little or no academic skills, who will prove that the opposite can also be true.  Such was the example set by the most unlikely 18th century entrepreneur and self-made millionaire – Timothy Dexter.

Dexter was born in 1747, the son of a poor family in Malden, Massachusetts.  Barely able to read or write, his first job at the tender age of eight was that of a farm labourer.  From this, a few years later, he moved on to become apprenticed in the leather trade.  Sadly, he was regarded by everyone who knew him as an idiot, written off as someone who would never amount to anything; but the ‘simple’ Timothy Dexter was to prove them all wrong in a way they would never forget.

His first stroke of luck came when he married a widow by the name of Elizabeth Frothingham.  She owned property and was wealthy, which enabled the young Timothy to go into business on his own.

The American War of Independence was at an end, with the result that there was a considerable amount of European currency in circulation that had little or no value. Dexter saw a market opportunity and, taking a high-risk gamble, bought as much of it as he could at a bargain price.  

Those around him were quick to re-affirm what an absolute fool he was.

However, as history would show, those very same people would be made to eat their words.  When stability returned to the country and international trading started once more, the currency that Dexter had purchased settled back to its original value – he had made an absolute fortune.

Not one to squander his new-found wealth, he bought two ships and began trading.