William Halsey was born in 1885, in the small town of New Hill, Virginia. He was raised in a family that included nine children. After attending Princeton University, he took a job at the National Cash Register Company in Dayton, Ohio. Here he met his future wife, Dorothy Smith
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They were married in 1905 and had two sons. When Halsey became involved with the American Tobacco Company in Richmond, his wife was diagnosed with tuberculosis. By 1920 she had recovered, which meant that Halsey could take active leadership in the company.
In 1921 he was promoted to president of the American Tobacco Company and served until 1927 when he retired from active management. His health began to fail in 1933 and he died on January 25, 1945.