Coldplay concert CEO cuddling scandal engulfs old money Boston family with ties to JFK
Kristin Cabot, 52, is married to Privateer Rum owner Andrew Cabot, who is a direct descendent of one of the original Boston Brahmin families.
The term 'Boston Brahmin' refers to the historic aristocracy in Boston, dating back to the the earliest English colonists. These ultra-wealthy families held significant social, political and cultural influence from the 18th century onward.
Andrew, 60, touts his family lineage on the Privateer Rum website, highlighting how he is the sixth-generation owner of the brand and a direct descender of its founder Andrew Cabot, whom he appears to have been named after.
But Andrew and his illustrious lineage have now faced a global scandal that's hit like a bolt from the blue after Kristin was caught on kiss cam being cuddled by her colleague Andy Byron at a Coldplay concert in Boston last week.
The pair, who recoiled on seeing themselves on the big screen, met at AI startup Astronomy. Byron resigned as its CEO last week.
He's also married to a woman called Meredith with the couple owning a sprawling Massachusetts mansion.
The Cabot Family, which first made its fortune in soot, dates back at least 10 generations and is involved in a slew of businesses across New England, including rum production.
The family is one of the richest in Boston, with a fortune worth at least $15.4 billion today, and was considered untouchable for decades until their dynasty was underscored by political rise of John F. Kennedy.
JFK defeated Henry Cabot Lodge Jr. in a senate race in 1952, paving the path for the Kennedys to establish themselves as American royalty.
But despite the Kennedys emergence to power, the Cabots are still so well-known in the Boston area that locals jokingly claim they 'speak only to God'.
Massachusetts property documents dated in January confirmed that Kristin is currently married to Andrew, the chief executive of Privateer Rum, a Massachusetts-based booze maker.
It is unclear exactly when the pair tied the knot, but the documents confirm that Kristin, whose maiden name is Stanek, was married at the time of selling a $1.8 million property in Watertown, Mass, earlier this year.
The Cabot family legacy dates back to the American Revolution when the original Andrew Cabot, who died in 1791, positioned himself as a successful merchant and rum distiller.
Family patriarch Samuel Cabot Jr. helped propel the family into riches by marrying Eliza Perkins, the eldest daughter of wealthy merchant trader Col. Thomas Handasyd Perkins, in 1812, historical records reveal.
The couple fathered seven sons whose descendants would go on to led successful businesses of their own, including co-founding America's first mutual fund.
The family - whose name is now in the mud thanks to the Coldplay concert scandal - found riches in soot, which is an essential component in automobile tires.
Members of the Cabot family participated in the slave and opium trades during the early 19th century.
Cabot family members also served in a series of professions including medicine, law, finance, teaching and the Foreign Service.
The Cabots bestowed donations and established endowments at some of America's most elite academic institutions, including Harvard University, the Massachusetts Institute of Technology, Norwich University and the Perkins School for the blind.
The family fortune was worth an estimated $200 million in 1972, according to a New York Times profile on the Cabots written at the time.
The $200 million fortune, not accounting for growth over the decades, is worth an estimated $15.4 billion in 2025.
The Cabots, now embroiled in scandal, were so wealthy that they were characterized in John Collins Bossidy's 1910 poem 'Boston Toast' as only speaking to god.
'This is good old Boston, the home of the bean and the cod,' the poet wrote. 'Where the Lowells talk to the Cabots, and the Cabots talk only to God.'
The Lowells were another Boston Brahmin family who played a significant role in the American revolution and the US manufacturing industry.
The Cabots took over Boston and were seemingly untouchable until the rise of the Kennedys, which resulted in a political and societal rivalry.
President elect Richard M. Nixon (c) confers with Henry Cabot Lodge Jr (l), his chief Vietnam peace negotiator, and Lawrence E. Walsh, the former Deputy Attorney General designated by Nixon as the No. 2 man at the Paris negotiations in January 1969
Senator Henry Cabot Lodge, who resigned from his seat to fight in the Second World War, was an influential Republican.
Lodge, who regained his Senate seat in 1947, was a 'committed internationalist' and resisted isolationism, American Magazine reports.
He poised Eisenhower to be the Republican presidential candidate in 1952, but his dedication to Eisenhower's campaign saw him lose his seat to Democrat JFK.
Kennedy lodged his family's growing financial and political successes to snag the seat, which had long been under Cabot control, according to Old Money Luxury.
JFK lobbied support among Irish Catholics and other immigrant groups, who likely did not feel represented by Lodge, an old money Protestant.
The Democrat also leveraged emerging media during his campaign, presenting himself as a likable leader with his immigrant heritage inspiring many that they too could find success in the American Dream.
Lodge then spent most of the 1950s as the US Ambassador to the United Nations and was a the Republican vice presidential candidate in 1960.
JFK, during his presidency, tapped Lodge to take over operations in South Vietnam - despite the pair being from different political parties.
Lodge is believed to have been involved in the death of Ngo Dinh Diem, president of South Vietnam.
His alleged role in Diem's death was arguably one of the most controversial moments on his political career, but did not stop his from later serving as President Lyndon B. Johnson's ambassador to West Germany.
He also served a personal representative of Presidents Richard Nixon and Gerald Ford to the Holy See in Rome.
The family has been thrust into controversy yet again after Kristin was caught cuddling with her boss Andy Byron, CEO of AI firm Astronomer.
In the viral moment, the two were seen enjoying the show when the camera operator working the jumbotron panned to them.
Byron had his arms wrapped around Kristin and the pair swayed in unison as the British band played.
The intimate moment descended into chaos as panic set in, Byron seemingly fell to his knees while Kristin put her head in her hands as the crowd laughed.
After the clip of the two went viral, Astronomer issued a statement confirming that Byron has been placed on leave as they investigate the incident.
The Friday night statement said: 'Cofounder and Chief Product Officer Pete DeJoy is currently serving as interim CEO given Andy Byron has been placed on leave. We will share more details as appropriate in the coming days.'
Prior to the announcement that Byron was on leave, the company had announced that a formal investigation into the clip was underway.
Kristin is married to Andrew Cabot, who is listed on Privateer Rum's website lists as its CEO and COO of the company.
Public documents show that Andrew has been married at least twice before, in 1993 and 2014.
He shares two children with his first wife Maud, who shared a picture of her ex-husband with Kristin looking loved up at his daughters 25th birthday party on social media in April of last year.
Kristin even posed with his son Henry, 30, in the snaps, and was seen wearing a wedding ring at the event - which was missing during her cozy Coldplay date with Byron.
Kristin and Andrew are also referred to as 'husband and wife' in New Hampshire property records, buying a $2.2million two-story, four-bedroom New Englander-style house in Rye, in February.
They sold another four-bedroom property nearby for $1.05m in February, after purchasing it in April of last year.
Andrew filed for divorce from his second wife Julie in 2018, after marrying in 2014, citing irreconcilable differences. Both he and his first wife Maud filed for divorce jointly in 2013, after separating in 2011.
Kristin has been married once before, filing for divorce from Ken Thornby in 2018, which was finalized in 2020.
Byron is also married, with his wife Megan, removing his last name from her social media accounts shortly after the concert exchange went viral.
Kristin's now-deleted LinkedIn account showed that she has served as an 'advisory board member' at Privateer Rum since September 2020.
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- Reuters
Insurer Chubb's second-quarter profit rises on strong underwriting business, investment income
July 22 (Reuters) - Insurance company Chubb reported a rise in second-quarter profit on Tuesday, helped by improved underwriting performance and investment returns. Macroeconomic volatility and the unpredictable impact of severe weather events, particularly wildfires and hurricanes, have sustained demand for risk mitigation offered by insurance products. Stronger underwriting reflects an insurer's ability to price risk effectively, bolstering profits despite higher claims. The insurer's net investment income surged 6.8% to a record $1.57 billion during the reported quarter. Chubb's global P&C (property and casualty) net premiums written, excluding agriculture, increased 5.8% to $11.66 billion for the three months ended June 30. "We produced a record $2.5 billion in core operating income, up nearly 13% from a year ago, with operating EPS up 14%, driven by record underwriting and strong investment income, and double-digit growth in life income," Chubb CEO Evan Greenberg said. Last week, industry bellwether Travelers (TRV.N), opens new tab exceeded Wall Street profit estimates, also benefiting from effective underwriting and portfolio management. Chubb reported a property and casualty combined ratio of 85.6%, compared to 86.8% a year earlier. A ratio below 100% indicates the insurer earned more in premiums than it paid out in claims. The company's core operating income, net of tax, rose to $2.48 billion, or $6.14 per share, in the quarter, compared with $2.20 billion, or $5.38 per share, a year earlier.
