Ryan Murphy‘s new Netflix show Monster: The Lizzie Borden Story looks at the 1892 murders of Andrew and his wife, Abby, and the daughter who was accused of killing them. While the series focuses heavily on Lizzie and the question of whether she really committed the murders, Andrew’s wealth and the family’s complicated relationship with money are also an important part of the story.

So, how much was Andrew Borden worth, where did all that money come from, and what exactly did he do with his fortune?

Andrew Borden built his wealth through business and property

A report from the 1893 trial states that it was agreed Andrew Borden had died intestate, meaning without leaving a will, and that his property was estimated at between $200,000 and $300,000. The Borden trial report There are also modern estimates that put the value of his estate at around $300,000, with some sources translating that into several million dollars in today’s money.

Andrew Borden wasn’t born into the kind of wealth he would eventually have. According to the Borden trial biographies, he began as a carpenter’s helper before eventually becoming a partner in a casket company.

He then invested in property and built up his wealth through business. By the time of his death, he had interests across several parts of Fall River’s business community. The Smithsonian’s account of the Borden case notes that Andrew had invested in mills, banks and real estate, while the trial biographies say he was president of a major bank, owned substantial property and was a director of three major cloth mills.

Contemporary reporting from the Borden trial also described him as someone who “owned a great deal of real estate” and was president of a savings bank, alongside his other interests.

Real estate was a major part of Andrew’s wealth

Rather than simply keeping his money in the bank, he bought properties around Fall River and collected rent from tenants. In fact, Lizzie herself gave evidence about some of the property he owned during her inquest testimony. She mentioned two farms in Swansea, the family’s Second Street home, the A. J. Borden Building and other property.

This also explains why he was out and about in the city so often.

On the morning he was killed, Andrew had been downtown dealing with his business affairs before returning home shortly after 10:30 am. It was reported that he had gone into town “looking after his affairs” that morning.

His property interests were also important because they became part of the wider family dispute over money.

He wasn’t exactly known for spending it

Despite having a substantial fortune, Andrew Borden had a reputation for being extremely frugal. The Smithsonian describes him as “notoriously frugal” and says his reluctance to spend money contributed to tensions within the family.

He and his family lived on Second Street rather than in Fall River’s more fashionable Hill neighbourhood, despite having the money to live somewhere more prestigious.

That became particularly important to Lizzie and Emma. Lizzie wanted to live on the Hill and knew her father could afford to move the family there.

Andrew’s relationship with his daughters had already become strained over money and property. In 1887, he quietly bought a house for his second wife’s half-sister. Lizzie and Emma saw this as taking away from the inheritance they expected to receive.

Andrew eventually bought properties for his daughters too, but the disagreement didn’t simply disappear. By the time of the murders in 1892, money and inheritance had become one of the theories surrounding a possible motive.

Lizzie and Emma stood to inherit an estate worth around $7 million in today’s money.

So, what happened to the money after Andrew died?

Because Andrew died without a will, his estate became part of the legal and financial aftermath of the murders. Trial report records that he died intestate.

After the trial, Lizzie and Emma moved into a much larger Victorian house on the Hill, which Lizzie named Maplecroft. The sisters moved there two months after Lizzie’s acquittal.

Lizzie later lived a relatively comfortable life. She travelled to places including Boston, New York and Washington, D.C., and attending the theatre.

So Andrew’s fortune helped provide the financial security that Lizzie and Emma had been fighting over for years.