Born in Vermont in 1821,[2] Hayward moved to Canton, New York, early in his life.

[2] He studied law in New York State, but also pursued lumber and lead mining interests in Michigan.

His experience in Michigan vein mining proved invaluable after his move to California during the Gold Rush.

[8] Hayward was part of a group of men that helped San Francisco's Lone Mountain Cemetery became the Laurel Hill Cemetery around 1867 with the filing of the articles of incorporation, others in the group including William Chapman Ralston, John Parrott, Henry Huntly Haight, Nicholas Luning, James Otis, Henry Mayo Newhall, and C. C.

[9] Hayward was often called California's "first millionaire,"[10] and in his lifetime was frequently referred to as “the richest man in California.” Grandiose and eccentric by turns, Hayward turned even more strongly to Spiritualism and the occult in his later years, using mediums to predict business investments (with poor results).

[1] Hayward is buried in Cypress Lawn Memorial Park in Colma, California.

[3] Only two of the couple's eight children survived to adulthood; six others died of mysterious respiratory ailments early in life, prompting recent speculation that Charity Hayward may have had a role in their demise.