In 1941, Time magazine ranked her the world's second-best dressed woman, following Wallis Simpson and preceding Aimée de Heeren.

[10] Babe and William Paley maintained an apartment at the St. Regis, which was adorned by the interior design expertise of Billy Baldwin.

[11] In 1957, they acquired Kiluna North, a retreat on Squam Lake in New Hampshire, which afforded them privacy and played host to numerous celebrities.

[12] Despite encountering social exclusions and discriminatory practices due to prevalent anti-Semitic prejudices against her husband, the Paleys cultivated a circle of high-society friends that included author Truman Capote and fellow socialite Slim Keith.

Capote included Paley and Keith in his group of "swans," comprising New York socialites such as Gloria Guinness, Marella Agnelli, and C.Z.

Guest[13] Paley severed her friendship with Capote when he published excerpts from Answered Prayers, his tell-all about New York's elite.

A photograph of Paley with a scarf tied to her handbag, for example, created a trendy tidal wave that millions of women emulated.

She often mixed extravagant jewelry by Fulco di Verdura and Jean Schlumberger with costume pieces and embraced letting her hair go gray instead of using dye.

[citation needed] Paley's distinctive style earned her a place on the best-dressed list a remarkable fourteen times before her induction into the Fashion Hall of Fame in 1958.

She allocated her jewelry collection and personal belongings to friends and family, wrapping them in colorful paper and creating a comprehensive file system with instructions for their distribution after her death.