It was created in 1937 for the Conservative politician Stanley Baldwin, who had served as MP for Bewdley from 1908 to 1937 and was Prime Minister of the United Kingdom three times (from 1923 to 1924, from 1924 to 1929 and from 1935 to 1937).

A somewhat controversial figure, the second Earl was a Labour Party Member of Parliament and for a time sat opposite his father in the House of Commons.

Oliver had no children, so on his death the title passed to his younger brother, Arthur, the third Earl.

[2] The peerage was held by Arthur's son, Edward, the fourth Earl, who succeeded in 1976.

Styled formally as Viscount Corvedale from 1976, he was educated at Bryanston School and Newcastle University, where he graduated B.Mus.