The firm was founded by his grandfather William R. Grace, the first Roman Catholic to be elected Mayor of New York City.

His maternal grandfather was Charles B. Macdonald, a major figure in early American golf who built the first 18-hole course in the United States.

[4] As the president and chief executive officer of W.R. Grace, the company went through a massive diversification transformation.

Adding to the diversification strategy was the acquisition of restaurants, sporting good stores, and auto parts companies.

[13] However, his mother, Janet MacDonald, was Presbyterian while his father, J. Peter Grace Sr., was Roman Catholic.

[16] During the Kennedy administration, J. Peter Grace was head of the Commerce Department Committee on the Alliance for Progress.

And I didn't want to ruin your appetites, so I waited till now to tell you this, but during the hour we're together here eating and talking, the Government has spent $83 million.