His father was Colonel Richard Borden, who founded the Fall River Iron Works.

[2] His business career began in 1864, when he entered one of New York's leading dry goods house as a stock boy.

By 1867 he had become a partner in a New York commission house, where he represented the American Print Works as a selling agent.

He allied himself with the commission house of J. S. & E. Wright & Co. (later Bliss, Fabyan & Co.) with whom he maintained fruitful relations for many years.

In order to raise money for his textile business he regularly turned to his fellow Bonesman and roommate at Yale, John William Sterling.

He left an estate valued at over $5 million, about half of which was from his shares in the American Printing Company.

[3] In 1918, the United States Navy acquired another of Borden's luxury yachts, also called Sovereign (launched 1911).