Newhouse was born in New York City to European Jewish immigrant parents, and later studied and practiced law in Pennsylvania.

While they ran a hotel in Leadville, Samuel acquired mining properties in Ouray, Colorado.

[3] He later sold these for several million dollars and moved to Denver, where he became a speculator and promoter, with extensive contacts back East and in Europe.

[3] He preferred living in Salt Lake City, where he developed a large tract of downtown, trying to shift the center of town four blocks south from Temple Square.

[2] At one time he owned the lot where the future Flatiron Building in New York City would be located.