He inherited a vast estate from his father and expanded his holdings, pioneering new territory in the Canebrake region of Alabama.

Tayloe was born on January 29, 1799, at Mount Airy, Richmond County, Virginia, the grand colonial estate built by his grandfather Colonel John Tayloe II and then the current residence of his father Colonel John Tayloe III, arguably the wealthiest plantation owner in the country.

[1] After inheriting Mount Airy, Richmond County, Virginia from his father Colonel John Tayloe III, William, through his brother Henry Augustine Tayloe, began acquiring and speculating in land in the Canebrake, founding with his brothers Benjamin Ogle Tayloe and George Plater Tayloe, Faunsdale Plantation and co-owning Adventure Plantation Marengo County, Alabama, later part of Cuba Plantation, Larkin Plantation (Perry County, Alabama) and Oakland Plantation (Marengo County, Alabama).

[2][3][4] After the American Civil War, Tayloe held the mortgage on Belair Mansion (Bowie, Maryland), the home of Dr. George C Ogle (1817 - 1899), son of Benjamin Ogle II and Anna Maria Cooke.

[5] The property was sold to the executors of the estate of the mortgage holder William H Tayloe, on May 16, 1871.