Macarthur, Elizabeth (1766-1850), was an Australian businesswoman during the early British settlement of New South Wales. She successfully managed her husband’s wool business at a key moment in the colony’s economic development. She was one of the first educated women to voluntarily relocate from England to Australia. 
Elizabeth Veale was born on Aug. 14, 1766, in Devon, England. She was well-educated as a child. After her father died and her mother remarried, Veale was raised by her grandfather. In 1788, she married the British soldier John Macarthur. 
Macarthur quickly became popular within New South Wales society. Her intelligence and manners made her stand out at gatherings. The couple socialized with many members of the colonial government. This included Arthur Phillip, the first governor of New South Wales. From 1792 to 1808, the Macarthurs had seven more children. John Macarthur received a land grant of 100 acres (40 hectares) in 1793, which he used to build a house and farm. He named the estate Elizabeth Farm after his wife. On the farm, she educated the children and managed the household. John Macarthur expanded the farm into a large livestock operation, which he eventually concentrated on wool production.
With John Macarthur’s encouragement, fine wool became one of New South Wales’s most valuable exports. However, he was forced to return to England in 1801 to face trial after wounding an officer in a duel. While her husband’s business partners administered the company’s trade operations, Elizabeth was responsible for the sheep and the family estates. She also supervised the convict laborers. John Macarthur returned in 1805 to find the business thriving due to his wife’s careful management and record-keeping. Elizabeth Macarthur went back to managing the family’s business affairs in 1809, when her husband was once again forced to leave Australia for England. From 1809 to 1817, she traveled all over the colony to supervise their various estates.
Macarthur turned the wool business back over to her husband when he returned to Australia in 1817. But she continued to wield influence in the company. During the 1820’s, John Macarthur suffered from mental illness. At his insistence, Elizabeth left the farm and lived with her daughter Mary. Macarthur returned to the family estate after her husband’s passing in 1834. She died on Feb. 9, 1850.
