Marjorie Merriweather Post, the heiress to the Postum Cereal Company fortune who built it into General Foods Corporation, died today at her Washington estate at age 86. The businesswoman and philanthropist, whose wealth allowed her to entertain lavishly and live regally, had been ill for some time.

Born in 1887, Mrs. Post inherited the company when her father died in 1914. She and her second husband, Edward F. Hutton, expanded the business through mergers, adding brands like Jell-O and Maxwell House Coffee. By 1929, the company had become General Foods Corporation, with Mrs. Post serving as director until 1958 and remaining the principal stockholder.

Beyond her business success, which made her one of the world's wealthiest women with a fortune estimated at over $200 million, Mrs. Post was known for her generous philanthropy and lavish lifestyle. She entertained royalty and world leaders at her multiple estates, including Mar-a-Lago in Palm Beach, which she later donated to the U.S. government. Her Washington home, Hillwood, has been willed to the Smithsonian Institution.