Billy Wallace (socialite)
By August 1946, all four of Wallace’s servicemen brothers had died either in action or due to incidents associated with World War II, leaving him the sole heir to the family’s fortune.In 1945, his mother remarried American journalist and diplomat Herbert Agar[6] The family owned homes in Mayfair, London and “Beechwood”, near Petworth, Sussex.[2] Following university, Wallace joined merchant bank Robert Benson Lonsdale and Co.[7] He left in 1953 to work for Silver City Airways as a customer enquires counter clerk, after walking in and asking for a job, explaining that meeting people was more important to him than figures in a ledger.Known for “charm that pops like a champagne cork”, the press chronicled his appearances at nightclubs, balls, race meetings and polo matches.It was reported how he had been her constant escort at private parties and at all that season’s major events and she was a frequent guest at his homes [7][21] After departing Balmoral, Wallace rebuked the press for “idiotic” stories.Engagement rumours were curtailed, but his reputation as her “favourite boy-friend” continued, petering out in late 1951,[22] amid reports of the King's disapproval of his “man about town habits”.Anticipation he would be Margaret’s chosen husband continued until the spring,[31] then alternated with other supposed candidates, mainly Christopher Loyd, whom she exchanged visits with over the next few months.[37] During the Royal Ascot horserace event in June Margaret was accused by the press of "stealing" new beau Lord Patrick Beresford from girlfriend Joanna Smith-Bingham.[44] His denial appeared in the press on the 26th, but the story was side-lined by Townsend returning from his world trip on the same day and meeting a “supremely happy” Margaret.She threw him out and didn’t speak to him for at least three years” In April 1956, as if to highlight Margaret’s isolation, Colin Tennant married Lady Anne Coke."A biography by Dempster from 1981 used similar quotes, relating that the engagement occurred around the time Townsend prepared for his world trip and placing the Bahamas vacation in 1957.Biographies by Noel Botham released in 1994 and 2002 contained quotes from Wallace apparently referring to the engagement: “The thing with Townsend was a girlish nonsense that got out of hand.