Background
He was born in Jamaica, the son of Josiah Heathcote, a West India Merchant of London, and his wife, Catherine, widow of Thomas Barrett of Jamaica.
He was born in Jamaica, the son of Josiah Heathcote, a West India Merchant of London, and his wife, Catherine, widow of Thomas Barrett of Jamaica.
He was educated at Clare College, Cambridge and the Middle Temple (which he entered in 1720).
From 1730 to 1733 he was a director of the South Sea Company and the Master of the Salters" Company in 1737. In 1729 he was elected a Fellow of the Royal Society. From 1727 to 1734 he was the Member of Parliament for Hindon, Wiltshire and from 1734 to 1741 the Member of Parliament for Southwark.
He served as an Alderman for the Walbrook ward of the City of London from 1739 to 1749, was elected a Sheriff of the City of London for 1740, and elected Lord Mayor of London in 1742.
He also served in Parliament from 1741 to 1747 as the representative for the City of London. He was also a Jacobite, a supporter of the exiled House of Stuart and was actively involved in a plot in 1752 to restore of the Stuart dynasty.
After the death of Doctor Bray in 1730, the Associates petitioned to create a new colony for relief of debtors, among other purposes. In 1732, the Associates were granted a royal charter founding the Trustees for the Establishment of the Colony of Georgia in America.
Heathcote was active in planning the colony with James Oglethorpe (see Oglethorpe Plan), and he served as treasurer for the Trustees.
He was an opponent of Robert Walpole’s government ministry and a follower of William Wyndham’s opposition Tory party.
Royal Society; 7th Parliament of Great Britain. 8th Parliament of Great Britain]
Heathcote was a member of the Associates of the Late Doctor Thomas Bray, a philanthropic organization. Heathcote was a member of the Masonic Lodge at the Rummer Tavern, Charing Cross and was known as the wealthiest commoner in England when he died in 1768 aged 67.