Sir William Russell, 1st Baronet, of Chippenham (before 1585 – 1654), was an English politician who sat as MP for New Windsor. He was a prominent member of several of the great trading companies. He was Treasurer of the Navy from 1618 until c. 1627, and was reappointed in 1630. He was created Baronet of Chippenham in 1630.
William was the son of William Russell of Surrey and Joan Sanders, and grandson of Maurice Russell of Yaverland, Isle of Wight. He travelled to Russia before attending Gray's Inn in 1631.
Williams was sworn a free brother of the East India Company on 20 October 1609, "having formerly bought Sir Francis Cherry's adventure", and became a director on 5 July 1615. He was appointed a director of the North-West Passage Company in July 1612. For many years he traded as an adventurer in the Muscovy Company, but, dissatisfied with the management, withdrew his capital. He afterwards became involved in legal proceedings with the company.
In May 1618 he bought the treasurership of the navy from Sir Robert Mansell. He held this office until about 1627, when Sir Sackville Crowe succeeded him. But the latter appears to have been so incompetent that Russell was reappointed in January 1630 and created a baronet. In 1632 he was appointed a commissioner to inquire into frauds on the customs; on 11 January 1639 Sir Henry Vane was associated with him in the treasurership of the navy. A man of considerable wealth, Russell frequently lent money to the government of Charles I. He was one of the promoters of the Persian Company, to which he subscribed £3,000, and took part in numerous projects for draining the Fens. In his last years he was much troubled by ill health, especially gout, and by his daughter Anne's marital difficulties. He died in 1654, and was buried (3 February) at Chippenham, Cambridgeshire.
Russell married three times. His first wife was Elizabeth, daughter of Sir Francis Cherry.
His second wife (also named Elizabeth) was the daughter of Thomas Gerard of Burwell, Cambridgeshire, by whom he had seven sons and three daughters. Of these:
Russell's third wife, again named Elizabeth, was the daughter and co-heiress of Michael Smallpage of Chichester, and widow of John Wheatley of Catsfield, Sussex, by whom he had two sons. Of these: