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William (Willie) Thornton Cust Boyd was the son of Mossom Boyd (1815-1883) and Letitia McGhee Cust (1819-1881) of Bobcaygeon, Ontario.
Along with his step-brother Mossom Martin Boyd (1855-1914), William T.C. Boyd operated the large family-owned enterprises founded by their father, of which the major were lumbering, Hereford cattle breeding, and cattle/buffalo cross-breeding. The Boyds were involved with the planning of the Lindsay, Bobcaygeon and Pontypool Railway, and with the Trent Valley Navigation Steamship Company, of which William T.C. Boyd was President from 1900 to 1904. Boyd was also an active partner in the firm of Boyd and Company along with his step-brother Mossom and cousin John Macdonald. From 1897 to 1899 he served as counsellor for the village of Bobcaygeon, and from 1900 to 1901 as reeve. He married Meta Bridgman in 1889, and had 8 children.