 In 1922, after he had retired from business, Hudnut's stepdaughter, Natacha Rambova, married Rudolph Valentino, who, as it turned out, had not completed his divorce from his first wife.Richard Hudnut was also the president of the Hudnut Realty Co.

Richard Hudnut was married twice.His first wife Evelyn Isabell Beals (d. 1919), whom he married on May 14, 1881, was the daughter of granite dealer Horace Beals, and Jane A. Dwyer, better known as the Duchess of Catelluccia.