John and his son Joseph were highly successful merchants, trading in rum and slaves and also operating a fleet of privateers. Joseph's son George Cabot (Cabot, George) furthered the family fortune, but he is best remembered for his political career—especially his leadership of the Federalist Party, the Essex Junto, and the Hartford Convention.

Over the generations, the Cabots moved from Salem to Beverly to Boston, Mass. Intermarriage with other wealthy Boston families produced a socially cohesive aristocracy: the Brahmins (Brahmin). Well-known Brahmins of Cabot descent include Francis Cabot Lowell (Lowell, Francis Cabot) (q.v.), Arthur Tracy Cabot, Richard Clarke Cabot, Edward Clarke Cabot, Godfrey Lowell Cabot, Henry Cabot Lodge (Lodge, Henry Cabot) (q.v.), and the latter's grandson Henry Cabot Lodge (Lodge, Henry Cabot) (q.v.).

Family members have distinguished themselves in medicine, architecture, politics, and philanthropy. Massachusetts General Hospital, the Boston Symphony, and Harvard University are only a few of the beneficiaries of Cabot wealth.