Born to privilege on November 12, 1943 in New York City, Wallace was the son of renowned editor William Shawn of The New Yorker fame. He was educated at both Harvard University, where he studied history, and Magdalen College, Oxford. Wallace initially taught English in India on a Fulbright scholarship, and then English, Latin and drama back in New York. However, a keen interest in writing and acting compelled him to leave his position and pursue a stage career as both playwright and actor.
