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Her maternal-grandfather was Antony Fisher, founder of many libertarian think tanks, including the Institute of Economic Affairs, the Atlas Economic Research Foundation and the Adam Smith Institute. Her mother is Linda Whetstone, who has been involved with several of Fisher's think tanks. Raised in East Sussex, Whetstone attended Benenden School and then read politics at Bristol University.
Upon graduation she joined Conservative Central Office, advising then-Home Secretary Michael Howard. She subsequently entered the private sector, working for One2One and Portland PR, before returning to Westminster in 2003 as Political Secretary to Howard when he became Conservative Party leader. When Howard stood down following the general election in 2005, she returned to the private sector, joining Google in California.
- "BBC Radio 4 - Woman's Hour, Woman's Hour Power List - Rachel Whetstone". www.bbc.co.uk. BBC. Retrieved 15 January 2014.
- Giles Hattersley (26 March 2006). "Power couple behind the new Tory throne". The Sunday Times.
- BBC Radio 4, Woman's Hour Power list
- Power couple behind the new Tory throne from the Sunday Times.
- Article by Adam Curtis about think tanks, featuring Rachel Whetstone from the BBC
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