Herbert Wolding was born in Portage, Wisconsin, USA on 15 October 1912. His parents were Hans Oliver Wolding (1879–1967) and Hannah Egeland (1885–1980), both born to Norwegian parents. He had at least one brother, Manferd (1914–1996). He attended Amherst High School, but he never graduated. After earning his eighth-grade certificate, he left school to help his family with their business.
On 25 June 1934, he married Evelyn Henke in Waukegan, Illinois. The couple went on to have four children: Richard, Don, Duane, and Cathy (married Kirsling). In 1935, during the Great Depression, he started a single-truck operation that ran daily milk deliveries in Nelsonville, Wisconsin, later known as H.O. Wolding, Inc. The headquarters would later move to a larger facility in Amherst, Wisconsin. His company went from having just one truck to having more than 350 tractors in its fleet.
In his retirement, he traveled to Norway and toured the country with his wife. He remained a devoted member of the Nelsonville Lutheran Church. His wife passed away in 2011, at the age of 93.
Herbert Wolding passed away in Nelsonville, Wisconsin, USA, on 17 November 2023, at the age of 111 years, 33 days. He was survived by three children (Richard, Don, and Cathy), six grandchildren, 17 great-grandchildren, 3 step great-grandchildren, 3 great-great-grandchildren, and 1 step great-great-grandchild.