Complex sentence: Watt's family was wealthy, and he was able to establish himself as a grazier with the purchase of several cattle stations in New South Wales and Queensland, before obtaining his Master of Arts degree from Cambridge in 1904.
Split into simpler sentences: Watt's family was wealthy, and he was able to establish himself as a grazier with the purchase of several cattle stations in New South Wales and Queensland. Travelling again to Britain, he obtained his Master of Arts degree from Cambridge in 1904.