(UnitedVoice.com) – The Rothschild empire dates back hundreds of years. The family established its banking business in the 1760s. In the centuries since, the Rothschilds have expanded their portfolios and remain one of the wealthiest families in the world. Sadly, the head of the empire recently passed away.
Financier Dies
On February 26, the Rothschild family issued a press release announcing the death of 87-year-old Jacob Rothschild. The Associated Press reported his children stated that their dad was a “towering presence,” an extremely successful financier, “a champion of the arts and culture, a devoted public servant,” a supporter of the Jewish people and Israel, an environmentalist, “and much-loved friend, father and grandfather.”
The family went on to say they would bury him “in accordance with Jewish custom in a small family ceremony” and have a larger memorial later.
The Rothschild Foundation, which he chaired before his death, also issued a statement, calling him a “businessman, entrepreneur, philanthropist and cultural leader.”
The Rothschild Foundation and Waddesdon Manor are deeply saddened to announce the death of Lord Rothschild, businessman, entrepreneur, philanthropist and cultural leader. He will be greatly missed by his family, his colleagues and his many friends. pic.twitter.com/wKkZZjQu8l
— Waddesdon (@WaddesdonManor) February 26, 2024
Who Was Jacob Rothschild?
Nathaniel Charles Jacob Rothschild, 4th Baron Rothschild, was born on April 29, 1936. He went to all of the usual prominent schools as a child, including Eton College in England. In 1963, he went to work for his family’s bank, N.M. Rothschild & Sons.
Rothschild wanted to merge the London branch of the bank with S.G. Warburg, another bank, but his family opposed the plan because they wanted to keep control of the business. The battle went on for years until 1980, when they decided that N.M. Rothschild & Sons Ltd. would operate separately from his breakaway operation, J. Rothschild & Company, which was known as Rothschild Investment Trust (RIT).
Rothschild led RIT until 2019, when he retired. The New York Times reported his personal wealth was estimated to be more than $1 billion. During his lifetime, he was an adviser to King Charles III when he was a prince and served as the deputy chairman of BSkyB Television, a company owned by Rupert Murdoch.
The billionaire also played a behind-the-scenes role in the Israeli government, according to the NYT report. He sponsored the construction of Israel’s National Library, Supreme Court, and Parliament. He told The Jerusalem Report that he tried to keep his philanthropic activities out of the headlines, saying his family never shouted their activity from the rooftops.
Rothschild is survived by his four children and very large extended family.
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