Powerful Banker Jacob Rothschild Dies at 87
British financier Jacob Rothschild has died, according to an announcement from his family on Monday.
No cause of death was initially reported. He was 87.
Rothschild was a “senior member of one of Europe’s best-known banking dynasties,” CNBC noted in its coverage of his passing.
In its statement, his family described Rothschild as “a superbly accomplished financier, a champion of the arts and culture, a devoted public servant, a passionate supporter of charitable causes in Israel and Jewish culture, a keen environmentalist and much-loved friend, father and grandfather,” according to the BBC.
A number of the recipients of Rothschild’s charitable endeavors posted about his death on social media, including a country estate managed by the Rothschild Foundation.
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
“The Jewish community mourns the death of Lord Rothschild, a giant of Britain’s business and philanthropic worlds, whose positive contribution to so many aspects of British life was incalculable.” pic.twitter.com/dgfp5X0KmH
— Board of Deputies of British Jews (@BoardofDeputies) February 26, 2024
Lord Jacob Rothschild will be remembered as a most extraordinary philanthropic leader whose generosity was surpassed only by his humility. His contribution to our national life here in the UK, Israel and to good causes around the world was immeasurable. May his memory be a… https://t.co/UBsD71im7z
— Chief Rabbi Sir Ephraim Mirvis (@chiefrabbi) February 26, 2024
The Rothschilds began building their banking empire in the 18th century, when various family members left their home in Frankfurt, Germany, to expand their business, according to the BBC.
Jacob Rothschild was born in 1936 and educated at Eton College and Christ Church College, Oxford, before working in the family bank.
He left that company to found his own, RIT Capital, an investment trust that he led until 2019.
“Lord Rothschild also held roles including deputy chairman at BSkyB Television, director of RHJ International, now known as BHF Kleinwort Benson Group, and was a member of the council for the Duchy of Cornwall for the then-Prince of Wales,” the BBC reported.
The outlet also noted his “longstanding” patronage of the arts, including serving as chair of the National Lottery Heritage Fund, which aims to conserve the U.K.’s history, as well as serving as a trustee of London’s National Gallery for six years.
Rothschild was thought to have a net worth of approximately $5 billion.
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