UK financier Jacob Rothschild dies
British financier and philanthropist Jacob Rothschild, of the renowned Rothschild banking dynasty, has died at the age of 87.
Jacob Rothschild Photo: X
Rothschild began his career in the family bank, NM Rothschild & Sons, in 1963 before breaking away to start businesses and charitable organisations.
His family paid tribute to him in a statement.
“Our father Jacob was a towering presence in many people’s lives, 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,” his family said.
“He will be buried in accordance with Jewish custom in a small family ceremony and there will be a memorial at a later date to celebrate his life,” they added, without providing any more details.
Israel’s President Isaac Herzog said: “With his passing, we bid farewell to a great man who carried the historic legacy of his family with pride and humility, working always for the wellbeing of Britain, Israel, and Jewish communities all over the world.”
Yad HaNadiv, an Israel-based Rothschild family foundation, “saw the construction of two jewels in the crown of Jerusalem—the magnificent Supreme Court building, and the beautiful new National Library, which he sadly did not live to visit,” Herzog added.
The Rothschild family has an estimated fortune of about STG825 million ($A1.6 billion), according to last year’s Sunday Times Rich List. It reportedly gives away millions of pounds to Jewish causes, education and art.
Former British Prime Minister Tony Blair was among the political and cultural leaders who paid tribute to Rothschild.
Blair described him as a “towering figure in Britain’s Jewish community” and praised his work advancing peace in the Middle East.
Born in Berkshire, west of London, Rothschild was educated at Eton College and studied history at Christ Church College, Oxford University.
After leaving the Rothschild bank, he took control of Rothschild Investment Trust, now RIT Capital Partners. He was chairman of the firm, one of the largest investment trusts on the London Stock Exchange, until 2019.
He also co-founded the then J Rothschild Assurance Group, now St James’s Place, with Mark Weinberg in 1980, and served as deputy chairman at what was then BSkyB Television, among other roles.
In the cultural sector he was chairman of the board of trustees at London’s National Gallery and chair of the National Lottery Heritage Fund.
The Rothschild Foundation, the charity which manages the family’s former home, the country house Waddesdon Manor, said Jacob Rothschild’s daughter Hannah would succeed him as its chair.
Jacob Rothschild was married for more than 50 years to Serena, who died in 2019. They have four children, Hannah, Beth, Emily and Nat, and many grandchildren.
AAP/JNS
My great grandfather did a business deal with Lord
Rothschild of London – C1900 .. The tale goes that Rothschild sent thousands of pounds to Rosh Pina where my Great Grand father Joseph Weinberg was helping to develop. Joseph promised Fish and Grapes. The kinneret proved dry and so did the earth. No fish or grapes. Later Rothschild wanted his investment money back so Joseph’s newly married son and wife – with the only money they had, decided to go to Rothschild to explain. It was C1935 by this time and the young Weinbergs arranged to meet Rothschild. Then the Nazis attacked. The young couple fled to Paris (on charity) . They had no money to return to Rosh Pina. There they were rounded up and sent to their deaths. Rothschild never saw his money and Joseph and Nahama Weinberg NEVER saw their children again.