Lord Jacob Rothschild, the scion of the Rothschild banking family, died at the age of 87.
The City tycoon, who started his career at the family bank NM Rothschild & Sons in 1963, co-founded many companies such as J Rothschild Assurance Group and St James's Place.
The family described him as a "towering presence" and announced that the banking magnate and peer in the House of Lords would be buried before a memorial service.
Rothschild was well-known for his contributions to charitable and environmental organisations, as well as Jewish charities.
“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," Rothschild's family told the PA Media news agency.
Paying tribute to the late peer, Waddesdon Manor, the Rothschild family’s house in Waddesdon, near Aylesbury stated: “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.”
Sir Evelyn de Rothschild died in 2023 at the age of 91.
{{/usCountry}}Sir Evelyn de Rothschild died in 2023 at the age of 91.
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Who was Lord Jacob Rothschild?
Born in Berkshire, Lord Rothschild attended Eton College before studying history at Christ Church College, Oxford University.
He served as a chairman of RIT Capital Partners, one of the biggest investment trusts listed on the London Stock Exchange, until 2019. He additionally held positions as deputy chairman of BSkyB Television, director of RHJ International, now known as BHF Kleinwort Benson Group, and a member of the Duchy of Cornwall council for the then-Prince of Wales.
He served as chairman of the trustees of The National Gallery and the National Lottery Heritage Fund.
He was a well-known art collector who sat for many pictures, including those by Lucian Freud and David Hockney.
He established Windmill Hill Asset Management to handle the family's charity assets and served as chairman of the trustees for The Rothschild Foundation charity.
One of his most significant philanthropic contributions was to Waddesdon Manor and the Waddesdon estate in Buckinghamshire, England which he managed for the National Trust after taking over from his cousin Dorothy de Rothschild in 1988.
Know about Rothschild family net worth 2024
In December 2023, Forbes ranked the Rothschild family as the world's wealthiest, with a net value of $20 trillion. For almost 300 years, they have quietly affected global economic and political events. Jacob Rothschild alone owned $5 trillion. They provided financial support to the British during both the Napoleonic Wars and World War II. Their banks indirectly oversee large worldwide banks and pharmaceutical businesses.