Financier And Philanthropist Jacob Rothschild Dies At 87

• Jacob Rothschild passed away at 87, a prominent figure in the Rothschild banking dynasty.

• He began his career at NM Rothschild & Sons in 1963.

• Rothschild was known for his finance achievements and philanthropic endeavors.

Chairman of RIT Capital Partners, Lord Jacob Rothschild arrives for a reception, hosted by Britain's Prince Charles, at Clarence House in London for the delegates of the Global Investment Confe

AP

Renowned financier and philanthropist Jacob Rothschild, a prominent figure in the Rothschild banking dynasty, has passed away at the age of 87, as confirmed by his family on Monday. Rothschild commenced his career at NM Rothschild & Sons, the family bank, in 1963, before venturing into establishing businesses and charitable organizations.

Described as a towering presence in many lives, Rothschild was celebrated for his accomplishments in finance, advocacy for arts and culture, dedication to public service, support for charitable causes in Israel and Jewish culture, commitment to environmentalism, and his roles as a friend, father, and grandfather.

The family announced that Jacob Rothschild would be laid to rest in accordance with Jewish customs in a private family ceremony, with a memorial service planned for a later date to honor his life.

The Rothschild family, known for their estimated fortune of approximately 825 million pounds ($1 billion), is recognized for their philanthropic contributions to Jewish causes, education, and the arts.

Former British Prime Minister Tony Blair and other political and cultural leaders paid tribute to Rothschild, acknowledging his significant impact within Britain's Jewish community and his efforts towards promoting peace in the Middle East.

Born in Berkshire and educated at Eton College and Oxford University, Rothschild later assumed leadership of Rothschild Investment Trust, now RIT Capital Partners, and co-founded J Rothschild Assurance Group, now St James’s Place. He held various positions, including deputy chairman at BSkyB Television.

Rothschild's involvement in the cultural sector extended to chairing the board of trustees at London's National Gallery and the National Lottery Heritage Fund. The Rothschild Foundation announced that his daughter Hannah would succeed him as chair.

Jacob Rothschild was married to Serena for over 50 years until her passing in 2019. Together, they had four children - Hannah, Beth, Emily, and Nat - and several grandchildren.