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Who was Jacob Rothschild? Exploring life and career of famous financer who passed away at 87
The 87-year-old financier Lord Jacob Rothschild, who was a part of the Rothschild banking family passed away on Monday.
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On Monday, Lord Joacob Rothschild passed away at the age of 87
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Lord Joacob Rothschild was a financier, a champion of the arts and culture
TRIGGER WARNING: This article contains references to an individual's death.
Jacob Rothschild, 87-year-old financier, philanthropist, and scion of the Rothschild banking family, passed away on Monday. In a statement to the Press Association, his family announced that he passed away. However, the cause of death was not revealed.
The statement read, "Our father Jacob was a towering presence in many peoples’ lives - a superbly accomplished financier, a champion of the arts and culture, a devoted public servant." Before starting his wealth management fund, he worked at the family bank, NM Rothschild & Sons.
Who was Lord Jacob Rothschild?
Victor Rothschild's eldest son, Nathaniel Charles Jacob Rothschild, was born on April 29, 1936, at Merton Hall in Cambridge. Under the tutelage of Hugh Trevor-Roper, Rothschild received his education at Eton College and later Christ Church, Oxford, where he graduated with a First in history.
Career as a financer
The City tycoon began his professional life at the family bank NM Rothschild & Sons. He left the company in 1980 to co-found several businesses, including Rothschild Investment Trust and J Rothschild Assurance Group, which is now St. James's Place, along with Sir Mark Weinberg.
With £3.5 billion ($4.4 billion) in net assets at the end of 2017, the subsidiary company, now known as RIT Capital Partners Plc, is currently among the biggest investment trusts in the UK.
Philanthropy
He was a leading figure in the arts and philanthropy in the country. He served as chair of the National Heritage Memorial Fund from 1992 to 1998, supervising the allocation of £1.2 billion in grants to the heritage industry, and as chair of the National Gallery's board of trustees from 1985 to 1991.
Like the other members of the distant family, Rothschild had charitable interests in Israel. He served as the head of Yad Hanadiv, the family foundation that donated the Supreme Court and Knesset buildings to the country.
In 2002, he was given the Order of Merit, which honors exceptional contributions in the domains of the arts, literature, education, and science. He was also actively involved in the restoration of Somerset House in London. Rothschild was one of the few individuals who was painted by David Hockney as well as Lucian Freud.
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