Lord Jacob Rothschild: All to know about UK financier who died at 86
Lord Jacob Rothschild, the esteemed banker and philanthropist, passed away at 87, leaving behind a legacy of financial prowess and cultural enrichment.
Departing from N.M. Rothschild & Sons Ltd. in 1980, he founded Rothschild Investment Trust, now RIT Capital Partners Plc, which flourished into one of the UK’s largest investment trusts with £3.5 billion ($4.4 billion) in net assets.
Alongside RIT, he co-founded St. James’s Place Plc and engaged in significant business ventures, including a notable hostile takeover bid for British American Tobacco Plc.
Revered for his acute business acumen, he championed philanthropic causes, chairing the National Gallery and the National Heritage Lottery Fund. A dedicated art collector, he orchestrated the restoration of iconic landmarks like Spencer House and Waddesdon Manor.
Jacob’s lineage traced back to Mayer Amschel Rothschild, the founder of the Rothschild family’s financial dynasty. He navigated familial disputes, notably resigning over a merger disagreement in 1980 to establish RIT. Despite stepping down as RIT’s chairman in 2019, his daughter, Hannah, continues the family’s financial legacy.
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Nathaniel, his son, succeeded him as the 5th Baron Rothschild, upholding the family’s esteemed name. Jacob’s indelible mark on finance, culture, and philanthropy ensures his enduring impact on generations to come.
What to know about Jacob Rothschild:
Background: Born in April 1936, Jacob Rothschild was a descendant of the renowned Rothschild family of financiers, founded by Mayer Amschel Rothschild in the Jewish ghetto of Frankfurt in 1744.
Education and Family: Educated at Eton College and the University of Oxford, Jacob married Serena Mary Dunn in 1961, furthering his familial connections. Serena was a granddaughter of the Canadian financier Sir James Dunn.
Career: Jacob became a partner in N.M. Rothschild & Sons in 1959, eventually running its corporate-finance department. He departed the family bank in 1980 due to disagreements over its direction and founded Rothschild Investment Trust (now RIT Capital Partners Plc), which became one of the UK’s largest investment trusts.
Business Ventures: Alongside RIT, Jacob co-founded the asset manager St. James’s Place Plc. He was also involved in a significant but unsuccessful hostile takeover bid for British American Tobacco Plc.
Philanthropy: Known for his philanthropic endeavors, Jacob chaired the boards of the National Gallery and the National Heritage Lottery Fund. He was also the chairman of Yad Hanadiv, the family foundation with charitable interests in Israel.
Accolades: Jacob was awarded the Order of Merit by Queen Elizabeth II in 2002 for his service in the fields of arts, learning, literature, and science. He was also renowned for his contributions to the cultural and commercial life of Britain.
Family Succession: Jacob’s daughter, Hannah Rothschild, succeeded him as chair of RIT Capital Partners Plc. His son, Nathaniel, assumed the title of the 5th Baron Rothschild and continued the family’s financial legacy.
Legacy: Jacob’s contributions extended beyond finance, with involvement in various industries and philanthropic endeavors. His family’s ties with the broader Rothschild dynasty strengthened in recent years, signifying a continuation of his legacy even after his passing.
