London – Jacob Rothschild, the esteemed financier and philanthropist hailing from the renowned Rothschild banking lineage, passed away at 87, as confirmed by his family on Monday.
Rothschild commenced his professional journey within the family’s esteemed institution, NM Rothschild & Sons, in 1963, eventually branching out to establish various enterprises and charitable ventures. His family issued a heartfelt tribute to commemorate his legacy.
“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,” expressed his family.
In accordance with Jewish customs, Rothschild will be laid to rest in a small family ceremony, with plans for a later memorial to honor his life, though specifics were not disclosed.
With an estimated fortune of around 825 million pounds ($1 billion), according to last year’s Sunday Times Rich List, the Rothschild family is noted for its philanthropic endeavors, channeling substantial funds towards Jewish causes, education, and the arts.
Former British Prime Minister Tony Blair joined political and cultural figures in paying homage to Rothschild, lauding him as a “towering figure in Britain’s Jewish community” and applauding his efforts toward peace in the Middle East.
Born in Berkshire, Rothschild received his education at Eton College and pursued history at Christ Church College, Oxford University. Following his tenure at the Rothschild Bank, he assumed leadership of Rothschild Investment Trust, now RIT Capital Partners, serving as chairman until 2019.
Additionally, Rothschild co-founded J Rothschild Assurance Group, later rebranded as St James’s Place, alongside Mark Weinberg in 1980. His contributions extended to serving as deputy chairman at what was then BSkyB Television, among other notable roles.
In the realm of culture, Rothschild chaired the board of trustees at London’s National Gallery and held the position of chair at the National Lottery Heritage Fund.
The Rothschild Foundation, custodian of the family’s ancestral estate, Waddesdon Manor, announced that Jacob Rothschild’s daughter Hannah would succeed him as its chair.
Rothschild shared over 50 years of marriage with Serena, who passed away in 2019. Together, they parented four children, Hannah, Beth, Emily, and Nat, along with numerous grandchildren.