Who was Lord Jacob Rothschild? All about the London financier as he passes away aged 87

The 87-year-old heir of the Rothschild banking family, Lord Jacob Rothschild, passed away. According to sources like Independent, his family issued a statement on Monday, February 26, confirming his passing and referring to him as a "towering presence". They said to the news organization PA Media,

“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.”

The well-known banker and businessman Rothschild was also well-known for his contributions to Jewish charities, as well as environmental and charitable causes. He further co-founded numerous businesses, including J Rothschild Assurance Group and St. James's Place, after beginning his career in 1963 at the family bank NM Rothschild & Sons.

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Lord Jacob Rothschild was a famous London financier

Lord Jacob Rothschild was the heir of the Rothschild family (Image via Rothschild Foundation)

Lord Jacob Rothschild was born on April 28, 1936, in Berkshire, England. After attending Eton College and the University of Oxford, he joined the family bank and led its corporate-finance department before joining N M Rothschild & Sons as a partner four years later.

Additionally, Rothschild was a well-known philanthropist in the UK. He presided over the boards of the National Heritage Lottery Fund and the National Gallery.

He was also an investment banker, and a descendant of the Rothschild banking family. In addition to being involved in numerous humanitarian and charity endeavors, he held numerous significant positions in business, finance, and British public life.

Lord Jacob Rothschild was the oldest child born to Victor Rothschild and Barbara Judith Rothschild. Before leaving the family bank N M Rothschild & Sons in London in 1980 over a family conflict, Rothschild had begun working there in 1963. While he retained autonomous management of Rothschild Investment Trust, he sold his minority position in the bank.

After quitting his family business in 1980 due to disagreements over its direction, Rothschild then turned his attention to Rothschild Investment Trust and departed N M Rothschild & Sons Ltd. Now called RIT Capital Partners plc, the offshoot company is among the biggest investment trusts in the UK.

According to the Sunday Times Rich List from the previous year, the Rothschild family is estimated to be worth £825 million. They are known to donate £66 million to Jewish charities, art, and education.

Lord Jacob Rothschild also became chairman of the trustees for The Rothschild Foundation charity and founded Windmill Hill Asset Management to manage the family's charitable holdings.

In addition, he was a director of RHJ International, which is now known as BHF Kleinwort Benson Group, deputy chairman of BSkyB Television, and a member of the Duchy of Cornwall council for the Prince of Wales at the time.

Additionally, he was a well-known art collector who oversaw the five-year renovation of Waddesdon Manor, a 19th-century country estate constructed by one of his numerous affluent ancestors, from 1990 to 1995. He also restored Spencer House in London.

After more than 50 years of marriage to Serena, who passed away in 2019, Lord Jacob Rothschild is survived by four children: Hannah, Beth, Emily, and Nat, as well as several grandchildren.