Jacob Rothschild, a British financier, philanthropist and member of the Rothschild banking family, has died. He was 87.
His death was announced Monday by the Rothschild Foundation in a post on X (formerly known as Twitter). No cause of death was given.
“The Rothschild Foundation and Waddesdon Manor are deeply saddened to announce the death of Lord Rothschild, businessman, entrepreneur, philanthropist and cultural leader,” read a statement from the charity. “He will be greatly missed by his family, his colleagues and his many friends.”
His family also confirmed his death.
“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,” their statement read.
The family shared that Rothschild “will be buried in accordance with Jewish custom in a small family ceremony and there will be a memorial at a later date to celebrate his life.”
In 1963, the famed financier — a seventh-generation heir of the Rothschild banking dynasty — began his career at NM Rothschild & Sons, a family bank, but left in 1980 to head the Rothschild Investment Trust, according to PA Media.
Now called RIT Capital Partners Plc, the business is one of the U.K.’s biggest investment trusts, per Bloomberg.
Following his stint with the family firm, Rothschild went on to establish a wealth management business, St. James’s Place Group (originally named the J. Rothschild Assurance Group), in 1991 with Sir Mark Weinberg and Mike Wilson, per the group’s website.
In 2002, Queen Elizabeth awarded the financier the Order of Merit, which is given to “individuals of exceptional distinction in the arts, learning, sciences and other areas such as public service,” according to the U.K. government’s website.
