Jacob Rothschild: The baron who left behind a huge fortune - The family's history with Greece

Jacob Rothschild

Jacob Rothschild was the 4th Baron Rothschild, who joined RIT Capital Partners in 1959 and was instrumental in developing its business - Lord Jacob Rothschild has died

Billionaire Jacob Rothchild of the well-known Rothschild dynasty passed away at the age of 87, leaving behind a huge legacy. The name Rothschild is associated with enormous wealth, power and prestige.

In fact, the Rothschilds are a unique family who have amassed vast wealth over the past three centuries.

The family amassed billions through banking, starting humbly in Frankfurt, Germany, in the early 18th century to become the wealthiest family in the world today.

Jacob Rothschild was the 4th Baron Rothschild, who joined RIT Capital Partners in 1959 and was instrumental in developing the company's business. In 1971, he was appointed chairman of the Rothschild Investment Trust, which was worth £5 million.

In 1980, he left the bank to concentrate on developing the activities of Rothschild Investment Trust, which was subsequently renamed RIT. RIT was a listed investment trust at the time with around £80m in net assets.

From November 2003 until his retirement in 2008, he was deputy chairman of BSkyB and, until 2008, was a director of the financial group RHJ International. Before retiring from both roles, he was also a trustee of the State Hermitage Museum in St. Petersburg and the Qatar Museums Authority.

Lord Rothschild also played a major role in the restoration of Somerset House in London and restored of the 18th-century Spencer House.

He was appointed a Member of the Order of Merit by Queen Elizabeth II in 2002 and received the Prince of Wales Medal for Charity in the Arts in 2013.

As a famous patron of the arts, it also hosted numerous portraits, including those of Lucian Freud and David Hockney.

He also founded Windmill Hill Asset Management to manage the family's philanthropic portfolio and was chairman of the trustees of The Rothschild Foundation charity.

One of his biggest philanthropic commitments was Waddesdon Manor and the Waddesdon Estate in Buckinghamshire after he took over their management on behalf of the National Trust from his cousin Dorothy de Rothschild in 1988.

Relations with Greece

The Rothschilds' relations with Greece began before the Greek state was even created since they participated in the consortium that granted the two loans to the revolutionary Greeks in 1824.

Later, they were also among the founding shareholders of the National Bank in 1841.

READ MORE: The Greek Influence: King Charles III’s Connection to Greece and its Orthodox Traditions.

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