British financier Lord Jacob Rothschild, head of the British branch of the Rothschild banking family, died Monday at 87.
Rothschild’s family confirmed his death in a statement describing him as a “towering presence in many [people’s] lives,” according to Reuters. The statement noted the Fourth Baron Rothschild, whose title and seat in the House of Lords now pass to his son Nathaniel, was a “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.”
No official cause of death was given.
Born in 1963 in Berkshire, Rothschild attended Eton College before moving on to read history at Oxford, BBC reported. He began his esteemed career at NM Rothschild & Sons, before leaving the family bank to focus on Rothschild Investment Trust (RIT), which eventually became RIT Capital Partners, one of Britain’s largest investment trusts, according to Fortune.
At the time of his death, the Rothschild family was worth an estimated $825 million.
JUST IN – Lord Jacob Rothschild dies aged 87. pic.twitter.com/SoPY8GXoOe
— Disclose.tv (@disclosetv) February 26, 2024
Rothschild held various other positions within his lengthy career, including as a trustee of the National Gallery between 1985 and 1991. He was also an avid art collector and oversaw the restoration of London’s historic Spencer House. (RELATED: British Woman Who Can’t Afford Food Aims Profanity-Laden Rant At ‘Waste Of Space’ Prime Minister)
The Rothschild banking empire dates back to the eighteenth century and has branches in multiple European countries. During the Napoleonic wars, Nathan Mayer Rothschild rose to prominence in Britain by funding its military campaigns.