Jacob Rothschild, a member of the esteemed Rothschild family and a prominent philanthropist and banker, passed away at 87.
On Monday, prominent politicians and businesspeople paid their respects. With great sorrow, St. James’s Place expressed its feelings. As an incredibly successful investor and co-founder of St. James’s Place, Lord Rothschild is widely acknowledged for his substantial influence on the UK financial advice industry.
The wealthy city dweller started at the NM Rothschild & Sons family business. St. James’s Place, now run by Sir Mark Weinberg, was once J Rothschild Assurance Group; he left in 1980 to help found other companies.
Lord Rothschild served in several essential capacities in the City from 2003 to 2008, including that of deputy chair at BSkyB. A significant investment trust listed on the London Stock Exchange, RIT Capital Partners, was under his leadership from 1988 to 2019.
He presided over the board of trustees at the National Gallery from 1985 until 1991. After that, he oversaw the National Cultural Memorial Fund, which awarded £1.2 billion in grants to the cultural industry between 1992 and 1998. His work significantly impacted the fields of national arts and philanthropy.
He received the Award of Merit in 2002 for his notable contributions to the restoration of Somerset House in London, which included works of art, literature, education, and science.
Sir Ronald Cohen said the world has lost an extraordinary person in his eulogy for a very innovative and prosperous leader in the arts, philanthropy, and finance.
In the 1980s, Rothschild was involved in several high-profile deals and was widely considered one of the City’s most brilliant minds because of his education at Eton and Christ Church, Oxford. He and two other business magnates, Sir James Goldsmith and Kerry Packer, attempted to acquire British American Tobacco for £13 billion in 1989, but their proposal was unsuccessful.
Serena, the wife of Rothschild, died in 2019 after being married for more than half a century. Her many grandchildren, her son, and three daughters will remember her.
According to the Rothschild Foundation, he will be greatly missed by his loved ones, colleagues, and numerous acquaintances.
