Jacob Rothschild, a key figure in a famous European banking family, passed away at 87, as announced by his family on Monday.
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Born in England in 1936, Rothschild began working at NM Rothschild & Sons in 1963. Later, he co-founded J Rothschild Assurance Group, now known as St James's Place,
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Jacob Rothschild, a prominent member of a well-known European banking family, is a British financier.
In a statement to the UK's Press Association, the family described Rothschild as a significant influence in many people's lives.
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He began working at his family's bank, NM Rothschild & Sons, in 1963. Later, he co-founded J Rothschild Assurance Group, now called St James’s Place, a wealth manager in London.
He was part of various business ventures, like creating investment trust RIT Capital Partners. It supported different companies, from hedge funds to clean tech startups.
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Former UK culture minister, Ed Vaizey, praised Rothschild on X, calling him one of the nation’s top cultural philanthropists.
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Jacob Rothschild is believed to have a net worth of approximately $5 billion.