Financier Lord Jacob Rothschild Dies at 87

Rothschild family member and financier Lord Jacob Rothschild has died at 87, leaving behind a fortune and a lasting legacy.

Lord Jacob Rothschild, a prominent financier and member of the Rothschild banking family, has passed away at the age of 87, as confirmed by his family.

Lord Rothschild began his career at NM Rothschild & Sons, the family bank, in 1963. He went on to take control of Rothschild Investment Trust and co-founded the J Rothschild Assurance Group (now St James's Place) with Sir Mark Weinberg in 1980.

His family is estimated to have a fortune of around £825 million, according to last year's Sunday Times Rich List.

In a statement to the PA news agency, the family described Lord Rothschild as a towering presence in many people's lives, an 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 a much-loved friend, father, and grandfather.

Lord Rothschild will be buried in accordance with Jewish custom in a small family ceremony, with a memorial to celebrate his life planned for a later date.

Born in Berkshire, Lord Rothschild was educated at Eton College and later studied history at Christ Church college, Oxford University.

He served as chairman of RIT Capital Partners, one of the largest investment trusts quoted on the London Stock Exchange, until 2019. He also held roles such as deputy chairman at the then BSkyB Television, director of RHJ International (now BHF Kleinwort Benson Group), and a member of the council for the Duchy of Cornwall for the then Prince of Wales.

In the cultural sector, he was chairman of trustees at The National Gallery and chairman of The National Lottery Heritage Fund. He was a renowned patron of the arts and founded Windmill Hill Asset Management to manage the family's philanthropic portfolio. He also chaired the trustees for The Rothschild Foundation charity.

One of his significant philanthropic commitments was to Waddesdon Manor and the Waddesdon estate in Buckinghamshire. He took over the management of the estate on behalf of the National Trust from his cousin Dorothy de Rothschild in 1988.

The Rothschild Foundation and Waddesdon Manor expressed deep sadness at Lord Rothschild's passing, describing him as a businessman, entrepreneur, philanthropist, and cultural leader. His daughter Hannah will succeed him as chair of the charity.

Lord Rothschild was married for over 50 years to Serena, who passed away in 2019. They had four children - Hannah, Beth, Emily, and Nat - and many grandchildren.