Jacob Rothschild, a renowned banker who broke with his famous family, has died at the age of 87.
A member of the Rothschild banking family, which for more than 200 years has played a major role in European economic and, indirectly, political history, Jacob Rothschild broke with tradition by forging his own independent financial path.
Born in 1936 in Berkshire, Rothschild was educated at Eton College and then studied history at Christ Church College, Oxford.
He began his career at the family bank NM Rothschild & Sons, but left in 1980 after a falling out with his cousin Sir Evelyn de Rothschild. He then founded his own asset management company, the investment trust RIT Capital, which he ran until 2019.
Rothschild was not only an astute financier, but also a passionate philanthropist and patron of the arts.
He played an important role in the British art world, including as chairman of the National Lottery Heritage Fund and as a long-time patron of the National Gallery, which he chaired between 1985 and 1991.
His philanthropy also extends to the environment and the promotion of Jewish culture and charitable causes in Israel.
Rothschild received numerous honors for his work, including membership in the Order of Merit, which was bestowed upon him by the Queen in 2002.
Jacob Rothschild leaves behind a family that he led with Lady Serena Rothschild for over 50 years, until her death in 2019.
They had four children. His death marks the end of an era for the Rothschild family, which traces its roots back to the 18th century in Frankfurt. Its members spread across Europe to establish banking operations.