Jacob Rothschild obit

Lord Jacob Rothschild: Financier dies aged 87

The British peer started his career in his family bank in 1963

He was not on the list.

Financier, philanthropist and head of the renowned Rothschild empire Lord Jacob Rothschild has died aged 87.

His family confirmed his death in a statement on Monday and described the grandfather - who has held a number of senior financial and philanthropic roles - as a “towering presence”.

The Rothschilds have an estimated fortune of around £825 million, according to last year’s Sunday Times Rich List, and give away a reported £66 million to Jewish causes, education and art.

The British peer started his career in the family bank, NM Rothschild & Sons, in 1963, before breaking away from his family to co-found the then J Rothschild Assurance Group, now St James’s Place, in 1980.

Lord Rothschild was married for more than 50 years to Serena, who died in 2019, and leaves behind four children - Hannah, Beth, Emily and Nat – and many grandchildren. The Rothschild Foundation confirmed Lord Rothschild’s daughter Hannah would succeed him as chair of the charity.

In a statement announcing his death, his family said: “Our father Jacob was a towering presence in many people’s lives, 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.

“He will be buried in accordance with Jewish custom in a small family ceremony and there will be a memorial at a later date to celebrate his life.”

Born in Berkshire, Lord Rothschild was educated at Eton College and then went on to study history at Christ Church college, Oxford University.

He was chairman of RIT Capital Partners – one of the largest investment trusts quoted on the London Stock Exchange – until 2019.

He also held roles including deputy chairman at the then BSkyB Television, director of RHJ International, now known as BHF Kleinwort Benson Group, and was a member of the council for the Duchy of Cornwall for the then Prince of Wales.

He also founded Windmill Hill Asset Management to manage the family’s philanthropic portfolio.

In the cultural sector, he was chairman of trustees at The National Gallery and chairman of The National Lottery Heritage Fund.

A renowned patron to the arts, he also sat for numerous portraits, including by Lucian Freud and David Hockney and was chairman of the trustees for The Rothschild Foundation charity.

One of his biggest philanthropic commitments was to Waddesdon Manor and the Waddesdon estate in Buckinghamshire, having taken over the management on behalf of the National Trust from his cousin Dorothy de Rothschild in 1988.

In a post on X, formerly known as Twitter, the Rothschild Foundation and Waddesdon Manor said they were “deeply saddened to announce the death of Lord Rothschild, businessman, entrepreneur, philanthropist and cultural leader”.

“He will be greatly missed by his family, his colleagues and his many friends,” they added

The Rothschild Foundation said Lord Rothschild was an “extraordinary person” who “made a profound difference to many areas of British life”.

The foundation said: “He was committed to helping communities, the environment, education and above all, the arts.”

“Jacob Rothschild was an extraordinary person, and his loss will be felt by many. The family is committed to continuing his legacy and the foundation which he loved and endowed.”