Rothschild Family

Isaak Elchanan Rothschild, born in 1577, was the first family member known to use the name 'Rothschild'. The name was derived from the German 'zum rothen Schild', meaning 'at the red shield', in reference to the house where the family resided.

At the age of twelve, Mayer Amschel Rothschild's parents passed away due to smallpox. He was then sent to Hannover to apprentice with Simon Wolf Oppenheimer, a prominent Jewish banking house. During his apprenticeship, Mayer gained knowledge in foreign trade, finance, and rare coins from various ancient civilizations.

In 1744, Mayer Amschel Rothschild laid the foundation of what would become one of the most powerful banking dynasties in history.

In 1760, Mayer Amschel Rothschild founded a financial institution in Frankfurt, Germany, specializing in money lending and trading. This marked the beginning of the Rothschild banking dynasty.

In 1763, Mayer Amschel Rothschild joined his brothers in the family business, marking a significant moment in the history of the Rothschild family.

Mayer Amschel Rothschild took an internship at a banking firm in Hanover, Germany, where he honed his skills in banking and foreign trade. This experience played a crucial role in shaping his future success as a prominent figure in the financial world.

Nathan Rothschild was the first of Mayer Amschel Rothschild's sons to establish a business in England. His branch of the family business grew significantly during the Napoleonic war, where he secured a contract with the British government.

In 1798, Nathan Mayer Rothschild relocated to London at the age of 21. Initially working as a merchant, he later established a bank in the City of London, further expanding the Rothschild financial network.

In 1810, Nathan Rothschild established N M Rothschild in London, a pivotal moment in the expansion of the Rothschild banking empire.

Mayer Rothschild left strict instructions for his heirs regarding family finances, emphasizing the importance of keeping the fortune within the family. His will established a patrilineal system of succession, restricting inheritance to the male line and excluding female descendants.

Nathan Rothschild received news of Wellington's victory at the Battle of Waterloo a full day ahead of the government's official messengers through his family network. He immediately took the news to the government, showing his loyalty before thinking about financial gain.

After calculating that the reduction in government borrowing due to peace would boost British government bonds, Nathan Rothschild made an audacious move by buying up the market in 1817 and selling the bonds two years later for a 40% profit.

The five sons of Mayer Amschel Rothschild were granted the Austrian hereditary title of Freiherr (baron) by Emperor Francis I of Austria on 29 September 1822.

In 1824, Nathan Rothschild and Moses Montefiore collaborated to establish the Alliance Assurance Company, showcasing the diversification of the Rothschild family's business ventures.

In 1825, Nathan Rothschild raised £2,000,000 to support the newly formed Empire of Brazil in gaining independence from Portugal. The Rothschilds were instrumental in securing Portuguese recognition of Brazilian independence by facilitating loans and repayment agreements.

In 1832, the Rothschild family arranged a loan of £400,000 to the Holy See, which was equivalent to €43,000,000 in 2014. This event was significant as it showcased the close relations between the Rothschilds and the Vatican.

In 1835, Nathan Rothschild gained exclusive rights to mercury mines in Spain, giving him a virtual world monopoly on this essential chemical element used in refining gold and silver.

In 1836, Niles' Weekly Register described the Rothschilds as the wonders of modern banking, with immense influence in international high finance. They were portrayed as holding significant power and control over political and financial matters across Europe and America.

In 1840, the London branch of N.M. Rothschild & Sons gained official status as a bullion broker for the British government, elevating its reputation and bringing wealth to the institution.

In 1852, N M Rothschild & Sons started refining gold and silver for prestigious institutions like the Bank of England and the Royal Mint, utilizing the valuable mercury supply secured earlier.

Following the Unification of Italy in 1861, the decline of the Italian aristocracy, who were the primary clients of the Rothschilds, led to the closure of their Naples bank. This marked a significant shift in the business landscape for the Rothschild family.

By the late 19th century, the Rothschild banking dynasty had expanded its operations to multiple countries, solidifying its status as a global financial powerhouse.

The Rothschild family was involved in the financing of the construction of the Suez Canal, which was officially opened on November 17, 1869. The canal connected the Mediterranean Sea to the Red Sea, providing a crucial shortcut for ships traveling between Europe and Asia.

Baron Edmond James de Rothschild, youngest son of James Jacob de Rothschild, was a patron of the first permanent settlement in Palestine at Rishon-LeZion in 1882.

Starting from 1887, N.M. Rothschild & Sons became heavily involved in mining and gemstones, providing financial support for new projects and increasing their wealth.

In 1901, the family line in Germany came to an end, leading to the closure of the original Frankfurt branch of the Rothschild family bank due to the lack of a Rothschild heir.

The Rothschilds' financial strategy involved holding their assets in financial instruments like stocks, bonds, and debts, allowing them to insulate their wealth from local violence and greedy monarchs. They also maintained secrecy about the size of their fortunes by keeping control of their banks within the family.

In 1917, Walter Rothschild, 2nd Baron Rothschild, received the Balfour Declaration from the British government, committing to establish a national home for the Jewish people in Palestine.

In 1938, the assets of N.M. Rothschild & Sons Austrian branch were seized by Hitler's government during the Nazi occupation of Austria, leading to the family being scattered during the war.

In 1953, Edmond Adolphe de Rothschild founded the LCF Rothschild Group, now known as Edmond de Rothschild Group, a financial entity based in Geneva with operations in 15 countries. The group specializes in asset management and private banking, as well as activities in mixed farming, luxury hotels, and yacht racing.

In 1981, the Paris branch of N.M. Rothschild & Sons was nationalized, leading to a shift in ownership and management. Despite this, the family maintained a presence in the banking sector in Paris through a private investment firm.

In 1982, President Francois Mitterrand's socialist government nationalized the Rothschild Bank in Paris, dealing it a fatal blow. The bank was renamed Compagnie Européenne de Banque.

Baron David René James de Rothschild created Rothschild & Cie Banque in Paris in 1987, with the assistance of his cousin Edmond. By 2003, the British and French banks were merged under David's leadership.

In 1991, Jacob Rothschild, 4th Baron Rothschild, established J. Rothschild Assurance Group (now St. James's Place Wealth Management) with Sir Mark Weinberg.

N.M. Rothschild & Sons held the chair for the new daily fixing of the world gold price until 2004.

In December 2009, Jacob Rothschild, 4th Baron Rothschild, invested $200 million of his personal funds in a North Sea oil company.

In January 2010, Nathaniel Rothschild, 5th Baron Rothschild, acquired a significant share of the market capitalisation of Glencore mining and oil company, as well as a substantial portion of the aluminium mining company United Company RUSAL.

In December 2014, Hannah Rothschild was appointed as the chair of the board of the National Gallery of London. This appointment marked a significant moment in the family's history and their involvement in the art world.

In the fiscal year 2016, Rothschild & Co. recorded an annual revenue of €1,589 million, showcasing the financial success of the corporation.

In 2022, N M Rothschild & Sons reported €2.97 billion in revenue and €606 million in net income, with €101.6 billion in assets under management.

As of 2023, the Rothschild family's net worth has surpassed $500 billion, solidifying their position as one of the wealthiest families in history.