Jacob Rothschild, a prominent financier and philanthropist from the renowned Rothschild banking dynasty, has passed away at the age of 87. His family officially announced his death on Monday.

Rothschild embarked on his career in 1963 at NM Rothschild & Sons, the family’s banking institution. Later on, he went on to establish his own successful ventures and charitable organizations. In a statement honoring his legacy, his family depicted him as a respected financier, a patron of the arts and culture, a devoted public servant, an ardent supporter of charitable causes in Israel and Jewish culture, a committed environmentalist, and a beloved friend, father, and grandfather.

The family has disclosed that Jacob will be laid to rest in accordance with Jewish customs, during a modest family ceremony. A memorial to celebrate his life will be organized at a later date, although no additional details have been provided.

According to the Sunday Times Rich List of last year, the Rothschild family possesses an estimated fortune of approximately £825 million ($1 billion). Their philanthropic endeavors in support of Jewish causes, education, and the arts are well-known.

Tony Blair, former British Prime Minister, alongside other political and cultural leaders, paid tribute to Jacob Rothschild. Blair commended his significant contributions to the Jewish community in Britain and his efforts to promote peace in the Middle East.

Jacob Rothschild, who was born and raised in Berkshire, located west of London, received his education at Eton College and studied history at Christ Church College, Oxford University.

After leaving the Rothschild bank, he assumed control of Rothschild Investment Trust, which is now known as RIT Capital Partners. He served as the chairman of this firm, one of the largest investment trusts listed on the London Stock Exchange, until 2019.

Rothschild also co-founded the J Rothschild Assurance Group, which is presently recognized as St James’s Place, alongside Mark Weinberg in 1980. He held various positions, including deputy chairman at BSkyB Television, now known as Sky.

In the cultural sphere, he served as the chairman of the board of trustees at London’s National Gallery and as the chair of the National Lottery Heritage Fund.

The Rothschild Foundation, responsible for managing the family’s former residence, Waddesdon Manor, has announced that Jacob Rothschild’s daughter, Hannah, will succeed him as chair.

Jacob Rothschild and Serena were married for over 50 years until her passing in 2019. They have four children, Hannah, Beth, Emily, and Nat, as well as several grandchildren.

Jacob Rothschild philanthropy.

Jacob Rothschild was deeply involved in philanthropy, particularly in the arts sector in Britain. He held several key positions, including Chairman of Trustees of the National Gallery from 1985 to 1991, and later chairman of the National Heritage Memorial Fund from 1992 to 1998. Additionally, he served as chairman of the Heritage Lottery Fund, overseeing the distribution of £1.2 billion in grants from the National Lottery to the heritage sector during the 1990s. Rothschild also played a significant role in the restoration of Somerset House in London, securing the Gilbert Collection and ensuring the long-term future of the Courtauld Institute of Art.

Internationally, Rothschild’s philanthropic efforts extended to organizations such as the State Hermitage Museum in St Petersburg, where he served as a Trustee until 2008, and the Qatar Museums Authority until 2010. He also chaired the Pritzker Prize for Architecture from 2002 to 2004 and was actively involved in the Butrint Foundation, dedicated to conserving the archaeological site of Butrint in Albania.

In Israel, Rothschild chaired Yad Hanadiv, the family foundation that contributed significant buildings, including the Knesset and the Supreme Court, to the country between 1989 and 2018. He was also president of The Rothschild Foundation (Hanadiv) Europe and played a leading role in various Jewish policy research institutions.

In addition to his arts and cultural philanthropy, Rothschild had a significant impact on heritage preservation through his stewardship of the Waddesdon and Eythrope estates in Buckinghamshire. He spearheaded the restoration of Waddesdon Manor and established it as a semi-independent operation. The estate, which houses his personal collection of Rothschild wines, has garnered numerous awards and hosted several prominent events and dignitaries over the years.

Rothschild’s philanthropic legacy encompasses a broad spectrum of contributions to arts, culture, heritage preservation, and education, both in Britain and internationally.