Do you know who was the richest family in the world? Have you ever heard of the Rothschilds family? do you know who are Rothschilds?

The Rothschilds, a Jewish banking family from the 1700s who at one time owned about 50 percent of the world’s wealth, were pioneers in the evolution of international finance. The famous of all European banking empires, The Rothschilds’ exerted a great impact on the economic and political history of Europe. The banking empire originated in Frankfurt by Mayer Amschel Rothschild and grew prominence under his five sons. As Mayer’s strict will allowed only male relatives to control any titles or property, only his five sons are involved in spreading the business.

The originator: Mayer Amschel Rothschild

WHO ARE ROTHSCHILDS
Mayer Amschel Rothschild

The story begins with Mayer Amschel Rothschild, sometimes called “The founding Father of International Finance.” He learned the business at a young age and worked as a dealer in coins and a money lender in the Frankfurt ghetto. His work attracted many buyers and sellers throughout the region. His parent’s early death forced him to apprentice at a prominent banking house at the age of 12. There he knew about international trade and finance and got knowledge about rare coins from ancient Rome, Persia, and the Byzantine Empire. The collectors of these coins were the man of wealth. 

The Beginning of Banking Empire

At the age of 19, he comes back to Frankfurt and starts working with his brothers in a rare coin trading business started by their father. In his first decade of business, he constructed a relationship with Crown Prince Wilhelm of Hesse (who also bought coins from Mayers’ father). and led to an honorary title. This relationship developed his ties with other nobles, allowing him to deal with royalty.

In 1770, Mayer married the daughter of a court jew, Gutle Schnapper. They had ten infants- five sons and five daughters.

Expanding and Controlling the Banking Empire

At the beginning of the 19th century, he with his five sons Amschel Mayer, Salomon Mayer, Nathan Mayer, Karl Mayer, and James Mayer established branches in Frankfurt, Vienna, London, Naples, and Paris creating a unique international banking network. 

With the growing business of banking and finance, the Rothschilds also encompassed mining, energy, real estate, and winemaking and steadily the family became well known for charitable activities particularly in education.

Rothschild profited immensely during the French revolutionary and Napoleonic wars by helping the British Government with their finances. The wars for Rothschild meant loans to warring princes; trading in arms, wheat, cotton, and other key commodities. 

The Rothschild dynasty expanded their business, participated in economic growth throughout Europe with their railway, coal, ironworking, and metallurgical investments, and acquired a key position in the World trade of oil and non-ferrous metals. But as time was spent, they lost their position and by the last quarter of the 19th century, Rothschilds were no longer the first banking consortium. 

Nathan Mayer Rothschild: The Global Financier

Nathan Rothschild
Nathan Mayer Rothschild

One of the five Rothschild sons achieved the greatest success. Nathan Mayer Rothschild started a textile business in 1798 in Manchester England and later moved to London as a banker: N.M Rothschild (1810).

N M Rothschild & Sons’ is still running today.

Nathan Rothschild, a generous one, made many charities, he financially supported the Jews’ Free School in London, ran public libraries, orphanages, hospitals, and issued special money for Education.

Educational efforts in France, Austria, and Israel were also put forward by Rothschilds’. With money for education, the family also gave about 60,000 pieces of artwork to public institutions. Further Rothschilds’ expanded the formation of social housing in the cities of London and Paris and a Foundation was formed to afore these efforts.

Who are Rothschilds in 20th century?

rothschild
German-born physicist Albert Einstein (1879 – 1955) and Irish playwright George Bernard Shaw (1856 – 1950) attend a dinner at the Savoy Hotel, October 1930. Between them is Lionel Walter Rothschild (1868 – 1937), the 2nd Lord Rothschild. (Photo by Topical Press Agency/Hulton Archive/Getty Images)

The world wars, the political scrimmage, and family problems shrink the family fortune over the next 100 years. In 1863, the Naples branch of the bank was closed and in 1901 the Frankfurt branch was locked due to a lack of male heirs. Later The Vienna branch and Nazi invasion of Austria were also closed posing a danger to Jews.

Later only three banks stands: the London branch, the Paris branch, and the Swiss Bank started by Edmond Adolphe de Rothschild. In 1982, President Francois Mitterrand’s socialist government dealt the Paris bank a fatal blow and retitled it as Compagnie Europeenne de Banque. That time Edmond’s cousin Baron David Rene James de Rothschild supported him, who stayed in Paris and 1987 built Rothschild & Cie Banque.

Who Are Rothschilds in 21st century?

The family’s wealth has been divided among the successors and heirs over the years. Today, Rothschilds cover financial services, real estate, mining, energy, and charitable work. The family also owns many wineries all over the world. 

Today Rothschilds corporations pursue success. Many family members are posted in these corporations or are working in operations that generate family wealth. The amazing success of the family has mainly been due to a strong interest in cooperation, being entrepreneurs, and the practice of smart business principles. 

The property of Nathan was bound to other fortunes of the family members and became a part of collective money each Rothschild passed to the following generation. 

The descendant continues to finance worldwide businesses and contribute to scholarly, cultural, humanitarian, and business endeavors. 

What is the Importance of Rothschilds’?

The Rothschild family is the most eminent European banking dynasty. They pioneered international high finance during the industrialization of Europe. They also support railway systems throughout the world.

They are well known for their numerous acts of charity. They gave financial support to schools, orphanages, hospitals, public libraries, etc.

The aim of the Rothschild family is Concordia, Integritas, Industria, meaning harmony, integrity, and industry.

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