Behind History of Rothschild Family
Behind History of Rothschild Family – Who are the Rothschilds?
Around 1760′s, a Jewish-German man who goes by the name Mayer Amschel Rothschild (1744–1812) and his 5 male children decided to start a banking business. Because the man Rothschild was one of the Jews who has some relationship with the German Royals (and also because he managed most of the money for them), he and his 5 sons were able to have social privileges such as living at court or outside of the Jewish ghettos, while being able to spread their influence over much more than just a small ghetto.
Jewish ghetto, during the 1700′s
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When the French revolution rolled in around 1789, which is when the French monarchy was overthrown and sent to the chopper (or the guillotine), the Rothschild banking empire benefited tremendously from the French Revolution. The Austrians during the French revolution asked the newly established Rothschild to help equip the Austrian army with guns, uniforms etc.,
Rothschild, realising he could make more dough with other countries rather than the Austrians, sent his 5 sons to live in the grandest cites of Europe, such as Paris, Vienna, London and Frankfurt, not so his sons could have a holiday, but so they can spread the Rothschild banking industry world wide (or European wide, because back then Europe was considered the world.)
With Rothschild’s 5 sons now in the most important places in Europe (at that time) led to the first bank to be in another country. Rothschild bank lending to governments to finance war operations over several centuries provided the Rothschild family with ample opportunity to accumulate bonds and build additional wealth in a range of different industries.
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But in 1811, after almost a couple decades working with the European top governments, the original Rothschild, Mayer Amschel Rothschild dies, but luckily, he has given his 5 sons strict instructions on how he wants his bank to be run so that the bank won’t collapse after his death.
He also told his sons to get married, so that his line of descents will run the banks, and not some random hippie (no offense to hippies, of course.) Which is one of the reasons Rothschild is still a family bank after all this time, and also the reason why Rothschild family tree is so massive.
Rothschild’s Family Tree
Rothchilds Family Tree
After Rothschild’s death, one of his sons, Nathan Mayer Rothschild, became the most successful. He was also much more generous than the others because he made many charities, and funded many schools such as the Jews’ Free School in London. Furthermore, he ran public libraries, orphanages, hospitals, homes for the elderly and special funds allocated for the purpose of education.
Educational efforts in Austria, France and Israel were also made possible through Rothschild generosity. In addition to money put toward education, the family gave an estimated 60,000 pieces of artwork to numerous organizations. The Rothschild family expanded the creation of social housing in the cities of London and Paris, and the Rothschild Foundation was created to further these efforts.
But in the early 20th century, the Rothschild empire was hit hard. The world wars, the political mayhem, and family problems diminished the family fortune over the next 100 years. The Naples branch of the bank had closed in 1863 and a lack of male heirs led to the closing of the Frankfurt branch in 1901.
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And worse was to come. When the Nazis took Austria in 1938, the Rothschild bank in Austria fell completely. The Vichy government in France expropriated Rothschild Bordeaux properties during the war and the Nazis confiscated millions of dollars’ worth of art, jewels and precious objects from the Austrian branch of the family.
Over the years, palatial Rothschild estates were gradually donated to the British and French governments and to other organisations and universities, since the Rothschild’s didn’t really need them any more, and also because they were wasting the Rothschild savings.
After the fall of Nazi Germany, only three banks remained under ownership of the Rothschild’s. These were the London and Paris branches, and a new Swiss bank founded by Baron Edmond Adolphe de Rothschild, who died in the 1970’s.
But luckily for the Rothschild’s, in 1982, Francois Mitterrand’s socialist government dealt with the Paris bank fatal blow, nationalizing it and renaming it Compagnie Européenne de Banc. Edmond Rothschild and Francois Mitterrand’s were actually relatives, so the Rothschilds helped Francois Mitterrand’s new socialist government, and ended up creating the Rothschild & Cie Banque, which became France’s second largest merchant bank.
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Today, Rothschild, after the family wealth has been divided among many descendants and heirs throughout the years competing with each other, Rothschild holdings span a number of industries, including financial services, real estate, mining, energy and charitable work. The family also owns more than a dozen wineries in North America, Europe, South America, South Africa and Australia.
Most family members are employed by corporations directly or are invested in operations that generate family wealth. The remarkable success of the family has largely been due to a strong interest in cooperation, being entrepreneurs, and the practice of smart business principles. The estate of Nathan Rothschild was intimately tied to the other fortunes of the family and became part of the collective wealth each Rothschild passed to the next generation.
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Rothschild descendants continue to finance global business operations and contribute to scholarly, humanitarian, cultural and business endeavors.
And this is the brief story of the Rothschild’s, the wealthiest banking family ever.
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