Rothschild family
Prev part 0
Next part 2
Made with Beautifier
Original link from en.wikipedia.org
Baron Edmond James de Rothschild (known in Israel simply as "the Baron Rothschild" or "the Benefactor" (Hebrew: "HaNadiv"), youngest son of James Jacob de Rothschild, was a patron of the first permanent settlement in Palestine at Rishon-LeZion (1882). He also provided funding for the establishment of Petah Tikva as a permanent settlement (1883). Overall, he bought from Ottoman landlords 2-3% of the land which now makes up present-day Israel. After Baron de Hirsch died in 1896, the Hirsch-founded Jewish Colonisation Association (ICA) started supporting the settlement of Palestine (1896), and Baron Rothschild took an active role in the organization and transferred his Palestinian land holdings as well as 15 million francs to it. In 1924, he reorganized the Palestinian branch of the ICA into the Palestine Jewish Colonisation Association (PICA), which acquired more than 125,000 acres (50,586 ha) of land and set up business ventures. In Tel Aviv, the Rothschild Boulevard is named after him, as are a number of localities throughout Israel which he assisted in founding, including Metulla, Zikhron Ya'akov, Rishon Lezion and Rosh Pina. A park in Boulogne-Billancourt, Paris, the Parc Edmond de Rothschild (Edmond de Rothschild Park), is also named after its founder. The Rothschilds also played a significant part in the funding of Israel's governmental infrastructure. James A. de Rothschild financed the Knesset building as a gift to the State of Israel and the Supreme Court of Israel building was donated to Israel by Dorothy de Rothschild. Outside the President's Chamber is displayed the letter Dorothy de Rothschild wrote to then Prime Minister Shimon Peres expressing her intention to donate a new building for the Supreme Court.
Interviewed by Haaretz in 2010, Baron Benjamin Rothschild, a Swiss-based member of the banking family, said that he supported the Israeli–Palestinian peace process: "I understand that it is a complicated business, mainly because of the fanatics and extremists – and I am talking about both sides. I think you have fanatics in Israel. ... In general I am not in contact with politicians. I spoke once with Netanyahu. I met once with an Israeli finance minister, but the less I mingle with politicians the better I feel." Due to a dispute with the Israeli tax authorities, the baron refuses to visit Israel. But his wife Ariane de Rothschild often visits Israel where she manages the Caesarea Foundation. She says: "It is insulting that the state [Israel] casts doubt on us. If there is a family that does not have to prove its commitment to Israel, it's ours."
Places in Israel named after Rothschild family members
Primarily due to the generosity and influence of Baron Edmond James de Rothschild, HaNadiv (the Benefactor), on the history of the Land of Israel and the State of Israel, a tradition exists of naming cities, towns and other settlements in Israel in honor of members of the Rothschild family. Six of these places are grouped in the same vicinity, on the Sharon plain, while the others are scattered throughout the country. They are, listed in order of founding:
- Zichron Ya'akov (Hebrew: Jacob's Memory), a town founded in 1882 and named after the Benefactor's father, James [Jacob] Mayer de Rothschild (1792-1868) from the Paris branch of the family;
- Mazkeret Batya (Hebrew: Remembrance of Batya), a local council near Tel Aviv, founded in 1883 and named after Betty von Rothschild (1805-1886), the Benefactor's mother;
- Bat Shlomo (Hebrew: Salomon's Daughter), a moshav near Rehovot, founded in 1889 and also named after the Baron's mother, who was the daughter of Salomon Mayer von Rothschild (1774-1855), the Benefactor's grandfather from the Vienna branch;
- Meir Shfeya (Hebrew: Mayer's Fields), a youth village near Zichron Ya'acov, founded as a moshava in 1891 and named after Amschel Mayer von Rothschild (1773-1855), the Benefactor's grandfather from the Frankfurt branch;
- Givat Ada (Hebrew: Ada's Hill), a town near Zichron Ya'acov, founded in 1903 and named after the Benefactor's wife Adelheid von Rothschild (1853-1935), who was also his cousin, from the Naples branch;
- Binyamina, a town near Zichron Ya'acov, founded in 1922 and named after Benefactor himself (Binyamina was officially merged with Givat Ada in 2003);
- Ashdot Ya'akov (Hebrew: Jacob's Rapids), a kibbutz just south of the Sea of Galilee, founded in 1924 and named after James Armand Edmond de Rothschild (1878-1957), son of the Benefactor;
- Pardes Hanna (Hebrew: Hannah's [Citrus] Orchard), a local council near Zichron Ya'acov, founded in 1929 and named after Hannah Primrose, Countess of Rosebery née de Rothschild (1851-1890), daughter of Mayer Anschel Rothschild;
- Shadmot Dvora (Hebrew: Deborah's Cultivated Fields), a moshav near Tiberias, founded in 1939 and named after Dorothy de Rothschild (1895-1988), who was James de Rothschild's wife and the Benefactor's daughter-in-law;
- Sde Eliezer (Hebrew: Eliezer's Field), a moshav in the Hula Valley, founded in 1950 and named after Robert Rothschild (1911-1998), a relative of the Benefactor's of the French branch.
Modern businesses, investments, and philanthropySince the late 19th century, the family has taken a low-key public profile, donating many famous estates, as well as vast quantities of art, to charity, and generally eschewing conspicuous displays of wealth. Today, Rothschild businesses are on a smaller scale than they were throughout the 19th century, although they encompass a diverse range of fields, including: real estate, financial services, mixed farming, energy, mining, winemaking and nonprofits.
The Rothschild Group
Since 2003, a group of Rothschild banks have been controlled by Rothschild Continuation Holdings, a Swiss-registered holding company (under the chairmanship of Baron David René de Rothschild). Rothschild Continuation Holdings is in turn controlled by Concordia BV, a Dutch-registered master holding company. Concordia BV is managed by Paris Orléans S.A., a French-registered holding company. Paris Orléans S.A. is ultimately controlled by Rothschild Concordia SAS, a Rothschild's family holding company.Rothschild & Cie Banque controls Rothschild banking businesses in France and continental Europe, while Rothschilds Continuation Holdings AG controls a number of Rothschild banks elsewhere, including N M Rothschild & Sons in London. Twenty percent of Rothschild Continuation Holdings AG was sold in 2005 to Jardine Strategic, which is a subsidiary of Jardine, Matheson & Co. of Hong Kong. In November 2008, Rabobank Group, the leading investment and private bank in the Netherlands, acquired 7.5% of Rothschild Continuation Holdings AG, and Rabobank and Rothschild entered into a co-operation agreement in the fields of mergers and acquisitions (M&A) advisory and equity capital markets advisory in the food and agribusiness sectors. It was believed that the move was intended to help Rothschild Continuation Holdings AG gain access to a wider capital pool, enlarging its presence in East Asian markets.
Paris Orléans S.A. is a financial holding company listed on Euronext Paris and controlled by the French and English branch of the Rothschild family. Paris Orléans is the flagship of the Rothschild banking Group and controls the Rothschild Group's banking activities including N M Rothschild & Sons and Rothschild & Cie Banque. It has over 2,000 employees. Directors of the company include Eric de Rothschild, Robert de Rothschild and Count Philippe de Nicolay.
N M Rothschild & Sons, an English investment bank, does most of its business as an advisor for mergers and acquisitions. In 2004, the investment bank withdrew from the gold market, a commodity the Rothschild bankers had traded in for two centuries. In 2006, it ranked second in UK M&A with deals totalling $104.9 billion. In 2006, the bank recorded a pre-tax annual profit of £83.2 million with assets of £5.5 billion.
"Treat the stock exchange like a cold shower (quick in, quick out)."—A traditional family maxim.
Edmond de Rothschild Group
In 1953, one Swiss member of the family, Edmond Adolphe de Rothschild (1926–1997), founded the LCF Rothschild Group (now Edmond de Rothschild Group) which is based in Geneva, which today extends to 15 countries across the world. Although this Group is primarily a financial entity, specializing in asset management and private banking, its activities also cover mixed farming, luxury hotels and yacht racing. Edmond de Rothschild Group's committee is currently being chaired by Benjamin de Rothschild, Baron Edmond's son.
In late 2010, Baron Benjamin Rothschild said that the family had been unaffected by the financial crisis of 2007–2010, due to their conservative business practices: "We came through it well, because our investment managers did not want to put money into crazy things." He added that the Rothschilds were still a small-scale, traditional family business and took greater care over their clients' investments than American companies, adding: "The client knows we will not speculate with his money".
Edmond de Rothschild group includes these companies.
- Banque privée Edmond de Rothschild – Swiss private banking firm
- Compagnie Financière Edmond de Rothschild – French private bank
- La Compagnie Benjamin de Rothschild
- Cogifrance – Real estate
- Compagnie Vinicole Baron Edmond de Rothschild – wine making firm
RIT Capital Partners
In 1980, Jacob Rothschild, 4th Baron Rothschild resigned from N M Rothschild & Sons and took independent control of Rothschild Investment Trust (now RIT Capital Partners, a British investment trust), which has reported assets of $3.4 billion in 2008. It is listed on London Stock Exchange. Lord Rothschild is also one of the major investors behind BullionVault, a gold trading platform.
In 2010 RIT Capital Partners stored a significant proportion of its assets in the form of physical gold. Other assets included oil and energy-related investments.
In 2012, RIT Capital Partners announced it is to buy a 37 per cent stake in a Rockefeller family wealth advisory and asset management group. Commenting on the deal, David Rockefeller, a former patriarch of the Rockefeller family, said: "The connection between our two families remains very strong."
Investments
In 1991, Jacob Rothschild, 4th Baron Rothschild founded J. Rothschild Assurance Group (now St. James's Place Wealth Management) with Sir Mark Weinberg. It is also listed on London Stock Exchange.
In 2001, the Rothschild mansion located at 18 Kensington Palace Gardens, London, was on sale for £85 million, at that time (2001) the most expensive residential property ever to go on sale in the world. It was built in marble, at 9,000 sq ft, with underground parking for 20 cars.
In December 2009, Jacob Rothschild, 4th Baron Rothschild invested $200 million of his own money in a North Sea oil company.
In January 2010, Nathaniel Philip Rothschild bought a substantial share of the Glencore mining and oil company's market capitalisation. He also bought a large share of the aluminium mining company United Company RUSAL.
During the 19th century, the Rothschilds controlled the Rio Tinto mining corporation, and to this day, Rothschild and Rio Tinto maintain a close business relationship.
Wine
The Rothschild family has been in the winemaking industry for 150 years. In 1853, Nathaniel de Rothschild purchased Château Brane-Mouton and renamed it Château Mouton Rothschild. In 1868, James Mayer de Rothschild purchased the neighbouring Château Lafite and renamed it Château Lafite Rothschild.
Today, the Rothschild family owns many wine estates: their estates in France include Château Clarke, Château de Malengin, Château Clerc-Milon, Château d'Armailhac, Château Duhart-Milon, Château Lafite Rothschild, Château de Laversine, Château des Laurets, Château L'Évangile, Château Malmaison, Château de Montvillargenne, Château Mouton Rothschild, Château de la Muette, Château Rieussec and Château Rothschild d'Armainvilliers. They also own wine estates across North America, South America, South Africa and Australia.
Especially, Château Mouton Rothschild and Château Lafite Rothschild are classified as Premier Cru Classé—i.e., First Growth, the status referring to a classification of wines from the Bordeaux region of France.
Saskia de Rothschild was named Chairwoman of Château Lafite Rothschild in 2018, succeeding her father, Éric de Rothschild.Château Mouton Rothschild was managed by Philippine de Rothschild until her death in 2014. It is now under the direction of her son Philippe Sereys de Rothschild.
Art and charity
The family once had one of the largest private art collections in the world, and a significant proportion of the art in the world's public museums are Rothschild donations which were sometimes, in the family tradition of discretion, donated anonymously.
Hannah Mary Rothschild was appointed in December 2014 as chair of the Board of the National Gallery of London.
Cultural referencesIn the words of The Daily Telegraph: "This multinational banking family is a byword for wealth, power – and discretion... The Rothschild name has become synonymous with money and power to a degree that perhaps no other family has ever matched."
Writing of the Rockefeller and Rothschild families, Harry Mount writes: "That is what makes these two dynasties so exceptional – not just their dizzying wealth, but the fact that they have held on to it for so long: and not just the loot, but also their family companies."
The story of the Rothschild family has been featured in a number of films. The 1934 Hollywood film titled The House of Rothschild, starring George Arliss and Loretta Young, recounted the life of Mayer Amschel Rothschild and Nathan Mayer Rothschild (both played by Arliss). Excerpts from this film were incorporated into the Nazi propaganda film Der ewige Jude (The Eternal Jew) without the permission of the copyright holder. Another Nazi film, Die Rothschilds (also called Aktien auf Waterloo), was directed by Erich Waschneck in 1940. A Broadway musical entitled The Rothschilds, covering the history of the family up to 1818, was nominated for a Tony Award in 1971. Nathaniel Mayer ("Natty") Rothschild, 1st Baron Rothschild appears as a minor character in the historical-mystery novel Stone's Fall, by Iain Pears. Mayer Rothschild is featured in Diana Gabaldon's novel Voyager as a coin seller summoned to Le Havre by Jamie Fraser to appraise coins, prior to the establishment of the Rothschild dynasty, when Mayer is in his early 20s. The Rothschild name is mentioned by Aldous Huxley in his novel Brave New World, among many names of historically affluent persons, scientific innovators and others. The character, named Morgana Rothschild, played a relatively minor role in the story. The name Rothschild used as a synonym for extreme wealth inspired the song "If I Were a Rich Man", which is based on a song from the Tevye the Dairyman stories, written in the Yiddish as Ven ikh bin Rotshild, meaning "If I were a Rothschild".
In France, the word "Rothschild" was throughout the 19th and 20th centuries a synonym for seemingly endless wealth, neo-Gothic styles, and epicurean glamour. The family also has lent its name to "le goût Rothschild," a suffocatingly glamorous style of interior decoration whose elements include neo-Renaissance palaces, extravagant use of velvet and gilding, vast collections of armour and sculpture, a sense of Victorianhorror vacui, and the highest masterworks of art. Le goût Rothschild has much influenced designers such as Robert Denning, Yves Saint Laurent, Vincent Fourcade and others.
Conspiracy theories"Yes, my dear fellow, it all amounts to this: in order to do something first you must be something. We think Dante great, and he had a civilization of centuries behind him; the House of Rothschild is rich and it has required much more than one generation to attain such wealth. Such things all lie much deeper than one thinks."
Over more than two centuries, the Rothschild family has frequently been the subject of conspiracy theories. These theories take differing forms, such as claiming that the family controls the world's wealth and financial institutions or encouraged or discouraged wars between governments. Discussing this and similar views, the historian Niall Ferguson wrote,
Without wars, nineteenth-century states would have little need to issue bonds. As we have seen, however, wars tended to hit the price of existing bonds by increasing the risk that a debtor state would fail to meet its interest payments in the event of defeat and losses of territory. By the middle of the 19th century, the Rothschilds had evolved from traders into fund managers, carefully tending to their own vast portfolio of government bonds. Now having made their money, they stood to lose more than they gained from conflict. [...] The Rothschilds had decided the outcome of the Napoleonic Wars by putting their financial weight behind Britain. Now they would [...] sit on the sidelines.
Many conspiracy theories about the Rothschild family arise from anti-Semitic prejudice and various antisemitic canards.
Prominent descendants of Mayer Amschel RothschildProminent lineal descendants of Mayer Amschel Rothschild include among many others:
Baron David René de Rothschild, current French chairman of N M Rothschild & Sons and formerly of De Beers
Halton House, a Rothschild family mansion in Buckinghamshire, England
Exbury House, a Rothschild estate in England