The House of Rothschild | |
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Ethnicity | Ashkenazi Jewish |
Current region | Monaco, Luxembourg, France, Switzerland,Liechtenstein, United Kingdom, Cayman Islands |
Information | |
Place of origin | Frankfurt am Main |
The Rothschild family (German: [ˈʁoːt.ʃɪlt]), known as The House ofRothschild,[1]or more simply as the Rothschilds, is a European dynasty, ofGerman-Jewish origin, that established European banking and financehouses starting in the late 18th century. Five lines of theAustrian branch of the family have been elevated to Austrian nobility being given hereditarybaronies of the Habsburg Empire by Emperor Francis II in 1816. Another line, of the Britishbranch of the family was elevated to British nobility at the request of Queen Victoria.[2][3]It has been argued that during the 19th century, the familypossessed by far the largest private fortune in the world as wellas by far the largest fortune in modern world history.[3][4][5]
Contents[hide] |
Familyoverview
The first member of the family who was known to use the name"Rothschild" was Izaak Elchanan Rothschild, who was born in 1577.The name means "Red Shield" in old German. The family's ascent tointernational prominence began in 1744, with the birth of Mayer Amschel Rothschild in Frankfurt am Main, Germany. He was the son ofAmschel Moses Rothschild, (born circa 1710),[6]who was a money changer, who had traded with thePrince of Hesse. Born in the ghetto (called "Judengasse" or Jewish-alley) of Frankfurt, Mayer developed a finance house andspread his empire by installing each of his five sons in the fivemain European financial centres to conduct business. The Rothschildcoat of arms contains a clenched fist withfive arrows, symbolizing the five dynasties, established by thefive sons of Mayer Rothschild, in a reference to Psalm 127: "Like arrows in the hands of awarrior". The family motto appears below the shield: Concordia,Integritas, Industria, (Harmony, Integrity,Industry).[7]
Historian Paul Johnson writes "[T]he Rothschilds areelusive. There is no book about them that is both revealing andaccurate. Libraries of nonsense have been written about them... Awoman who planned to write a book entitled Lies about theRothschilds abandoned it, saying: 'It was relatively easy tospot the lies, but it proved impossible to find out the truth'.They are highly secretive... All the same, the salient facts aboutthe Rothschilds are clear enough. They were a product of theNapoleonic Wars, just as the first phase oflarge-scale Jewish finance was a product of the Thirty Years War, and for the same reason: inwartime, Jewish creativity comes to the fore and gentile prejudicegoes to the rear." Johnson notes that prior to the beginning of therevolutionary wars in France, in the mid-1790s, European merchantbanking was dominated by non-Jews, including the "Baringsof London, the Hopes of Amsterdam and the Gebrüder Bethmann of Frankfurt". The financialdemands of war quickly expanded the money-raising market and soopened room for newcomers, including a German-Jewish group with theOppenheims, Rothschilds, Heines, and Mendelssohns among them;[8]he writes that, unlike the court Jews of earlier centuries, who hadfinanced and managed European noble houses, but often lost theirwealth through violence or expropriation, the new kind ofinternational bank created by the Rothschilds was impervious tolocal attacks. Their assets were held in financial instruments,circulating through the world as stocks, bonds and debts. Changesmade by the Rothschilds allowed them to insulate their propertyfrom the ravages of local violence: "Henceforth their real wealthwas beyond the reach of the mob, almost beyond the reach of greedymonarchs."[9]Johnson considers that the family fortune essentially "was createdby Nathan Mayer Rothschild in London"; morerecent and detailed research by Niall Ferguson, indicates that vast profitsalso were realised by later Rothschild dynasties, includingJames Mayer de Rothschild in Paris.[10]
Another essential part of Mayer Rothschild's strategy for futuresuccess was to keep control of their banks in family hands,allowing them to maintain full secrecy about the size of theirfortunes. About 1906, the Jewish Encyclopedia noted: "The practiceinitiated by the Rothschilds of having several brothers of a firmestablish branches in the different financial centers was followedby other Jewish financiers, like the Bischoffsheims, Pereires, Seligmans, Lazards, and others, and these financiers bytheir integrity and financial skill obtained credit not alone withtheir Jewish confrères, but with the banking fraternity in general.By this means Jewish financiers obtained an increasing share ofinternational finance during the middle and last quarter of thenineteenth century. The head of the whole group was the Rothschildfamily...". It also states: "Of more recent years, non-Jewishfinanciers have learned the same cosmopolitan method, and, on thewhole, the control is now rather less than more in Jewish handsthan formerly."[11]
Mayer Rothschild successfully kept the fortune in the familywith carefully arranged marriages, often between first orsecond cousins (similar to Royal intermarriage). By the late 19thcentury, however, almost all Rothschilds had started to marryoutside the family, usually into the aristocracy or other financialdynasties.[12]His sons were:
The German family name "Rothschild" is pronounced approximatelyROT-shillt in German, not wroth(s)-child as it is in English. Thesurname "Rothschild" is not uncommon in Germany, and the vastmajority of the bearers of the name are unrelated to this family.Moreover, the German surnames "Rothschild" and "Rothchild" are notrelated to the Protestant surname "Rothchilds" from the UnitedKingdom.
Families by country:
TheNapoleonic Wars
A landmark Rothschild Palace in Frankfurt, Germany, Villa Günthersburg(photographed 1855)The Rothschilds already possessed a very significant fortunebefore the start of Napoleonic Wars (1803–1815), and the familyhad gained preeminence in the bullion trade by this time.[13]From London in 1813 to 1815, Nathan Mayer Rothschild was instrumental inalmost single-handedly financing the British war effort, and theFrench war effort, financing the shipment of bullion to theDuke of Wellington's armies acrossEurope, as well as arranging the payment of British financialsubsidies to their Continental allies. In 1815 alone, theRothschilds provided £9.8 million (in 1815 currency, a huge sum intoday's money) in subsidy loans to Britain's continentalallies.[14]
One of the smaller city houses, Vienna. A collection of far largerViennese palaces known as Palais Rothschild were torn down during theSecond World War.The brothers helped co-ordinate Rothschild activities across thecontinent, and the family developed a network of agents, shippersand couriers to transport gold across war-torn Europe. The familynetwork was also to provide Nathan Rothschild time and again withpolitical and financial information ahead of his peers, giving himan advantage in the markets and rendering the house of Rothschildstill more invaluable to the British government. In one instance,the family network enabled Nathan to receive in London the news ofWellington's victory at the Battle of Waterloo a full day ahead of thegovernment's official messengers.[13]
Rothschild's first concern on this occasion was to the potentialfinancial advantage on the market which the knowledge would havegiven him; he and his courier did not immediately take the news tothe government.[13]See a partisan French pamphlet in 1846 by John Reeves in 1887 inThe Rothschilds: the Financial Rulers of Nations. It wasthen repeated in later popular accounts, such as that of Morton.[15][16]
The basis for the Rothschild's most famously profitable move wasmade after the news of British victory had been made public. NathanRothschild calculated that the future reduction in governmentborrowing brought about by the peace would create a bounce inBritish government bonds after a two year stabilisation, whichwould finalise the post-war re-structuring of the domesticeconomy.[14][15][16]In what has been described as one of the most audacious moves infinancial history, Nathan immediately bought up the government bondmarket, for what at the time seemed an excessively high price,before waiting two years, then selling the bonds on the crest ofshort bounce in the market in 1817 for a 40% profit. Given thesheer power of leverage the Rothschild family had at its disposal,this profit was an enormous sum.[14]
Nathan Mayer Rothschild initially started his business inManchester England in 1806, and gradually moved it to London, wherein 1809 he acquired the location at 2 New Court in St. Swithin'sLane, City of London,[13]where it operates today; he established N. M. Rothschild and Sons in 1811. In 1818, he arrangeda £5million loan to the Prussian government, and the issuing ofbonds for government loans formed a mainstay of his bank’sbusiness. He gained a position of such power in the City of London that by 1825–6 he was able tosupply enough coin to the Bank of England to enable it to avert amarket liquidity crisis.
International high finance
"I have not the nerve for hisoperations. They are well-planned, with great cleverness andadroitness in execution – but he is in money and funds whatNapoleon was in war." —BaronBaring on Nathan Rothschild[17] |
In 1816, four of the brothers were each elevated to thehereditary nobility by Austrian Emperor Francis I; moreover, a fifth brother, Nathan, waselevated in 1818. All of them were granted the Austrian title ofbaron or Freiherr on 29 September 1822. As such, somemembers of the family used "de" or "von" Rothschild to acknowledge the grant ofnobility. In 1847, Sir Anthony de Rothschild, wasmade a hereditary baronet of the United Kingdom. In 1885,Nathan Mayer Rothschild II(1840–1915) of the London branch of the family, was granted thehereditary peerage title Baron Rothschild in the Peerage of the United Kingdom.
The Frankfurt terminus of the Taunus railroad, financed by theRothschilds. Opened in 1840, it was one of Germany's firstrailroads.Rothschild family banking businesses pioneered internationalhigh finance during the industrialisation of Europe and wereinstrumental in supporting railway systems across the world and incomplex government financing for projects such as the Suez Canal. The family bought up a largeproportion of the property in Mayfair, London.
Major 19th century businesses founded with Rothschild familycapital include:
The family funded Cecil Rhodes in the creation of the Africancolony of Rhodesia. From the late 1880s onwards, thefamily took over control of the Rio Tinto mining company.
The Japanese government approached the London and Paris familiesfor funding during the Russo-Japanese War. The London consortium'sissue of Japanese warbonds would total £11.5million (at1907 currency rates; £902million in 2012 currencyterms).[19]
The name of Rothschild became synonymous with extravagance andgreat wealth, and the family was renowned for its art collecting,for its palaces, as well as for its philanthropy. By the end of thecentury, the family owned, or had built, at the lowest estimates,over 41 palaces, of a scale and luxury perhaps unparalleled even bythe richest royal families.[14]The soon to be British Prime Minister Lloyd George claimed, in 1909, that Lord Nathan Rothschild was themost powerful man in Britain.[3][20]
In 1901, with no male heir, the Frankfurt House closed its doorsafter more than a century in business. It was not until 1989 thatthe family returned, when N M Rothschild & Sons, the Britishinvestment arm, plus Bank Rothschild AG, the Swiss branch, set up arepresentative banking office in Frankfurt.
Englishbranch
Main article: Rothschild banking family ofEnglandThe Rothschild banking family of England was founded in 1798 byNathan Mayer Rothschild (born 1777).
Frenchbranches
Main article: Rothschild banking family of FranceChâteaude Ferrières, the largest Château of the 19th century,was built in 1854. It is set in a 30 km² estate. It was donated tocharity by the family in 1975.There are two branches of the family connected to France.
The first was son James Mayer de Rothschild (1792–1868), known as "James",who established de Rothschild Frères in Paris. Following the NapoleonicWars, he played a major role in financing the construction ofrailroads and the mining business that helped make France anindustrial power. James' sons Gustave de Rothschild andAlphonse James de Rothschild continued the bankingtradition and was the guarantor of the 5billionin reparations[21]demanded by the occupying Prussian army in the 1870s Franco-Prussian War.[citationneeded] By 1980, the Paris businessemployed about 2,000 people and had an annual turnover of26billion francs ($5 billion in the currencyrates of 1980).[22]But then the Paris business suffered a near death blow in 1982 whenthe Socialist government of François Mitterrand nationalized and renamed itCompagnie Européenne deBanque.[needs citation] Baron David de Rothschild, then 39, decided to stay andrebuild, creating a new entity Rothschild & Cie Banque with just threeemployees and $1million in capital. Today, theParis operation has 22 partners and accounts for a significant partof the global business. Ensuing generations of the Paris Rothschildfamily remained involved in the family business, becoming a majorforce in international investment banking. The Rothschilds havesince led the Thomson Financial League Tables in Investment BankingMerger and Acquisition deals in the UK, France and Italy.
James Mayer de Rothschild's other son, Edmond James de Rothschild (1845–1934) was very muchengaged in philanthropy and the arts, and was a leading proponentof Zionism. His grandson, Baron Edmond Adolphe de Rothschild, founded in 1953 theLCF Rothschild Group, a private bank. Since1997, Baron Benjamin de Rothschild chairs the group. Thegroup has €100bn of assets in 2008 and owns many wine properties inFrance (Château Clarke, Château des Laurets), in Australia or in South Africa.In1961, the 35 year old Edmond Adolphe de Rothschild purchased the companyClubMed, after he had visited a resort and enjoyed hisstay.[23][24]His interest in Club Med was sold off by the 1990s. In 1973, hebought out the Bank of California, selling his interests in1984 before it was sold to Mitsubishi Bank in 1985.
A Château of Baron Henri James de Rothschild's, ParisThe second French branch was founded by Nathaniel de Rothschild (1812–1870). Born inLondon he was the fourth child of the founder of the British branchof the family, Nathan Mayer Rothschild (1777–1836). In 1850,Nathaniel Rothschild moved to Paris, ostensibly to work with hisuncle, James Mayer Rothschild. However, in 1853 Nathaniel acquiredChâteau Brane Mouton, a vineyard in Pauillac in the Gironde département. NathanielRothschild renamed the estate, Château Mouton Rothschild and it would become one of thebest known labels in the world. In 1868, Nathaniel's uncle, JamesMayer de Rothschild acquired the neighboring Chateau Lafite vineyard.
Austrianbranch
Main article: Rothschild banking family ofAustriaGrüneburgschlößchen, Frankfurt, 1845, one of the Rothschilds'many German garden-mansions. This particular estate was destroyedin an allied bombing raid, 1944.In Vienna, Salomon Mayer Rothschild established a bank in the 1820sand the Austrian family had vast wealth and position.[25]The crash of 1929 brought problems, and Baron Louis von Rothschild attempted to shore up theCreditanstalt, Austria's largest bank, toprevent its collapse. Nevertheless, during World War II they had to surrender their bankto the Nazis and flee the country. Their Rothschild palaces, a collection of vastpalaces in Vienna built and owned by the family, were confiscated,plundered and destroyed by the Nazis. The palaces were famous fortheir sheer size, and for their huge collections of paintings,armour, tapestries, statues (some of which were restituted to theRothschilds by the Austrian government in 1999). All family membersescaped the Holocaust, some of them moving to the United States,and only returning to Europe after the war. In 1999, the governmentof Austria agreed to return to the Rothschild family some 250 arttreasures looted by the Nazis and absorbed into state museums afterthe war.
Naplesbranch
Villa Pignatelli, Naples, with views onto Mount VesuviusMain article: Rothschild banking family of NaplesThe C M de Rothschild & Figli bank arrangedsubstantial loans to the Papal States and to various Kings ofNaples plus the Duchy of Parma and the Grand Duchy of Tuscany.However, in the 1830s, Naples followed Spain with a gradual shiftaway from conventional bond issues that began to affect the bank'sgrowth and profitability. The Unification of Italy in 1861, with the ensuingdecline of the Italian aristocracy who had been the Rothschild'sprimary clients, eventually brought about the closure of theirNaples bank, due to declining forecasts for long-term businesssustainability. However, in the early 19th century, the Rothschildfamily of Naples built up close relations with the Vatican Bank, and the association between thefamily and the Vatican continued into the 20th century. In 1832,when Pope Gregory XVI was seen meeting Carl vonRothschild, observers were shocked that Rothschild was not requiredto kiss the Pope's feet, as was then required for all othervisitors to the Pope, including monarchs.[26]
“ | "Rothschilds... are the guardians of the papaltreasure." -Encyclopedia Judaica, 1901–1906, Vol. 2,p.497 | ” |
Jewish identity andpositions on Zionism
Jewish solidarity in the family was not homogeneous. SomeRothschilds were supporters of Zionism, while other members of the familyopposed the creation of the Jewish state. Some believed it wouldencourage anti-Semites to question the existing national identitiesof assimilated Jews around the rest of the world.[21]In 1917 Walter Rothschild, 2nd BaronRothschild was the addressee of the Balfour Declaration to the Zionist Federation,[27]which committed the British government to the establishment inPalestine of a national home for the Jewish people. Later, LordVictor Rothschild was against granting asylumor even help to Jewish refugees during the Holocaust.[21]
After the death of James Jacob de Rothschild in 1868, Alphonse Rothschild, his oldest son, who took over themanagement of the family bank, was the most active in support forEretz Israel.[28]The Rothschild family archives show that during the 1870s thefamily contributed nearly 500,000 francs per year on behalf ofEastern Jewry to the Alliance IsraéliteUniverselle.[29]Baron Edmond James de Rothschild, James Jacob de Rothschild's youngest son was apatron of the first settlement in Palestine at Rishon-LeZion, and bought from Ottomanlandlords parts of the land which now makes up present-day Israel.In 1924, he established the Palestine Jewish ColonizationAssociation (PICA), which acquired more than 125,000 acres(22,36km²) of land and set up businessventures.[30]In TelAviv, he has a road, Rothschild Boulevard, named after him as wellas various localities throughout Israel which he assisted infounding including Metulla, Zikhron Ya'akov, Rishon Lezion, and Rosh Pina. A park in Boulogne-Billancourt, Paris, the ParcEdmond de Rothschild (Edmond de Rothschild Park) is also namedafter its founder.[31]The Rothschilds also played a significant part in the funding ofIsrael's governmental infrastructure. James A. de Rothschild financed the Knesset building as a gift to the State ofIsrael[32]and the Supreme Court of Israel building was donatedto Israel by Dorothy de Rothschild.[33]Outside the President's Chamber is displayed the letter Mrs.Rothschild wrote to the then current Prime Minister Shimon Peres expressing her intention todonate a new building for the Supreme Court.[34]
Interviewed by Haaretz in 2010, Baron Benjamin Rothschild, a Swiss-basedmember of the banking family, said that he supported the peaceprocess: "I understand that it is a complicated business, mainlybecause of the fanatics and extremists – and I am talking aboutboth sides. I think you have fanatics in Israel... In general I amnot in contact with politicians. I spoke once with Netanyahu. I metonce with an Israeli finance minister, but the less I mingle withpoliticians the better I feel." On the subject of religiousidentity, he stated that he held an open-minded attitude: "We dobusiness with all kinds of countries, including Arab countries[...]My oldest daughter's boyfriend is a Saudi. He is a great guy and ifshe will want to marry him, she can."[35]
Modernbusiness
ChâteauLafite Rothschild, Bordeaux. Alongside Château Mouton Rothschild, it is perhaps the mostprestigious of the many Rothschild wine estatesThe family currently runs and has fully restored Spencer House, St. James's Park, LondonSince the late-19th century, the family has taken a low-keypublic profile, donating many famous estates, as well as vastquantities of art, to charity, keeping full anonymity about thesize of their fortunes, and generally eschewing conspicuousdisplays of wealth. Today, Rothschild businesses are on smallerscale than they were throughout the 19th century, although theyencompass a diverse range of fields, including: banking, assetmanagement, financial advice, wine, and charities.[36][37]
TheRothschild Group
Since 2003, a group of Rothschild banks have been controlled byRothschild Continuation Holdings, a Swiss-registered holdingcompany (under the chairmanship of Baron David René de Rothschild). Rothschild ContinuationHoldings is in turn controlled by Concordia BV, aDutch-registered master holding company. Concordia BV is managed byParis Orléans S.A., a French-registeredholding company.[38]Paris Orléans S.A. is ultimately controlled by RothschildConcordia SAS, a Rothschild's family holdingcompany.[39]Rothschild & Cie Banque controlsRothschild banking businesses in France and continental Europe,while Rothschilds Continuation Holdings AG controls a number ofRothschild banks elsewhere, including N M Rothschild & Sons in London. Twentypercent of Rothschild Continuation Holdings AG was sold in 2005 toJardine Strategic, which is a subsidiary of Jardine, Matheson & Co. of Hong Kong. InNovember 2008, Rabobank Group, the leading investment andcommercial bank in the Netherlands, acquired 7.5% of RothschildContinuation Holdings AG, and Rabobank and Rothschild entered intoa co-operation agreement in the fields of Mergers and Acquisitions (M&A) advisoryand Equity Capital Markets advisory in the food and agribusinesssectors.[40]It was believed that the move was intended to help RothschildContinuation Holdings AG gain access to a wider capital pool,enlarging its presence in East Asian markets.[41]
Paris Orléans S.A. is a financial holdingcompany listed on Euronext Paris and controlled by the Frenchand English branch of the Rothschild family. Paris Orléans is theflagship of the Rothschild banking Group and controls theRothschild Group’s banking activities including N M Rothschild & Sons and Rothschild & Cie Banque. It has over2000 employees. Directors of the company include Eric deRothschild, Robert de Rothschild, and Count Philippe deNicolay.[42]
N M Rothschild & Sons, Englishinvestment bank does most of its business as a mergers andacquisitions advisor. In 2004, the investment bank withdrew fromthe gold market, a commodity the Rothschild bankers had traded infor two centuries.[21]In 2006, it ranked second in UK M&A with dealstotalling $104.9billion.[43]In 2006, it publicly recorded a pre-tax annual profit of£83.2million with assets of£5.5billion.[44]
Today, the price of gold is still fixed, twice a dayat 10.30 am and 3.00 pm at the premises of N M Rothschild by theworld's main Bullion Houses - Deutsche Bank, HSBC, ScotiaMocatta and Societe Generale.Informally, the gold fixing provides a recognized rate that is usedas a benchmark for pricing the majority of gold products andderivatives throughout the world's markets. Every day at 1030 and1500 local time, five representatives of investment banks meet in asmall room at Rothschild's London headquarters on St Swithin'sLane. In the centre is the chairperson, who is by traditionappointed by the Rothschild bank, although the bank itself haslargely withdrawn from the trading.[45]
Edmond de Rothschild Group
In 1953, one Swiss member of the family, Edmond Adolphe de Rothschild (1926–1997), founded theLCF Rothschild Group (now Edmond de Rothschild Group), based in Geneva, with €100billion inassets, which today extends to 15 countries across the world.Although this Group is primarily a financial entity, specialisingin asset management and private banking, its activities also covermixed farming, luxury hotels, and yacht racing. Edmond de Rothschild Group'scommittee is currently being chaired by Benjamin de Rothschild, Baron Edmond'sson.
In late 2010, Baron Benjamin Rothschild said that the familyhad been unaffected by the financial crisis of 2007–2010, dueto their conservative business practices: "We came through it well,because our investment managers did not want to put money intocrazy things." He added that the Rothschilds were still asmall-scale, traditional family business, and took greater careover their clients' investments than American companies, adding:"The client knows we will not speculate with his money".[46][35]
Edmond de Rothschild group includes these companies.
RIT CapitalPartners
In 1980, Jacob Rothschild, 4th BaronRothschild resigned from N M Rothschild& Sons and took independent control of RothschildInvestment Trust (now RIT Capital Partners, one of the UK's largestinvestment trusts), which has reported assets of$3.4billion in 2008.[47]It is listed on London Stock Exchange. Lord Rothschild is alsoone of the major investors behind BullionVault, a gold tradingplatform.[48]
RIT Capital stores a significant proportion of its assets in theform of physical gold. Other assets include oil and energy-relatedinvestments.[49]
Investment
In 1991, Jacob Rothschild, 4th BaronRothschild founded J. Rothschild Assurance Group (nowSt. James's Place) with Sir Mark Weinberg. It is also listed onLondon Stock Exchange.[50]
In December 2009, Jacob Rothschild, 4th BaronRothschild invested $200million of hisown money in a North Sea Oil company.[51]
In January 2010, Nathaniel Philip Rothschild bought a substantial shareof the Glencore mining and oil company's marketcapitalization. He is also buying a large share of the aluminiummining company United Company RUSAL.[52]
During the 19th century, the Rothschilds controlled theRio Tinto mining corporation, and to this day,Rothschild and Rio Tinto maintain a close businessrelationship.
Wine
The name Rothschild has been associated with fine wines for acentury and a half.[53]In 1853 Nathaniel de Rothschild purchased Château Mouton Rothschild. In 1868 James Mayer de Rothschild purchase the neighbouringChâteau Lafite and renamed it Château Lafite Rothschild.
Today Rothschild family owns many wine estates: their estates inFrance include Château Clarke, Château Clerc-Milon, Château d'Armailhac, Château Duhart-Milon, Château Lafite Rothschild, Château de Laversine,Château des Laurets, Château L'Évangile, Château Malmaison, Château deMontvillargenne, Château Mouton Rothschild, Château de la Muette, Château Rieussec, Château Rothschildd'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 PremierGrand Cru in First Growth, the status referring to aclassification of wines primarily from the Bordeaux region ofFrance.
Art andcharity
The family once had one of the largest private art collectionsin the world, and a significant proportion of the art in theworld's public museums are Rothschild donations which weresometimes, in the family tradition of discretion, donatedanonymously.[54]
Culturalreferences
Rothschildschloss, WaidhofenThe Neo-Gothic Castle de HaarIn the words of the Daily Telegraph: "This multinationalbanking family is a byword for wealth, power – and discretion...The Rothschild name has become synonymous with money and power to adegree that no other family has ever matched."[55]While The Independent describes "an even oldertradition - the ability of the family to sustain their secretivefortune, which industry insiders count not in billions but intrillions, and keep it within the family. Secrecy has been ahallmark of the Rothschilds from the outset."[56]
The story of the Rothschild family has been featured in a numberof films. The 1934 Hollywood film titled The House of Rothschild, starringGeorge Arliss and Loretta Young, recounted the life of Mayer Amschel Rothschild. Excerpts from this film wereincorporated into the National Socialist (Nazi) propaganda filmDer ewige Jude (The Eternal Jew) without thepermission of the copyright holder. Another Nazi film DieRothschilds (also called Aktien auf Waterloo) wasdirected by Erich Waschneck in 1940. A Broadway musicalentitled The Rothschilds, covering the history of the familyup to 1818, was nominated for a Tony Award in 1971. Nathaniel Mayer ("Natty") Rothschild, 1stBaron Rothschild appears as a minor character in thehistorical-mystery novel Stone's Fall, by Iain Pears. The Rothschild name is mentionedby Aldous Huxley in his novel Brave New World, among many names ofhistorically affluent persons, scientific innovators, and others.The character, named Morgana Rothschild, played a relatively minorrole in the story. The name Rothschild used as a synonym forextreme wealth inspired the song "IfI Were a Rich Man", which is based on a song from theTevyethe 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 and20th centuries a synonym for seemingly endless wealth, neo-Gothicstyles, Byzantine splendour, and epicurean glamour.[57]The family also has lent its name to "le goût Rothschild," a suffocatinglyglamorous style of living whose decorative elements includeneo-Renaissance palaces, extravagant use of velvet and gilding,vast collections of armour and sculpture, a sense of Victorian horror vacui, and the highest masterworks ofart. Le goût Rothschild has much influenced interior designers suchas Robert Denning, Vincent Fourcade, and others.
"Yes, my dear fellow, it all amounts to this: in order to dosomething first you must be something. We think Dante great, and hehad a civilisation of centuries behind him; the House of Rothschildis rich and it has required much more than one generation to attainsuch wealth. Such things all lie much deeper than one thinks."
—JohannWolfgang von Goethe, October 1828[58]
This section requires expansion. |
Conspiracytheories
Over more than two centuries,[15][16]the Rothschild family has frequently been the subject of conspiracy theories.[59][60][61]These theories take differing forms, such as claiming that thefamily belongs to the Illuminati,[62]controls the world's wealth and financial institutions,[63][64]or encouraged wars between governments. Discussing this and similarviews, the historian Niall Ferguson wrote: "As we have seen,however, wars tended to hit the price of existing bonds byincreasing the risk that a debtor state would fail to meet itsinterest payments in the event of defeat and losses of territory.By the middle of the 19th century, the Rothschilds had evolved fromtraders into fund managers, carefully tending to their own vastportfolio of government bonds. Now having made their money, theystood to lose more than they gained from conflict. The Rothschildshad decided the outcome of the Napoleonic Wars by putting their financialweight behind Britain. Now they would sit on thesidelines."[65]
Prominentdescendants of Mayer Amschel Rothschild
For the family tree of the Rothschild family,see Genealogy of the Rothschild family.Prominent lineal descendants of Mayer Amschel Rothschildinclude amongst many others:
- Thisis an incomplete list, which may neverbe able to satisfy particular standards for completeness. You canhelp by expanding it with reliably sourcedentries.Baron David René de Rothschild, current French chairman of N MRothschild & Sons and formerly of DeBeers
Prominent marriages into the family include, amongst manyothers:
- Thisis an incomplete list, which may neverbe able to satisfy particular standards for completeness. You canhelp by expanding it with reliably sourcedentries.
[edit]See also
[edit]Notes
- ^ The House of Rothschild: Money's prophets,1798–1848, Volume 1, Niall Ferguson, 1999
- ^ The House of Rothschild: Money's prophets,1798–1848, Volume 1, Niall Ferguson, 1999, introduction
- ^ abcTheHouse of Rothschild: Money's prophets, 1798–1848, Volume 1,Niall Ferguson, 1999, page 481-85
- ^ The Independent, UK: TheRothschild story: A golden era ends for a secretivedynasty
- ^ abThesecret life of the Jazz Baroness, From The Times 11 April 2009,Rosie Boycott
- ^ Pohl, Manfred:Rothschild, MayerAmschel. In: Neue Deutsche Biographie (NDB).Band22. Duncker & Humblot, Berlin2005, p.131–133. (German)
- ^ "Concordia, Integritas,Industria – The Rothschilds – LCF Rothschild Group".Lcf-rothschild.com. Archived from the original on 24October 2007. http://web.archive.org/web/20071024114837/http://www.lcf-rothschild.com/en/groupe/rothschild/concordia.asp.Retrieved 8 July 2010.
- ^ Paul Johnson, A History of the Jews,(1988), p.314-315.
- ^ Paul Johnson, A History of the Jews,p.317.
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- ^ abc 1.[S37]Charles Mosley, editor, Burke's Peerage, Baronetage& Knightage, 107th edition, 3 volumes (Wilmington,Delaware, U.S.A.: Burke's Peerage (Genealogical Books) Ltd, 2003),volume 3, page 3416. Hereinafter cited as Burke's Peerage andBaronetage, 107th edition.
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- ^ Grand fortunes: dynasties of wealth inFrance, (Algora Publishing, 1998), By Michel Pinçon,Monique Pinçon-Charlot, Andrea Lyn Secara, page 124
- ^ Young love will cementmarriage of Britain's top three dynasties IngridMansell, The Times 21 April 2003
- ^ Carola W. Rothschild, Ex-GirlScout Official NY Times, Published: Tuesday, 1 September1987
- ^ DRUON Maurice, "Ces Messieurs de Rothschild",Paris 1966
- ^ Charles Mosley, editor, Burke's Peerage,Baronetage & Knightage, 107th edition, 3 volumes(Wilmington, Delaware, U.S.A.: Burke's Peerage (Genealogical Books)Ltd, 2003), volume 3, page 3417. Hereinafter cited as Burke'sPeerage and Baronetage, 107th edition.
- ^ Baron Etienne van Zuylen vanNijevelt van de Haar and baroness Hélène deRothschild
- ^ Charles Mosley, editor, Burke's Peerage,Baronetage & Knightage, 107th edition, 3 volumes(Wilmington, Delaware, U.S.A.: Burke's Peerage (Genealogical Books)Ltd, 2003), volume 3, page 3416. Hereinafter cited as Burke'sPeerage and Baronetage, 107th edition.
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