Financier and member of the Rothschild banking family, Lord Jacob Rothschild, died at 87. The cause of death was not given in a statement from the family.
"Our father Jacob was a towering presence in many peoples' lives - a superbly accomplished financier, a champion of the arts and culture, a devoted public servant, a passionate supporter of charitable causes in Israel and Jewish culture, a keen environmentalist and much-loved friend, father and grandfather," the family said in the statement.
The statement continued: "He will be buried in accordance with Jewish custom in a small family ceremony and there will be a memorial at a later date to celebrate his life."
Lord Rothschild began his career at the family-owned NM Rothschild & Sons bank in 1963. In 1980, he departed from the family bank to focus on Rothschild Investment Trust. This subsidiary, currently recognized as RIT Capital Partners Plc, ranks among the most prominent investment trusts in the UK.
Besides RIT, Rothschild co-founded J Rothschild Assurance Group, now called St James's Place, with Sir Mark Weinberg in 1980.
Since debuting on the London Stock Exchange in 1988, RIT has soared as much as 1,300%.
Rothschild has also been the deputy chairman at the then BSkyB Television and was also chairman of trustees at The National Gallery.
In 2019, Rothschild stepped down as RIT's chairman. His daughter, Hannah, 61, remained on the board of directors of the investment firm.
Let's revisit some of Rothschild's previous warnings: In 2015, he said, "The geopolitical situation is most dangerous since WWII." One year later, he again warned about the outcome of "what is surely the greatest experiment in monetary policy in the history of the world," and then again in August 2017, he cautioned that "share prices have in many cases risen to unprecedented levels at a time when economic growth is by no means assured." And in 2018, he said the new world order is at risk.
