Lord Jacob Rothschild: famed financier and philanthropist dies aged 87

Lord Jacob Rothschild, the famed financier and member of the famous Rothschild family, has died at the age of 87.

Lord Rothschild's death was confirmed by his family in a statement. The statement read: “Our father Jacob was a towering presence in many people’s 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. 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.”

The philanthropist's famous family has a reported net worth of £825m according to the Sunday Times Rich List. The family also reportedly gives away around £66m to Jewish charities and causes, including those in education and the arts.

Lord Rothschild began his career in banking at the family bank, NM Rothschild & Sons, in 1963. He then went on to control the Rothschild Investment Trust and later co-founding the J Rothschild Assurance Group. He was educated at Eton College before moving on to study history at Christ Church, Oxford.

The Rothschild Foundation, of which Lord Rothschild was chair, confirmed that his daughter Hannah would take over the role. The foundation said: “Jacob Rothschild was an extraordinary person and his loss will be felt by many. The family is committed to continuing his legacy and the foundation which he loved and endowed."