Mayer Amschel Rothschild
Encyclopedia
Mayer Amschel Rothschild (23 February 1744 – 19 September 1812) was the founder of the Rothschild family international banking dynasty
that became the most successful business family in history. In 2005, he was ranked 7th on the Forbes magazine list of "The Twenty Most Influential Businessmen Of All Time". The business magazine referred to him as a "founding father of international finance".
(called "Judengasse
" or Jew Alley) in Frankfurt am Main, Germany
, one of eight children of Amschel Moses Rothschild
(d. 1755) and his wife Schönche Rothschild née Lechnich (d. 1756).
The ancestry of the Rothschilds can be traced back to 1577 to Izaak Elchanan Rothschild, whose name derived from the house he occupied in the Judengasse — zum roten Schild ("at the sign of the red shield"). His grandchildren and descendents took this name as the family name and kept it when they relocated in 1664 to another house in the Judengasse — Hinterpfann (literally "house in the back of the saucepan") — which became the family's home and business location through to the early 19th century.
The father of Mayer Amschel had a business in the trade of small goods and currency exchange. The family home above the shop had a front wall only 11 feet (3.4 m) wide, where more than 30 people lived at that time.
, Landgrave of Hesse-Kassel
in 1785. Business expanded rapidly following the French Revolution when Rothschild handled payments from Britain for the hire of Hessian mercenaries.
By the early years of the 19th century, Mayer Amschel Rothschild had consolidated his position as principal international banker to Wilhelm IX and began to issue his own international loans, borrowing capital from the Landgrave
.
In 1806, Napoleon invaded Hesse in response to Wilhelm's support for Prussia. The Landgrave went into exile in Schleswig-Holstein, but Rothschild was able to continue as his banker, investing funds in London. He also profited from importing goods in circumvention of Napoleon's continental blockade.
was sent to England to further the family interests in textile importing with £20,000 capital — the first foreign branch. Nathan became a naturalized citizen in 1804 and established a bank in the City of London. In 1810, Mayer entered into a formal partnership agreement with his three eldest sons. The youngest son Jacob was sent to Paris in 1811, enhancing the family's ability to operate across Europe. This enabled them to profit from the opportunity of financing Wellington's armies in Portugal, requiring the sourcing of large quantities of gold on behalf of the British government.
Mayer Amschel Rothschild died on 19 September 1812 in Frankfurt am Main. He was buried at the old Jewish cemetery in Frankfurt, located next to the Judengasse. His grave still exists. A park was named after him, also a street (Rothschildallee). In 1817 he was posthumously ennobled by the emperor Francis I of Austria.
His descendants furthered the family fortune across Europe — the "five arrows" of banking. Eldest son Amschel Mayer took over the Frankfurt bank and Salomon moved to Vienna. Nathan turned the London branch into one of Europe's most powerful banking institutions (N. M. Rothschild & Sons), Calmann (gentrified to "Carl") set up a branch in Naples and Jacob ("James") became a giant of finance in Paris.
Rothschild family
The Rothschild family , known as The House of Rothschild, or more simply as the Rothschilds, is a Jewish-German family that established European banking and finance houses starting in the late 18th century...
that became the most successful business family in history. In 2005, he was ranked 7th on the Forbes magazine list of "The Twenty Most Influential Businessmen Of All Time". The business magazine referred to him as a "founding father of international finance".
Biography
Meyer Amschel Rothschild was born in 1744 in the ghettoGhetto
A ghetto is a section of a city predominantly occupied by a group who live there, especially because of social, economic, or legal issues.The term was originally used in Venice to describe the area where Jews were compelled to live. The term now refers to an overcrowded urban area often associated...
(called "Judengasse
Frankfurter Judengasse
The Frankfurter Judengasse was the Jewish ghetto of Frankfurt and one of the earliest ghettos in Germany. It existed from 1462 until 1796 and was home to Germany's largest Jewish community in early modern times....
" or Jew Alley) in Frankfurt am Main, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, one of eight children of Amschel Moses Rothschild
Amschel Moses Rothschild
Amschel Moses Rothschild was an 18th century German Jewish moneychanger and trader in silk cloth in the ghetto in Frankfurt am Main, Germany....
(d. 1755) and his wife Schönche Rothschild née Lechnich (d. 1756).
The ancestry of the Rothschilds can be traced back to 1577 to Izaak Elchanan Rothschild, whose name derived from the house he occupied in the Judengasse — zum roten Schild ("at the sign of the red shield"). His grandchildren and descendents took this name as the family name and kept it when they relocated in 1664 to another house in the Judengasse — Hinterpfann (literally "house in the back of the saucepan") — which became the family's home and business location through to the early 19th century.
The father of Mayer Amschel had a business in the trade of small goods and currency exchange. The family home above the shop had a front wall only 11 feet (3.4 m) wide, where more than 30 people lived at that time.
Business career
He was apprenticed to the banking firm of Jakob Wolf Oppenheim in Hamburg, returning to business in Frankfurt in 1763. He became a dealer in rare coins and won the patronage of Crown Prince Wilhelm of Hesse, gaining the title of "Court Factor". Rothschild's coin business grew to include a number of princely patrons, and then expanded through the provision of banking services to Crown Prince Wilhelm, who became Wilhelm IXWilliam I, Elector of Hesse
William I, Elector of Hesse was the eldest surviving son of Frederick II, Landgrave of Hesse-Kassel and Princess Mary of Great Britain, the daughter of George II.-Early life:...
, Landgrave of Hesse-Kassel
Hesse-Kassel
The Landgraviate of Hesse-Kassel or Hesse-Cassel was a state in the Holy Roman Empire under Imperial immediacy that came into existence when the Landgraviate of Hesse was divided in 1567 upon the death of Philip I, Landgrave of Hesse. His eldest son William IV inherited the northern half and the...
in 1785. Business expanded rapidly following the French Revolution when Rothschild handled payments from Britain for the hire of Hessian mercenaries.
By the early years of the 19th century, Mayer Amschel Rothschild had consolidated his position as principal international banker to Wilhelm IX and began to issue his own international loans, borrowing capital from the Landgrave
Landgrave
Landgrave was a title used in the Holy Roman Empire and later on by its former territories. The title refers to a count who had feudal duty directly to the Holy Roman Emperor...
.
In 1806, Napoleon invaded Hesse in response to Wilhelm's support for Prussia. The Landgrave went into exile in Schleswig-Holstein, but Rothschild was able to continue as his banker, investing funds in London. He also profited from importing goods in circumvention of Napoleon's continental blockade.
Rothschild dynasty
In 1798, third son Nathan Mayer RothschildNathan Mayer Rothschild
Nathan Mayer, Freiherr von Rothschild , known as Nathan Mayer Rothschild, was a London financier and one of the founders of the international Rothschild family banking dynasty...
was sent to England to further the family interests in textile importing with £20,000 capital — the first foreign branch. Nathan became a naturalized citizen in 1804 and established a bank in the City of London. In 1810, Mayer entered into a formal partnership agreement with his three eldest sons. The youngest son Jacob was sent to Paris in 1811, enhancing the family's ability to operate across Europe. This enabled them to profit from the opportunity of financing Wellington's armies in Portugal, requiring the sourcing of large quantities of gold on behalf of the British government.
Mayer Amschel Rothschild died on 19 September 1812 in Frankfurt am Main. He was buried at the old Jewish cemetery in Frankfurt, located next to the Judengasse. His grave still exists. A park was named after him, also a street (Rothschildallee). In 1817 he was posthumously ennobled by the emperor Francis I of Austria.
His descendants furthered the family fortune across Europe — the "five arrows" of banking. Eldest son Amschel Mayer took over the Frankfurt bank and Salomon moved to Vienna. Nathan turned the London branch into one of Europe's most powerful banking institutions (N. M. Rothschild & Sons), Calmann (gentrified to "Carl") set up a branch in Naples and Jacob ("James") became a giant of finance in Paris.
Family
Mayer Amschel Rothschild married Guttle Schnapper (1753–1849), the daughter of Wolf Salomon Schnapper, on 29 August 1770. They had the following children:- Schönche Jeannette Rothschild (20 August 1771–1859) - married Benedikt Moses Worms (1772–1824)
- Amschel "Anselm" Mayer (12 June 1773 – 6 December 1855)
- Salomon MayerSalomon Mayer von RothschildSalomon Mayer von Rothschild was a German-born banker in the Austrian Empire and the founder of the Viennese branch of the prominent Mayer Amschel Rothschild family....
(9 September 1774 – 28 July 1855) - founder of the Rothschild banking family of AustriaRothschild banking family of AustriaThe Rothschild banking family of Austria was founded by Salomon Mayer von Rothschild in 1820 in Vienna in what was then the Austrian Empire.-History:... - Nathan MayerNathan Mayer RothschildNathan Mayer, Freiherr von Rothschild , known as Nathan Mayer Rothschild, was a London financier and one of the founders of the international Rothschild family banking dynasty...
(16 September 1777 – 18 July 1836) - founder of the Rothschild banking family of EnglandRothschild banking family of EnglandThe Rothschild banking family of England was founded in 1798 by Nathan Mayer von Rothschild who first settled in Manchester but then moved to London. Nathan was sent there from his home in Frankfurt by his father, Mayer Amschel Rothschild... - Isabella Rothschild (2 July 1781–1861)
- Babette Rothschild (29 August 1784 – 16 March 1869)
- Calmann "Carl" MayerCarl Mayer von RothschildCarl Mayer von Rothschild was a German-born banker in the Kingdom of the Two Sicilies and the founder of the Rothschild banking family of Naples....
(24 April 1788 – 10 March 1855) - founder of the Rothschild banking family of NaplesRothschild banking family of NaplesThe Rothschild banking family of Naples was founded by Calmann Mayer von Rothschild who was sent to the Kingdom of the Two Sicilies from Frankfurt am Main, Germany in 1821 by his father, Mayer Amschel Rothschild... - Julie Rothschild (1 May 1790 – 19 June 1815)
- Henriette ("Jette") (1791–1866) married Abraham Montefiore (1788–1824)
- Jacob "James" MayerJames Mayer de RothschildJames Mayer de Rothschild was a French banker and the original founder of the French branch of the Rothschild family.-Biography:...
(1792–1868) - founder of the Rothschild banking family of FranceRothschild banking family of FranceThe Rothschild banking family of France was founded in 1812 in Paris by James Mayer Rothschild . James was sent there from his home in Frankfurt, Germany by his father, Mayer Amschel Rothschild...