Mayer Amschel Rothschild
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| Mayer Amschel Rothschild | |
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| Born | 23 February 1744 Frankfurt-am-Main |
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| Died | 19 September 1812 (aged 68) Frankfurt-am-Main |
| Known for | Rothschild family |
| Spouse(s) | Guttle Schnapper (1753-1849) |
| Children | Schönche Jeannette Rothschild Amschel Mayer von Rothschild Salomon Mayer von Rothschild Nathan Mayer Rothschild Isabella Rothschild Babette Rothschild Carl Mayer von Rothschild Julie Rothschild Henriette Rothschild James Mayer de Rothschild |
| Parents | Amschel Moses Rothschild Schöenche Rothschild |
Mayer Amschel Rothschild (23 February 1744 – 19 September 1812) was the founder of the Rothschild family international banking dynasty that became one of the most successful business families in history. In 2005, he was ranked 7th on the Forbes magazine list of the The Twenty Most Influential Businessmen Of All Time. The business magazine referred to him as a "founding father of international finance".[1]
Meyer[2] Amschel Rothschild was born in 1744 in the ghetto (called "Judengasse" or Jew Alley) in Frankfurt am Main, Germany, one of eight children of Amschel Moses Rothschild (d. 1755) and his wife Schöenche Rothschild (d. 1756).[3]
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[edit] Business career
He was apprenticed to the banking firm of Jakob Wolf Oppenheim in Hamburg, returning to business in Frankfurt in 1763.[4] He became a dealer in rare coins and won the patronage of Crown Prince Wilhelm of Hesse, gaining the title of "Court Factor".[5] 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 IX, 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 also 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.[6]
[edit] Rothschild dynasty
In 1798 third son Nathan Mayer Rothschild 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 at Frankfurt-am-Main, and was buried in the Battonnstrasse cemetery in Frankfurt. In 1817 he was posthumously ennobled by the Austrian emperor.[7] 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.
[edit] Family
Mayer Amschel Rothschild married Guttle Schnapper on 29 August 1770.[8] 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 Mayer (9 September 1774 – 28 July 1855) - founder of the Rothschild banking family of Austria
- Nathan Mayer (16 September 1777 – 18 July 1836) - founder of the Rothschild banking family of England
- Isabella Rothschild (2 July 1781 – 1861)
- Babette Rothschild (29 August 1784 – 16 March 1869)
- Calmann "Carl" Mayer (24 April 1788 – 10 March 1855) - founder of the Rothschild banking family of Naples
- Julie Rothschild (1 May 1790 – 19 June 1815)
- Henriette ("Jette") (1791–1866) married Abraham Montefiore (1788–1824)
- Jacob "James" Mayer (1792–1868) - founder of the Rothschild banking family of France
[edit] References
- ^ Noel, Michael (2005-07-29). "The Twenty Most Influential Businessmen Of All Time". Forbes. Retrieved on 2007-07-14.
- ^ The Germanic form "Mayer" was used from 1802 instead of the original "Meyer" - Elon, p.108.
- ^ Elon, p.47; p.55.
- ^ Elon, p.59.
- ^ Elon, p.65.
- ^ Elon, p.153.
- ^ Elon, p.153.
- ^ Elon, p.66.
[edit] Sources
- Amos Elon (1996). Founder: Meyer Amschel Rothschild and His Time. HarperCollins. ISBN 0002557061.
