Noted investment banker, businessman, and member of the Rothschild banking family, Lord Jacob Rothschild, passed away at the age of 87.
The Rothschild family, in a press release, called Lord Jacob "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."
Born in Berkshire in England in 1936, Jacob started his career at the family bank, NM Rothschild & Sons. Later, he co-founded J Rothschild Assurance Group.
He also founded investment trust RIT Capital Partners, which is one the largest investment trusts in the UK. He co-founded asset manager St. James’s Place Plc.
Jacob was also the deputy chairman at BSkyB Television and director of RHJ International.
A long-standing patron of the arts, he was the trustee of the National Gallery between 1985 and 1991.
He was awarded the Order of Merit by Queen Elizabeth II.
Britain's former culture minister, Ed Vaizey, paid tributes to him, calling him one of the country's greatest cultural philanthropists.
Waddesdon Manor, an English country estate managed by the Rothschild Foundation, described him a "businessman, entrepreneur, philanthropist and cultural leader"