James Mayer de Rothschild
Encyclopedia
James Mayer de Rothschild (born Jakob Mayer Rothschild, 15 May 1792 in Frankfurt-am-Main, Germany
; died 15 November 1868 in Paris, France) was a French
banker and the original founder of the French branch
of the Rothschild family
.
(1744–1812). Mayer sent each of his five sons to a prominent European commercial centre in order to found branches of the family banking empire; de Rothschild therefore moved to Paris in 1811 and in 1817 expanded the family banking empire to the city, opening de Rothschild Frères. An advisor to two kings of France, he became the most powerful banker in the country and following the Napoleonic Wars, played a major role in financing the construction of railroads and the mining business that helped make France an industrial power. Along the way, he added to his fortune with investments in such things as the importation of tea and the purchase of a vineyard. A strong-willed and shrewd businessman, James de Rothschild amassed a fortune that made him one of the richest men in the world. Although his papers have never been disclosed, it is estimated that in today's money, James de Rothschild's personal fortune (not including the wealth of his other family members) may have been five times the fortune accumulated by Bill Gates
.
In 1822 James de Rothschild, along with his four brothers, was bestowed the hereditary title of "Freiherr
" (Baron) by Emperor Francis I of Austria. That same year he was appointed consul-general of the Austrian Empire
, and in 1823 was awarded the French Legion of Honor.
On 11 July 1824 in Frankfurt-am-Main, Germany
, James de Rothschild married Betty Salomon von Rothschild (1805–1886), daughter of his brother, Salomon Mayer von Rothschild
(1774–1855). They had the following children:
King Louis XVIII refused to receive James' wife at court because she was not Christian
. Thereafter Rothschild refused to do business with the king.
Following the July 1830 Revolution
that saw King Louis-Philippe
come to power, James de Rothschild put together a loan package to stabilize the finances of the new government, and in 1834 a second loan. In gratitude for his services to the French nation, Louis-Philippe elevated him to a grand officer of the Legion of Honor.
In 1817 James de Rothschild purchased Château Rothschild, Boulogne-Billancourt, where his children were born and reared. In 1838 he purchased from Charles Maurice de Talleyrand a large residence in Paris, at 2 rue Saint-Florentin on the Place de la Concorde
. It remained in the family until 1950, when it was sold to the United States government; today it serves as the consular section of the American Embassy.
James de Rothschild and his sophisticated Viennese wife were at the center of Parisian culture. The chef
for their lavish receptions was Antonin Carême
http://observer.guardian.co.uk/foodmonthly/story/0,9950,1058696,00.html. They patronized major personalities in the arts, including Gioacchino Rossini
, Frédéric Chopin
, Honoré de Balzac
, Eugène Delacroix
, and Heinrich Heine
. As an acknowledgment of the many years of patronage extended by Baron James and his wife Betty, in 1847 Chopin dedicated his Valse Op. 64, N° 2 in C sharp minor to their daughter Charlotte. In 1848 Jean Auguste Dominique Ingres
painted Betty de Rothschild's portrait
.
In February 1848, King Louis Philippe of France was dethroned, to the temporary alarm of his friend James de Rothschild. Banking competitor Achille Fould
was a friend of the new President of the French Republic, Napoleon III
, and for a time it appeared the Rothchilds might lose government patronage and influence. However, despite some difficulties, the family business survived and prospered under the new regime.
In 1854 James de Rothschild commissioned the famous architect Joseph Paxton
to build the Château de Ferrières
in Ferrières-en-Brie
, some 35 km east of Paris
. The property remained the home of his inheriting male descendants until 1975, when Guy de Rothschild
gifted it to the University of Paris
.
In addition to his banking business, in 1868 James de Rothschild purchased Château Lafite
, one of France's most outstanding vineyard
s. Located in the Bordeaux
region, it is a business that remains in the family to this day.
Beyond his business activities, James de Rothschild made the first significant acquisitions for what became the French family's massive art
collections. His art included Vermeer's
1668 work The Astronomer which remained in the family until it became the property of the Louvre
in the 1970s. He also used his enormous wealth for philanthropic
works and became a leader of the French Jewish community. James's contributions to France, along with those of his offspring can be found in many fields, including medicine and the arts.
Baron James de Rothschild died in 1868, just three months after purchasing the Chateau Lafite vineyard. According to the writings of his nephew Nathaniel
, 4,000 people passed through the Drawing room, 6,000 people stood in the court yard and the streets from the Rue Laffitte to the Père Lachaise cemetery were lined with onlookers. James de Rothschild had remained active in business throughout his life, expanding his continental railway interests so successfully that by the time of his death, the capital of the Paris house exceeded that of his other family members. In his book, The House of Rothschild (vol. 2) : The World's Banker: 1849-1999, Niall Ferguson
wrote that according to the records, in 1815 the asset base of the Paris house James Mayer de Rothschild founded amounted to £55,000; by 1852 the figure was £3,541,700 and just ten years after his death the Paris house was working from an asset base of £16,914,000.
Sons Alphonse and Gustave took control of the French business empire.
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...
; died 15 November 1868 in Paris, France) was a French
French people
The French are a nation that share a common French culture and speak the French language as a mother tongue. Historically, the French population are descended from peoples of Celtic, Latin and Germanic origin, and are today a mixture of several ethnic groups...
banker and the original founder of the French branch
Rothschild banking family of France
The 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...
of the Rothschild family
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...
.
Biography
James de Rothschild was the fifth son and youngest child of Mayer Amschel RothschildMayer Amschel Rothschild
Mayer Amschel Rothschild 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"...
(1744–1812). Mayer sent each of his five sons to a prominent European commercial centre in order to found branches of the family banking empire; de Rothschild therefore moved to Paris in 1811 and in 1817 expanded the family banking empire to the city, opening de Rothschild Frères. An advisor to two kings of France, he became the most powerful banker in the country and following the Napoleonic Wars, played a major role in financing the construction of railroads and the mining business that helped make France an industrial power. Along the way, he added to his fortune with investments in such things as the importation of tea and the purchase of a vineyard. A strong-willed and shrewd businessman, James de Rothschild amassed a fortune that made him one of the richest men in the world. Although his papers have never been disclosed, it is estimated that in today's money, James de Rothschild's personal fortune (not including the wealth of his other family members) may have been five times the fortune accumulated by Bill Gates
Bill Gates
William Henry "Bill" Gates III is an American business magnate, investor, philanthropist, and author. Gates is the former CEO and current chairman of Microsoft, the software company he founded with Paul Allen...
.
In 1822 James de Rothschild, along with his four brothers, was bestowed the hereditary title of "Freiherr
Freiherr
The German titles Freiherr and Freifrau and Freiin are titles of nobility, used preceding a person's given name or, after 1919, before the surname...
" (Baron) by Emperor Francis I of Austria. That same year he was appointed consul-general of the Austrian Empire
Austrian Empire
The Austrian Empire was a modern era successor empire, which was centered on what is today's Austria and which officially lasted from 1804 to 1867. It was followed by the Empire of Austria-Hungary, whose proclamation was a diplomatic move that elevated Hungary's status within the Austrian Empire...
, and in 1823 was awarded the French Legion of Honor.
On 11 July 1824 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...
, James de Rothschild married Betty Salomon von Rothschild (1805–1886), daughter of his brother, Salomon Mayer von Rothschild
Salomon Mayer von Rothschild
Salomon 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....
(1774–1855). They had the following children:
- CharlotteCharlotte de RothschildCharlotte de Rothschild was a French socialite, painter, and a member of the prominent Rothschild banking family of France. She was born in Paris, the daughter of Betty von Rothschild and James Mayer de Rothschild . Charlotte de Rothschild was raised by very wealthy parents who were at the center...
(1825–99) married Nathaniel de RothschildNathaniel de RothschildNathaniel de Rothschild, , known as "Nat," was the founder of the French wine-making branch of the Rothschild family.-Family:... - Mayer AlphonseAlphonse James de RothschildMayer Alphonse James Rothschild , was a French, financier, vineyard owner, art collector, philanthropist, racehorse owner/breeder and a member of the prominent Rothschild banking family of France.-Biography:...
(1827–1905) - Gustave Samuel (1829–1911)
- Salomon JamesSalomon James de RothschildSalomon James de Rothschild was the fourth child of James Mayer de Rothschild, head of the Paris branch of the prominent Rothschild family of bankers.- Misspent Youth :...
(1835–64) - Edmond BenjaminEdmond James de RothschildBaron Edmond Benjamin James de Rothschild was a French member of the Rothschild banking family. A strong supporter of Zionism, his generous donations lent significant support to the movement during its early years, which helped lead to the establishment of the State of Israel.- Early years :A...
(1845–1934)
King Louis XVIII refused to receive James' wife at court because she was not Christian
Christian
A Christian is a person who adheres to Christianity, an Abrahamic, monotheistic religion based on the life and teachings of Jesus of Nazareth as recorded in the Canonical gospels and the letters of the New Testament...
. Thereafter Rothschild refused to do business with the king.
Following the July 1830 Revolution
July Revolution
The French Revolution of 1830, also known as the July Revolution or in French, saw the overthrow of King Charles X of France, the French Bourbon monarch, and the ascent of his cousin Louis-Philippe, Duke of Orléans, who himself, after 18 precarious years on the throne, would in turn be overthrown...
that saw King Louis-Philippe
Louis-Philippe of France
Louis Philippe I was King of the French from 1830 to 1848 in what was known as the July Monarchy. His father was a duke who supported the French Revolution but was nevertheless guillotined. Louis Philippe fled France as a young man and spent 21 years in exile, including considerable time in the...
come to power, James de Rothschild put together a loan package to stabilize the finances of the new government, and in 1834 a second loan. In gratitude for his services to the French nation, Louis-Philippe elevated him to a grand officer of the Legion of Honor.
In 1817 James de Rothschild purchased Château Rothschild, Boulogne-Billancourt, where his children were born and reared. In 1838 he purchased from Charles Maurice de Talleyrand a large residence in Paris, at 2 rue Saint-Florentin on the Place de la Concorde
Place de la Concorde
The Place de la Concorde in area, it is the largest square in the French capital. It is located in the city's eighth arrondissement, at the eastern end of the Champs-Élysées.- History :...
. It remained in the family until 1950, when it was sold to the United States government; today it serves as the consular section of the American Embassy.
James de Rothschild and his sophisticated Viennese wife were at the center of Parisian culture. The chef
Chef
A chef is a person who cooks professionally for other people. Although over time the term has come to describe any person who cooks for a living, traditionally it refers to a highly skilled professional who is proficient in all aspects of food preparation.-Etymology:The word "chef" is borrowed ...
for their lavish receptions was Antonin Carême
Marie-Antoine Carême
Marie Antoine Carême , known as the "King of Chefs, and the Chef of Kings" was an early practitioner and exponent of the elaborate style of cooking known as haute cuisine, the "high art" of French cooking: a grandiose style of cookery favored by both international royalty and by the newly rich of...
http://observer.guardian.co.uk/foodmonthly/story/0,9950,1058696,00.html. They patronized major personalities in the arts, including Gioacchino Rossini
Gioacchino Rossini
Gioachino Antonio Rossini was an Italian composer who wrote 39 operas as well as sacred music, chamber music, songs, and some instrumental and piano pieces...
, Frédéric Chopin
Frédéric Chopin
Frédéric François Chopin was a Polish composer and virtuoso pianist. He is considered one of the great masters of Romantic music and has been called "the poet of the piano"....
, Honoré de Balzac
Honoré de Balzac
Honoré de Balzac was a French novelist and playwright. His magnum opus was a sequence of short stories and novels collectively entitled La Comédie humaine, which presents a panorama of French life in the years after the 1815 fall of Napoleon....
, Eugène Delacroix
Eugène Delacroix
Ferdinand Victor Eugène Delacroix was a French Romantic artist regarded from the outset of his career as the leader of the French Romantic school...
, and Heinrich Heine
Heinrich Heine
Christian Johann Heinrich Heine was one of the most significant German poets of the 19th century. He was also a journalist, essayist, and literary critic. He is best known outside Germany for his early lyric poetry, which was set to music in the form of Lieder by composers such as Robert Schumann...
. As an acknowledgment of the many years of patronage extended by Baron James and his wife Betty, in 1847 Chopin dedicated his Valse Op. 64, N° 2 in C sharp minor to their daughter Charlotte. In 1848 Jean Auguste Dominique Ingres
Jean Auguste Dominique Ingres
Jean-Auguste-Dominique Ingres was a French Neoclassical painter. Although he considered himself to be a painter of history in the tradition of Nicolas Poussin and Jacques-Louis David, by the end of his life it was Ingres's portraits, both painted and drawn, that were recognized as his greatest...
painted Betty de Rothschild's portrait
Baronne de Rothschild
Baronne de Rothschild is a 1848 oil and canvas portrait by the French Neoclassical artist Jean Auguste Dominique Ingres. The sitter, Betty de Rothschild had married banker James Mayer de Rothschild and was one of the wealthiest women in northern Europe, and one of the foremost Parisian patrons of...
.
In February 1848, King Louis Philippe of France was dethroned, to the temporary alarm of his friend James de Rothschild. Banking competitor Achille Fould
Achille Fould
Achille Fould was a French financier and politician.Born in Paris, the son of a successful Jewish banker, he was associated with and afterwards succeeded his father in the management of the business. As early as 1842 he entered political life, having been elected in that year as a deputy for the...
was a friend of the new President of the French Republic, Napoleon III
Napoleon III of France
Louis-Napoléon Bonaparte was the President of the French Second Republic and as Napoleon III, the ruler of the Second French Empire. He was the nephew and heir of Napoleon I, christened as Charles Louis Napoléon Bonaparte...
, and for a time it appeared the Rothchilds might lose government patronage and influence. However, despite some difficulties, the family business survived and prospered under the new regime.
In 1854 James de Rothschild commissioned the famous architect Joseph Paxton
Joseph Paxton
Sir Joseph Paxton was an English gardener and architect, best known for designing The Crystal Palace.-Early life:...
to build the Château de Ferrières
Château de Ferrières
Château de Ferrières is a French château built between 1855 and 1859 by Baron James de Rothschild in the Goût Rothschild. Rothschild ownership of the Château de Ferrières was passed down through the male line according to the rule of primogeniture...
in Ferrières-en-Brie
Ferrières-en-Brie
Ferrières-en-Brie is a commune in the Seine-et-Marne department in the Île-de-France region in north-central France.-Geography:Ferrières-en-Brie is located east of Paris, on the Brie plateau, between the Seine river and Marne river valleys.-Castle:...
, some 35 km east of Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
. The property remained the home of his inheriting male descendants until 1975, when Guy de Rothschild
Guy de Rothschild
Baron Guy Édouard Alphonse Paul de Rothschild was a French banker and member of the Rothschild family. He chaired the bank Rothschild Frères from 1967 to 1979, when it was nationalized by the French government, and maintained possessions in other French and foreign companies including Imerys...
gifted it to the University of Paris
University of Paris
The University of Paris was a university located in Paris, France and one of the earliest to be established in Europe. It was founded in the mid 12th century, and officially recognized as a university probably between 1160 and 1250...
.
In addition to his banking business, in 1868 James de Rothschild purchased Château Lafite
Château Lafite-Rothschild
Château Lafite Rothschild is a wine estate in France, owned by members of the Rothschild family since the 19th century. The name Lafite comes from the Gascon term "la hite" meaning "small hill"....
, one of France's most outstanding vineyard
Vineyard
A vineyard is a plantation of grape-bearing vines, grown mainly for winemaking, but also raisins, table grapes and non-alcoholic grape juice...
s. Located in the Bordeaux
Bordeaux
Bordeaux is a port city on the Garonne River in the Gironde department in southwestern France.The Bordeaux-Arcachon-Libourne metropolitan area, has a population of 1,010,000 and constitutes the sixth-largest urban area in France. It is the capital of the Aquitaine region, as well as the prefecture...
region, it is a business that remains in the family to this day.
Beyond his business activities, James de Rothschild made the first significant acquisitions for what became the French family's massive art
Art
Art is the product or process of deliberately arranging items in a way that influences and affects one or more of the senses, emotions, and intellect....
collections. His art included Vermeer's
Johannes Vermeer
Johannes, Jan or Johan Vermeer was a Dutch painter who specialized in exquisite, domestic interior scenes of middle class life. Vermeer was a moderately successful provincial genre painter in his lifetime...
1668 work The Astronomer which remained in the family until it became the property of the Louvre
Louvre
The Musée du Louvre – in English, the Louvre Museum or simply the Louvre – is one of the world's largest museums, the most visited art museum in the world and a historic monument. A central landmark of Paris, it is located on the Right Bank of the Seine in the 1st arrondissement...
in the 1970s. He also used his enormous wealth for philanthropic
Philanthropy
Philanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...
works and became a leader of the French Jewish community. James's contributions to France, along with those of his offspring can be found in many fields, including medicine and the arts.
Baron James de Rothschild died in 1868, just three months after purchasing the Chateau Lafite vineyard. According to the writings of his nephew Nathaniel
Nathaniel de Rothschild
Nathaniel de Rothschild, , known as "Nat," was the founder of the French wine-making branch of the Rothschild family.-Family:...
, 4,000 people passed through the Drawing room, 6,000 people stood in the court yard and the streets from the Rue Laffitte to the Père Lachaise cemetery were lined with onlookers. James de Rothschild had remained active in business throughout his life, expanding his continental railway interests so successfully that by the time of his death, the capital of the Paris house exceeded that of his other family members. In his book, The House of Rothschild (vol. 2) : The World's Banker: 1849-1999, Niall Ferguson
Niall Ferguson
Niall Campbell Douglas Ferguson is a British historian. His specialty is financial and economic history, particularly hyperinflation and the bond markets, as well as the history of colonialism.....
wrote that according to the records, in 1815 the asset base of the Paris house James Mayer de Rothschild founded amounted to £55,000; by 1852 the figure was £3,541,700 and just ten years after his death the Paris house was working from an asset base of £16,914,000.
Sons Alphonse and Gustave took control of the French business empire.