News, analysis and personal reflections on the markets & the financial sector

Monday, February 23, 2009

This Day in Wall Street History 1743 : Mayer Amschel Rothschild is born

February 23rd marks the birthday of Mayer Amschel Rothschild, founder of Europe's most prominent banking empire. Born in Frankfurt, Germany, in 1743, Mayer Rothschild was initially groomed to become a rabbi, rather than a banking bigwig. But, the early passing of his parents led Rothschild to enter the realm of high finance, first as an apprentice to a bank. He rapidly ascended to the upper regions of the banking world, and, along with his five sons who were stationed in spots around Europe, set about establishing the Rothschild name. The family exploited the French Revolution and other upheavals in Europe for their financial gain, serving as key lenders to royal families, as well as agents for the trade (both official and illegal) of various goods. By the time Mayer Rothschild passed away in 1812, he had laid the groundwork for his family's dominance, which became more pronounced through their growing involvement in government finance, as well as their savvy investments in assorted sectors of the Industrial Revolution.

Source: www.history.com

1 comment:

Unknown said...

Thank the Most High that this family had such a father, though none of us are perfect, they have show us the power of family beyond 4 generations. They have shown the wisdom of Torah in their business ability. They have worked with kings, and leader, and thus aided all of us, and made a profit do it. Blessings, may they because of Mayer Rothschild be continual blessed. Benjamin Vela