Rothschild Family Net Worth
Rothschild Family Net Worth: The Rothschild Family is a family of five sons and their father who created a banking empire and who have a net worth of $400 billion dollars. In the early 1800s, Mayer Amschel Rothschild's children traveled from Frankfurt, Germany, to several locations around Europe in order to better develop the global banking business that began with Mayer Amschel Rothschild himself. The sons moved to London, Paris, Vienna, and Naples, with one staying in Frankfurt, to establish the finance empire. During the mid-nineteenth century, the Rothschilds became the most successful global bankers of the time. In the 1850s, the family began constructing grand homes around Europe, but were not unaffected by political tensions of the time. The Unification of Italy forced the closure of the Naples branch of the bank. The first generation of bankers died out in 1868 with the passing of Baron James, but the family continued the finance legacy in London, Paris, Frankfurt, and Vienna. As industrialization swept the globe, the Rothschild family became involved in mining stones in India and Africa and hunting for oil in Russia. One of the second-generation Rothschilds, Edmond de Rothschild, began developing Jewish colonies in Palestine. The Frankfurt Rothschilds came to an end in 1901 as the result of not having a male heir. World War I provided new business opportunities for the family, but the empire was hit hard by the financial crisis of 1929, particularly in Vienna. The family's holdings in Austria were brought under Nazi control in the late 1930s. The Rothschild Family's interests recovered by the 1960s and they began working on expansion to the United States. The new focus allowed for the branding of London's Rothschild Inc. and N M Rothschild & Sons. As of today, the family's banks employ close to 3,000 people globally.