History - OnThisDay - 16 September 1777 - Nathan Mayer Rothschild, banker, businessman and financier

Nathan Mayer Rothschild was born on 16 September 1777 in Frankfurt am Main
in Germany.

Nathan Mayer Rothschild, Source: Wikipedia

Family

He was one of the five sons of the second generation of the Rothschild banking
dynasty. His parents were Amschel Rothschild (1744-1812) and Gutle Schnapper
(1753-1849).

At the age of 21, in 1798, Nathan Mayer Rothschild moved to Manchester in
England where he founded a business in textile trading and finance. Later he
moved to London, where he made a fortune in trading bills of exchange through
a banking enterprise started in 1805.

Love and marriage

On 22 October 1806 he married Hannah Barent-Cohen, the daughter of
Levy Barent Cohen and Lydia Diamantschleifer. They would have 7 children.

Business

In 1809 Rothschild began to deal in gold bullion and he developed this as a
cornerstone of his business.

From 1811, he undertook to transfer money to pay Wellington's troops on
campaign in Portugal and Spain against Napoleon Bonaparte.

There also was a legend, although it wasn't proven at all, that Rothschild
used his early knowledge of the victory at the Battle of Waterloo to
speculate on the stock exchange and making a vast fortune.

In 1818, Nathan Mayer Rothschild was granted the noble status of Freiherr
by the Emperor. In 1838, Queen Victoria authorized the use of his Austrian
title in the United Kingdom by his male-line descendants.

Queen Victoria of the United Kingdom - Source: Wikipedia

In 1824, he founded the Alliance Assurance Company (now Royal & Sun
Alliance) with Moses Montefiore.

In 1830, Rothschild founded, along with other notable bankers, the
country of Belgium. He loaned them upwards of 3 million Belgian Franks.
He also became a confident of King Leopold I of Belgium.

King Leopold I of Belgium, painting at the National Bank in Brussels
own picture taken in 2012


He set up his London business N.M Rothschild and Sons at New Court in
St. Swithin 's Lane in the city of London, where it still trades today.


Death

On 28 July 1836, at the age of 58, Nathan Mayer Rothschild died from an
infected abscess. He and his wife are buried in the Brady Street Ashkenazi
Cemetery in Whitechapel.

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