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Rothschild banking family of Austria

November 01, 2023

The Rothschild banking family of Austria (Austrian German: Rothschild Bankiersfamilie) was founded by banker Salomon Mayer von Rothschild in 1820 in Vienna in what was then the Austrian Empire.

Arms of the Rothschild family

History edit

 
Rothschild family mausoleum at the Vienna Central Cemetery

Salomon Mayer had been sent to Austria from his home in Frankfurt by his father, Mayer Amschel Rothschild (1744-1812). Wanting his sons to succeed on their own and to expand the family business across Europe, Mayer Amschel Rothschild had his eldest son remain in Frankfurt, while his four other sons were sent to different European cities with the mission of establishing a financial institution to invest in business and provide banking services. Endogamy within the family was an essential part of the Rothschild strategy in order to ensure control of their wealth remained in family hands. Through their collaborative efforts, the Rothschilds rose to prominence in a variety of banking endeavours, including loans, government bonds and trading in bullion. Their financing afforded investment opportunities, and during the 19th century, they became major stakeholders in large-scale mining and rail transport ventures that were fundamental to the rapidly expanding industrial economies of Europe.

Salomon von Rothschild established S M von Rothschild, a banking and investment entity that would be highly successful, playing an integral role in the development of the Austrian economy. In 1836, the bank invested in and financed the building of the Nordbahn rail network, Austria's first steam railway. As well, it financed various government undertakings where large amounts of capital had to be raised.

In 1822, the five Rothschild brothers at the head of the family's banks in various parts of Europe were each granted the hereditary title of Freiherr (baron) in the Austrian nobility by Emperor Francis I of Austria.[1]

In 1929, the family's Creditanstalt was affected by the banking collapse that brought in the Great Depression.[2]

The Rothschild business empire in Austria was passed down to ensuing generations until the March 13, 1938 Anschluss of Austria to Nazi Germany, when the family was pressured to sell its banking operations at a fraction of its real worth. While other Rothschilds had escaped the Nazis, Baron Louis was imprisoned for a year and only released after a substantial ransom was paid by his family. This ransom was later used to finance the further murder of Jews seen as "lesser" than the Rothschilds. After Louis was allowed to leave the country, in March 1939, the Nazis placed the firm of S M von Rothschild under compulsory administration. Nazi officers and senior staff from Austrian museums also emptied the Rothschild family estates of all their valuables. Post-war, some of the family's assets were restored to the survivors, but others were not. In 1999, as a result of international Jewish pressure groups along with a determined personal effort by Bettina von Rothschild, the government of Austria returned some 250 Rothschild art treasures worth more than US$100 million. The artworks, which had been looted by the Nazis and placed in the Kunsthistorisches, the Albertina, the Leopold Museum and other state museums after World War II, were returned to the eldest surviving heir of two Vienna Rothschild brothers.

Further, in 2001, files involving more than 40,000 papers taken from the Rothschild family in Vienna by the Nazis, were voluntarily returned by the Russian government to them from the State Military Archive in Moscow. The Russian government inherited the papers from the Soviet Union which obtained the papers during the fall of Berlin during World War II. The documents are now part of the Rothschild Archive in London.[3]

With the 2012 death of Bettina Jemima Looram de Rothschild (1924-2012), the second child of Alphonse Mayer de Rothschild, the Austrian branch has become extinct in the male line, although there are numerous descendants through female lines.[4][5][6]

The historian Roman Sandgruber assessed in 2018: "The Austrian line of the family occupies a special position. It is the story of a fairytale rise .. to the largest bank of the Habsburg monarchy and a tragic decline in the economic turmoil of the interwar period and in the robbery of the National Socialists".[7]

Philanthropy edit

The Austrian Rothschilds and members of the other branches in Europe were all major contributors to causes in aid of the Jewish people. However, many of their philanthropic efforts extended far beyond Jewish ethnic or religious communities. They built hospitals and shelters for the needy, supported cultural institutions and were patrons of individual artists. Their donation of works of art to various galleries has been the largest of any family in history. At present, a research project is underway, by The Rothschild Archive in London, to document the family's philanthropic involvements.[8]

The business success of the Austrian Rothschilds allowed them to become great patrons of the arts and substantial contributors to philanthropic causes that include a major donation in 1844 to help build a polytechnic institution in Brno, the Rothschild Hospital built in 1869 by Anselm von Rothschild, the construction of a Vienna hospital for women in 1892, and the founding of psychiatric institutions in 1898 by Nathaniel Anselm von Rothschild.

Family members edit

For the family tree of the Rothschild family, see Genealogy of the Rothschild family.

Members of the Rothschild family of Austria include:

Rothschild properties edit

All branches of the Rothschild banking family are famous for their art collections and many for their palatial estates. Ferdinand James von Rothschild moved permanently to England to build Waddesdon Manor. In Austria-Hungary, the acquisition of property by branch founder Salomon Mayer Rothschild was especially significant because at the time Jews were barred from the purchase of real estate, except in designated areas. Among the Rothschild properties in Austria were:

See also edit

References edit

  1. ^ Constantin von Wurzbach (1874). Biographisches Lexikon des Kaiserthums Oesterreich (in German). Vienna: Zamarski. p. 120.
  2. ^ "The Rothschild History from 1914 to 1945". rothschild.com. Retrieved 2010-03-29. The crash of 1929 brought problems, not least in Austria where Louis von Rothschild struggled hard to shore up the Creditanstalt, Austria's largest bank, to prevent collapse.
  3. ^ "The Rothschild Archive". Rothschild Archive. Retrieved 2010-03-29. The papers of the Viennese Rothschilds were seized by the Nazis in 1938, and later taken by the Red Army to Moscow. They were handed to the Rothschild Archive in 2001.
  4. ^ "The Rothschild Archive :: Genealogy".
  5. ^ "Bettina Looram obituary". www.lootedart.com. Retrieved 2021-11-13.
  6. ^ "Dr. Alphonse Meyer de Rothschild". geni_family_tree. Retrieved 2021-11-13.
  7. ^ "Rothschild: Glanz und Untergang des Wiener Welthauses eBook : Sandgruber, Roman: Amazon.de: Kindle-Shop". Amazon Germany. Retrieved 2022-08-07.
  8. ^ "The Rothschild Archive". Rothschild Archive. Retrieved 2010-03-29.

Further reading edit

External links edit

November 01, 2023
rothschild, banking, family, austria, austrian, german, rothschild, bankiersfamilie, founded, banker, salomon, mayer, rothschild, 1820, vienna, what, then, austrian, empire, arms, rothschild, family, contents, history, philanthropy, family, members, rothschild. The Rothschild banking family of Austria Austrian German Rothschild Bankiersfamilie was founded by banker Salomon Mayer von Rothschild in 1820 in Vienna in what was then the Austrian Empire Arms of the Rothschild family Contents 1 History 2 Philanthropy 3 Family members 4 Rothschild properties 5 See also 6 References 7 Further reading 8 External linksHistory edit nbsp Rothschild family mausoleum at the Vienna Central CemeterySalomon Mayer had been sent to Austria from his home in Frankfurt by his father Mayer Amschel Rothschild 1744 1812 Wanting his sons to succeed on their own and to expand the family business across Europe Mayer Amschel Rothschild had his eldest son remain in Frankfurt while his four other sons were sent to different European cities with the mission of establishing a financial institution to invest in business and provide banking services Endogamy within the family was an essential part of the Rothschild strategy in order to ensure control of their wealth remained in family hands Through their collaborative efforts the Rothschilds rose to prominence in a variety of banking endeavours including loans government bonds and trading in bullion Their financing afforded investment opportunities and during the 19th century they became major stakeholders in large scale mining and rail transport ventures that were fundamental to the rapidly expanding industrial economies of Europe Salomon von Rothschild established S M von Rothschild a banking and investment entity that would be highly successful playing an integral role in the development of the Austrian economy In 1836 the bank invested in and financed the building of the Nordbahn rail network Austria s first steam railway As well it financed various government undertakings where large amounts of capital had to be raised In 1822 the five Rothschild brothers at the head of the family s banks in various parts of Europe were each granted the hereditary title of Freiherr baron in the Austrian nobility by Emperor Francis I of Austria 1 In 1929 the family s Creditanstalt was affected by the banking collapse that brought in the Great Depression 2 The Rothschild business empire in Austria was passed down to ensuing generations until the March 13 1938 Anschluss of Austria to Nazi Germany when the family was pressured to sell its banking operations at a fraction of its real worth While other Rothschilds had escaped the Nazis Baron Louis was imprisoned for a year and only released after a substantial ransom was paid by his family This ransom was later used to finance the further murder of Jews seen as lesser than the Rothschilds After Louis was allowed to leave the country in March 1939 the Nazis placed the firm of S M von Rothschild under compulsory administration Nazi officers and senior staff from Austrian museums also emptied the Rothschild family estates of all their valuables Post war some of the family s assets were restored to the survivors but others were not In 1999 as a result of international Jewish pressure groups along with a determined personal effort by Bettina von Rothschild the government of Austria returned some 250 Rothschild art treasures worth more than US 100 million The artworks which had been looted by the Nazis and placed in the Kunsthistorisches the Albertina the Leopold Museum and other state museums after World War II were returned to the eldest surviving heir of two Vienna Rothschild brothers Further in 2001 files involving more than 40 000 papers taken from the Rothschild family in Vienna by the Nazis were voluntarily returned by the Russian government to them from the State Military Archive in Moscow The Russian government inherited the papers from the Soviet Union which obtained the papers during the fall of Berlin during World War II The documents are now part of the Rothschild Archive in London 3 With the 2012 death of Bettina Jemima Looram de Rothschild 1924 2012 the second child of Alphonse Mayer de Rothschild the Austrian branch has become extinct in the male line although there are numerous descendants through female lines 4 5 6 The historian Roman Sandgruber assessed in 2018 The Austrian line of the family occupies a special position It is the story of a fairytale rise to the largest bank of the Habsburg monarchy and a tragic decline in the economic turmoil of the interwar period and in the robbery of the National Socialists 7 Philanthropy editThe Austrian Rothschilds and members of the other branches in Europe were all major contributors to causes in aid of the Jewish people However many of their philanthropic efforts extended far beyond Jewish ethnic or religious communities They built hospitals and shelters for the needy supported cultural institutions and were patrons of individual artists Their donation of works of art to various galleries has been the largest of any family in history At present a research project is underway by The Rothschild Archive in London to document the family s philanthropic involvements 8 The business success of the Austrian Rothschilds allowed them to become great patrons of the arts and substantial contributors to philanthropic causes that include a major donation in 1844 to help build a polytechnic institution in Brno the Rothschild Hospital built in 1869 by Anselm von Rothschild the construction of a Vienna hospital for women in 1892 and the founding of psychiatric institutions in 1898 by Nathaniel Anselm von Rothschild Family members editFor the family tree of the Rothschild family see Genealogy of the Rothschild family Members of the Rothschild family of Austria include Salomon Mayer von Rothschild 1774 1855 founder of the Austrian branch Anselm Salomon von Rothschild 1803 1874 Mathilde Hannah von Rothschild 1832 1924 Nathaniel Meyer von Rothschild 1836 1905 Ferdinand James von Rothschild 1839 1898 Albert Salomon Anselm von Rothschild 1844 1911 Alphonse Mayer von Rothschild 1878 1942 Ludwig Louis von Rothschild 1882 1955 Eugene Daniel von Rothschild 1884 1976 Jeanne Stuart von Rothschild 1908 2003 wife of Eugene Alice Charlotte von Rothschild 1847 1922 Rothschild properties editAll branches of the Rothschild banking family are famous for their art collections and many for their palatial estates Ferdinand James von Rothschild moved permanently to England to build Waddesdon Manor In Austria Hungary the acquisition of property by branch founder Salomon Mayer Rothschild was especially significant because at the time Jews were barred from the purchase of real estate except in designated areas Among the Rothschild properties in Austria were Villa Victoria Grasse Alpes Maritimes France Enzesfeld Castle Enzesfeld Lindabrunn Lower Austria Palais Rothschild the name of several properties in Vienna all of which were confiscated following the Anschluss Schloss Rothschild Reichenau an der Rax Lower Austria Rothschildschloss Waidhofen an der Ybbs Lower Austria Schillersdorf Castle Silherovice Czech SilesiaSee also editRothschild family Rothschild banking family of England Rothschild banking family of France Rothschild banking family of NaplesReferences edit Constantin von Wurzbach 1874 Biographisches Lexikon des Kaiserthums Oesterreich in German Vienna Zamarski p 120 The Rothschild History from 1914 to 1945 rothschild com Retrieved 2010 03 29 The crash of 1929 brought problems not least in Austria where Louis von Rothschild struggled hard to shore up the Creditanstalt Austria s largest bank to prevent collapse The Rothschild Archive Rothschild Archive Retrieved 2010 03 29 The papers of the Viennese Rothschilds were seized by the Nazis in 1938 and later taken by the Red Army to Moscow They were handed to the Rothschild Archive in 2001 The Rothschild Archive Genealogy Bettina Looram obituary www lootedart com Retrieved 2021 11 13 Dr Alphonse Meyer de Rothschild geni family tree Retrieved 2021 11 13 Rothschild Glanz und Untergang des Wiener Welthauses eBook Sandgruber Roman Amazon de Kindle Shop Amazon Germany Retrieved 2022 08 07 The Rothschild Archive Rothschild Archive Retrieved 2010 03 29 Further reading editThe Rothschilds a Family Portrait by Frederic Morton Atheneum Publishers 1962 ISBN 1 56836 220 X 1998 reprint The Rothschilds a Family of Fortune by Virginia Cowles Alfred A Knopf 1973 ISBN 0 394 48773 7 A History of the Jews by Paul M Johnson 1987 HarperCollins Publishers ISBN 5 551 76858 9 Rothschild The Wealth and Power of a Dynasty by Derek Wilson Scribner London 1988 ISBN 0 684 19018 4 House of Rothschild Money s Prophets 1798 1848 by Niall Ferguson Viking Press 1998 ISBN 0 670 85768 8 The House of Rothschild vol 2 The World s Banker 1849 1999 by Niall Ferguson Diane Publishing Co 1999 ISBN 0 7567 5393 7 The Rothschild Affair A Test of Austria s Conscience by Jason Edward Kaufman in the Wall Street Journal July 6 1999 p A13 1 Was einmal war A Handbook of Vienna s Plundered Art Collections by Sophie Lillie Czernin Verlag Vienna 2003 ISBN 3 7076 0049 1 Castello Velden Rothschild A castle house in Velden am Worthersee owned by Rothschild family Frederick John Edmund von Rothschild the current landowner in Velden am Worthersee according to Rothschild rankings External links editThe Rothschild Archive an international centre in London for research into the history of the Rothschild family The Musical Associations of the Rothschild Family by Charlotte Henriette de Rothschild Retrieved from https en wikipedia org w index php title Rothschild banking family of Austria amp oldid 1177448510, wikipedia, wiki, book, books, library,

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