The Rothschild family suffered an unexpected loss over the weekend.
Benjamin de Rothschild died on Friday afternoon as the result of a heart attack, the Washington Examiner reported. He was only 57 years old.
The company confirmed Rothschild’s passing in a statement released on Saturday. “It is with deep regret and great sadness that Edmond de Rothschild Group announces the passing of Benjamin de Rothschild following a heart attack at his home in Pregny (Switzerland) in the afternoon of 15 January 2021,” the statement reads.
He is survived by his wife, Ariane de Rothschild, and their four adult daughters.
Rothschild was the chairman of the Edmond de Rothschild Holding S.A. company, and had served in that role since 1997. According to Forbes, Rothschild’s net worth is estimated at $1.5 billion
The Swiss branch of the Rothschild banking dynasty was started by Benjamin’s father Edmond in 1953. Edmond went on to buy a private Swiss bank and eventually expanded into asset management.
Edmond’s parents brought the family to Switzerland, having fled there during World War II. From there, he turned his family into one of the richest families in the world. The Rothschild bank now does business in 15 different countries and at the end of 2019 had a little less than $200 billion in assets, according to its website, Bloomberg reported.
According to Bloomberg, Benjamin, during his 20 plus years as head of Edmond de Rothschild Holding S.A. “worked to simplify its structure after delisting.”
The company’s statement on Rothschild’s passing states that Benjamin, as its leader, developed the company “in an exceptional way.”
“Visionary entrepreneur, passionate about finance, speed, sailing and automobiles, wine enthusiast, Benjamin de Rothschild was also an active philanthropist, namely involved in developing innovation within the Adolphe de Rothschild Foundation Hospital,” the company’s statement continued. “With his unique character, Benjamin de Rothschild never ceased to transform and modernize his legacy, in line with the family’s values.”
“The thoughts of the Group’s employees go out to his wife Ariane de Rothschild and his children, as well as to all his family and loved ones, to whom they extend their most sincere condolences,” the company wrote.