Amazing Entrepreneurs & Business People: A2 - Helen Parker

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a lot about his business. I learned how to buy and sell at the best price.

      My father wanted me to learn to read and write. He also wanted me to learn useful business skills. So, in 1757, I was sent to Hanover to train with Jacob Wolf Oppenheimer, a banker.

      In Hanover, I learned all about banking. I was a quick learner and very good at mathematics. I learned that it wasn’t enough to keep money in the bank. You also needed to use money and make good investments. I listened to the bank’s richest clients. They knew many interesting ways to become rich.

      The bank also owned a lot of rare coins and I became very interested in them. When I returned to Frankfurt, I started to buy and sell rare coins.

      Soon my business was doing well and Prince William of Hesse became my client. The prince introduced me to many of his rich and powerful friends and they became clients, too.

      In 1785, the prince became King William the Ninth of Hesse. He and his friends often asked for my advice about money. They paid me well to make good investments for them. I often went to other countries and found the best investments. I took many risks, but I did well. I made a lot of money for my clients and myself. In this way, I became the international banker for many powerful people.

      By that time, I had a wife and children. I married Guttle Schnapper in 1770, and we had ten children – five boys and five girls. I trained my boys in the business when they were very young. For our family, banking was more than a job. It was our family fortune and we had to protect it.

      I could see that the world was changing and I discovered many new opportunities for our business. The United States of America was created in 1776. It was a new country and it needed a national bank. In 1791, I became the main shareholder in the Bank of the United States. And, in 1804, when Napoleon Bonaparte became Emperor of France, many European governments were frightened. Napoleon wanted to expand his empire and rule other countries. These governments borrowed a lot of money from me to pay for soldiers to fight against Napoleon.

      For our family, business was a kind of war. We always needed to protect ourselves and find new opportunities. My sons, who were now well trained, helped me to expand the Rothschild empire.

      My eldest son, Amschel, became the head of our business in Frankfurt. He also became the head of the Rothschild empire when I died. My second son, Salomon, started a bank in Vienna, Austria. The government borrowed a lot of money from our bank to build the first railways in Austria.

      Nathan, my third son, went to Manchester in England in 1798. At first, he started a company, which bought and sold goods. Then, in 1811, he opened our bank in London and made a fortune from gold and currency exchange.

      My other two sons also started banks. Carl, my fourth son, started a banking business in Naples in Italy. And my fifth son, James opened our banking business in Paris, France, in 1812.

      We borrowed and lent money to other companies and governments. We bought and sold gold and other valuable metals. We made it easier for countries to sell goods and services to each other. And our business grew and grew. It became one of the richest and most powerful banks in history.

      We did everything we could to protect our fortune. We kept our money within our family and we invested in land and fine houses. I was one of the richest men in the world, but I was always afraid. Governments could change and we could lose our fortune at any time. At the end of my life in 1812, I asked myself the question, ‘Will the Rothschild empire survive?’

       The Life of Mayer Amschel Rothschild

1744 Mayer Amschel Rothschild was born in the city of Frankfurt in Hesse. He was the fourth of eight children. He helped his father in his small business.
1757 He started to train with Jacob Wolf Oppenheimer, who owned a bank in Hanover.
1763 Mayer returned to Frankfurt and started his own business. He bought and sold rare coins.
1769 Prince William of Hesse became a client. He introduced many important clients to Mayer’s business.
1770 Mayer married Guttle Schnapper. They later had five sons and five daughters.
1773 Their first son, Amschel, was born. He later became the head of the Rothschild empire after Mayer died.
1774 Salomon, their second son, was born. In 1820, he started the family business in Vienna, Austria.
1777 The third son, Nathan, was born. In 1798, he started a business in Manchester, England. In 1811, he started the family’s banking business in London, England.
1785 Prince William of Hesse became King William the Ninth. Mayer became the banker for the King and many of his friends.
1788 Mayer’s fourth son, Carl, was born. In 1821 he moved to Naples in Italy and started the family’s banking business there.
1791 Mayer became the biggest shareholder in the new Bank of the United States.
1792 His fifth son, James, was born. In 1812, he started the family business in Paris, France.
1804 Many European governments borrowed money from the Rothschilds to pay for wars against Napoleon.
1812 Mayer died in Frankfurt. He was 68 years old. His sons continued to expand the Rothschild empire.

       Cornelius Vanderbilt 1794–1877 the man who became one of the richest people in the USA

       My first success in business was with ferries and steamships. I bought many lines and opened new ones. I then did the same with railways. I became one of the richest businessmen in the history of the USA.

      My family came from the Netherlands to New York, USA, in 1650. I was born on Staten Island, which is close to Manhattan, the main island of New York City. I left school when I was 11 years old. I went to work with my father, who had his own ferry business between Staten Island and Manhattan. I collected money from passengers and did other small jobs.

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