Meyer Amschel Rothschild Forbes.com Staff 07.21.05, 12:00 PM ET Forbes.com readers and editors rankMeyer Amschel Rothschild as the seventh most influential businessman of all time. ( Read more to find out how Forbes.com ranked them.) Meyer Amschel Rothschild helped invent modern banking by introducing concepts such as diversification, rapid communication, confidentiality and high volume. The superlatively discreet foreign-exchange banker diversified from the very beginning, selling antiques and procuring loans. Remarkably, Rothschild was willing to cut into his own profits in order to secure future business. And, earlier than most, he understood that time and information meant money, and he pulled out all the stops to remain in constant contact with associates across Europe. That network came in handy when he helped finance England's war effort during the Napoleonic Wars. Rothschild institutionalized his bank with a far-sighted will that ensured the continuation of his business. Considered a founding father of international finance, his banking empire--thanks to his five sons--had expanded to London, Paris, Vienna and Naples at the time of his death. Check back with us at noon every business day in July as we countdown the 20 most influential businessmen of all time.Corporate Heirs: Merrill Lynch (nyse: MER - news - people),Lehman Bros. (nyse: LEH - news -people ), Bear Stearns (nyse: BSC - news- people ), Goldman Sachs (nyse: GS -news - people ) |
