The secret of billionaires

Across centuries, the House of Rothschild have wielded unprecedented dominance, blending familial solidarity and relentless profit-seeking. From modest roots, they rise to influence international finance, wars, and politics, and become the most formidable banking dynasty of their age. The Rothschild Banking Dynasty has an unlikely origin, an 18th century ghetto in Frankfurt, Germany. Like many of his time, Mayer Amshill Rothschild can't own land or farms due to his race. So he follows his family's path and becomes a textile trader. The ghetto was not very encouraging. Shops spilled heaps of secondhand clothes and soiled household goods into the alley. Frankfurt Juws are barred from farming, from handicrafts, even from dealing in nobler goods such as weapons, silk, or fresh fruit.

Mayer Rothschild quickly grows discontented with trading textiles and becomes eager to explore other ventures, ones that offer higher profit margins. He soon discovers that trading gold coins and antiques could be much more lucrative. Mayer Rothschild quickly establishes himself as a shrewd trader and uncovers a brilliant strategy known today as front running. He worked as a court agent, much like today's stockbrokers. His main client was Prince William of Hesse-Kastle. Whenever William wanted to purchase gold coins, he would ask Mayer Rothschild to obtain them from the market.He would first buy the coins using borrowed money, then sell them to Prince William, effectively acting as both the buyer and the seller. This practice is known as front running in modern terms. In doing so, he profited twice, once from the 8% commission fee, and also from front running, Prince William.By 1782, Mayer Rothschild has amassed a colossal fortune and earns the position as the investment manager for Prince William's vast wealth.

But for Mayer Rothschild, it's just the beginning. To truly create a strong footing in the world of finance, he must evolve into a bank. Often when traders and court agents accumulated significant wealth through their financial dealings, they sought greater recognition and respectability. Transitioning into banking was a way to gain legitimacy and credibility. Getting into banking proves genius for Mayer.

By the close of the 1700s, he's the richest man in Frankfurt. But still, for Mayer Rothschild, it isn't enough. He envisions a legacy beyond wealth. A family dynasty that stands the test of time, outlasting nations and empires. To me, it's always what's next. And I think that's what drives most very successful people. It's never about the money. I mean, that's a way of keeping score. It's about the money. I mean, that's a way of keeping score. It's about achievement and it's about winning a game and it's about upping the ante. To do that, he knows he needs to think bigger than just Frankfurt or even Prussia. To expand, he dispatches four of his five sons to the great capitals of Europe, Vienna, Naples, Paris, and the Jewel of the empire, London. In the early 1800s, Great Britain stands as a global superpower with a vast empire across continents. With the British Royal Navy unmatched, the seas are theirs. The Industrial Revolution is transforming the economy, making Britain an industrial and manufacturing powerhouse. The financial sector centered in London is robust, with the establishment of the Bank of England in 1694. London becomes a global financial center. Mayer Rothschild has built a thriving banking business in Frankfurt, but he realizes to sustain the long-term prosperity of the family, he needs to expand to different major cities in Europe, including sending his third son to London, England. His name is Nathan Rothschild. For Nathan Rothschild, the pressure is immense. He feels compelled to demonstrate to his father that he is equally capable of upholding the family legacy. Nathan was a fiercely ambitious and competitive man, as quick to take offense as to give it in his business dealings.Throughout history, the Rothschild family was often not hesitant about making more money. But when it comes to maintaining family legacy, they were able to let go of those opportunities. This kind of long-term view is both respected and scary.