Maurice de Hirsch 1 - Foundation of His Fortune

German philanthropist; born at Munich Dec. 9, 1831; died near Ersek-Ujvar, Hungary, April 21, 1896; eldest son of Baron Joseph von Hirsch, and grandson of Baron Jacob von Hirsch, by whom the family fortune was founded. Maurice de Hirsch received a good, plain education at Munich and Brussels. His mother, née Caroline Wertheimer of Frankfort, took care that he should have the best instruction in Hebrew and religion. His mind was very alert and quick of comprehension; but he did not possess the disposition of the student. While yet in his teens he took part in several business ventures. In 1855 Hirsch married Clara, eldest daughter of Senator Raphael Bischoffsheim of the firm of Bischoffsheim & Goldschmidt at Brussels, which had branches in London and Paris. Though only a clerk he soon became the master mind of this great international banking-house. Still, although he was the son-in-law of the senior member of the house, he never became a partner, for he was regarded as too enterprising and aggressive in his plans to suit the conservative ideas of the heads of the firm. Having inherited from his father and grandfather a considerable fortune, which was largely augmented by his wife's dowry, he embarked in railway enterprises on his own account in Austria, in the Balkans, and in Russia. A Brussels banking-firm which had secured from the Turkish government concessions for building a railway through the Balkans to Constantinople, was unable to carry the project through. Hirsch obtained control of these concessions, went to Constantinople, and, after tireless effort, succeeded in having them amended and renewed. This done, he formed a construction company and perfected arrangements for the building of this important railway, which was to connect Europe and the near East. The project was not looked upon with favor, but Baron Hirsch clearly saw its commercial value and advantages, won over sufficient cooperation, and personally superintended the enterprise, after having summoned the most skilful railway engineers of Europe to his assistance.

Until he had finished the railway, which, unlike previous Turkish enterprises, proved to be a great financial success, Hirsch was regarded as rather visionary and reckless. The substantial success which he achieved contrary to the predictions of conservative bankers, gained for him the reputation of being one of the leading captains of industry and financiers of Europe. He had a large view of affairs and was clear and quick of judgment.

Source: www.jewishencyclopedia.com

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* Historia: Argentina, Baron Maurice de Hirsch