Part 8/10:
The genesis of the Belmont legacy can be traced back to the early Jewish community in Alsace, France, where Joseph Jessel, an influential figure, set the stage for the family's future success. Born in 1813, August Belmont grew amid loss, having relocated to Frankfurt after his mother’s death. His education, intertwined with the Rothschild family and their banking empire, established the foundations for his later success.
After a whirlwind ascent through the banking ranks that began in 1837, Belmont was crucial in salvaging not just his interests but those of the Rothschilds during a tumultuous economic period. This pivot marked his transition into power from the realm of finance to the theater of politics.