Jacob Rothschild dies aged 87

Lord Jacob Rothschild passed away at the age of 87, his family announced on Monday.

In a statement to the PA news agency on Monday, the Rothschild family said, "Our father Jacob was a strong presence in the lives of many people," and that "he will be buried according to Jewish customs in a small family ceremony."

In a tweet on X, the Rothschild Foundation said that it "with deep sorrow announces the death of Lord Rothschild, entrepreneur, businessman, philanthropist, and cultural leader."

"He will be greatly missed by his family, his colleagues, and his many friends," it added.

For decades the Rothschild family has owned a luxurious villa in North Corfu, on a vast estate in the area of Kerasia.

The value of the estate occupied by the villa belonging to the Rothschilds, a well-known banking family, amounts to many millions of Euros, and has hosted several kings of states, as well as celebrities, during the summer months.

The villa was the beloved summer retreat of Princess Diana, while King Charles and the family of the Prince of Wales have been hosted several times in this unique corner of the island.