Warburg family
Encyclopedia
The Warburg family is a financial dynasty of German Jewish origin, noted for their accomplishments in physics
, classical music
, art history
, pharmacology
, physiology
, finance
, private equity
and philanthropy
. They are believed to be descended from the Venetian Jewish del Banco family, in the early 1500s one of the wealthiest Venetian families. The Warburgs fled from Italy
to Warburg
in Germany
in the 16th century before moving to Altona
, near Hamburg
in the 17th century. They took their surname from the city of Warburg
. The brothers Moses Marcus Warburg (1763 - 1830) and Gerson Warburg (1765 - 1826) founded the M.M.Warburg & CO banking company in 1798 that is still in existence. Moses Warburg's great-great grandson, Siegmund George Warburg
, founded the investment bank S. G. Warburg & Co in London in 1946. Siegmund's second cousin, Eric Warburg, founded Warburg Pincus
in New York in 1938. Eric Warburg's son Max Warburg (not to be confused with Eric's father Max Warburg
) is currently one of the three partners of M.M.Warburg & CO. Warburg M.M.Warburg & CO. The Warburg family created the following investment banks: M.M.Warburg & CO, Warburg Pincus
, S. G. Warburg & Co.
. Max Warburg's elder brother Aby Warburg
used his money to establish the Kulturwissenschaftliche Bibliothek Warburg in Hamburg, since 1934 The Warburg Institute
in London. Paul Warburg
is most famous as the architect of the US monetary regime, the Federal Reserve System
established in 1913.
Siegmund George Warburg
was of the Alsterufer line; the five brothers Abraham (Aby) M., Max M., Paul M., Felix M. and Fritz Moritz Warburg were of the Mittelweg line.
emigrated to the United States. Felix Warburg married Frieda Schiff, daughter of Jacob H. Schiff, a banker and philanthropist. Felix Warburg's house in New York City
is now the Jewish Museum
. His brother Paul married Nina Loeb, daughter of Solomon Loeb
. He is seen as the "father" of the U.S. Federal Reserve System
.
Beginning in 1933, Max Warburg
served directly under Hjalmar Schacht
on the board of the Reichsbank, under the Nazi regime, before emigrating in 1938.
Max Warburg served on the board of directors of Interessen Gemeinschaft Farben or I.G. Farben, the giant German chemical firm that produced Zyklon B
gas used in Nazi extermination camps. His brother Paul Warburg served on the board of directors of I.G. Farben's wholly owned American subsidiary. (However, Paul Warburg died in January of 1932, before Hitler was elected Chancellor.) The Kilgore Committee Report
of 1942 indicated that all I.G. Farben board members had precise and prior knowledge that Zyklon B was being used to murder civilians in concentration camps, with no attempt made to halt production of the gas after such murders were understood. I.G. Farben was crucially instrumental in funding the rise to power of the Nazi Party, and also in building up the industrial and war-making capabilities of Germany once the Nazis were in power while simultaneously attempting to restrict industrial production materials to countries marked for invasion by Nazi Germany, all of this to such a degree that all German board members other than Max Warburg were charged after World War II as war criminals.
Virtually all members of the German Warburg family had fled to the United States or Great Britain by 1938. However, two cousins, mother and daughter Gerta and Betty Warburg, stayed in Altona. They were murdered in the Sobibor extermination camp
in 1940. Eric Warburg, son of Max Warburg
, returned to Germany and was influential in restoring Germany's reputation after the Second World War. Eric's son, also called Max, is currently a partner in M.M. Warburg & CO. in Hamburg.
, at which point they bore the surname del-Banco. The historical documents describe Anselmo del Banco as Jewish and as having been one of the wealthiest residents of Venice in the early 1500s. In 1513, del Banco was granted a charter by the Venetian government permitting the lending of money with interest. Del Banco left with his family after new restrictions were placed upon the Jewish community coinciding with the establishment of a Ghetto. The family settled in the German town of Warburg, and adopted that town's name as their own surname.
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Scientists
Physics
Physics is a natural science that involves the study of matter and its motion through spacetime, along with related concepts such as energy and force. More broadly, it is the general analysis of nature, conducted in order to understand how the universe behaves.Physics is one of the oldest academic...
, classical music
Classical music
Classical music is the art music produced in, or rooted in, the traditions of Western liturgical and secular music, encompassing a broad period from roughly the 11th century to present times...
, art history
Art history
Art history has historically been understood as the academic study of objects of art in their historical development and stylistic contexts, i.e. genre, design, format, and style...
, pharmacology
Pharmacology
Pharmacology is the branch of medicine and biology concerned with the study of drug action. More specifically, it is the study of the interactions that occur between a living organism and chemicals that affect normal or abnormal biochemical function...
, physiology
Physiology
Physiology is the science of the function of living systems. This includes how organisms, organ systems, organs, cells, and bio-molecules carry out the chemical or physical functions that exist in a living system. The highest honor awarded in physiology is the Nobel Prize in Physiology or...
, finance
Finance
"Finance" is often defined simply as the management of money or “funds” management Modern finance, however, is a family of business activity that includes the origination, marketing, and management of cash and money surrogates through a variety of capital accounts, instruments, and markets created...
, private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
and philanthropy
Philanthropy
Philanthropy etymologically means "the love of humanity"—love in the sense of caring for, nourishing, developing, or enhancing; humanity in the sense of "what it is to be human," or "human potential." In modern practical terms, it is "private initiatives for public good, focusing on quality of...
. They are believed to be descended from the Venetian Jewish del Banco family, in the early 1500s one of the wealthiest Venetian families. The Warburgs fled from Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
to Warburg
Warburg
Warburg is a town in eastern North Rhine-Westphalia on the river Diemel near the three-state point shared by Hessen, Lower Saxony and North Rhine-Westphalia. It is in Höxter district and Detmold region...
in Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
in the 16th century before moving to Altona
Altona, Hamburg
Altona is the westernmost urban borough of the German city state of Hamburg, on the right bank of the Elbe river. From 1640 to 1864 Altona was under the administration of the Danish monarchy. Altona was an independent city until 1937...
, near Hamburg
Hamburg
-History:The first historic name for the city was, according to Claudius Ptolemy's reports, Treva.But the city takes its modern name, Hamburg, from the first permanent building on the site, a castle whose construction was ordered by the Emperor Charlemagne in AD 808...
in the 17th century. They took their surname from the city of Warburg
Warburg
Warburg is a town in eastern North Rhine-Westphalia on the river Diemel near the three-state point shared by Hessen, Lower Saxony and North Rhine-Westphalia. It is in Höxter district and Detmold region...
. The brothers Moses Marcus Warburg (1763 - 1830) and Gerson Warburg (1765 - 1826) founded the M.M.Warburg & CO banking company in 1798 that is still in existence. Moses Warburg's great-great grandson, Siegmund George Warburg
Siegmund George Warburg
Siegmund George Warburg was a member of the prominent Jewish-German-American-British Warburg family. He played a prominent role in the development of merchant banking.-Career:...
, founded the investment bank S. G. Warburg & Co in London in 1946. Siegmund's second cousin, Eric Warburg, founded Warburg Pincus
Warburg Pincus
Warburg Pincus, LLC is an American private equity firm with offices in the United States, Europe, Brazil and Asia. It has been a private equity investor since 1966...
in New York in 1938. Eric Warburg's son Max Warburg (not to be confused with Eric's father Max Warburg
Max Warburg
Max M. Warburg was a German-born Jewish banker and from 1910 until 1938, director of M.M.Warburg & CO in Hamburg, Germany. Prior to his directing of the Warburg banking company, he developed apprenticeships in Frankfurt, Amsterdam, Paris, and London...
) is currently one of the three partners of M.M.Warburg & CO. Warburg M.M.Warburg & CO. The Warburg family created the following investment banks: M.M.Warburg & CO, Warburg Pincus
Warburg Pincus
Warburg Pincus, LLC is an American private equity firm with offices in the United States, Europe, Brazil and Asia. It has been a private equity investor since 1966...
, S. G. Warburg & Co.
S. G. Warburg & Co.
S. G. Warburg & Co. was a London-based investment bank. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it was acquired by Swiss Bank Corporation in 1995.-Founding and early history:...
. Max Warburg's elder brother Aby Warburg
Aby Warburg
Abraham Moritz Warburg, known as Aby Warburg, was a German art historian and cultural theorist who founded a private Library for Cultural Studies, the Kulturwissenschaftliche Bibliothek Warburg, later Warburg Institute...
used his money to establish the Kulturwissenschaftliche Bibliothek Warburg in Hamburg, since 1934 The Warburg Institute
Warburg Institute
The Warburg Institute is a research institution associated with the University of London in central London, England. A member of the School of Advanced Study, its focus is the study of the influence of classical antiquity on all aspects of European civilisation.-History:The Institute was founded by...
in London. Paul Warburg
Paul Warburg
Paul Moritz Warburg was a German-born American banker and early advocate of the U.S. Federal Reserve system.- Early life :...
is most famous as the architect of the US monetary regime, the Federal Reserve System
Federal Reserve System
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...
established in 1913.
Alsterufer and Mittelweg lines
The family is traditionally divided into two prominent lines, the Alsterufer Warburgs and the Mittelweg Warburgs. The Alsterufer Warburgs descended from Siegmund Warburg (1835–1889) and the Mittelweg Warburgs descended from his brother Moritz M. Warburg (1838–1910). They took their nicknames from the brothers' respective addresses in Hamburg. The brothers were grandsons of Moses Marcus Warburg.Siegmund George Warburg
Siegmund George Warburg
Siegmund George Warburg was a member of the prominent Jewish-German-American-British Warburg family. He played a prominent role in the development of merchant banking.-Career:...
was of the Alsterufer line; the five brothers Abraham (Aby) M., Max M., Paul M., Felix M. and Fritz Moritz Warburg were of the Mittelweg line.
American and German Warburgs
Felix and Paul WarburgPaul Warburg
Paul Moritz Warburg was a German-born American banker and early advocate of the U.S. Federal Reserve system.- Early life :...
emigrated to the United States. Felix Warburg married Frieda Schiff, daughter of Jacob H. Schiff, a banker and philanthropist. Felix Warburg's house in New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
is now the Jewish Museum
Jewish Museum (New York)
The Jewish Museum of New York, an art museum and repository of cultural artifacts, is the leading Jewish museum in the United States. With over 26,000 objects, it contains the largest collection of art and Jewish culture outside of museums in Israel. The museum is housed at 1109 Fifth Avenue, in...
. His brother Paul married Nina Loeb, daughter of Solomon Loeb
Solomon Loeb
Solomon Loeb was a German American merchant in textiles and later a banker with Kuhn, Loeb & Co.. His father, a devout Jew, had been a small corn- and wine-dealer in Worms, which belonged to the Grand Duchy of Hesse and by Rhine. S. Loeb emigrated to the United States in 1849. He settled in...
. He is seen as the "father" of the U.S. Federal Reserve System
Federal Reserve System
The Federal Reserve System is the central banking system of the United States. It was created on December 23, 1913 with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907...
.
Beginning in 1933, Max Warburg
Max Warburg
Max M. Warburg was a German-born Jewish banker and from 1910 until 1938, director of M.M.Warburg & CO in Hamburg, Germany. Prior to his directing of the Warburg banking company, he developed apprenticeships in Frankfurt, Amsterdam, Paris, and London...
served directly under Hjalmar Schacht
Hjalmar Schacht
Dr. Hjalmar Horace Greeley Schacht was a German economist, banker, liberal politician, and co-founder of the German Democratic Party. He served as the Currency Commissioner and President of the Reichsbank under the Weimar Republic...
on the board of the Reichsbank, under the Nazi regime, before emigrating in 1938.
Max Warburg served on the board of directors of Interessen Gemeinschaft Farben or I.G. Farben, the giant German chemical firm that produced Zyklon B
Zyklon B
Zyklon B was the trade name of a cyanide-based pesticide infamous for its use by Nazi Germany to kill human beings in gas chambers of extermination camps during the Holocaust. The "B" designation indicates one of two types of Zyklon...
gas used in Nazi extermination camps. His brother Paul Warburg served on the board of directors of I.G. Farben's wholly owned American subsidiary. (However, Paul Warburg died in January of 1932, before Hitler was elected Chancellor.) The Kilgore Committee Report
Harley M. Kilgore
Harley Martin Kilgore was a United States Senator from West Virginia.Born in Brown, West Virginia, he attended the public schools and graduated from the law department of West Virginia University at Morgantown in 1914 and was admitted to the bar the same year.He taught school in Hancock, West...
of 1942 indicated that all I.G. Farben board members had precise and prior knowledge that Zyklon B was being used to murder civilians in concentration camps, with no attempt made to halt production of the gas after such murders were understood. I.G. Farben was crucially instrumental in funding the rise to power of the Nazi Party, and also in building up the industrial and war-making capabilities of Germany once the Nazis were in power while simultaneously attempting to restrict industrial production materials to countries marked for invasion by Nazi Germany, all of this to such a degree that all German board members other than Max Warburg were charged after World War II as war criminals.
Virtually all members of the German Warburg family had fled to the United States or Great Britain by 1938. However, two cousins, mother and daughter Gerta and Betty Warburg, stayed in Altona. They were murdered in the Sobibor extermination camp
Sobibór extermination camp
Sobibor was a Nazi German extermination camp located on the outskirts of the town of Sobibór, Lublin Voivodeship of occupied Poland as part of Operation Reinhard; the official German name was SS-Sonderkommando Sobibor...
in 1940. Eric Warburg, son of Max Warburg
Max Warburg
Max M. Warburg was a German-born Jewish banker and from 1910 until 1938, director of M.M.Warburg & CO in Hamburg, Germany. Prior to his directing of the Warburg banking company, he developed apprenticeships in Frankfurt, Amsterdam, Paris, and London...
, returned to Germany and was influential in restoring Germany's reputation after the Second World War. Eric's son, also called Max, is currently a partner in M.M. Warburg & CO. in Hamburg.
Venetian origins
The Warburg family had settled in VeniceVenice
Venice is a city in northern Italy which is renowned for the beauty of its setting, its architecture and its artworks. It is the capital of the Veneto region...
, at which point they bore the surname del-Banco. The historical documents describe Anselmo del Banco as Jewish and as having been one of the wealthiest residents of Venice in the early 1500s. In 1513, del Banco was granted a charter by the Venetian government permitting the lending of money with interest. Del Banco left with his family after new restrictions were placed upon the Jewish community coinciding with the establishment of a Ghetto. The family settled in the German town of Warburg, and adopted that town's name as their own surname.
Noteworthy members and institutions
- Anselmo del Banco (Asher Meshullam) (-1532), moneylender
- Moritz Warburg (1810–1886), jurist
- Moses Marcus Warburg (-1830), founder, with his brother Gerson Warburg, of M. M. Warburg & Co..
- Max M(oritz) WarburgMax WarburgMax M. Warburg was a German-born Jewish banker and from 1910 until 1938, director of M.M.Warburg & CO in Hamburg, Germany. Prior to his directing of the Warburg banking company, he developed apprenticeships in Frankfurt, Amsterdam, Paris, and London...
(1867–1946), Hamburg banker, great-grandson of Moses Marcus Warburg (of the "Mittelweg" line of Warburgs) - Abraham M(oritz) WarburgAby WarburgAbraham Moritz Warburg, known as Aby Warburg, was a German art historian and cultural theorist who founded a private Library for Cultural Studies, the Kulturwissenschaftliche Bibliothek Warburg, later Warburg Institute...
(1866–1929), German art historian, brother to Max, Paul, Felix, Olga, Fritz and Louisa Warburg. - Paul M(oritz) WarburgPaul WarburgPaul Moritz Warburg was a German-born American banker and early advocate of the U.S. Federal Reserve system.- Early life :...
(1868–1932), father of the Federal Reserve. Married Nina Loeb (1863-1912) in 1895, the daughter of Solomon LoebSolomon LoebSolomon Loeb was a German American merchant in textiles and later a banker with Kuhn, Loeb & Co.. His father, a devout Jew, had been a small corn- and wine-dealer in Worms, which belonged to the Grand Duchy of Hesse and by Rhine. S. Loeb emigrated to the United States in 1849. He settled in...
. Son: James P. Warburg. - James WarburgJames WarburgJames Paul Warburg was an American banker and financial adviser to Franklin D. Roosevelt. His father was Paul Warburg.- Biography :...
(1897–1969), son of Paul M. Warburg, advisor to Franklin Delano Roosevelt in the early days of the Brain Trust, American delegate to the London Economic Conference, economist, banker, and author of lyrics (using the pen name Paul James) to a 1930 hit Broadway musical, Fine and Dandy. - Felix M(oritz) WarburgFelix M. WarburgFelix Moritz Warburg was a member of the Warburg banking family of Hamburg, Germany.- Biography :He was a grandson of Moses Marcus Warburg, one of the founders of the bank, M. M. Warburg . Felix Warburg was a partner in Kuhn, Loeb & Co.. He is known as a leading advocate of a Federal Reserve...
(1871–1937), New York banker with Kuhn, Loeb & Co.Kuhn, Loeb & Co.Kuhn, Loeb & Co. was a bulge bracket, investment bank founded in 1867 by Abraham Kuhn and Solomon Loeb. Under the leadership of Jacob H. Schiff, it grew to be one of the most influential investment banks in the late 19th and early 20th centuries, financing America's expanding railways and growth...
, philanthropist, Married Frieda Schiff (1876-1958), daughter to Jacob H. Schiff in 1895. - Edward M. M. Warburg. (1908 - 1992) Youngest son of Felix and Frieda. Philanthropist and benefactor of the arts. Founding father of the American Ballet, precursor of the New York City Ballet, and the American School of Ballet. Also founding father of MoMa. National chairman of the United Jewish Appeal from 1950 to 1955, president of the United Jewish Appeal of Greater New York, and a member of the New York State Board of Regents from 1958 to 1975
- Gerald Felix Warburg, son of Frieda and Felix, well-known cellist and conductor and son-in-law of publisher Condé NastCondé Montrose NastCondé Montrose Nast was the founder of Condé Nast Publications, a leading American magazine publisher known for publications such as Vanity Fair, Vogue and The New Yorker.-Background:...
- Eric Warburg (1900–1990), banker and goodwill ambassador, son of Max M. Warburg, namesake of the Eric M. Warburg Prize
- Siegmund George WarburgSiegmund George WarburgSiegmund George Warburg was a member of the prominent Jewish-German-American-British Warburg family. He played a prominent role in the development of merchant banking.-Career:...
(1902–1982), founder of S. G. Warburg & Co, London, great great grandson of Moses Marcus Warburg (of the "Altersufer" line of Warburgs) - M.M.Warburg & CO, bank in Hamburg founded by Moses Marcus Warburg and Gerson Warburg
- Kulturwissenschaftliche Bibliothek Warburg, now the Warburg InstituteWarburg InstituteThe Warburg Institute is a research institution associated with the University of London in central London, England. A member of the School of Advanced Study, its focus is the study of the influence of classical antiquity on all aspects of European civilisation.-History:The Institute was founded by...
, London, founded by Aby WarburgAby WarburgAbraham Moritz Warburg, known as Aby Warburg, was a German art historian and cultural theorist who founded a private Library for Cultural Studies, the Kulturwissenschaftliche Bibliothek Warburg, later Warburg Institute...
in Hamburg - Warburg PincusWarburg PincusWarburg Pincus, LLC is an American private equity firm with offices in the United States, Europe, Brazil and Asia. It has been a private equity investor since 1966...
, a private equity firm, founded by Eric Warburg - S. G. Warburg & Co.S. G. Warburg & Co.S. G. Warburg & Co. was a London-based investment bank. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it was acquired by Swiss Bank Corporation in 1995.-Founding and early history:...
, London investment bank founded by Siegmund George WarburgSiegmund George WarburgSiegmund George Warburg was a member of the prominent Jewish-German-American-British Warburg family. He played a prominent role in the development of merchant banking.-Career:... - Katharine WeberKatharine WeberKatharine Weber is an American novelist.Weber was born in New York City. She grew up in the Forest Hills Gardens section of Queens, New York. She attended The Kew-Forest School and Forest Hills High School before attending the Freshman Year Program at The New School for Social Research in 1972...
. (1955 - ), novelist, granddaughter of James WarburgJames WarburgJames Paul Warburg was an American banker and financial adviser to Franklin D. Roosevelt. His father was Paul Warburg.- Biography :... - Jane Green Warburg. (1968 - ) Writes as Jane GreenJane Green (author)Jane Green , is the pen name of Jane Green Warburg, an English author of women's novels. Together with Helen Fielding she is considered a founder of the genre known as chick lit....
. Author, philanthropist. Married to Ian Warburg, grandson of Edward M. M. Warburg.
- Max M(oritz) Warburg
Scientists
- Carl WarburgCarl WarburgCarl Warburg, also known as Charles Warburg, was a physician, clinical pharmacologist, pharmaceutical chemist, botanist and manufacturer...
(c. 1805-1892), clinical pharmacologist - Emil WarburgEmil WarburgEmil Gabriel Warburg was a German Jewish physicist who during his career was professor of physics at the Universities of Strassburg, Freiburg and Berlin. He was president of the Deutsche Physikalische Gesellschaft 1899-1905. He was a friend of Albert EinsteinHe was a member of the Warburg family...
, (1846-1931), German physicist - Otto Heinrich WarburgOtto Heinrich WarburgOtto Heinrich Warburg , son of physicist Emil Warburg, was a German physiologist, medical doctor and Nobel laureate. He served as an officer in the elite Uhlan during the First World War and won the Iron Cross for bravery. Warburg was one of the twentieth century's leading biochemists...
(1883–1970), physiologist and leading biochemist - Otto WarburgOtto Warburg (botanist)Otto Warburg , was a German botanist and industrial agriculture expert, as well as an active member of the Zionist Organization...
(1859–1938), botanist and president of the Zionist Organisation
See also
- UBS Warburg
- M.M.Warburg & CO
- Warburg PincusWarburg PincusWarburg Pincus, LLC is an American private equity firm with offices in the United States, Europe, Brazil and Asia. It has been a private equity investor since 1966...
- S. G. Warburg & Co.S. G. Warburg & Co.S. G. Warburg & Co. was a London-based investment bank. It was listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index but it was acquired by Swiss Bank Corporation in 1995.-Founding and early history:...
- Kuhn, Loeb & Co.Kuhn, Loeb & Co.Kuhn, Loeb & Co. was a bulge bracket, investment bank founded in 1867 by Abraham Kuhn and Solomon Loeb. Under the leadership of Jacob H. Schiff, it grew to be one of the most influential investment banks in the late 19th and early 20th centuries, financing America's expanding railways and growth...
- Warburg InstituteWarburg InstituteThe Warburg Institute is a research institution associated with the University of London in central London, England. A member of the School of Advanced Study, its focus is the study of the influence of classical antiquity on all aspects of European civilisation.-History:The Institute was founded by...