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Guggenheim family
Meyer Guggenheim
Daniel Guggenheim
Harry Frank Guggenheim
Current regionNew York, U.S.
Place of originLengnau, Switzerland
Foundedc.1800s
FounderSimon Meyer Guggenheim
Connected familiesLoeb family
Morton family
Straus family[1]
Estate(s)Falaise (Sands Point, New York);[2] Murry Guggenheim House (West Long Branch, New Jersey)

The Guggenheim family (/ˈɡʊɡənhaɪm/ GUUG-ən-hyme) is an American-Jewish family known for making their fortune in the mining industry, in the early 20th century, especially in the United States and South America. After World War I, many family members withdrew from the businesses and became involved in philanthropy, especially in the arts, aviation, medicine, and culture.

History

Meyer Guggenheim, a Swiss citizen of Ashkenazi Jewish ancestry, arrived in the United States in 1847. His surname was derived from the Alsatian village of Gugenheim.[3] He married Barbara Meyer, who he met in the United States. Over the next few decades, their several children and descendants became known for their global successes in mining and smelting businesses, under the name Guggenheim Exploration, including the American Smelting and Refining Company. In the early 20th century, the family developed one of the largest fortunes in the world.

Following World War I, they sold their global mining interests and later purchased nitrate mines in Chile. Subsequently, the family largely withdrew from direct involvement in running businesses.[4] Family members became known for their philanthropy in diverse areas such as modern art, aviation, and medicine. They donated funds to develop Guggenheim Museums, the Guggenheim Aeronautical Laboratory, and the Guggenheim Pavilion at Mount Sinai Medical Center, designed by I. M. Pei in New York City.[4]

Current interests

Lawson Johnston a British Guggenheim descendant founded Guggenheim Partners which today (2023) manages over $300 billion in assets.[5] Another family vehicle, Guggenheim Investment Advisors, oversees about $50 billion in assets.[6]

Family tree

Solomon R. Guggenheim Museum, 5th Avenue, Manhattan

Meyer Guggenheim (1828–1905) married Barbara Meyer, of German Jewish descent, in 1852. They met in the United States. They had eleven children together, including eight sons, five of whom were active in the family businesses: Isaac, Daniel, Maurice "Murry", Solomon Robert, and (John) Simon Guggenheim. Sons Benjamin, Robert and William pursued other careers. The daughters were Jeanette, Rose and Cora. Meyer's 11 children, their spouses, and notable descendants are shown below:

References

  1. ^ "Straus family | American family | Britannica".
  2. ^ "Falaise Museum".
  3. ^ Historisches Lexikon der Schweiz.
  4. ^ a b Davis, passim
  5. ^ "Guggenheim Partners – Home". Retrieved May 11, 2023.
  6. ^ "Guggenheim 'Excited' About Private Equity, Likes Macro Funds". Bloomberg. October 8, 2009. Retrieved October 13, 2009.
  7. ^ a b "Isaac Guggenheim Dies in England; Overcome by Sudden Illness after Greeting a Friend in Southampton. Leader in Mining Industry Identified with Large Industrial Interests of His Family--Body to Be Brought Here". The New York Times. No. October 11, 1922. October 11, 1922. Retrieved August 1, 2018.
  8. ^ a b Davis, p. 422
  9. ^ a b c Lueck, Thomas J. (November 27, 2003). "Audrey B. Love, 100, a Patron of the Arts". The New York Times. No. November 27, 2003. Retrieved November 28, 2016.
  10. ^ Filler, Martin. "Love Among the Ruins", Departures, March 30, 2010.
  11. ^ Davis, p. 145
  12. ^ Davis, p. 168
  13. ^ a b c Davis, p. 82
  14. ^ a b c Davis, p. 337
  15. ^ a b c d Davis, p. 326
  16. ^ "2 Guggenheim heirs die in 13-story fall: baby boy and brother drop". The New York Times. No. 20 October 1928. October 20, 1928. Retrieved August 1, 2018.
  17. ^ a b c d Davis, p. 328
  18. ^ "William Guggenheim and Miss Amy Lelia Steinberger, the daughter of Mrs. Herman Steinberger". The New York Times. No. 1904.
  19. ^ Davis, John (1994). The Guggenheims: An American Epic. SPI Books. p. 436. ISBN 978-1-56171-351-6.
  20. ^ a b c d e f g Davis, p. 439

Further reading

External links

Authority control databases
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