Guggenheim family


The Guggenheim family is an American 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

, a Swiss citizen of Ashkenazi Jewish ancestry, arrived in the United States in 1847. His surname was derived from the Alsatian village of Gougenheim. He married Barbara Meyer, whom 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. 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.

Current interests

today manages over $200 billion in assets. Another family vehicle, Guggenheim Investment Advisors, oversees about $50 billion in assets.

Family tree

Meyer Guggenheim 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 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: