Guggenheim family

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