World’s oldest Jewish trust, the Sassoon Family Continuation Trust, will transfer $100 billion in assets to the United States. Bruce Fein, Master Trustee of the Sassoon Family Continuation Trust, stated that the funds will be transferred mostly from Switzerland, as well as from some other international financial institutions around the world.
The Sassoon Family Continuation Trust originated 1495 in the aftermath of the Spanish Inquisition. Its longevity and wealth are unrivalled. The Trust proudly honors and celebrates Orthodox Judaism and is committed to the welfare of the United States and the economic and physical security of Israel. The trust’s sole beneficiary is David E. Sassoon, grandson of Eli Nissim Sassoon and executive chairman of J. Sassoon Group, a Washington, DC based private equity and investment banking firm.
The Sassoon family is known as the “Rothschilds of the East” due to the immense wealth that the family accumulated in finance and trade. The family originated in Baghdad. Later, the Sassoon Family moved to Bombay, India, and then spread to China, England, and other countries. It is said that the family descended from one of the court families of the Iberian Peninsula in the 12th century. They later served as financial advisors to Islamic rulers.
The Sassoon Group focuses on the industries in which it believes their expertise provides them with a competitive advantage. The Trust looks to leverage extensive knowledge in order to create the most “value and impact over the long term. Valuing depth over breadth, and sustainability over expediency. Our investment professionals specialize in one industry sector, which also allows us to create flexible solutions and identify the best ways to deploy capital.”