Background
He was born as youngest of three sons of Waldeck county"s court Jewish banker Hirsch Bernhard Stieglitz and his wife Edel Elisabeth (née Marcus).
He was born as youngest of three sons of Waldeck county"s court Jewish banker Hirsch Bernhard Stieglitz and his wife Edel Elisabeth (née Marcus).
As a young man Stieglitz moved to Russia as a representative of his merchant house, and eventually was appointed court banker to the czar Alexander I, gaining influence and receiving various Russian decorations. Stieglitz continued as court banker to czar Nicholas I and took an active part in many financial affairs of his adopted country, investing in range of enterprises including steam navigation between Lübeck and Saint St. Petersburg. He purchased the Estate of Gross-Essern in Courland, and on May 3, 1840 his name was inscribed in the register of the nobility of Courland.
A contemporary has noted: "He was the German Rothschild of Saint St. Petersburg, but in reality more.
Foreign he was not only rich in money, he was still richer in heart, and a noble benefactor in the best sense of the word.".