The French Concession

David Sassoon

One of the first stories of old Shanghai that we explored was Silas Hardoon Shanghai’s prominent Real Estate Tycoon of the early 20th Century.
The Sassoons as Hardoon are both Iraqi Jews that made their way to Bombay (Mumbai) and later found fortunes in China.

The Sassoons were probably the wealthiest family in India during their time and David Sassoon set up Sassoon Company in 1833.
He quickly started to set up offices in Hongkong and Shanghai to get his cut of the booming Opium Market.
And a cut he cut, sooner than later one fifth of all Opium was carried by the Sassoon Fleet.

At the end of the 1850’s it was said that ”silver and gold, silks, gums and spices, opium and cotton, wool and wheat - whatever… moves over sea or land feels the hand or bears the mark of Sassoon and Company.

David placed his eight sons at various exchanges in China to oversee the opium trade. 

After David Sassoons demise Abdullah Sassoon inherited the company (he was known as the “Old Sassoon”), but it quickly lost market share and was basically replaced by the “New Sassoon Company” set up by Elias Sassoon (a property developer who Hardoon worked for during some time).

The Sassons are responsible for some of Shanghai’s most recognizable and famous landmarks, I guess the easiest to guess is Sassoon House (the north building of the peace hotel) that at the time was the Sassoon’s Cathay Hotel.

Sir Jacob Sassoon founded the Ohel Rachel Synagogue on 500 Shanxi bei Road (close by Plaza 66), it’s one of my favourite must see places in Shanghai.
It’s truly mystical, with plants covering the whole building during the summer.

Elias Son, and Jacob’s nephew Victor grew the “New Sassoons” Company into a local conglomerate. Their most noteworthy projects built include the Hamilton House (now called Fuzhou Da Lou (where we have a beautiful 1 Bedroom Apartment)) and the Metropole Hotel across the street. 
The Cathay Cinema (which we introduced already here), The Orient Hotel  at People’s Square, the Embarkment Apartments, the Cathay Apartments (Okura Hotel today) and many others.

Victor lived in Shanghai until the Japanese Occupation and after World War II he moved the Company to the Bahamian Islands (must have been a pioneer). 
Sassoon Company concluded it’s operations in Shanghai in 1950. 

Trivia: Lord Kadoorie the founder of China Power and Light, and who is also a descendant of jews who migrated from Bagdadh to Mumbai (outliers anyone??) worked for Victor Sassoon, managing the sassoons famous Shanghai hotel.A
The Kadoories are listed in Forbes as one of Asia’s richest families. 
They also own the Hong Kong and Shanghai Hotels Ltd Company that will open the Peninsula Shanghai this year.

More on the Hong Kong and Shanghai Hotels Company here, very interesting.

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