David Sassoon was born in 1792 in Baghdad.He came off a Nasis family .His ancestors were the leader of Jewish community. David Sassoon was the son of Saleh Sassoon,a rich person of Iraqi origin.Saleh Sassoon was a Government treasurer. Sassoon`s family had to escape from Iraq during the period of Muslim and Turkish rules in Baghdad. David Sassoon came to Bombay in 1933 with his wife and family. Sassoon did not manage to bring full wealth of his family.
David Sassoon started business in Bombay with very limited money and business place. Soon David Sassoon set up a company named David Sassoon & Co.and established himself as one of the wealthy men in Bombay. He had a great power to convince all the enterprises of Bombay better than his main business competitor. The company had branches at Calcutta, Shanghai, Canton and Hong Kong. During the period of 1850s, it was said of him 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 Sassoon exported opium in China and Japan though in that time China Government banned opium.He generated huge profit from this opium trade.
He established a two synagogues in the Fort area and Byculla .He also setup a school, Mechanics` Institute, a library and a convalescent home in Pune.He became British citizen in 1853. David Sassoon passed away in Pune in 1864.