He was descended from one of the fifty Jewish families that had been expelled from Vienna and settled in Brandenburg, at the invitation of Elector Friedrich Wilhelm.
They were from the upper classes and possessed a "letter of protection" (Revidiertes General-Privileg [de]), allowing them and their descendants the right of residence.
He is best known as the first husband of Brendel Mendelssohn, who is better known as Dorothea von Schlegel, and as father of the artists, Jonas and Philipp Veit.
He never converted; providing financial support for his ex-wife and sons for as long as it was needed.
He was a member of the Stock Exchange Corporation, favored the reorganization of Jewish worship, according to plans proposed by David Friedländer, and contributed to charitable societies for both the Jewish and gentile poor.