Shanghai, 1936. The Cathay Hotel, located on the city's famous waterfront, is one of the most glamorous in the world. Built by Victor Sassoon—billionaire playboy and scion of the Sassoon dynasty—the hotel hosts a who's who of global celebrities. By the 1930s, the Sassoons had been doing business in China for a century, rivaled in wealth and influence by only one other dynasty—the Kadoories. These two Jewish families, both originally from Baghdad, stood astride Chinese business and politics for more than 175 years. In The Last Kings of Shanghai, Jonathan Kaufman tells the remarkable history of how these families participated in an economic boom that opened China to the world, but remained blind to the country's deep inequality and to the political turmoil at their doorsteps.