Joseph was born as the first son of Johann I, Prince of Schwarzenberg and Countess Maria Eleonora von Oettingen-Wallerstein and succeeded his father in 1789. He was active in the banking sector.
In 1798 he bought the Stubenbach and Gutwasser estates with the attached domains of Stachau, Altstadln and Neustadln. In 1801 or 1803 he acquired Willmendingen Castle in Klettgau, and in 1810 the Libějovice property.
In 1802 he ceded to his younger brother Karl Philipp, who later became Field Marshal, the second majorate of the Princely House and part of the family property, including Orlík Castle.
In 1806, after the occupation by the French, he lost sovereignty over the Franconian and Swabian possessions of his House. In 1808 Joseph was accepted into the Order of the Golden Fleece. His wife Pauline died in 1810 in a fire during a ball in the garden of the Austrian embassy in Paris in honor of Napoleon's marriage to Marie-Louise of Austria.
Marriage and offspring
His wife, Princess Pauline Karolina Iris von Arenberg-Aarschot
Joseph married in May 1794 Princess Pauline Karolina Iris von Arenberg-Aarschot (September 2, 1774 - July 2, 1810), daughter of Louis Engelbert, 6th Duke of Arenberg, and had six daughters and three sons:
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