The book "1st Karl Schwarzschild Meeting on Gravitational Physics" documents the selected contributions from participants of the first Karl Schwarzschild Meeting on Gravitational Physics, which took place in Frankfurt, Germany, to celebrate the 140th birthday of Karl Schwarzschild. The contributions are organized into four main themes: the life and work of Karl Schwarzschild, black holes in classical general relativity as well as in numerical relativity, astrophysics, cosmology, and alternative theories of gravitation, black holes in quantum gravity and string theory, as well as other topics in contemporary gravitation. The meeting, designed as a forum for exchange among scientists of all educational levels, attracted participants from 15 countries across four continents and featured not only plenary talks by leading researchers but also a special focus on young talents, highlighted by the Springer Prize for the best student and junior presentations.