HOME

TheInfoList



OR:

Jakob Fugger ''of the Lily'' (german: Jakob Fugger von der Lilie; 6 March 1459 – 30 December 1525), also known as Jakob Fugger ''the Rich'' or sometimes Jakob II, was a major
German German(s) may refer to: * Germany (of or related to) **Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ge ...
merchant, mining entrepreneur, and
bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
er. He was a descendant of the Fugger merchant family located in the Mixed Imperial City of
Augsburg Augsburg (; bar , Augschburg , links=https://en.wikipedia.org/wiki/Swabian_German , label=Swabian German, , ) is a city in Swabia, Bavaria, Germany, around west of Bavarian capital Munich. It is a university town and regional seat of the ' ...
, where he was born and later also elevated through marriage to Grand Burgher of Augsburg (''Großbürger zu Augsburg''). Within a few decades, he expanded the family firm to a business operating in all of Europe. He began his education at the age of 14 in
Venice Venice ( ; it, Venezia ; vec, Venesia or ) is a city in northeastern Italy and the capital of the Veneto Regions of Italy, region. It is built on a group of 118 small islands that are separated by canals and linked by over 400  ...
, which also remained his main residence until 1487. At the same time, he was a cleric and held several prebendaries, even though he lived in a monastery, Jakob found time to study the history of investment in early Asian markets. American journalist
Greg Steinmetz Greg Steinmetz is an American journalist, author and securities analyst. Steinmetz was born and raised in Cleveland, Ohio. He graduated from Colgate University with a Bachelor of Arts degree in History and German, and earned a master's degree ...
has estimated his overall wealth to be around $400 billion in today’s money, equivalent to 2% of the GDP of Europe at that time. The foundation of the family's wealth was created mainly by the textile trade with
Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical ...
. The company grew rapidly after the brothers Ulrich, Georg and Jakob began banking transactions with the
House of Habsburg The House of Habsburg (), alternatively spelled Hapsburg in Englishgerman: Haus Habsburg, ; es, Casa de Habsburgo; hu, Habsburg család, it, Casa di Asburgo, nl, Huis van Habsburg, pl, dom Habsburgów, pt, Casa de Habsburgo, la, Domus Hab ...
as well as the Roman Curia, and at the same time began mining operations in Tyrol, and from 1493 on the extraction of
silver Silver is a chemical element with the symbol Ag (from the Latin ', derived from the Proto-Indo-European ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical ...
and
copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pink ...
in the kingdoms of Bohemia and
Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Cr ...
. As of 1525 they also had the right to mine quicksilver and cinnabar in Almadén. After 1487, Jakob Fugger was the ''de facto'' head of the Fugger business operations which soon had an almost monopolistic hold on the European copper market. Copper from
Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Cr ...
was transported through Antwerp to Lisbon, and from there shipped to
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
. Jakob Fugger also contributed to the first and only trade expedition to India that German merchants cooperated in, a Portuguese fleet to the Indian west coast (1505–1506) as well as a failed Spanish trade expedition to the Maluku Islands. With his support of the Habsburg dynasty as a banker, he had a decisive influence on European politics at the time. He financed the rise of Maximilian I and made considerable contributions to secure the election of the Spanish king
Charles I Charles I may refer to: Kings and emperors * Charlemagne (742–814), numbered Charles I in the lists of Holy Roman Emperors and French kings * Charles I of Anjou (1226–1285), also king of Albania, Jerusalem, Naples and Sicily * Charles I of ...
to become Holy Roman Emperor Charles V. Jakob Fugger also funded the marriages which later resulted in the House of Habsburg gaining the kingdoms of Bohemia and
Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Cr ...
. Jakob Fugger secured his legacy and lasting fame through his foundations in Augsburg. A
chapel A chapel is a Christian place of prayer and worship that is usually relatively small. The term has several meanings. Firstly, smaller spaces inside a church that have their own altar are often called chapels; the Lady chapel is a common type ...
funded by him and built from 1509 to 1512 is Germany's first
renaissance The Renaissance ( , ) , from , with the same meanings. is a period in European history marking the transition from the Middle Ages to modernity and covering the 15th and 16th centuries, characterized by an effort to revive and surpass ide ...
building and contains the tombs of the brothers Ulrich, Georg and Jakob. The Fuggerei which was founded by Jakob in 1521 is the world's oldest social housing complex still in use. The Damenhof, part of the
Fuggerhäuser The Fuggerhäuser (''Fugger houses'') is a complex of houses on the Maximilianstraße in Augsburg, built for the Fugger family of businessmen. It is now owned by the Fugger-Babenhausen branch of the Fugger family who resides at Wellenburg castle ...
in Augsburg, is the first secular renaissance building in Germany and was built in 1515. At his death on 30 December 1525, Jakob Fugger bequeathed to his nephew
Anton Fugger Anton Fugger (10 June 1493 – 14 September 1560) was a German merchant and member of the Fugger family. He was a nephew of Jakob Fugger. Biography Anton was the third and youngest son of George Fugger and Regina Imhof. He was born in Augsburg o ...
company assets totaling 2,032,652
guilders Guilder is the English translation of the Dutch and German ''gulden'', originally shortened from Middle High German ''guldin pfenninc'' " gold penny". This was the term that became current in the southern and western parts of the Holy Roman E ...
. He is among the most well known Germans and arguably the most famous citizen of Augsburg, with his wealth earning him the moniker "Fugger the Rich". In 1967 a bust of him was placed in the Walhalla, a "hall of fame" near Regensburg that honors laudable and distinguished Germans.


Life


Background, education and early years in Venice

Jakob Fugger was born the tenth of eleven children to Jakob Fugger the Elder (1398–1469) and his wife Barbara Bäsinger (1419–1497), daughter of Münzmeister Franz Bäsinger. The Fugger family had already established themselves as successful merchants in the city. Hans Fugger, grandfather of Jacob Fugger the Rich had taken up residence in Augsburg in 1367, became a burgher through marriage and acquired considerable wealth by trading textiles with Italy. A few years before his death his son Jakob Fugger the Elder was already one of the richest citizens of Augsburg. Jakob's older brothers Ulrich (1441–1510) and
Georg Georg may refer to: * Georg (film), ''Georg'' (film), 1997 *Georg (musical), Estonian musical * Georg (given name) * Georg (surname) * , a Kriegsmarine coastal tanker See also

* George (disambiguation) {{disambiguation ...
(1453–1506) created the basis for the rise of the company in Europe. Around 1470 they founded manufactories in
Venice Venice ( ; it, Venezia ; vec, Venesia or ) is a city in northeastern Italy and the capital of the Veneto Regions of Italy, region. It is built on a group of 118 small islands that are separated by canals and linked by over 400  ...
and
Nuremberg Nuremberg ( ; german: link=no, Nürnberg ; in the local East Franconian dialect: ''Nämberch'' ) is the second-largest city of the German state of Bavaria after its capital Munich, and its 518,370 (2019) inhabitants make it the 14th-largest ...
, then important centers of trade. Jakob Fugger's brothers Andreas and Hans both died young in Venice. His brother Markus was a cleric and from 1470 on a writer in a papal chancery in
Rome , established_title = Founded , established_date = 753 BC , founder = King Romulus ( legendary) , image_map = Map of comune of Rome (metropolitan city of Capital Rome, region Lazio, Italy).svg , map_caption ...
where he died in 1478. His brother Peter died in an epidemic in Nuremberg in 1473. Loans given to Emperor Frederick III and supplies given to his entourage by Ulrich Fugger were the reason for the family being granted the lily coat of arms in 1473. The "of the lily" (german: von der Lilie) naming after this coat of arms distinguishes this line of the Fugger family from the "of the doe" (german: vom Reh) branch. Until 2009 historians assumed that Jakob Fugger, who was a minor order at the age of 12, had lived as a canon in a church located in
Herrieden Herrieden is a town in the district of Ansbach and situated in the Middle Franconia region of Bavaria, Germany. It lies along the upper Altmühl river, about 9 km (6 mi) southwest of the city of Ansbach, 47 km southwest of the cit ...
. A document from the Austrian state archive has now shown that Jakob Fugger was already representing his family business in Venice in 1473 at the age of 14. Other research showed that Jakob Fugger spent the years between 1473 and 1487 mostly at the
Fondaco dei Tedeschi The Fondaco dei Tedeschi (Venetian: ''Fòntego dei Todeschi'', in literal English, "warehouse of the Germans") is a historic building in Venice, northern Italy, situated on the Grand Canal near the Rialto Bridge. It was the headquarters and res ...
, the house of German merchants in Venice. Venice being one of the most important centers of trade at the time proved to be an ideal environment for Jakob Fugger's education in banking and the metal trade. His long residence in Italy also helped bring the
renaissance The Renaissance ( , ) , from , with the same meanings. is a period in European history marking the transition from the Middle Ages to modernity and covering the 15th and 16th centuries, characterized by an effort to revive and surpass ide ...
style to the German region, with his funding the construction of the first buildings of this style that originated in Italy. Legal and architectural structures of Venice also had a significant influence on the funding of the Fuggerei which was similar to the social housing of Venice.


Beginnings of the mining and metal trade

Jakob Fugger laid the foundation of his mining business in
Salzburg Salzburg (, ; literally "Salt-Castle"; bar, Soizbuag, label=Austro-Bavarian) is the fourth-largest city in Austria. In 2020, it had a population of 156,872. The town is on the site of the Roman settlement of ''Iuvavum''. Salzburg was founded ...
. He provided loans to the independent silver mine owners in the Salzburg Slate Alps which had constant need for new capital. Instead of receiving the usual documents acknowledging debt he demanded "Kuxe", essentially becoming a shareholder in the mines, and through this forcing more and more mine operators in the area of
Gastein Bad Gastein (; formerly ''Badgastein''; Southern Bavarian: ''Bod Goschdei'') is a spa town in the district of St. Johann im Pongau, in the Austrian state of Salzburg. Picturesquely situated in a high valley of the Hohe Tauern mountain range, it i ...
and Schladming to sell their silver directly to the Fugger family instead of intermediary traders. Jakob Fugger was responsible for his family's business in Augsburg, Tyrol, Venice and Rome. Around 1485 the family also founded manufactories in Innsbruck (since 1510 in Hall, since 1539 in Schwaz). Through a small loan he there first came into contact with Archduke Sigismund, a member of the Habsburg family. The archduke had as the sole owner of the Tyrol property rights handed out permissions for mining operations to private investors which in return had to pay a share of their profits to Sigismund. Despite this income he was constantly short of money owing to a lavish lifestyle, several illegitimate children and his extensive construction projects. A responsibility to pay the amount of 100,000 guilders of war reparations to Venice was eventually financed by Jakob Fugger. In 1488 the total debt already amounted to more than 150,000 guilders. Notable was the form of payment: Instead of paying the Fürst directly the Fugger family paid the money to his creditors as well as providing the wages for the royal court and craftsmen. In 1517 the Fugger family financed more than half of Tyrol's public budget. As a result, they were at times entitled to all the silver and copper out of Tyrol.


Relationship with Maximilian I

The expansion of high-risk, albeit very lucrative business connections to Maximilian I was undoubtedly promoted by Jakob. In his view, the House of Habsburg was bound to be the dominant power and dynasty within the German region, and as such should receive his financial and political support. Jakob Fugger met the young Roman-German king for the first time in 1489 at a Frankfurt fair. At that time, his plans for the independent Duchy of Tyrol had been agreed upon with the king's chancellor, Johann Waldner. On 16 March 1490 Sigismund and the Tyrol
Estates Estate or The Estate may refer to: Law * Estate (law), a term in common law for a person's property, entitlements and obligations * Estates of the realm, a broad social category in the histories of certain countries. ** The Estates, representati ...
came together with King Maximilian also present. The archduke had to resign under the pressure from the estates, who accused him of mismanagement, and his possessions fell to the king. Maximilian then promised to repay all loans of its predecessor to Jakob Fugger. Thus the Fugger business became one of the most important financial backers of Maximilian, who since 1486 was co-regent of the Holy Roman Empire. After his father Frederick III died in 1493 he became the reigning emperor. Despite having constant financial difficulties due to an extravagant lifestyle and many failed political projects his reign saw the kingdoms of
Spain , image_flag = Bandera de España.svg , image_coat = Escudo de España (mazonado).svg , national_motto = '' Plus ultra'' (Latin)(English: "Further Beyond") , national_anthem = (English: "Royal March") , ...
, Bohemia and
Hungary Hungary ( hu, Magyarország ) is a landlocked country in Central Europe. Spanning of the Carpathian Basin, it is bordered by Slovakia to the north, Ukraine to the northeast, Romania to the east and southeast, Serbia to the south, Cr ...
gained for the House of Habsburg, not by waging war but through advantageous marriage arrangements which were funded with the help of Jakob Fugger. On 15 July 1507 Maximilian I sold the County of Kirchberg, located at Ulm, the adjacent lordship Weißenhorn with the associated city, as well as the lordships Wullenstetten and Pfaffenhofen(Roth) from the Habsburg possessions in Further Austria to Jakob Fugger. Maximilian I who crowned himself Holy Roman Emperor in 1508 received a payment of 50,000 guilders for these sales. More sales followed in 1508 where he sold manor
Schmiechen Schmiechen is a municipality in the district of Aichach-Friedberg in Bavaria Bavaria ( ; ), officially the Free State of Bavaria (german: Freistaat Bayern, link=no ), is a state in the south-east of Germany. With an area of , Bavaria is the ...
and in 1514 where he sold the lordship Biberbach to Fugger. Maximilian I elevated Jakob Fugger into nobility in 1511 and granted him the title of Imperial Count in 1514 so the former burgher could operate his business without interference from local nobility.Häberlein 2006, p. 188 In the course of his life Jakob Fugger also became lord of more than 50 smaller villages. Criticism from reformer Martin Luther on the Fugger business methods and novelistic portrayal from early research have led to the notion that Jakob Fugger exercised considerable power over Maximilian I the king and emperor of the Holy Roman Empire, while more recent research shows that this was only partially true. However close to the end of his life Maximilian was so heavily indebted to Jakob Fugger that he had no choice but to continue his support for the emperor to still be able reclaim his outstanding debits. When Maximilian's grandson Charles V stood for election to become the next Emperor Jakob Fugger raised a sum of more than 500,000 guilders, a significant portion of his wealth and of the total amount raised in his support, to ensure the seven Prince-electors would choose him. Thereby he helped prevent the election of
Francis I of France Francis I (french: François Ier; frm, Francoys; 12 September 1494 – 31 March 1547) was King of France from 1515 until his death in 1547. He was the son of Charles, Count of Angoulême, and Louise of Savoy. He succeeded his first cousin on ...
which would have endangered his claims and investments gravely, although it also made him highly dependent on the House of Habsburg. Much later the Fugger family lost a large portion of their wealth following three Spanish state bankruptcies (1557, 1560, 1575) under the reign of Philip II of Spain.


Mining and metal trade

Likely at the insistence of Jakob Fugger the company became one of the first open trading companies (german: "der compagnia palese des welschen Rechts") in Europe in 1494. At the same time, it was renamed into "Ulrich Fugger of Augsburg and brothers" to show the equality of the three brothers involved in business issues, even though Tyrolean sources almost universally speak of the Jakob Fugger company and central contracts of the Hungarian trade were all signed by him. At this development the greatly increased influence of Jakob within the company can be observed. Since the late 1480s Jakob Fugger more and more dominated the company's policies, although the eldest brother Ulrich still formally led the company. The enormous growth potential in the
mining Mining is the extraction of valuable minerals or other geological materials from the Earth, usually from an ore body, lode, vein, seam, reef, or placer deposit. The exploitation of these deposits for raw material is based on the econom ...
and ore trade was very profitably harnessed by Jakob Fugger in the following years. As collateral for loans that he had given to the Habsburgs and the King of Hungary, he demanded mine revenues of Tyrol and the transfer of mining rights in Upper Hungary to him. Through this method he eventually established a dominant and almost monopolistic hold on the copper trade in Central Europe. With his business partner Hans Thurzó he founded the Hungarian trade in 1494. Mines funded by Fugger were constructed in Neusohl (present-day Banská Bystrica, Slovakia), at the time part of the Hungarian Kingdom. The expansion continued with the construction of smelting plants in Neusohl and nearby Moschnitz, Arnoldstein in Carinthia, Hohenkirchen in Thuringia. The copper was distributed through manufactories in Breslau,
Leipzig Leipzig ( , ; Upper Saxon: ) is the most populous city in the German state of Saxony. Leipzig's population of 605,407 inhabitants (1.1 million in the larger urban zone) as of 2021 places the city as Germany's eighth most populous, as ...
,
Kraków Kraków (), or Cracow, is the second-largest and one of the oldest cities in Poland. Situated on the Vistula, Vistula River in Lesser Poland Voivodeship, the city dates back to the seventh century. Kraków was the official capital of Poland un ...
and
Ofen Buda (; german: Ofen, sh-Latn-Cyrl, separator=" / ", Budim, Будим, Czech and sk, Budín, tr, Budin) was the historic capital of the Kingdom of Hungary and since 1873 has been the western part of the Hungarian capital Budapest, on the ...
. For transportation to the ports of Gdańsk, Stettin, and Lübeck on the
Baltic Sea The Baltic Sea is an arm of the Atlantic Ocean that is enclosed by Denmark, Estonia, Finland, Germany, Latvia, Lithuania, Poland, Russia, Sweden and the North and Central European Plain. The sea stretches from 53°N to 66°N latitude and from ...
Fugger funded the construction of a new road across the
Jablunkov Pass Jablunkov Pass ( cs, , pl, ) is a mountain pass in the Western Beskids at above sea level. It is located in the municipality of Mosty u Jablunkova in the Czech Republic, near the border with Poland and Slovakia. Geography The pass separat ...
. From those ports the copper was shipped to the
Russia Russia (, , ), or the Russian Federation, is a transcontinental country spanning Eastern Europe and Northern Asia. It is the largest country in the world, with its internationally recognised territory covering , and encompassing one-ei ...
n region and additionally through Antwerp to Lisbon where it was an important Portuguese trade good destined for the export to
India India, officially the Republic of India (Hindi: ), is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area, the List of countries and dependencies by population, second-most populous ...
. Part of the copper was also transported through Wiener Neustadt and the Adriatic ports Triest and Zengg to the copper market in Venice. At the time mines from both Tyrol and Hungary provided the bulk of the total European production in copper which provided an incredibly advantageous position in the European market, albeit not a total monopoly.


The Vatican as a client

The Fugger family were the first German trading house in a direct business relationship with the Roman Curia. In the year 1500, Jakob Fugger loaned the Vatican the money necessary to build the new St. Peter's Basilica, the Sistine Chapel, as well as other buildings within the Vatican. To repay Jakob the massive amount of money owed, Pope Leo X had to heavily tax the German people as well as sell indulgences, which was heavily unpopular with a large group of monks, including Martin Luther. Partly because of the corruption within the church, Martin Luther was prompted to write his Ninety-five Theses. Following the death of Pope
Alexander VI Pope Alexander VI ( it, Alessandro VI, va, Alexandre VI, es, Alejandro VI; born Rodrigo de Borja; ca-valencia, Roderic Llançol i de Borja ; es, Rodrigo Lanzol y de Borja, lang ; 1431 – 18 August 1503) was head of the Catholic Chur ...
in August 1503 Jakob Fugger intensified his contacts to the Vatican in Rome. For the new Pope Julius II Fugger financed the recruitment in 1505/1506 of the Swiss Guard, which still exists today. Early dealings in Rome are attributed to the cleric Markus Fugger in 1473. In 1477 the Fugger business was responsible for transferring church revenues from Sweden to Rome. Between 1508 and 1524, the company leased the Roman mint, the Zecca, manufacturing 66 types of coins for four different popes. After this the Fugger family was represented by only one manufactory in Rome, mostly due to the "
Sacco di Roma The Sack of Rome, then part of the Papal States, followed the capture of the city on 6 May 1527 by the mutinous troops of Charles V, Holy Roman Emperor during the War of the League of Cognac. Despite not being ordered to storm the city, with ...
" and the less German-friendly Medici Pope Clement VII.


Overseas trade

The commodity trade played a relatively small role compared to the two main branches of the Fugger business, banking and mining. It is only because of the associated exotic investments that Jakob Fugger's early trading expeditions take a prominent place in the history of the Fugger business. After Vasco da Gama's discovery of the sea route to India and the establishment of the Portuguese spice monopoly, Jakob Fugger took part in the spice trade and in 1503 opened a manufactory in Lisbon. He received permission to trade pepper, other spices, and luxury goods such as pearls and gemstones through Lisbon. Along with other merchant houses of Germany and Italy he contributed to a fleet of 22 Portuguese ships led by Francisco de Almeida that sailed to India in the year 1505 and returned in 1506. Even though one third of the imported wares had to be ceded to the King of Portugal the operation was still profitable. Soon afterwards the King declared the spice trade a monopoly of the crown in order to secure his income and exclude foreign merchants from participating. However, the Portuguese were still largely dependent on the copper delivered by Fugger which was an essential export good for the trade with India. Unlike the Welser family, Jakob Fugger's participation in the overseas trade was very cautious and conservative, and the only other operation of this kind he invested in was a failed trade expedition to the Maluku Islands led by the Spaniard Garcia de Loaisa.Häberlein 2006, p. 66 There is some evidence that he financed Magellan's famed voyage.


The great crisis of Jakob Fugger

Especially for mining projects in upper Hungary the Fugger company required enormous capital, which at the time it could not raise. Hence Cardinal Melchior von Meckau was the main sponsor of the Fugger business in 1496. The Prince-Bishop had secretly and unknown to his church chapter invested 150,000 guilders in the Fugger company in return for interest, thereby evading the official church ban on interest. When he died in Rome in 1509 this investment was uncovered. The Pope, the bishopric
Brixen Brixen (, ; it, Bressanone ; lld, Porsenù or ) is a town in South Tyrol, northern Italy, located about north of Bolzano. Geography First mentioned in 901, Brixen is the third largest city and oldest town in the province, and the artistic an ...
and the family of Meckau all claiming the inheritance now demanded the immediate payback of these assets which would have resulted in insolvency for Jakob Fugger. It was this situation that prompted Emperor Maximilian I to step in and assist his banker. On the condition of assisting Pope Julius II in a war against the Republic of Venice the Habsburg monarch was recognized as being the rightful heir of Cardinal Melchior von Meckau. The inheritance could now be settled by amortizing outstanding debts. Fugger also had to deliver jewels as compensation to the Pope. However, in return for his support, Maximilian I demanded the continuous financial support of his ongoing military and political campaigns. Since the death of his brothers Georg in 1506 and Ulrich in 1510, Jakob Fugger was now running the Fugger business as the sole policy and decision maker. The company was renamed into "Jakob Fugger und Gebrüder Söhne" (Jakob Fugger and Brothers Sons). In the following years up until his death Jakob Fugger managed to raise the family fortune which amounted to about 200,000 guilders in 1511 to more than 2,000,000 guilders, perhaps 2% of Europe's GDP.


Election of Charles V in 1519

Emperor Maximilian died in January 1519 and bequeathed to his grandson
Carlos I Carlos I may refer to: *Carlos I of Spain (1500–1558), also Charles V of the Holy Roman Empire *Carlos I of Portugal ''Dom'' Carlos I (; English: King Charles of Portugal; 28 September 1863 – 1 February 1908), known as the Diplomat ( pt, ...
the hereditary lands of House Habsburg with adjoining Burgundian lands as well as a disputed claim to the throne of the Holy Roman Empire. To secure his essential investments into House Habsburg Jakob Fugger decided to support the election of the 19-year-old claimant to the throne. In addition to Carlos I, the English King Henry VIII, the French King
Francois I Francis I (french: François Ier; frm, Francoys; 12 September 1494 – 31 March 1547) was King of France from 1515 until his death in 1547. He was the son of Charles, Count of Angoulême, and Louise of Savoy. He succeeded his first cousin once ...
and Frederick III, Elector of Saxony announced their candidacy. Francois I had already secured the votes of the
Archdiocese of Trier The Diocese of Trier, in English historically also known as ''Treves'' ( IPA "tɾivz") from French ''Trèves'', is a Latin Church ecclesiastical territory or diocese of the Catholic church in Germany.Electorate of the Palatinate The Electoral Palatinate (german: Kurpfalz) or the Palatinate (), officially the Electorate of the Palatinate (), was a state that was part of the Holy Roman Empire. The electorate had its origins under the rulership of the Counts Palatine o ...
as well as offering a sum of 300,000 guilders of election money. The
Prince-elector The prince-electors (german: Kurfürst pl. , cz, Kurfiřt, la, Princeps Elector), or electors for short, were the members of the electoral college that elected the emperor of the Holy Roman Empire. From the 13th century onwards, the princ ...
s consisted of the three archbishops of
Mainz Mainz () is the capital and largest city of Rhineland-Palatinate, Germany. Mainz is on the left bank of the Rhine, opposite to the place that the Main joins the Rhine. Downstream of the confluence, the Rhine flows to the north-west, with Ma ...
,
Cologne Cologne ( ; german: Köln ; ksh, Kölle ) is the largest city of the German western state of North Rhine-Westphalia (NRW) and the fourth-most populous city of Germany with 1.1 million inhabitants in the city proper and 3.6 millio ...
and Trier in addition to the
King of Bohemia The Duchy of Bohemia was established in 870 and raised to the Kingdom of Bohemia in 1198. Several Bohemian monarchs ruled as non-hereditary kings beforehand, first gaining the title in 1085. From 1004 to 1806, Bohemia was part of the Holy Roman ...
, the
Elector of the Palatinate The counts palatine of Lotharingia /counts palatine of the Rhine /electors of the Palatinate (german: Kurfürst von der Pfalz) ruled some part of Rhine area in the Kingdom of Germany and the Holy Roman Empire from 915 to 1803. The title was a kind ...
, the Margrave of Brandenburg and the Duke of Saxony. This was a difficult situation for Carlos I who now relied on the riches of Jakob Fugger to sway the election in his favor. Fugger transferred the enormous sum of more than 850,000 guilders to the Prince-electors which ultimately resulted in the unanimous election of Carlos I as Holy Roman Emperor on 28 July 1519. Out of this 850,000 guilders Fugger himself funded around 550,000 while another merchant house of Augsburg, the Welser family, contributed about 150,000 and three Italian bankers providing the rest. What today would be seen as bribery was common practice in the election of the Emperor. Exceptional however were the immense sums involved, mainly due to the keen competition among the princely candidates. A few days later the Pope granted Carlos I, now Charles V, the right to name himself Elected Emperor. It was only in 1530 that Charles V was crowned Emperor by the Pope in
Bologna Bologna (, , ; egl, label= Emilian, Bulåggna ; lat, Bononia) is the capital and largest city of the Emilia-Romagna region in Northern Italy. It is the seventh most populous city in Italy with about 400,000 inhabitants and 150 different na ...
. He was the last Emperor to receive a papal coronation. Charles V, since his election reigning over a realm ''where the sun never set'', was now deeply indebted to Jakob Fugger. In 1521 the debts amounted to more than 600,000 guilders. The Emperor amortized 415,000 of this sum and in return granted the Fugger company the silver and copper mining operations of Tyrol. During the Imperial Diet of 1523 in Nuremberg it was debated whether to restrict trade capital and the number of trade establishments companies were allowed to maintain. Jakob Fugger intervened and reminded the Emperor that ''"It is known that your imperial majesty could not have claimed the Roman crown without my help,..."'' (german: „Es ist auch wissentlich und liegt am Tage, dass Eure Kaiserliche Majestät die römische Krone ohne mein Zutun nicht hätte erlangen können,…“) The added demand of repayment of all debts eventually led to all discussions of trade restrictions and limits to monopolies being dropped. In addition to this Jakob Fugger was granted a concession to mine quicksilver and cinnabar in Almadén. The Fugger company was involved in the Spanish mining business up to the year 1645.


Marriage, heritage and successors

In 1498 the 40-year-old Jakob Fugger married Sybille Arzt (also: Artzt) Grand Burgheress of Augsburg, the 18-year-old daughter of an eminent Augsburg Grand Burgher. This marriage opened the opportunity for Jakob to elevate to Grand Burgher of Augsburg (German ''Großbürger zu Augsburg'') and later finally giving Jakob Fugger the long-awaited aspiration of a seat on the city council (German ''Stadtrat'') of Augsburg. Four years after the wedding, Jakob Fugger bought for his young wife 40,000 guilders worth of jewels from the treasure of Burgundy, among them the jewel known as the Three Brothers, which the Fuggers later sold to
Edward VI of England Edward VI (12 October 1537 – 6 July 1553) was King of England and Ireland from 28 January 1547 until his death in 1553. He was crowned on 20 February 1547 at the age of nine. Edward was the son of Henry VIII and Jane Seymour and the first ...
to become part of the Crown Jewels of England. Jakob wanted to demonstrate that he was after all equal to the Habsburgs, at least financially. However the jewels were left in a chest in the basement of his house for fear of theft and envy. The couple had no children. Seven weeks after her husband died Sybille Arzt married a business partner of Jakob and converted to the Protestant faith. Jakob Fugger died on 30 December 1525. The inventory performed by his heirs revealed assets totaling 3,000,058 guilders and liabilities amounting to 867,797 guilders resulting in a surplus of 2,132,261 guilders. Because he had no direct descendants, the company and its assets were bequeathed to his nephews
Raymund Raymund can be both a given name and surname. Notable people with the name include: Given name: * Raymund Fugger (1489–1535), German businessman, Reichsgraf and art collector * Raymund Hart (1899–1960), senior commander in the Royal Air Force d ...
and
Anton Fugger Anton Fugger (10 June 1493 – 14 September 1560) was a German merchant and member of the Fugger family. He was a nephew of Jakob Fugger. Biography Anton was the third and youngest son of George Fugger and Regina Imhof. He was born in Augsburg o ...
, who also led the company. Anton managed to double the family's fortune once more by 1546.


Religious views

Fugger was a lifelong
Roman Catholic Roman or Romans most often refers to: * Rome, the capital city of Italy *Ancient Rome, Roman civilization from 8th century BC to 5th century AD * Roman people, the people of ancient Rome *'' Epistle to the Romans'', shortened to ''Romans'', a let ...
. According to Stein, Fugger insisted that only Catholic inhabitants should "find care and cure" in the Fuggerei. As the
Reformation The Reformation (alternatively named the Protestant Reformation or the European Reformation) was a major movement within Western Christianity in 16th-century Europe that posed a religious and political challenge to the Catholic Church and in ...
progressed, the complex found itself located in an increasingly
Protestant Protestantism is a Christian denomination, branch of Christianity that follows the theological tenets of the Reformation, Protestant Reformation, a movement that began seeking to reform the Catholic Church from within in the 16th century agai ...
city of Augsburg. The Fugger family financed the rise to power of the House of Habsburg, who would play a prominent role in the Counter-Reformation.


Foundations and buildings of Jakob Fugger


Fugger chapel in the Annakirche

Together with his brother Ulrich and on behalf of his deceased brother Georg, Jakob Fugger founded the Fugger chapel in the Carmelite monastery's St. Anna church located in Augsburg. It also became the burial place of the three brothers. Construction began in 1509 and was finished in 1512. The chapel was modeled after Italian burial chapels with clear influences out of Venice and Rome, thereby becoming Germany's first renaissance construction. The interior was designed with the help of many notable German artists of the time, such as Albrecht Dürer, Hans Burgkmair, Jörg Breu the Elder and Hans Daucher. The church later became Protestant which is why only two other members of the Fugger family are buried there. The building is thought to have been built in preparation for Fugger's elevation into nobility and to distance himself from the local Patricians. Furthermore, it was a medium to preserve the name and memory of Fugger in the style of the Italian "Memoria" architecture.


Fuggerhäuser in Augsburg

The Fugger family already owned two houses in Augsburg in prominent locations when Jakob Fugger built the
Fuggerhäuser The Fuggerhäuser (''Fugger houses'') is a complex of houses on the Maximilianstraße in Augsburg, built for the Fugger family of businessmen. It is now owned by the Fugger-Babenhausen branch of the Fugger family who resides at Wellenburg castle ...
near the wine-market (now Maximilianstraße) from 1512 to 1515. Builder of this Residence was most likely Hans Hiebe. Inside the Fuggerhäuser, the Damenhof (Ladies courtyard) was modeled after the florencian style grand courtyards, thus becoming Germany's first secular renaissance building. The complex was expanded once more in 1523 to accommodate the receiving of illustrious guests. The Fuggerhäuser were the private residence and administrative center of Jakob Fugger and his wife Sybille Fugger-Arzt. Later members of the Fugger family enlarged the complex several times. The complex was mostly destroyed during air raids on Augsburg in World War II and rebuilt in a simplified way in 1955. The courtyards and several other rooms however are still in their original state. The houses are still owned by the Fugger family, partly being used to house the
Fürst Fugger Privatbank Fürst Fugger Privatbank is a small German regional bank in Augsburg, founded in 1954 and mainly serving the Swabia region of Bavaria, with 141 employees. Its name references the historical Fugger banking house that ceased to exist in the 17th c ...
.


St.-Moritz-Prädikatur-Stiftung

In 1515 Jakob Fugger advocated for an improved sermon in the church of his parish St. Moritz. In 1517 Pope Leo X issued a papal bull granting Fugger and his heirs the Patronage to the church and being able to choose the priest. The foundation still exists and the Fugger family still recommends the priest.


Fuggerei

Beginning in 1516 Jakob Fugger funded the construction of a settlement for craftsmen and day laborers in need. In 1523 52 houses of the estate were built. It was first named ''Fuggerei'' in 1531. Originally it was meant to house people who were in a difficult situation through no fault of their own until they could establish stable household on their own. The yearly rent was one symbolic guilder, though additionally requested were three daily prayers in the name of Fugger and his family. The settlement was expanded several times, lastly in 1973. About 150 people live in the Fuggerei today, still paying an annual rent of the equivalent of one guilder (0.88 €). The Fuggerei is a major tourist attraction of Augsburg and since 2006 also houses a museum. The settlement is still administered by the descendants of the Fugger family and financed through a foundation (originally from 1521).


Other foundations and buildings

Jakob Fugger made several contributions to churches and monasteries in Augsburg some of which still show the Fugger coat of arms. He funded the church San Blas in Almagro, Spain and the reconstruction of the Santa Maria dell’Anima in Rome.Norbert Lieb: ''Die Fugger und die Kunst. Band 1: Im Zeitalter der Spätgotik und der frühen Renaissance'', München 1952 He also built a chapel in Oberkirchberg as well as building a palace in Weißenhorn.


Literature


Academic

* Bruno Bushart: ''Die Fuggerkapelle bei St. Anna in Augsburg'', Munich 1994, . * Richard Ehrenberg: ''Das Zeitalter der Fugger, Geldkapital und Creditverkehr im 16. Jahrhundert'' (2 Vol), Jena 1896. * Peter Geffcken: ''Jakob Fuggers frühe Jahre. In: Martin Kluger (Augsburg): Jakob Fugger (1459–1525). Sein Leben in Bildern'', context medien und verlag, Augsburg 2009, . * Peter Geffcken: ''Jakob Fugger der Reiche (1459–1525): "Königsmacher", Stratege und Organisator"''. in
DAMALS 7/2004
* Peter Geffcken: ''Fugger – Geschichte einer Familie: "Die Handelsherren mit dem Dreizack"''. in

* Mark Häberlein: ''Die Fugger. Geschichte einer Augsburger Familie (1367–1650)'', Kohlhammer Verlag, Stuttgart 2006, . * Sarah Hadry: ''Die Fugger in Kirchberg und Weißenhorn. Herrschaftsverfassung und Leibeigenschaft, Konfessionalisierung und Residenzbildung'', Wißner, Augsburg 2007, . * Max Jansen: ''Die Anfänge der Fugger'', Leipzig 1907, . * Peter Kalus: ''Die Fugger in der Slowakei'', Augsburg 1999, . * Franz Karg: ''Eines Stadtherren Profil. Jakob der Reiche, der erste Fugger in Weißenhorn'', in: Weißenhorner Profile 1160-2010. Beiträge und Untersuchungen zur Stadtgeschichte (Kataloge und Schriften des Weißenhorner Heimatmuseums 5), Weißenhorn 2010. * Hermann Kellenbenz: ''Die Fugger in Spanien und Portugal bis 1560. Ein Großunternehmen des 16. Jahrhunderts'' (2 Vol), Munich 1990, . * Norbert Lieb: ''Die Fugger und die Kunst. Band 1: Im Zeitalter der Spätgotik und der frühen Renaissance'', Munich 1952. * Götz von Pölnitz: ''Jakob Fugger'', in: NDB, Neue Deutsche Biographie, 5. Bd. (1961), S. 710–716. * Götz von Pölnitz: ''Die Fugger''. Mohr & Siebeck, 6. Aufl. Tübingen 1999, . * Götz von Pölnitz: ''Jakob Fugger''. Mohr & Siebeck, Tübingen 1949. Preview
Jakob Fugger, Quellen und Erläuterungen
* Benjamin Scheller: ''Memoria an der Zeitenwende. Die Stiftungen Jakob Fuggers des Reichen vor und während der Reformation (ca. 1505–1555)'', Berlin 2004, . * Aloys Schulte: ''Die Fugger in Rom 1495–1523'' (2 Vol), Leipzig 1904, . * Marion Tietz-Strödel: ''Die Fuggerei in Augsburg'', Tübingen 1982, . * Eike Eberhard Unger: ''Die Fugger in Hall i. T.'', Tübingen 1967, ASIN B0000BTV29. * Jacob Strieder: ''Jacob Fugger the Rich'', Washington 1931, . * Barbara Günther: ''Sybille Fugger, die Frau Jakobs des Reichen.'', 1985,


Popular

* Franz Herre: ''Die Fugger in ihrer Zeit.'' Wißner-Verlag, 12. Auflage, Augsburg 2005, . * Tanja Kinkel: "Die Puppenspieler". München 1993 * Martin Kluger: ''Die Fugger in Augsburg. Kaufherrn, Stifter und Mäzene'', context verlag, Augsburg 2010, . * Martin Kluger: ''Die Fugger: Die deutschen Medici in und um Augsburg'', context verlag, Augsburg 2009, . * Martin Kluger: ''"Jakob Fugger (1459–1525). Sein Leben in Bildern"'', context medien und verlag, Augsburg 2009, * Martin Kluger: ''Die Fuggerei. Ein Führer durch die älteste Sozialsiedlung der Welt.'' context-verlag, Augsburg 2009, * Martin Kluger: ''Fugger – Italien. Geschäfte, Hochzeiten, Wissen und Kunst. Geschichte einer fruchtbaren Beziehung'', context medien und verlag, Augsburg 2010, . * Martin Kluger: ''The Fugger Dynasty in Augsburg. Merchants, Mining Entrepreneurs, Bankers and Benefactors''. context verlag Augsburg, Augsburg 2014, . * Günter Ogger: ''Kauf dir einen Kaiser. Die Geschichte der Fugger.'' Droemer Knaur, 17. Auflage, Munich 1995, . *
Greg Steinmetz Greg Steinmetz is an American journalist, author and securities analyst. Steinmetz was born and raised in Cleveland, Ohio. He graduated from Colgate University with a Bachelor of Arts degree in History and German, and earned a master's degree ...
, ''The Richest Man Who Ever Lived: The Life and Times of Jacob Fugger'' (New York, NY:
Simon & Schuster Simon & Schuster () is an American publishing company and a subsidiary of Paramount Global. It was founded in New York City on January 2, 1924 by Richard L. Simon and M. Lincoln Schuster. As of 2016, Simon & Schuster was the third largest publi ...
, 2015).


In fiction

* Peter Dempf: ''Das Amulett der Fuggerin'' BLT, Bergisch-Gladbach 2006, . * Rebecca Abe: ''Im Labyrinth der Fugger'' Gmeiner 2011, . * Patrick O'Brian: "The Thirteen Gun Salute" Collins (UK) 1989, . * Neal Stephenson: "
The Rise and Fall of D.O.D.O. ''The Rise and Fall of D.O.D.O.'' is a science fantasy novel by American writers Neal Stephenson and Nicole Galland. It was published in 2017. Premise The story follows the members of a secret U.S. government agency known as the Department of D ...
" William Morrow 2017, .


Family tree


See also

* List of wealthiest historical figures


References


Further reading

* ''The Richest Man Who Ever Lived: The Life and Times of Jacob Fugger'' by
Greg Steinmetz Greg Steinmetz is an American journalist, author and securities analyst. Steinmetz was born and raised in Cleveland, Ohio. He graduated from Colgate University with a Bachelor of Arts degree in History and German, and earned a master's degree ...
. 2015,
Simon & Schuster Simon & Schuster () is an American publishing company and a subsidiary of Paramount Global. It was founded in New York City on January 2, 1924 by Richard L. Simon and M. Lincoln Schuster. As of 2016, Simon & Schuster was the third largest publi ...
,


External links


Homepage of the "Fürstlich und Gräflich Fuggersche Stiftung"



Seminar-work including other literature
(PDF; 1,15 MB) *
Historic Lexicon of Bavaria: Kirchberg-Weißenhorn, Lordship (Sarah Hadry)
* {{DEFAULTSORT:Fugger, Jakob 1459 births 1525 deaths German bankers Jakob German Roman Catholics 15th-century German businesspeople 16th-century German businesspeople Maximilian I, Holy Roman Emperor