| Jacob Fugger |
Article Index for Jacob |
Website Links For Jacob |
Information AboutJacob Fugger |
| CATEGORIES ABOUT JACOB FUGGER | |
| bankers | |
| walhalla enshrinees | |
| 1459 births | |
| 1525 deaths | |
| SHOPPER'S DELIGHT | |
|
Jacob Fugger, nicknamed "the Rich" ( 6 March 1459 in Augsburg , Holy Roman Empire – 30 December 1525 in Augsburg), was a Banker and a member of the Fugger family. A trader like his brothers, he learned Double-entry Bookkeeping (keeping track of both credits and debits) in the Adriatic Port of Venice. He was well-known throughout Europe, and used his eventual fortune to loan money to its rulers. EARLY LIFE Fugger was the son of a weaver who settled in the southern German town of Augsburg by the late fifteenth century. RISE TO WEALTH Inheriting his father's business of trading, he expanded the family enterprise to the Adriatic sea via the port of Venice, where Fugger learned Double-entry Bookkeeping . When asked if he wanted to retire, Fugger replied that he intended to keep making money until he dropped dead. ELECTION OF CHARLES V Fugger provided Charles V with the money needed to bribe the seven electors to make him Holy Roman Emperor. Fugger often provided mercenary armies with monetary resources so they could wage war against one another. |