“Jay” was a railroad and gold speculator and financier. Here are some interesting hig… He didn’t hoard his wealth which was one of the secrets to his success! From those ports the copper was shipped to the Russian region and additionally through Antwerp to Lisbon where it was an important Portuguese trade good destined for the export to India. As a result, he made his fortune from extortion, corruption, and stealing public funds. Walmart is the world’s largest retailer. Jakob Fugger – peak net worth: $277 billion Fittingly dubbed 'Jakob the Rich', this banker, merchant and mining pioneer was Europe's richest man during the early 16th century. 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. He gained his wealth through real estate (purchasing burning property and seizing property from criminals), slaves, and minerals. The foundation still exists and the Fugger family still recommends the priest. About 150 people live in the Fuggerei today, still paying an annual rent of the equivalent of one guilder (0.88 €). Top 10 Richest People of All Time in Human History. After starting his own small oil company in 1870, he soon monopolized the production and ownership of oil in the U.S. 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. A German-American, Weyerhauser made his vast fortune through the timber business. The 1st Duke of Lancaster was an English nobleman and was one of King Edward III’s most trusted military leaders. However, the Portuguese were still largely dependent on the copper delivered by Fugger which was an essential export good for the trade with India. A. Fugger had the biggest house in Augsburg, Germany, wore furs and got driven around in coach with 12 horses. 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. As the Reformation progressed, the complex found itself located in an increasingly Protestant city of Augsburg. He sold his company to JP Morgan in 1901 for $480 million and then devoted his life to philanthropy, giving away the majority of his wealth. Jakob Fugger, was of German descent. It stretched from Korea and China to Europe, which was almost five million square miles of land. The Fugger's bank account funded conquests all over Europe, but eventually, they became bankrupt and the company folded after 300 years of prosperity. A German-American businessman, he became the first multi-millionaire in America by as a merchant and investor. Some consider him to be the richest in history, but recent research shows the Roman currency may not be worth as thought. Francois I had already secured the votes of the Archdiocese of Trier and the Electorate of the Palatinate as well as offering a sum of 300,000 guilders of election money. 5 Jakob Fugger, (6 March 1459 – 30 December 1525), Net Worth – $221 billion. He lent money to Charles V so he could become Holy Roman Emperor. He financed the rise of Maximilian I and made considerable contributions to secure the election of the Spanish king Charles I 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. His wealth came gold, jewels, and his lands. The Fugger family had already established themselves as successful merchants in the city. Known as the “Oracle of Omaha,” he is the most successful value investor of the 20th century. It was this situation that prompted Emperor Maximilian I to step in and assist his banker. He dramatically enlarged the Roman Empire, annexing Egypt, expanded possessions in Africa, expanded into Germany, and completed the conquest of Spain. Jakob Fugger was one of the richest businessmen and he was also known as Jakob Fugger the Rich. At one point, Fugger & family had an almost monopolistic hold on the European copper market. 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 (1505/06) as well as a failed Spanish trade expedition to the Maluku Islands. Those living in the complex of … This field is for validation purposes and should be left unchanged. Within a few decades he expanded the family firm to a business operating in all of Europe. To put this in perspective, if he were to spend $1 million dollars a day, it would take 359 years to spend his entire fortune! 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. He received permission to trade pepper, other spices, and luxury goods such as pearls and gemstones through Lisbon. He founded Ford Motor Company in 1903 and created the first affordable automobile for the middle class. Jakob Fugger made several contributions to churches and monasteries in Augsburg some of which still show the Fugger coat of arms.  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. , The expansion of high-risk, albeit very lucrative business connections to Maximilian I was undoubtedly promoted by Jakob. 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. Vanderbilt made his wealth in the steamboat, shipping and later the railroad industry.  Part of the copper was also transported through Wiener Neustadt and the Adriatic ports Triest and Zengg to the copper market in Venice. If he had the same percentage of current U.S. GDP, he would have had $400 billion. Jahrhundert (2 Bde), Jena 1896, Maltby, William, The Reign of Charles V, St. Martin's Press, 2002, Negotiating the French Pox in Early Modern Germany by Claudia Stein, one of the wealthiest individuals in modern history, Learn how and when to remove this template message, "Mineral and political wealth of Banská Bystrica mining region has flown", "Luminarium Encyclopedia: Maximilian I, Holy Roman Emperor", "Die erste deutsche Handelsfahrt nach Indien, 1505/06 : ein Unternehmen der Welser, Fugger und anderer Augsburger sowie Nürnberger Häuser", "Three Royal Jewels: The Three Brothers, the Mirror of Great Britain and the Feather", Homepage of the "Fürstlich und Gräflich Fuggersche Stiftung", Historic Lexicon of Bavaria: Kirchberg-Weißenhorn, Lordship (Sarah Hadry), https://en.wikipedia.org/w/index.php?title=Jakob_Fugger&oldid=990710533, Short description is different from Wikidata, Articles needing additional references from April 2015, All articles needing additional references, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with SUDOC identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, Tanja Kinkel: "Die Puppenspieler". , 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. Since the late 1480s Jakob Fugger more and more dominated the company's policies, although the eldest brother Ulrich still formally led the company. Which mean that his net worth would be the equivalent of nearly $370 Billion in 2014. Known as the “king of kings”, Munsa ruled the Malian Empire (modern-day Mali, Timbuktu, and Ghana). SEARCH. The yearly rent was one symbolic guilder, though additionally requested were three daily prayers in the name of Fugger and his family. Early dealings in Rome are attributed to the cleric Markus Fugger in 1473. 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 Bäsinge. He was known to be a very tolerant ruler, religiously and politically. The complex was expanded once more in 1523 to accommodate the receiving of illustrious guests. München 1993. The November issue of Money magazine features “The 10 Richest People of All Time.” Bill Gates is #9, the only living super-rich person on the list, his net worth totaling $87 billion. 1495-1525. Rufus was given 250,000 acres of land in England. , 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. Among all non-kings and non-emperors, Jakob Fugger was the richest person to have ever lived. , The Fugger family already owned two houses in Augsburg in prominent locations when Jakob Fugger built the Fuggerhäuser near the wine-market (now Maximilianstraße) from 1512 to 1515. Even though one third of the imported wares had to be ceded to the King of Portugal the operation still made significant profit. ← Financial Lessons From Broke Athletes and Celebrities – How They Lost it All! Their combined net wealth of $8.7 trillion is equivalent to both Japan and Germany’s GDP! Like Carnegie, he became a philanthropist, founding the University of Chicago, the Rockefeller Foundation, and many other institutions. The Prince-Bishop had secretly and unknown to his church chapter invested 150,000 guilders into the Fugger company in return for interest, thereby evading the official church ban on interest. In return, Fugger was able to maintain his mining monopoly of copper and silver. Every year Forbes publishes the richest 500 people in the world. His companies account for 40% fo the listings on the Mexican Stock Exchange. His net worth is estimated to be 15 years worth of imperial revenue. A few years before his death his son Jakob Fugger the Elder was already one of the richest citizens of Augsburg. Exceptional however was the immense sums involved, mainly due to the keen competition among the princely candidates. Seven weeks after her husband died Sybille Arzt married a business partner of Jakob and converted to the Protestant faith. Nicolas II was the last Tsar and monarch of Russia. But what about Jeff Bezos-the founder of Amazon, whose net worth is $174.4 billion is the richest person in 2020. For transportation to the ports of Gdańsk, Stettin, and Lübeck on the Baltic Sea Fugger funded the construction of a new road across the Jablunkov Pass. 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. 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 merchant, mining entrepreneur, and banker. , German merchant, mining entrepreneur, and banker, Background, education and early years in Venice, Foundations and buildings of Jakob Fugger, Richard Ehrenberg: Das Zeitalter der Fugger, Geldkapital und Creditverkehr im 16. He owned castles and estates across England and France and as Earl of Lancaster the greatest landowner in the north of England. In addition to Carlos I, the English King Henry VIII, the French King Francois I and Frederick III, Elector of Saxony announced their candidacy. 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. $11.5B. The houses are still owned by the Fugger family, partly being used to house the Fürst Fugger Privatbank. The progenitor of the lineage that we know today was the weaver Hans Fugger, who in 1367 moved north from the village of Graben to what was then the Free Imperial City of Augsburg. The German merchant was born on March 6, 1459 in the Free Imperial City of Augsburg, back then part of the Holy Roman Empire (modern-day Germany). According to the Forbes’ Richest People in the World” 2019 list, Bezos was worth $131 billion. John D. Rockefeller ($380 to $460 billion) The Rockefeller’s name has become so firmly ingrained in … »Fucker advenit« – »Fugger has arrived« is noted in the Augsburg tax register. A chapel funded by him and built from 1509 to 1512 is Germany's first renaissance building and contains the tombs of the brothers Ulrich, Georg and Jakob. He was ousted and killed in 2011 during the Arab Spring. In 1477 the Fugger business was responsible for transferring church revenues from Sweden to Rome. Steinmetz, Greg. The Jewish German family dominated banking and finance in Europe, becoming one of the most powerful and richest families in the 19th century. Jakob Fugger is the best-known face of the Fugger family. He masterminded the transportation boom in America. The church later became Protestant which is why only two other members of the Fugger family are buried there. It is believed that Crassus’ net worth equaled the total annual budget of the Roman treasury. Jakob Fugger of the Lily Net Worth = $221 Billion [Approximately] (6 Mar 1459 – 30 Dec 1525) Jacob Fugger burning the debt papers of Emperor Charles V in 1535’ | Painting by Karl Becker, 1866. With his support of the Habsburg dynasty as a banker he had a decisive influence on European politics at the time. His wealth came from producing gold and salt, which accounts for 50% of the world’s supply. He began his education at the age of 14 in Venice, which also remained his main residence until 1487. He founded Carnegie Hall, Carnegie Mellon University, and many other philanthropic causes. He provided loans to the independent silver mine owners in the Salzburg Slate Alps which had constant need for new capital. Unlike conquering armies before, his armies were banned from personal looting. Greg Steinmetz is a journalist with a passion for the past, whose recent work The Richest Man Who Ever Lived, focuses on the influential and bold (but not particularly likeable) sixteenth-century German banker Jakob Fugger (1459-1525).  When he died in Rome in 1509 this investment was uncovered. Jakob the Rich was a German merchant who made his fortune through textiles, mercury, and cinnamon. Jakob Fugger - $221 billion With a last name like that, you kind of have to be rich. A Step-by-Step Process on How to be More Effective and Efficient at Life! Maximilian then promised to repay all loans of its predecessor to Jakob Fugger. Jakob Fugger – $400 billion. His portrait with the gold cap, which was made by Albrecht Dürer, shows him at the high point of his powers.” He supposedly owned more than 50 Rolls Royces and used a 185-carat diamond (worth $200 million) as a paperweight. His net worth is reportedly $160 billion. Since he ruled for 40 years and received 25 tons of gold a year, just the gold alone in today’s value would be over $2 trillion dollars! Born Shanbao and from the Manchu Niohuru clan, he was an official of the Qing dynasty and a favorite of the Qianlong Emperor. At the same time he was a cleric and held several prebendaries, even though he never lived in a monastery. Born as Temujin, he became the leader of the largest contiguous empire in history. , Jakob's older brothers Ulrich (1441–1510) and Georg (1453–1506) created the basis for the rise of the company in Europe.  Jakob wanted to demonstrate that he was after all equal to the Habsburgs, at least financially. 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. The Pope, the bishopric Brixen 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. Through this method he eventually established a dominant and almost monopolistic hold on the copper trade in Central Europe. The Prince-electors consisted of the three archbishops of Mainz, Cologne and Trier in addition to the King of Bohemia, the Elector of the Palatinate, the Margrave of Brandenburg and the Duke of Saxony.  Following the death of Pope Alexander VI in August 1503 Jakob Fugger intensified his contacts to the Vatican in Rome. The family earned its wealth through commerce and banking. Most of America's Gilded Age fortunes have dissipated over time. Gadhafi overthrew the Libyan government in 1969, ruling as a dictator for over 40 years. The inheritance could now be settled by amortizing outstanding debts. The archduke had to resign under the pressure from the estates, who accused him of mismanagement, and his possessions fell to the king. The complex was mostly destroyed during air raids on Augsburg in World War II and rebuilt in a simplified way in 1955. Alexander Turney Steward was an Irish immigrant and created a profitable and extensive dry goods business. Bill Gates is number #2 at $96.5 billion and Warren Buffett, “The Oracle of Omaha” is number #3 with a net worth of $82.5 billion. Fugger was a major merchant, mining entrepreneur and banker of Europe between ca. Nr 3 Jakob Fugger Market Watch. The Emperor amortized 415,000 of this sum and in return granted the Fugger company the silver and copper mining operations of Tyrol. As of 1525 they also had the right to mine quicksilver and cinnabar in Almadén. The chapel was modeled after Italian burial chapels with clear influences out of Venice and Rome, thereby becoming Germany's first renaissance construction. By this measure (his net worth at about 2% of European economic output), Jacob Fugger, who died in 1525 in Augsburg Germany was the richest man who ever lived. The Earl of Arundel is the oldest extant earldom and the oldest extant peerage in the Peerage of England. Hence Cardinal Melchior von Meckau was the main sponsor of the Fugger business in 1496. He founded the first and largest department store in lower Manhattan at the time. Sorry, your blog cannot share posts by email. , The Fugger family were the first German trading house in a direct business relationship with the Roman Curia. It also became the burial place of the three brothers. Born Gaius Octavius, he was Julies Caesar’s grand-nephew and heir as his adopted son. He was a founding member of the Order of Garter and Corpus Christi College in Cambridge. Two other Americans […] He is known as Jakob Fugger the Rich or sometimes Jakob II.  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. Need proof of his wealth? Also by uniting the East and West, he is credited for promoting science, arts, law, international trade, and many other advancements. , A few days later the Pope granted Carlos I, now Charles V, the right to name himself Elected Emperor. He was rewarded with numerous holdings and land grants. Because of the corruption within the church, Martin Luther was prompted to write his 95 Thesis. , Because he had no direct descendants, the company and its assets were bequeathed to his nephews Raymund and Anton Fugger, who also led the company. More sales followed in 1508 where he sold manor Schmiechen and in 1514 where he sold the lordship Biberbach to Fugger. The Books of Kings states Solomon collected 666 talents (25 tons) of gold each year (1 Kings 10:14), a huge amount of money for a small nation like Israel. The expansion continued with the construction of smelting plants in Neusohl, Arnoldstein in Carinthia, Hohenkirchen in Thuringia and Moschnitz. The Fuggerei is a major tourist attraction of Augsburg and since 2006 also houses a museum. In exchange for the loan, Fugger received the right to 1,000lbs of silver. He saved the U.S. government from collapse during the War of 1812. 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 and Schladming to sell their silver directly to the Fugger family instead of intermediary traders. He was a German businessman who used to deal in mining and banking. It was only in 1530 that Charles V was crowned Emperor by the Pope in Bologna. He was a philanthropist Vanderbilt University is named after him. He had so much that silver was devalued and considered to be common as stone. As a result, they were at times entitled to all the silver and copper out of Tyrol. America's Richest Families July 2015. The list, including the “Honorable Mentions”, shows rulers, monarchs, and emperors of countries that drew their wealth from the country they ruled. So, who are the richest people to have ever lived? Within a few decades he expanded the family firm to a bu… Jakob Fugger — Despite being worth an estimated $400 to $500 billion, most people haven’t learned about this Catholic, German, Renaissance-era mogul in their history lessons. The Medicis produced four popes, supported artists such as Leonardo da Vince, Michelangelo, and Botticelli. In 1066, William of Normandy, also known as William the Conqueror, became the first Norman King of England. Award-Winning Entrepreneur, Wealth Manager and CEO | Chief Editor, Author, Keynote Speaker, Consultant ArtofThinkingSmart.com | Political Consultant | Army Officer National Guard | Living To Fulfill Needs, Solve Problems, and Live Passionately! The building is thought to have been built in preparation for Fugger's elevation into nobility and to distance himself from the local Patricians. 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. The settlement is still administered by the descendants of the Fugger family and financed through a foundation (originally from 1521). A responsibility to pay the amount of 100,000 guilders of war reparations to Venice was eventually financed by Jakob Fugger.  In the course of his life Jakob Fugger also became lord of more than 50 smaller villages.. JAKOB FUGGER – PEAK NET WORTH: $277 BILLION The Gospel Herald. 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