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De Medici Family
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Transcript of De Medici Family
De MediciA Family of Bankers
By Sam Knewstub
Medici Wealth
Owned vast amounts of gold florinsPricless ArtLarge land holdings in the Mugello regionGreat political power in florence through their success in the banking industry
Giovanni di Bicci de Medici 1397-1429
Began the businessTrained along side his elder brother francesco by Vieri di cambioBecame general manager of Rome branch which split into 3 banksFormed a partnership in the business with Benedetto di Lippaccio de’ Bardi then later Gentile di Baldassare Buoni
Cosimo de’ Medici 1428-1464
A.K.A. Cosimo the Elder or Cosimo IActed as an ambassador promoting peace in the regionLiberally spent the family fortune to promote renaissance behavior
Piero di Cosimo de’ Medici 1464-1469
A.K.A. Piero the GoutyMarried Lucrezia Tornabuoni link to florentine nobilityCalled up many long-standing loansEscaped attempted coup due to warnings from Lorenzo and Giovanni II Bentivoglio
Lorenzo de’ Medici 1469-1492
A.K.A. The MagnificentRuler of florentine republicSpent a large amount of florins on art and philanthropyMade bad loans and caused the collapse of several branchesHE HAD NINE CHILDREN
Effect on Banking Industry
Creation of double-entry systemCredits and Debits now in the ledger system!
The Decline
Near collapse of the banks in London and BrugesExtreme shortage of cash in Roman branch from Papal CourtNiccolo Machiavelli lays on the social pressure
SourcesFornaciari, Gino, and others. "Secrets of the Medici." Archaeology (Vol. 58, No. 4) July/Aug. 2005: 36-40. SIRS Renaissance. Web. 09 February 2010."Cosimo II." Encyclopædia Britannica . Encyclopædia Britannica Online School Edition . Encyclopædia Britannica, 2010. Web. 9 Feb. 2010 <http://school.eb.com/eb/article-9026465>."Europe, history of." Encyclopædia Britannica . Encyclopædia Britannica Online School Edition . Encyclopædia Britannica, 2010. Web. 9 Feb. 2010 <http://school.eb.com/eb/article-58340>. "Florence." Encyclopædia Britannica . Encyclopædia Britannica Online School Edition . Encyclopædia Britannica, 2010. Web. 9 Feb. 2010 <http://school.eb.com/eb/article-22454>.