Giovanni di Bicci de' Medici

This article is about the founder of the Medici Bank. For the distantly related 16th century Pope, born Giovanni Angelo Medici, see Pope Pius IV.
Giovanni de' Medici

Spouse(s) Piccarda Bueri

Issue

Noble family Medici
Father Averardo de' Medici
Mother Jacopa Spini
Born 1360
Pen Island, Republic of Florence
Died 20 February 1429 (aged 69)
Florence, Republic of Florence

Giovanni di Bicci de' Medici (c. 1360 – February 20/28, 1429) was an Italian banker, a member of Medici family of Florence, and the founder of the Medici Bank. While other family members, such as Chiarissimo di Giambuono de' Medici, who served in the Signoria in 1201, and Salvestro de' Medici, who was implicated in the Ciompi Revolt of 1378, are historically significant, Giovanni's founding of the family bank truly began the family's rise to power in Florence.[1] He was the father of Cosimo de' Medici (Pater Patriae), great-grandfather of Lorenzo de' Medici (the Magnificent) and great-great-great-grandfather of Cosimo I de' Medici, Grand Duke of Tuscany.

Biography

Giovanni di Bicci de' Medici was born in Florence, the son of Averardo de' Medici and Jacopa Spini. Though he is considered the founder of the rich Medici dynasty, he was not born into a rich family. The little money left by his father was divided between a widow and five sons, leaving Giovanni with little.

Giovanni was somewhat uninterested in politics, unless the issues pertained to his family or bank. Often when his name was put forward to participate in the Florentine government (reggimento), he chose to pay the fine rather than serve, although he did serve one term as Gonfaloniere.

Giovanni was at the head of an early "multi-national" company, as the family bank, his main commercial interest, had branches throughout the northern Italian city-states and beyond. In 1414, Giovanni bet on the return of the papacy to Rome, and was correct. Rewarding Giovanni for his support, the Pope gave Giovanni's general manager control of the Apostolic Chamber.[2] Subsequent popes made use of the Medici banks. Giovanni was also rewarded with tax-farming contracts and the rights to many alum mines. He set his family on the path to becoming one of the richest dynasties in Europe, thereby making an essential stride towards its later cultural and political eminence. One way in which he laid the groundwork for this was by marrying Piccarda Bueri, whose family was old and respectable and who brought a dowry.[3]

When he died, he was one of the richest men in Florence, as shown by his tax report of 1429.[4] In 1420, Giovanni had given the majority of control of the bank to his two sons, Cosimo and Lorenzo.[5] He was buried in the Old Sacristy of the Basilica of San Lorenzo, Florence[6] and his wife was buried with him after her death four years later.

Bust of Giovanni di Bicci de' Medici by Romeo Pazzini (1855-1936); Museo della città di Rimini

Notes

  1. ↑ Grendler, Paul F., M. J. B. Allen, William R. Bowen, Margaret L. King, Stanford E. Lehmberg, Nelson H. Minnich, Sara T. Nalle, Robert J. Rodini, Ingrid D. Rowland, David B. Ruderman, Erika Rummel, J.H.M. Salmon, and William A. Wallace, O.P., eds. Encyclopedia of the Renaissance. New York, New York: Charles Schribner’s Sons, 1999. S. v. “Medici, House of.”
  2. ↑ Grendler, Paul F., M. J. B. Allen, William R. Bowen, Margaret L. King, Stanford E. Lehmberg, Nelson H. Minnich, Sara T. Nalle, Robert J. Rodini, Ingrid D. Rowland, David B. Ruderman, Erika Rummel, J.H.M. Salmon, and William A. Wallace, O.P., eds. Encyclopedia of the Renaissance. New York, New York: Charles Schribner’s Sons, 1999. S. v. “Medici, Cosimo de.’”
  3. ↑ Pernis & Adams 2006, p. 8
  4. ↑ Grendler, Paul F., M. J. B. Allen, William R. Bowen, Margaret L. King, Stanford E. Lehmberg, Nelson H. Minnich, Sara T. Nalle, Robert J. Rodini, Ingrid D. Rowland, David B. Ruderman, Erika Rummel, J.H.M. Salmon, and William A. Wallace, O.P., eds. 'Encyclopedia of the Renaissance'. New York, New York: Charles Schribner’s Sons, 1999. S. v. “Medici, Cosimo de.’”
  5. ↑ Grendler, Paul F., M. J. B. Allen, William R. Bowen, Margaret L. King, Stanford E. Lehmberg, Nelson H. Minnich, Sara T. Nalle, Robert J. Rodini, Ingrid D. Rowland, David B. Ruderman, Erika Rummel, J.H.M. Salmon, and William A. Wallace, O.P., eds. Encyclopedia of the Renaissance. New York, New York: Charles Schribner’s Sons, 1999. S. v. “Medici, Cosimo de.’”
  6. ↑ Pernis & Adams 2006, p. 9

References

Children

External links

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