Giovanni di Bicci founds the Medici Bank
Giovanni di Bicci de' Medici founded the Medici Bank in Florence in 1397. It grew into one of the largest and most respected banks in Europe.
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The bank, the control of Florence, the Renaissance patronage, the Medici popes, and the Grand Dukes of Tuscany.
The bank, the control of Florence, the Renaissance patronage, the Medici popes, and the Grand Dukes of Tuscany.
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Giovanni di Bicci de' Medici founded the Medici Bank in Florence in 1397. It grew into one of the largest and most respected banks in Europe.
In the 1410s the Medici Bank secured the profitable business of handling the finances of the Papacy. Papal accounts became the foundation of the bank's wealth and influence.
Cosimo de' Medici took over the family bank on his father's death in 1429. He expanded its branches across Europe and used its wealth to build political power.
Rival families led by the Albizzi had Cosimo de' Medici exiled from Florence in 1433. His absence lasted only about a year before his supporters regained control.
Cosimo de' Medici returned from exile in 1434 and became the effective ruler of Florence while keeping republican forms. His informal control lasted until his death in 1464.
Cosimo helped bring the great church council to Florence in 1439, where Eastern and Western churches briefly agreed on union. His patronage raised the city's prestige and brought Greek scholars to Italy.
Cosimo de' Medici died in 1464 and the city honoured him with the title Pater Patriae. His son Piero the Gouty succeeded to leadership of the family.
Lorenzo de' Medici, later called the Magnificent, took over leadership of the family and Florence in 1469 with his brother Giuliano. His rule became a high point of Renaissance culture and diplomacy.
On 26 April 1478 members of the Pazzi family and allies attacked Lorenzo and Giuliano de' Medici during Mass in Florence Cathedral. Giuliano was killed and Lorenzo wounded but survived, and the plotters were brutally punished.
Through the 1480s Lorenzo supported artists and scholars including Botticelli and the young Michelangelo. His court helped make Florence a centre of Renaissance art and learning.
Lorenzo de' Medici died in April 1492, leaving his less able son Piero in charge. His death is often taken as the end of the golden age of Medici Florence.
In 1494 the people of Florence drove out Piero de' Medici as a French army approached, and the family's bank was wound down. The Medici would not return to power for nearly two decades.
With Spanish and papal support the Medici returned to control Florence in 1512. The restoration set the stage for the family's rise to princely rule.
Giovanni de' Medici, son of Lorenzo the Magnificent, was elected Pope Leo X in March 1513. His lavish spending and sale of indulgences helped provoke the Protestant Reformation.
Giulio de' Medici became Pope Clement VII in November 1523. His reign saw the Sack of Rome and the break of England from the Roman Church over Henry VIII's divorce.
Mutinous troops of Emperor Charles V sacked Rome in May 1527 while Clement VII sheltered in the Castel Sant'Angelo. The disaster shook the papacy and Medici prestige.
In 1532 the Florentine republic was ended and Alessandro de' Medici was made hereditary Duke of Florence. The change turned Medici dominance into formal monarchy.
Catherine de' Medici became queen consort of France when her husband became King Henry II in 1547. She later dominated French politics as regent during the Wars of Religion.
Pope Pius V granted Cosimo I de' Medici the title of Grand Duke of Tuscany in 1569. The family now ruled a substantial Italian state as sovereign princes.
Marie de' Medici married King Henry IV of France in 1600 and later served as regent for her son Louis XIII. She was the second Medici woman to become a French queen.
Gian Gastone de' Medici, the last male of the ruling line, died in 1737 without an heir. Tuscany then passed to the House of Lorraine, ending Medici rule.