# The Medici The bank, the control of Florence, the Renaissance patronage, the Medici popes, and the Grand Dukes of Tuscany. *This story part of: The bankers* *This story part of: Money and finance* *The Renaissance: the rebirth of antiquity parallel this story* *The history of accounting parallel this story* ## 1397 — 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. ## c. 1413 — Medici Bank becomes banker to the Papacy 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. ## 1429 — Cosimo de' Medici inherits the bank 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. ## 1433 — Cosimo de' Medici exiled from Florence 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. ## 1434 — Cosimo de' Medici becomes de facto ruler of Florence 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. ## 1439 — Council of Florence hosted with Medici funds 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. ## 1464 — Cosimo de' Medici dies and is named Father of the Fatherland 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. ## 1469 — Lorenzo the Magnificent takes power 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. ## 26 April 1478 — Pazzi conspiracy 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. ## c. 1480 — Lorenzo the Magnificent patronises Renaissance artists 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. ## 8 April 1492 — Lorenzo the Magnificent dies 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. ## 1494 — Medici expelled and the bank collapses 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. ## 1512 — Medici restored to power in Florence 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. ## 9 March 1513 — Giovanni de' Medici elected Pope Leo X 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. ## 19 November 1523 — Giulio de' Medici elected Pope Clement VII 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. ## May 1527 — Sack of Rome during Clement VII's papacy 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. ## 1532 — Alessandro de' Medici becomes first Duke of Florence 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. ## 1547 — Catherine de' Medici becomes Queen of France 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. ## 1569 — Cosimo I de' Medici named Grand Duke of Tuscany 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. ## 1600 — Marie de' Medici becomes Queen of France 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. ## 1737 — Medici dynasty ends with Gian Gastone 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.