Jakob Fugger is responsible for his family's …

Years: 1488 - 1488

Jakob Fugger is responsible for his family's business in Augsburg, Tyrol, Venice and Rome.

Around 1485, the family had also founded manufactories in Innsbruck.

Through a small loan, he there had first come into contact with Archduke Sigismund, a member of the Habsburg family.

The archduke, as the sole owner of the Tyrol property rights, has handed out permissions for mining operations to private investors which in return have to pay a share of their profits to Sigismund.

Despite this income he is constantly short of money owing to a lavish lifestyle, several illegitimate children and his extensive construction projects.

A responsibility to pay the amount of one hundred thousand guilders of war reparations to Venice is eventually financed by Jakob Fugger.

In 1488, the total debt already amounts to more than one hundred and fifty thousand guilders.

Notable is the form of payment: instead of paying the Fürst directly, the Fugger family pays the money to his creditors as well as providing the wages for the royal court and craftsmen.

Related Events

Filter results