My three takeaways:
- Cornered the copper market was responsible for all of Europe’s copper supply in the 1400s-1500s
- Bankrolled the Holy Roman Empire. Took a cut of all indulgence payments. Linked to Martin Luther’s protestant reformation. Funded projects like the Sistine Chapel.
- Died at age 66 with no children. Family mismanaged his wealth. Historians say his wealth was equal to about 2% of Europe GDP the equivalent of $512 Billion dollars today!
Created banking before banking was a thing!
Seems like a bit of a mother Fugger.
What do they say fortunes are usually gone by the third generation?
"Trailer park to Trailer park in 3 generations" is a saying my buddy who is an estate planner likes to say....
shirt sleeve to shirt sleeve in 3 generations