House of Medici
The House of Medici was an Italian banking family and political dynasty that first consolidated power in the Republic of Florence under Cosimo de' Medici and his grandson Lorenzo "the Magnificent" during the first half of the 15th century. The family originated in the Mugello region of Tuscany, and prospered gradually in trade until it was able to fund the Medici Bank. This bank was the largest in Europe in the 15th century and facilitated the Medicis' rise to political power in Florence, although they officially remained citizens rather than monarchs until the 16th century.
In 1532, the family acquired the hereditary title Duke of Florence. In 1569, the duchy was elevated to the Grand Duchy of Tuscany after territorial expansion. The Medici ruled the Grand Duchy from its inception under the builder Cosimo I until 1737, with the death of Gian Gastone de' Medici. The Medici produced four popes of the Catholic Church—Pope Leo X, Pope Clement VII, Pope Pius IV and Pope Leo XI —and two queens of France—Catherine de' Medici and Marie de' Medici. The Medici's grand duchy witnessed degrees of economic growth under the early grand dukes, but was bankrupt by the time of Cosimo III de' Medici.
The Medicis' wealth and influence was initially derived from the textile trade guided by the wool guild of Florence, the Arte della Lana. Like other families ruling in Italian signorie, the Medici dominated their city's government, were able to bring Florence under their family's power, and created an environment in which art and humanism flourished. The Italian Renaissance was inspired by the Medici along with other families of Italy, such as the Visconti and Sforza in Milan, the Este in Ferrara, the Borgia and Della Rovere in Rome, and the Gonzaga in Mantua.
The Medici Bank, from when it was created in 1397 to its fall in 1494, was one of the most prosperous and respected institutions in Europe, and the Medici family was considered the wealthiest in Europe for a time. From this base, they acquired political power initially in Florence and later in wider Italy and Europe. They were among the earliest businesses to use the general ledger system of accounting through the development of the double-entry bookkeeping system for tracking credits and debits.
The Medici family financed the construction of Saint Peter's Basilica and Florence Cathedral, and were patrons of Donatello, Brunelleschi, Botticelli, Leonardo da Vinci, Michelangelo, Raphael, Machiavelli, Galileo, and Francesco Redi, among many others in the arts and sciences. They funded the invention of the piano, and arguably that of opera. They were also protagonists of the Counter-Reformation, from the beginning of the Reformation through the Council of Trent and the French Wars of Religion.
History
13th century (1200s)
The Medici family came from the agricultural Mugello region north of Florence, and they are first mentioned in a document of 1230. The origin of the name is uncertain. Medici is the plural of medico, meaning "medical doctor".In 1293, the Ordinances of Justice were enacted; effectively, they became the constitution of the Republic of Florence throughout the Italian Renaissance.
For most of the 13th century, the leading banking centre in Italy was Siena. In 1298, however, as the century came to a close, one of the leading banking families of Europe, the Bonsignoris, went bankrupt, and the city of Siena lost its status as the banking centre of Italy to Florence.
14th century (1300s)
Members of the Medici family rose to some prominence in the early 14th century in the wool trade, especially with France and Spain. Despite the presence of some Medici in the city's government institutions, they were still far less notable than other outstanding families such as the Albizzi or the Strozzi. One Salvestro de' Medici was speaker of the woolmakers' guild during the Ciompi revolt of 1378–1382, and one Antonio de' Medici was exiled from Florence in 1396. Involvement in another plot in 1400 caused all branches of the family to be banned from Florentine politics for twenty years, with the exception of two.In 1397, late in the 14th century, the Medici dynasty properly began with the founding of the Medici Bank in Florence.
Giovanni di Bicci de' Medici, son of Averardo de' Medici, increased the wealth of the family through the creation of the Medici Bank, and he became one of the richest men in the city of Florence. Although he never held any political office, he gained popular support for the family through his backing for the introduction of a proportional system of taxation. Giovanni's son Cosimo the Elder, Pater Patriae, took over in 1434 as gran maestro.
Rise to power
Until the late 14th century, the leading family of Florence was the House of Albizzi.The city's numerous luxurious palazzi were becoming surrounded by townhouses built by the prospering merchant class.
The main challengers to the Albizzi family were the Medici, first under Giovanni di Bicci de' Medici, later under his son Cosimo di Giovanni de' Medici and great-grandson, Lorenzo de' Medici. The Medici controlled the Medici Bank—then Europe's largest bank—and an array of other enterprises in Florence and elsewhere.
The Medici family was connected to most other elite families of the time through marriages of convenience, partnerships, or employment, so the family had a central position in the social network: several families had systematic access to the rest of the elite families only through the Medici, perhaps similar to banking relationships. Some examples of these families include the Bardi, Altoviti, Ridolfi, Zurla, Cavalcanti and the Tornabuoni. This has been suggested as a reason for the rise of the Medici family.
15th century (1400s)
In 1433, the Medici additionally benefited from the discovery of vast deposits of alum in Tolfa. Alum is essential as a mordant in the dyeing of certain cloths and was used extensively in Florence, where the main industry was textile manufacturing. Before the Medici, the Turks were the only exporters of alum, so Europe was forced to buy from them until the discovery in Tolfa. Pius II granted the Medici family a monopoly on the mining there, making them the primary producers of alum in Europe.In 1433, the Albizzi managed to have Cosimo exiled.
The next year, however, in 1434, a pro-Medici Signoria, led by Tommaso Soderini, Oddo Altoviti, and Lucca Pitti, was elected and Cosimo returned. The Medici became the city's leading family, a position they would hold for the next three centuries. Florence remained a republic until 1537, traditionally marking the end of the High Renaissance in Florence, but the instruments of republican government were firmly under the control of the Medici and their allies, save during intervals after 1494 and 1527. Cosimo and Lorenzo rarely held official posts but were the unquestioned leaders.
Three successive generations of the Medici—Cosimo, Piero, and Lorenzo—ruled over Florence through the greater part of the 15th century. They clearly dominated Florentine representative government without abolishing it altogether. These three members of the Medici family had great skills in the management of so "restive and independent a city" as Florence. When Lorenzo died in 1492, however, his son Piero proved quite incapable of responding successfully to challenges caused by the French invasion of Italy in 1492, and within two years, he and his supporters were forced into exile and replaced with a republican government.
Piero de' Medici, Cosimo's son, was in power for five years. He was called "Piero the Gouty" because of the gout that pained his foot and led to his death. Unlike his father, Piero had little interest in the arts. Due to his illness, he often stayed at home bedridden.
Lorenzo de' Medici, called "the Magnificent", was more capable of leading and ruling a city, but he neglected the family banking business, which led to its ultimate ruin. To ensure the continuance of his family's success, Lorenzo planned his children's future careers for them. He groomed the headstrong Piero II to follow as his successor in civil leadership; Giovanni was placed in the church at an early age; and his daughter Maddalena was provided with a sumptuous dowry to make a politically advantageous marriage to a son of Pope Innocent VIII that cemented the alliance between the Medici and the Roman branches of the Cybo and Altoviti families.
The Pazzi conspiracy of 1478 was an attempt to depose the Medici family by killing Lorenzo with his younger brother Giuliano during Easter services; the assassination attempt ended with the death of Giuliano and an injured Lorenzo. The conspiracy involved the Pazzi and Salviati families, both rival banking families seeking to end the influence of the Medici, as well as the priest presiding over the church services, the Archbishop of Pisa, and even Pope Sixtus IV to a degree. The conspirators approached Sixtus IV in the hopes of gaining his approval, as he and the Medici had a long rivalry themselves, but the pope gave no official sanction to the plan. Despite his refusal of official approval, the pope nonetheless allowed the plot to proceed without interfering, and, after the failed assassination of Lorenzo, also gave dispensation for crimes done in the service of the church. After this, Lorenzo adopted his brother's illegitimate son Giulio de' Medici, the future Pope Clement VII. Lorenzo's son Piero II took over as the head of Florence after Lorenzo's death. The Medici were expelled from Florence from 1494 to 1512 after Piero acceded to all of the demands of invader Charles VIII of France.
16th century
The exile of the Medici lasted until 1512, after which the "senior" branch of the family—those descended from Cosimo the Elder—were able to rule until the assassination of Alessandro de' Medici, first Duke of Florence, in 1537. This century-long rule was interrupted only on two occasions, when anti-Medici factions took control of Florence. Following the assassination of Duke Alessandro, power passed to the "junior" Medici branch—those descended from Lorenzo the Elder, the youngest son of Giovanni di Bicci, starting with his great-great-grandson Cosimo I "the Great".Cosimo the Elder and his father started the Medici foundations in banking and manufacturing—including a form of franchises. The family's influence grew with its patronage of wealth, art, and culture. Ultimately, it reached its zenith in the papacy and continued to flourish for centuries afterward as Dukes of Florence and Tuscany. At least half, probably more, of Florence's people were employed by the Medici and their foundational branches in business.