• Describe The Structure Of The Medici Family

Within about 40 years the Medici Bank was able to procure so much wealth and profit that it was economically equal with the Florentine treasury. Risks were taken to obtain as much profit as possible. Loans were given out to princes, kings, and even the hard working merchant. Everything was done for the money. The Medici Bank and family were the icons of Florence and the model standard when it came to wealth and power, they became the silent rulers of their hometown after the realization that money does lead to power. The Medici became stronger as their bank grew all over Europe. They started to make their way into Rome and the Papacy where several Medici became cardinals and Popes. Cosimo de Medici was responsible for the start of the Humanism movement and the commission of several magnificent art pieces, all due to the Medici Bank and the immense wealth and power that they were able to gain from its success. The bank was run uniquely from all its other European counterparts. The Medici continued where others failed and with persistence and planning they became the face of medieval banking. Through the organization, structuring, and manipulation of money and power, the Medici Family …show more content…
Giovanni was born to a middle-class family and was one of five children to a widowed mother. Although his situation was considered unfortunate, he managed to get a job working for his uncle who was one of the more prominent bankers in Florence. After a few months of training, Giovanni was made manager of his uncle’s bank in Rome where things were going well for the new banker. After his nephew partner died, Giovanni separated his bank from his uncle’s and moved it to Florence where he independently ran it. The Medici Bank was born and soon enough Giovanni was able to increase his profits and open new branches throughout Italy. After his retirement the bank was passed onto Cosimo, who ruled it exceptionally until his