The Medicis: The Trillionaire Family That Owned Europe

The Medici Family had a fortune that would make them literal trillionaires in today’s terms...
And they almost single-handedly financed The Renaissance’s most impressive artists, created modern finance, and even arguably brought on the development of Protestant Christianity.
In today’s episode of Old Money Luxury, we’ll tell their full saga as part bankers, part religious revolution starters, part art aficionados.
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TIMESTAMPS:
0:00 Introduction
1:49 Chapter 1: Europe’s Most Powerful Family
8:38 Chapter 2: Giovanni The Patriarch
13:45 Chapter 3: Cosimo Comes In
18:44 Chapter 4: Lorenzo The Magnificent
24:35 Chapter 5: Owning The Papacy
29:55 Chapter 6: The Modern Medici
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The Medici family, a colossal figure in European history, epitomized an era of unprecedented financial might and cultural influence, leaving an indelible mark on the Renaissance and shaping the course of Western civilization.
In the heart of Renaissance Florence, the Medici family emerged as a financial and political juggernaut, wielding power and wealth that rivaled, and perhaps surpassed, any contemporary dynasty.
Their journey from modest merchants to rulers of Florence and patrons of the Renaissance is a tale of shrewd political maneuvering and unparalleled patronage of the arts.
The Medici Bank, established by Giovanni di Bicci de' Medici, was a cornerstone of their wealth, extending its reach across Europe and becoming an integral part of the papal treasury.
This strategic alliance with the Church was pivotal, intertwining their financial empire with ecclesiastical power.
The Medici influence extended beyond mere economics; they were also innovators in banking, introducing groundbreaking financial instruments like the letter of credit.
This not only revolutionized trade but also laid the groundwork for modern banking systems.
Their wealth, estimated to be in the trillions in today's terms, highlights their staggering economic impact.
Yet, the Medici legacy is equally defined by their patronage of art.
They transformed Florence into a beacon of the Renaissance, supporting luminaries like Michelangelo and Leonardo Da Vinci.
This patronage was not just an expression of wealth but a strategic tool for political and social dominance.
Tracing its roots to the time of Charlemagne, the Medici family's ascension began earnestly in the Tuscan village of Cafaggiolo.
Giovanni di Bicci de' Medici, the family patriarch, leveraged his wool merchant business and banking acumen to establish the Medici Bank.
His foresight in aligning with Pope Martin V, amid the papal return to Rome, positioned the family favorably within the realms of both secular and ecclesiastical power.
Giovanni's management of the Apostolic Chamber was crucial, integrating the Medici with the Catholic Church's economic and political network.
Cosimo de' Medici, Giovanni's son, played a crucial role in elevating the family's stature.
His patronage of the arts and investment in public projects transformed Florence into a Renaissance hub.
He oversaw the completion of Florence Cathedral's dome, a testament to his commitment to architectural innovation.
Cosimo's governance approach, though subtle, effectively consolidated Medici power in Florence's political landscape.
Lorenzo de' Medici, known as "The Magnificent," elevated the family's legacy to new heights.
A patron of the arts, he nurtured the talents of Michelangelo and Botticelli, among others.
Lorenzo's reign saw the Medici Bank reaching its zenith, with the introduction of the Gold Florin and control over the alum trade. However, his extravagant spending eventually led to the bank's decline.
The Medici's influence peaked with Giovanni de' Medici becoming Pope Leo X. His papacy, marked by cultural patronage, coincided with the Protestant Reformation.
Leo X's policies, particularly the sale of indulgences, were instrumental in sparking Martin Luther's protest.
His successor, Clement VII, faced tumultuous times, including the Sack of Rome and the English Reformation. Their reigns were characterized by a blend of cultural patronage and religious and political strife.
Today, the Medici name, embodied by figures like Prince Lorenzo De’ Medici, represents more than historical wealth and power. It stands for a legacy of innovation, cultural patronage, and community upliftment.

[@oldmoneyluxury]

COMMENT: Which legendary European dynasty would you like us to cover in-depth next?

[@valireklaam]

Habsburg

[@nicolettacinci3053]

The German Fugger family

[@timetravel099]

Carandini

[@charlynegezze8536]

The Fuggers

[@tfawan.0822]

😊😊oo​@@timetravel099

[@jec1ny]

The Medicis were breathtakingly wealthy, but no, they were not quadrillionaires. Inflation in pre-modern times is almost impossible to calculate because for the most part it didn't exist. The world used gold and silver for money. Not paper currency printed at will by governments and central banks. The only time we really saw widespread inflation was if a government debased its coinage because it needed more money than it could raise through taxes. Beyond which the basics of economics including the pricing of goods and services were so different from modern times that it's hard, if not impossible to find a modern equivalent. How do you figure out the modern wage for a candlemaker or a servant whose function was to beat your clothes with rocks in a tub to get the dirt out? It's better to just say that the Medici were the richest family in Europe, and one of the most powerful, for around 300 years.

[@Sparta1993]

Were? You do realize they still control much of Europe right ?

[@ecoideazventures6417]

Please forgive me for my ignorance, but isnt the lack of inflation actually enhance the value of old gold based money?

[@d3vi0uz1]

@@ecoideazventures6417 you are correct. A better way to look at Medicis' wealth in today's dollars would be Purchasing Power equivalence rather than simply applying 3% inflation every year for several centuries...

[@user-ng6sm5gx2c]

I'm no mathematical genius but the gold and purchasing power sounds legit.

[@andybosall]

But inflation did exist for Gold was “found “ more gold - less scarcity - inflation

[@666mengel]

Lorenzo the Magnificent of Florence was the one who discovered and promoted Michaelangelo great works.

[@mich6010]

The House of Borgia would be an interesting documentary or The House of Valois

[@ralphstern2845]

The letter of credit was also the foreshadowing of bank notes/paper money

[@111raimundas]

Thank you for the fascinating story about the Medici family.

[@oldmoneyluxury]

Our pleasure!

[@KINGCABA-if4nk]

Amazing info! This is one of my favourite self made family’s who’s established themselves from merchants and created the Foudnation of the banking system and capitalism. Even within four generation they marry to royalty, ennoble themselves and created the renaissance not just within Italy but throughout Europe. Thanks again!

[@oldmoneyluxury]

Thanks, glad you liked it!

[@KINGCABA-if4nk]

@@oldmoneyluxuryyea, also there a hidden banking British dynasty called the Hoare family. The first owned bank within the uk and older family than the Rothschild. Others could be Massimo family (oldest old money in Europe stretching to legacy status of having ancient Roman noble background) and the habsburg family.

[@darrenlesueur4785]

the creation of usary isn't capitalism it's debt slavery. that why it was illegal for 1000s of years .

[@theafricanredpill]

Lol self made is far from it,. They were using the knights Templar’s money when they went underground…

[@KINGCABA-if4nk]

Nonetheless they’re early pioneers of capitalism using tactics we use to this day within our modern global banking system. It’s not to hate on their success mention fake conspiracy or likes/old money content creator liked my post. It was a successful dynasty who were self-made background during late feudalism, from common origins. Read books and watch Medici tv show about it - to educate urself.

[@BARUCHIAN99]

Oh yes, I always wanted to know more about the Medici family, thank you!🎉 Viva Old Money Luxury🙌

[@oldmoneyluxury]

More to come!

[@JohnSmith-or4ed]

I am now richer in knowledge for learning about the Medici family in this documentary. Incredible the pioneering work they did on so many fronts.

[@Denise-kc8np]

Is this a Medici?

[@arellysritchieauthor]

the medici are still around! they just changed their name and went underground!

[@lemaitrethemonk]

They married into ALL the royal families.

[@manuellubian5709]

So what is their new family name if it's not de Medici anymore?

[@daemondost7168]

Do one on the Borgia Family!

[@paulheydarian1281]

Here's the short version on the Børgi@s: They were Spanish upstarts who were into incęst, r@pe, fīsting, feasting, and műrder. They also ❤ 💰 and power.

[@timothyrday1390]

I appreciate that you note the difficulty of calculating inflation over such long eras of time. It's helpful to remember that throughout most of human history, societies transacted based on fixed rates of exchange tied to gold or silver, so they wouldn't experience the "inexorable" modern monetary inflation we do today. Nevertheless, there were wars, bad harvests, and credit bubbles that exacerbated inflation at various times.

[@snarkyboots]

I would like to know more about the women of the Medici family and their influence.

[@marymayhew9179]

Awesome program!! Thanks for making this video!!

[@oldmoneyluxury]

Glad you liked it, Mary! Cheers!

[@nicolettacinci3053]

I live happily in bonnie Scotland,but born and bred in Tuscany. Thankyou for this episode 😊👋

[@oldmoneyluxury]

🇮🇹 Grazie!

[@nicolettacinci3053]

@@oldmoneyluxury Grazie 😏

[@user-du6xz3dc3y]

Find out how Scotland got its name?

[@CedricSmith-un6vm]

I love listening to this, this evening, thank you. God bless the Medicis family. This is really good.

[@rhmendelson]

Well done:) ❤ This was exceedingly well written and produced! The commentary offered distinctive encapsulations of the family’s contributions to the arts and Italy’s economic development.

[@douglassauvageau7262]

Those contributions extended far beyond Italy.

[@awiyaann2826]

i wouid like you to do the Borgias if possible please

[@bludgeonedtodeath90]

They are still around. Many of the noble families who were wealthy before the fall of fascism are still quite wealthy today. The Medici name lives in Italy. The real Medici family is divided into three branches and all of them are rich; One of them has lived in Naples since the Renaissance. The others are families residing in Florence. Members of these families are still wealthy today. They own huge mansions and are often involved in banking and finance. They have been a very important family for several centuries and have managed to retain much of their wealth over the following centuries, as have many other noble families who are still somewhat influential.

[@ranipcv915]

They are still here!

[@nigeljames9727]

Their name gave us words like MEDICINE,MEDIC and MEDICAL

[@StephiSensei26]

Amazing! 500 years of the Medicis in under 35 minutes! Bravo! Brilliantly done. Can you tell me please the name of the "film" or series with Dustin Hoffman and many other fine actors, which was used as documentary background? I'd like to add it to my collection. Florence is one of my most favorite cities and I shall be returning there soon again with new eyes, thanks to this brief yet highly factual lesson in Italian / European history. Thank you and Bravo!

[@oldmoneyluxury]

Thanks Stephi! Glad you enjoyed it. The Dustin Hoffman clips are from The Medici: Masters of Florence series en.wikipedia.org/wiki/Medici_(TV_series)?wprov=sfti1#Appearances

[@StephiSensei26]

@@oldmoneyluxury Great and thank you so much. I'll be back in Italy in a couple of months with new eyes as I imagine walking along side the Medicis. Maybe I can get some insider info?. Bravo! Can't wait for your next episode.😇

[@RobVerdone]

Their picture hangs framed over Tony and Carmela's bed on The Sopranos. 🇮🇹💪

[@marcobelli6856]

Yes but medicis make italy great mafiosi suck Italy resources they are not comparable

[@taybak8446]

Most illuminating and entertaining. Can you please cover the French Montesqieu and de la Rochefoucald families?

[@maggiemae7539]

Rochefoucald? Is this the original name of the Rockefeller name?

[@Travieso78702]

Thank you so much for this. The Medici family was a mixed blessing for my family. One side were French Huguenots who Catherine murdered. My other side were Sephardic Jews from Venice which Catherine was able to release from the ghetto.

[@rodvr_ptEng]

Thanks for the great video! You could do something about the Braganza dynasty. This family did not charge taxes in Portugal for more than two hundred years.

[@koolblue6927]

Fabulous information. Their contributions to the artworld are priceless.

[@pitoblogg]

To put things in perspective. Being a banker back then is like having GTA cheat codes in real life.

[@alexandartheserb7861]

In Serbia will still have surenames like Medić, Medojević&Co (med means honey, or medo means bear, end -ić/-ic is deminutive like little one, son of, and --ići/ici is for plural, whole family members). Same like opposite, in antient Rome 500 bce one of most important gens was Servilius/Serbian family. Also Etruscan name Rasseni is similar to Serbian other old name Rasi. But those old connections are today forgoten and hiden

[@shikshapandey8196]

Fresh breathe video , medici the magnificent is an amazing series..

[@wchamp170]

They are still in power

[@lacecreationz2434]

So powerful we don’t know any of their names.

[@AmaPeters-pj6pm]

I thank you very much for this

[@Michael-wr1yy]

Fascinating, thanks!

[@oldmoneyluxury]

Glad you enjoyed it!

[@byoobyoo1280]

I know there were plenty other important houses. But when I think of powerful European houses I always think first of the Medici and Habsburgs houses.

[@douglassauvageau7262]

A worthy digest of a monumental story.

[@There-ought-to-be-clowns]

Some things never change

[@florencematts]

Thank you so much for sharing this history of the madicis family's love this movie❤

[@oldmoneyluxury]

Glad you enjoyed it, Florence! Nice name!

[@chris.asi_romeo]

Great video. 👏💯

[@gonefishing167]

Really enjoyable, thank you. The art work they sponsored has lasted through the centuries as pure genius. The Medici or the Borgias would be good. Separating myth from reality. 🙏🙏👵🇦🇺

[@christopherthrawn1333]

Excellent work here break down of a unique family of Italy.

[@oldmoneyluxury]

Many thanks!

[@margheritatimeus3400]

You forgot women. There were two Medici playing the role of Queen of France in a very significant way...

[@ehud4]

Fascinating story. Not European, but could you cover the Sassoon family.

[@renner2635]

Very well done and informative! Could you do something about the Fuggers?

[@gantchogantchev9385]

House of Borgia perhaps

[@andronicemarinis1072]

The 5 red balls on the shield. 5 sons of Meyer rothschild.😅

[@conveybtw3629]

It’s a bloodline that keep changing names

[@bagelispoulos8275]

Merci beaucoup !!

[@stephanybrigette]

I’m from house of Medici

[@se7ensnakes]

If you and I have to work to get money and pay the bills, but some smart criminal comes along and creates money out of thin air, and standardizes it it won't be long before they will own and control everything and you will own nothing.

[@mcf-662]

This was an incredible journey into the Medici power and vision. Very well written and narrated. Thank you.❤️. Can you pls do the other major Italian dynasties like the Visconti and Sforza in Milan, the Este in Ferrara, the Gonzaga in Mantua?

[@philipambler3825]

My doctors daughter is an expert on the Medici, living in Tuscany. He got a shock when I explained that Medieval was a shortened form of Medicieval to advise him of the quite cruel reputation of this family, their methods of poisoning & murder, despite historians glossing over the reality of their influence.

[@sebd9690]

Medieval. Early 19th century: from modern Latin medium aevum ‘middle age.

[@rathertiredofthemess2841]

@@sebd9690thank you for correcting him.

[@rathertiredofthemess2841]

You are so wrong. Medieval is what the de Medici brought Italy out of.

[@fortunatomartino8549]

It's more important to know who the $trillionaires are now The red shield ?

[@kleinlau1954]

I would love to hear about the Rothschilds and other banking families of Europe

[@qhuizatlantis8484]

Pepe Orsini next

[@peter455sd]

I have a suspicion these people are still around calling the shots

[@mauimixer6040]

😊, they just don't need to use their names anymore ! Already glorified and history. But Who owns the Pope now?

[@ingridheller3462]

How about the House of Rakoczy? Or Habsburgs?

[@doreekaplan2589]

Hapsburg

[@timetravel099]

Pls do video on carandini family

[@irinaterpugova2075]

I would like to see the video about Savoy dynasty

[@lexxlars5762]

Orsini’s ?

[@mugenpower78]

They are still around just lurking in the shadows

[@xmaniac99]

Except there was no inflation until the abolition of the good standard …

[@howllingwilly]

Can you make a video on the Habsburg's?

[@stanlivengood9500]

I don’t know whether you have done any of these, but I'd be interested in the Borgias, Carolingians, Romanovs, Rothschilds, and Ptolomys.

[@andrearodigari4840]

Proudly Italians.

[@sambarbosa6453]

I’m not sure I’d claim this family in particular. Black Nobility.

[@cannibalisticvegan8461]

"Now I have you in my pocket, Signoria! For I have comissioned the finest artist to deptict me as the chad, and you as background soyjacks in my renaissance landscape!"

[@raguramramamoorthy8569]

What about Galileo ,they helped Create modern science and tech

[@user-eh3zv1ex5o]

Yes, it does show the incredible wealth of this family( even back in the 1400s) When one traces their lineage backward, we find the MacDermots, famous Irish nobles.(see Kings of Moylurg.....they were the Kings of Connacht back to 950AD...the name originally being Diarmad). These Kings themselves came from Spain...see Mil Espaine, Phoenician/Spanish founder of Ireland, and ancestor of all Irish kings afterward. == Another family line is Milo, Archbishop of Triers and Riems, in the 700s, a Merovingian and also a Phoenician, with a line going back through Rome,Italy. == So, these de' Medicis weren't just from the 1400s.... as we shall perceive. Certainly, they were Elite of elites, back then. == Now imagine the QUADRILLIONS owned by the banking families today..... Yes, imagine that earthly power in the hands of 400 to 410 families. They've come a LONG way since the days of their Master Financier, King Solomon. His wisdom is the secret handed down to them, through the Ages.

[@RamonRodriguez-hq7vn]

The Spaniards from the northwestern province of Galicia, has a 99.9% DNA compatability with the Irish of Ireland, of course. We're just Celtic cousins.

[@gmssamakyaahlahhopeful144]

So the Medici’s came from Ireland?

[@user-eh3zv1ex5o]

@@gmssamakyaahlahhopeful144Actually, before that, the Vikings.795 AD....when they first raided.

[@lukasgestrine]

Damn Luther and Medici!!!!

[@Denise-kc8np]

Condemn not lest you be condemned!!

[@kinantitb]

Next please house of Abney-Hastings, house of Amstrong-Jones (snowdon), and House of Beaufort

[@jacobwhitley126]

I want you to create a video on Jakob Fugger the rich

[@lpowers]

Not that Fugger!

[@chris.asi_romeo]

Medici, Rothschild and Rockefeller.

[@lacecreationz2434]

Medicis are probably more powerful than the other 2.

[@alexb2612]

They haven't gone anywhere, they will still be lurking in the background, black nobility families are still alive and kicking and calling the shots.

[@feliciaboston6365]

Delusion. They’re not even black

[@the_patriot7]

stop with the bullshit !!! you need evidence for that !!!

[@Peppersfirst]

Phoenicians

[@christopherellis2663]

All of those Italian families In the UK, from Lombard Street. Fugger family in Germany

[@christopherellis2663]

14:52 administered 18:03 all interest was usury

[@eghoghonedobor2321]

Borgia family...

[@cory96777]

From a direct descendant of the family, thank you! :)

[@saintdenis3238]

lets see the WWE beef between the Rothchild and the Medici and Black Rock as the referee

[@lukewarm6369]

House of Braganza Family

[@vieiradosreismariadelurdes9105]

Bragança.

[@stevennaraine9429]

Please cover the: Tudors, Windsor, Rothschild. Etc.

[@joannebarber4845]

The Borgias please

[@DiegoErnestoJimenezDelgado.]

"Martín Luther's skin" 😂😂😂😂😂🤣🤣🤣

[@michaelandrewcart1689]

I had No clue the Medicis paid for the Teenage Mutant Ninja Turtles! 😊" The more you know .."

[@monkeymoo87]

True geniuses these guys were sophisticated and modern accountants but they were from the 1400s lol

[@BiglerSakura]

6:11 - What is "36 million dollars in his time"? Considering he lived in 1360 - 1429. Some standard silver thaler coins?

[@mauimixer6040]

What about the Kings of Siam, aka Thailand ? Do you research anything East ?

[@marcocarlson1693]

Yes. True.

[@YooAKang]

An endless thanks. I would like to know the Barings family: how and its far reaching power over N and S America during industrial revolution. And any historian difined: History of Usury? So much to ask...

[@edwardelkins8723]

Medici are still around today, I met a Medici online she told me that her family didn’t have money anymore, she worked as employee of a charity.

[@Contessa6363]

Martin Luther was a Rapid Cycling Bi Polar

[@williamoverton7775]

we named the medical industry after them. it's where we get the word medicine.

[@mafingasichinga9572]

Very good documentary what about Machiavelli being opponent to there power who they captured, tortured and exiled him. I think it's during this period.

[@ivomedic5745]

I’m Medici left ,family member.

[@faustinae3927]

They were in the newspaper a year ago. Nothing good 😡🇺🇸👍

[@Ardoo19]

The same kind of things but with different families today. Instead of one family we have about 2000 who collectively own the world.

[@Button426]

So since they are the inventors of the banking systems that we use today have the same outcome as they do today? We never learn real history til we repeat it

[@Rawdistrict202]

Always wanted to know who invented credit

[@zacherytaylor5895]

Read the book: Debt the first 5000 years

[@brianstanziale3595]

The PISAR Family please..

[@karenmanderville154]

Payseur?

[@Contessa6363]

In other words nothing has changed!

[@taupenoire1933]

Guinness family

[@oldmoneyluxury]

Working on it for next week 😉

[@andytan1003]

If you are bankrupt, that means you aren’t rich enough

[@ralphstern2845]

Private wealth has funded public works since at least the ancient Greeks

[@HolyPire]

House Wettin

[@robertkreamer7522]

Yes we still are around I am of the Giugni family of Florence and we married into them centuries ago . Not sure what shots I call except in my billiards days . Lol

[@oldmoneyluxury]

😂 🇮🇹