The Richest Man Who Ever Lived

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The life of Jacob Fugger, the wealthiest man in history, reveals a transformative figure in Renaissance banking who championed the pursuit of wealth for its own sake. Born in Germany at the turn of the sixteenth century as the grandson of a peasant, Fugger amassed a fortune equivalent to nearly two percent of European GDP—surpassing even John D. Rockefeller. His rise to wealth stemmed not only from his ability to identify opportunities and negotiate effectively but also from his remarkable nerve. In a time when kings wielded immense power, Fugger boldly demanded repayment of loans from heads of state, complete with interest. His ambition and self-assurance not only made him the richest man ever but also a significant historical force. Fugger challenged church laws prohibiting interest on loans, persuading the Pope to change them, and played a pivotal role in triggering the Reformation. He likely funded Magellan's circumnavigation and established a news service that provided him with a competitive edge in business. Additionally, he elevated the Habsburg family from lesser sovereigns to rulers of a vast empire. This untold story encompasses palace intrigue, battles, family struggles, and the conflict between the elite and the masses, offering crucial insights into our financial system's evolution through the lens of Fugger's life.