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Giovanni di Bicci de' Medici was an Italian banker, the first historically relevant member of Medici family of Florence, and the founder of the Medici bank. He was the father of Cosimo de' Medici (Pater Patriae), and great-grandfather of Lorenzo de Medici (the Magnificent).

Giovanni was the head of an early "multi-national" company, as the family bank, his main commercial interest, had branches throughout the northern Italian city-states and beyond. In 1410, Giovanni bet on the return of the papacy to Rome, and was correct. Rewarding Giovanni for his support, subsequent popes made use of the de' Medici banks. Giovanni was also rewarded with tax-farming contracts and the rights to many alum mines. He set his family on the path to becoming one of the richest dynasties in Europe, thereby making an essential stride towards its later cultural and political eminence.

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Giovanni di Bicci de' Medici was an Italian banker, the first historically relevant member of Medici family of Florence, and the founder of the Medici bank. He was the father of Cosimo de' Medici (Pater Patriae), and great-grandfather of Lorenzo de Medici (the Magnificent).

Giovanni was the head of an early "multi-national" company, as the family bank, his main commercial interest, had branches throughout the northern Italian city-states and beyond. In 1410, Giovanni bet on the return of the papacy to Rome, and was correct. Rewarding Giovanni for his support, subsequent popes made use of the de' Medici banks. Giovanni was also rewarded with tax-farming contracts and the rights to many alum mines. He set his family on the path to becoming one of the richest dynasties in Europe, thereby making an essential stride towards its later cultural and political eminence. More...

 
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