Jakob Fugger Biography
Birthday: March 6, 1459 (Pisces)
Born In: Augsburg, Germany
Jakob Fugger, also known as Jakob Fugger the Rich, was a famous German mining entrepreneur, merchant, and banker who lived in the 15th century during the ‘Renaissance.’ He belonged to a merchant family from the ‘Free Imperial City of Augsburg’ and was elevated to the status of ‘Grand Burgher of Augsburg’ through marriage. His family business expanded and spread across the whole of Europe. He started with textile trade and grew rapidly to diversify into mining and banking. He gained monopoly over the copper industry in Europe and was a partner to the first and the only German trade expedition to India. Fugger influenced European politics through his hold on banking and was instrumental in making the Spanish king Charles V Holy Roman Emperor. He established ‘Fuggerei,’ which is the oldest social housing complex still in use. IN 1967, his bust was installed in the ‘Walhalla,’ near Regensburg, to honor his achievements and contribution.