Fugger

The Fugger family (German pronunciation: [ˈfʊɡɐ]) is a German family that was a historically prominent group of European bankers, members of the fifteenth and sixteenth-century mercantile patriciate of Augsburg, international mercantile bankers, and venture capitalists. Alongside the Welser family, the family controlled much of the European economy in the sixteenth century and accumulated enormous wealth. This banking family replaced the de' Medici family, who influenced all of Europe during the Renaissance. The Fuggers took over many of the Medicis' assets and their political power and influence.

History

Founding

The founder of the family was Johann Fugger, a weaver at Graben, near the Swabian Free City of Augsburg. His son, also called Johann (or Hans), settled in Augsburg, and the first reference to the Fugger family there is his arrival, recorded in the tax register of 1367. He married Klara Widolf and became an Augsburg citizen. After Klara's death, he married Elizabeth Gfattermann. He joined the weaver's guild, and by 1396 he was ranked high in the list of taxpayers. He added the business of a merchant to that of a weaver.

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