To 16th Century men, Jacob Fugger of Augsburg was living proof that every height could be scaled by an ambitious commoner with a head for business. Fugger, the grandson of a weaver, and the son of a successful merchant, parlayed his inheritance into a financial empire that included banks, mines, factories and farm lands. Earning an average annual profit of 54 per cent for 16 years, he became the richest man in Europe; he crowned his
Success by acquiring a castle and the title of count.
Held in awe by the pope and Luther alike, Fugger was so sure of his power that in 1523 he dared to write a dunning letter to his perennial debtor, Charles V of the Holy Roman Empire. Reminding Charles that “Your Majesty could not have secured the Roman Crown without me," Fugger bluntly— and successfully—advised the Emperor to make payment on a loan, “without any further delay."
World History
