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Lorenzo's grandfather, Cosimo de' Medici, was the first member of the Medici family to lead the Republic of Florence and run the Medici Bank simultaneously. As one of the wealthiest men in Europe, the elder Cosimo spent a very large portion of his fortune on government and philanthropy, for example as a patron of the arts and financier of public works. [7]
The House of Medici (English: / ˈ m ɛ d ɪ tʃ i / MED-itch-ee, UK also / m ə ˈ d iː tʃ i / mə-DEE-chee; [4] Italian: [ˈmɛːditʃi]) was an Italian banking family and political dynasty that first consolidated power in the Republic of Florence under Cosimo de' Medici and his grandson Lorenzo "the Magnificent" during the first half of the 15th century.
Lorenzo the Elder (12 October 1394 [1] – 23 September 1440) was an Italian banker of the House of Medici of Florence, the younger brother of Cosimo de' Medici the Elder and progenitor of the so-called "Popolani" ("populist, i.e. for the people") line of the family, named for a later generation whose members were supporters of the Florentine political activist Girolamo Savonarola.
Lorenzo was born in Florence, the son of Pierfrancesco de' Medici (the Elder) and Laudomia Acciaioli.Relations between the senior Medici branch and the younger "Popolani" branch had been tense since the 1440s, and Pierfrancesco had tried to shield his sons from the influence of the senior branch. [1]
If the Medici family and its bank had not been politically overthrown in 1494, it would probably have failed shortly thereafter in a long-delayed bankruptcy. Another factor in the decline of the Medici bank were the spending habits of the Medici. According to Lorenzo, between 1434 and 1471, the family spent an average of 17,467 gold florins a year.
Piero di Lorenzo de' Medici was the eldest son of Lorenzo de' Medici (Lorenzo the Magnificent) and Clarice Orsini.He was raised alongside his younger brother Giovanni, who would go on to become Pope Leo X, and his cousin Giulio, who would later become Pope Clement VII.
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Medici (1488–1495) Ginevra de' Medici m. Giovanni degli Albizzi: Ippolito de' Medici (1511–1535) Cardinal) Pierfrancesco de' Medici (the Younger) (1487–1525) m. Maria Soderini: Laudomia de' Medici m. Francesco Salviati: Vincenzo de' Medici: Lorenzo de' Medici: Giovanni Salviati (1490–1553) Cardinal: Lorenzo Salviati (1492–1539 ...
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