33 Cosimo Medici Facts You Should Know About The Iconic Italian Banker

Born on September 27th, 1389, Cosimo de Medici was the son of Giovanni de Medici, responsible for the family’s substantial wealth reserves because of baking and trading.

After his father’s death in the year 1429, the financial and commercial practices of the family were continued by Cosimo, and he achieved great success in it. He used to buy cheap products from the East and lent some money to the houses of Europe.

Cosimo inherited a lot of money from the Medici dynasty. The Medici clan served as the grand dukes of Tuscany, and Cosimo de Medici was the grand duke of Tuscany when he was a teenager.

Cosimo also followed the policy of helping the weaker guilds and the needy against the affluent nobility that governed the city, passed down via his family. These oligarchs were envious of Cosimo’s popularity and wary of his democratic inclinations.

As a result, they set out to kill him and his family. They had Cosimo imprisoned in 1433 to put him to death, pushed on by Rinaldo Degli Albizzi, who was the most powerful of their group.

Instead, he was deported when he was able to buy the favor of Bernardo Guadagni, the gonfalonier of justice, for 1,000 ducats (about $25,000) from his prison.

Facts About Cosimo Medici

The father of Cosimo was a moneylender and was the primary reason why he ended up with so much money. The family’s bank had many-branched in Geneva, Rome, and Venice.

• Because of his continuous efforts, the Medici Bank expanded and opened many offices in western Europe.
• His family had excellent relations with John XXIII, which rewarded the family an immense power in the country.
• Because of his money, Cosimo de Medici’s political prominence and power in Florence grew.
• Despite claiming that he had no political ambitions, he convinced voters with his riches, most especially the Signoria of Florence.
• After being imprisoned for failing to capture the Republic of Lucca, Cosimo went into exile in 1433, taking his bank with him and settling in Venice. When his banishment had to be removed after a year, he returned.
• His return resulted in numerous modifications to the constitution, restoring his power.
• He used foreign diplomacy to bring peace to Northern Italy, to achieve a power balance between Milan, Naples, Florence, and Venice.
• Giovanni de' Medici and Piero the Gouty , Cosimo de' Medici's sons, were born to him and Contessina de' Bardi. Carlo, his son, born out of wedlock, became a prelate.

Cosimo Medici's Timeline

Cosimo Medici lived a fascinating life from his birth in 1389 to his death in 1464. His love of literature, poetry, and art played a decisive part in his broad-minded influence on the people of Florence. Here is the timeline of Cosimo De Medici’s interesting life

• 1389 (September 27th): Cosimo de Medici was born to Piccarda in Florence and Giovanni de Medici’s husband. He was a twin, but his brother Damiano died shortly after being born.
• 1395: Cosimo’s little brother named Lorenzo was born.
• 1397: Cosimo de Medici’s father founded the Medici bank, which later became the reason for Medici’s money and Cosimo’s power.
• 1415: Cosimo de Medici got married to Contessina de Bardi, who was the daughter of a nobleman Alessandro di Sozzo Bardi.
• 1415: Cosimo de Medici was chosen as the member of Signoria of Florence, which was the foundation of Cosimo’s strength, Medici fortune, and political dominance in the future.
• 1416: His son, Piero, was born in Florence.
• 1421: Another son, named Giovanni, was born to Cosimo.
• 1429: Cosimo’s father died, and Cosimo then became the head of the family and bank, which was the beginning of his ultimate power. Cosimo continued his family traditions.
• 1433: Cosimo had a long list of rivals. Two of his family rivals, Palla Strozzi and Albizzi’s family, framed him for a serious crime, and he was later imprisoned. After bribing the authorities, his sentence was turned into exile, and hence he and his family left Florence. A year later, Cosimo returned.
• 1444: Cosimo provided the public of Florence with a public library to which the people of Florence had free access.
• 1445: Cosimo de Medici also founded the Neoplatonic Florentic Academy to reintroduce Plato’s teachings to western Europe by Greek scholars.
• 1464: Cosimo de Medici died at Caregg, his country house, at the age of 74, and his body was buried at the Church of San Lorenzo. He was succeeded by his son Piero as the head of the Medici family. Cosimo’s death led to the decline of the bank. The words Pater Patriae was carved on his tombstone. Pater Patriae means ‘father of his country.’

Cosimo Medici’s Contribution Toward Society

During the 15th century, the Cosimo de Medici was at its highest in terms of wealth and power, and he used it to dominate Florence.

• He and his family helped other wealthy and noble families secure the government’s high-ranked government offices.
• Medici became the primary person to have the governance in his hands and use his wealth, and he used to smooth out any situation arising in the City of Florence.
• This era of peace was unprecedented in the city’s history, which is famed for its political turmoil.
• The de Medici family stayed loyal to the city, which allowed trade and the arts to flourish.
• Florence became a cultural center thanks to the de Medici’s stability.
• The writers and artists of the city took complete advantage of the peaceful situation of the city to enhance their skills and develop new forms of art and culture.
• The artists needed to be worried about any clerical interference, and they started to develop secular activities.
• Lorenzo Medici and Medici women were quite tolerant before all these things. He was a poet and very broad-minded, which led to the development of a plethora of new ideas that helped promote art in Florence.
• Apart from this, the city saw growth in humanism under Cosimo de Medici as he was taught by famous humanism.
• Under the Medici administration, many humanists could secure suitable employment in Italy, which added more value to the city’s cultural life.
• Many houses in Florence still have Medici coats hanging in the honor.

Cosimo Medici’s Role In The Renaissance Era

During their reign in Florence in the 15th century, the de Medici influenced the Renaissance and made it possible for humanists, great artists, and writers to create works that have influenced people for centuries. Florence gained stability and calm as a result of the family’s efforts. This was essential to the city’s cultural blossoming in the fifteenth century.

• The de Medici’s relatively peaceful reign contributed much to the city’s Renaissance.
• They also contributed significantly to the peace in North Italy through their interactions with other city-states.
• The de Medici family was pivotal in fostering a rising interest in Greek history and culture.
• Cosimo de Medici and his actions accidentally boosted the study of Greek writings. This was intended to shift the Renaissance in interesting directions, particularly under the inspiration of Neoplatonism.
• Throughout the Florentine Renaissance, the Medici family ruled over Florence.
• Through their encouragement of humanism and arts in Italy, they had a significant impact on the development of the Italian Renaissance.
• The Medici Family were wool merchants and financiers. The family grew enormously affluent as a result of both firms’ success.
• Cosimo de’ Medici used his immense riches to exert control over Florentine politics and fund poets, orators, philosophers, and a number of other notables.
• Cosimo is regarded as the genius of the Italian Renaissance. He was able to bring a creative revolution to Florence thanks to his considerable sponsorship.
• The Medici family’s influence caused the public of Florence to reclaim its classical heritage.
• The Medici’s would use this momentum of a fortune to finance their political influence in Florence and support the finest artists and initiatives of the Renaissance period, thanks to Cosimo’s rigorous and advanced financial processes, which led to the significant generation of their money.