Giovanni di Bicci de' Medici
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Giovanni di Bicci de' Medici (1360 (Florence) – February 20 or February 28, 1429) was the founder of the famous and powerful Medici dynasty of Florence and the Medici bank; father of Cosimo de' Medici (Pater Patriae), and great-grandfather of Lorenzo de Medici (the Magnificent). He was the son of Averardo de' Medici, little is known about him. He had not been born rich: the little money left by his own father had to be divided between a widow and five sons.
Giovanni was somewhat uninterested in politics, unless the issues pertained to him or his bank. Often when his name was put forward to participate in the Florentine government (reggimento), he chose to pay the fine rather than serve, although he did serve one term as Gonfaloniere.
Giovanni was the head of an early "multi-national" company, as the family bank, his main commercial interest, had branches throughout the northern Italian city-states and beyond. In 1410, Giovanni bet on the return of the papacy to Rome, and was correct. Rewarding Giovanni for his support, subsequent popes made use of the de' Medici banks. Giovanni was also rewarded with tax-farming contracts and the rights to many alum mines. He set his family on the path to becoming one of the richest dynasties in Europe, thereby making an essential stride towards its later cultural and political eminence.
