Exploring cultures and communities – the slow way

Jakob Fugger the Rich was indeed very rich. But his approach to business presciently anticipated many practices which are now commonplace. We look at the life of a man who challenged business cartels and had a canny appreciation of the importance of market intelligence.

article summary —

Even in his lifetime Jakob Fugger, who founded the Fuggerei settlement in Augsburg, acquired the suffix ‘der Reiche’ to his name. That appendage means ‘the Rich’. So what was the source of the wealth of Jakob Fugger the Rich?

When Jakob took over the family business in 1487, the Fuggers were certainly well established as part of the financial and social elite of Augsburg. They were notably wealthy, but no more so than hundreds of other mercantile families around Europe. Within 25 years, though, Jakob Fugger had become by far the richest individual in Europe, accumulating a level of personal wealth which has probably never since been matched by anyone in the world.

Fugger was a bold investor, a man who was willing to take risks, and by and large his investments paid off.

This is just an excerpt. The full text of this article is not yet available to members with online access to hidden europe. Of course you can also read the full article in the print edition of hidden europe 61.

About the authors

hidden europe

and manage hidden europe, a Berlin-based editorial bureau that supplies text and images to media across Europe. Together they edit hidden europe magazine. Nicky and Susanne are dedicated slow travellers. They delight in discovering the exotic in the everyday.

This article was published in hidden europe 61.