First off, forget what you know about wealth: • Bezos? $114B • Musk? $180B • Arnault? $190B Jakob Fugger's fortune in today's money? $400 BILLION. But that's just the beginning of this incredible story...

Born in 1459 to a family of textile merchants, young Jakob had a simple dream: Becoming the most powerful banker in history. By age 30, he achieved it. But the way he did it wasn't the traditional route...

While other merchants fought over silk and spices, Fugger saw something bigger: Kings needed money. LOTS of it. And unlike modern governments, medieval kings couldn't just print cash. They needed a banker...

Fugger's genius? He didn't just loan money - he revolutionized banking itself: • Created double-entry bookkeeping • Invented newsletters for market intel • Built Europe's first news network • Developed modern credit systems But his real superpower?

He turned kings into his debtors. Think about that: The most powerful men in Europe - kings, emperors, popes - all owed money to a merchant's son. His biggest client? The Habsburg Empire.

When young Charles V needed cash to buy his position as Holy Roman Emperor, Fugger wrote the check: 850,000 florins (≈ $300M today) The price? 100% control over Habsburg mining operations.

This man didn't just get rich - he changed history: • Funded the Renaissance • Bankrolled kings and popes • Financed wars • Built entire cities • Created social housing (that still exists!) Even the mighty Medici family of Florence couldn't compete.

While they played local politics, Fugger was financing empires all over the continent. His power was so vast that when kings couldn't pay, he'd take: • Mining rights • Tax revenue • Entire territories Modern billionaires buy mansions. Fugger literally collected kingdoms.

The craziest part? He worked until his death at 66, living modestly despite his wealth. His famous quote: "I want to make as much money as I can." Tbh I admire his direct, ruthless ambition.

In today's world of instant social media and memecoin millionaires, Fugger's story teaches us something profound: True wealth isn't about quick gains. It's about building systems that make you indispensable. Even in death, his legacy lives on:

Even in death, his legacy lives on: In Augsburg, Germany, his revolutionary social housing project - the Fuggerei - still operates today, 500 years later. But this wasn't ordinary charity. Fugger had a vision:

• 140 apartments with private gardens • Complete self-sustaining community • Modern amenities added over time • Still houses 150 people today The rent? Just 88 cents per year + 3 daily prayers for his family's souls. That was the deal in 1516. That's still the deal today.

Through: • The Thirty Years' War • Two World Wars • Germany's hyperinflation • The Euro transition The price never changed. Why so cheap? Because Fugger set up a trust fund so massive it's still paying for everything 500 years later. Lol

The ultimate flex: building something that outlasts kingdoms. Remember: • Gates disrupted tech • Musk disrupted space • Bezos disrupted retail But Fugger? He disrupted power ITSELF by gaining leverage over Europe's monarchs. Now that's wealth.

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@itsolelehmann Very interesting! Just a small correction: Double-entry bookkeeping was formalized by Luca Pacioli in 1494, who documented and standardized the method used by Italian merchants. Jacob Fugger adopted and applied it effectively in managing his vast financial empire,

@itsolelehmann That's not Jakob Fugger (1459 – 1525), but Johann Jakob Fugger (1516 - 1575). https://en.wikipedia.org/wiki/...

@itsolelehmann Bro was so rich yet he didn't have AC for the summer, no car to get around places, no phone or internet to connect with people, never watched a movie, never traveled out of west Europe or tasted cuisine from various countries...

@itsolelehmann Good thread but fugger learned the craft from the Italians who had been doing all this for centuries, including making bank by lending huge sums to kings and then going bankrupt. The fuggers got wrecked by Spanish king in late 16th c. Florentine bankers got wrecked by English

@itsolelehmann Your thread is gaining traction! #TopUnroll https://threadreaderapp.com/th... 🙏🏼@MamaImp for 🥇unroll

@itsolelehmann Mansa Musa was another figure for richest person in history without needing modern banking.

@itsolelehmann Yes, his last name was originally “fucker”.

@itsolelehmann @threadreaderapp unroll

@itsolelehmann i read this book!

@itsolelehmann Jacob wasn’t Fugging around

@itsolelehmann A real rich motherfugger

@itsolelehmann that mother fugger made bank

@itsolelehmann nice frock

@itsolelehmann Middle Eastern Royal Oil sellers Rockefellers who own the current western banks Authoritarian country leaders I’m pretty sure the current richest aren’t on the list

@itsolelehmann What a wealthy Motherfugger!

@itsolelehmann Elon´s fortune is estimated around $400 billion and growing rapidly. He´s gonna be first trillionaire in history. https://www.marketwatch.com/ar...

@itsolelehmann Good thread. But bad graphic of kingdoms. There was no 'kingdom of Ukraine in the 15th century. Kieran Rus was conquered by the Mongols in the 13th century and it was a principality. Then the Ruthetanians, or Lithuanians controlled it in the 14th century and was assimilated by

@itsolelehmann actually look up Mansa Musa. He had higher buying power at the time, which is how I'd define wealth.

@itsolelehmann He sure has a (((nose))) for the job

@itsolelehmann I feel like Michael Saylor is about to do something similar, but without the direct innovation. Bitcoin already revolutionized banking, but the drama is playing out, currently, in real time. Saylor’s contribution is innovating the method of acquiring a hard resource (BTC) by

@itsolelehmann I asked grok : "Jakob Fugger, commonly known as "Jakob Fugger the Rich," is considered by many historians and economists to be one of the richest men in history, especially in the context of early 16th century Europe. At his death in 1525, his fortune was estimated at about 2