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Jacob Fugger

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4

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2022-06-08

most recent

2022-06-08

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1

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1. “And then the book ends with a cautionary tale. Jacob died very rich and very lone. When the end came, Jacob's nephews and wife were elsewhere. Jacob died at four AM on december thirtieth, fifteen twenty five, at the age of sixty six. The only people with him were a nurse and a priest. The exact cause of death is unknown. And then I'll close with the craziest sentence in the entire book. The Fuger family seventeen generations after Jacob lived, still enjoy income on land Jacob acquired centuries earlier.”

   2022-06-08 · Founders · #250 Jacob Fugger (The Richest Man Who Ever Lived) · IDENTIFIED FROM THE TRANSCRIPT · source

2. “He knows he's dying, so he rewrites his will, and the most important thing he says listen there's two issues that I have to discuss with you, and the first one was hungry, and so he's telling Anton, which was his nephew, and the person, he's like, okay, this guy's the guy that's going to be running my businesses, or at least the main person. And he's telling me, he's like, listen, under no circumstances, Jacob urged Anton. Should he accept anything but full restitution? He says, and then Jacob's trying to predict what's going to happen. He says, listen, Louis will eventually be desperate, he told him. You just have to be patient. And then something he also wanted to discuss and pass on to his nephew was the fact that there needs to be a single decision maker. Jacob believed that businesses could more easily function with fewer, not more decision makers.”

   2022-06-08 · Founders · #250 Jacob Fugger (The Richest Man Who Ever Lived) · IDENTIFIED FROM THE TRANSCRIPT · source

3. “Castle made him sign an agreement, handing over the Hungarian mines, which is the crown jewel of Jacob's Empire. Jacob had spent a lifetime creating his Hungarian business more than anything he ever did. It embodied his organizational, financial, and political genius. It created his fortune, and at the port point of death, Albert gave it away.”

   2022-06-08 · Founders · #250 Jacob Fugger (The Richest Man Who Ever Lived) · IDENTIFIED FROM THE TRANSCRIPT · source

4. “A full day's work, but the rebellious peasants failed to qualify. To him they were lazy parasites looking for handouts. They want to be rich without working, Jacob wrote in a letter. Jacob was more than an observer in the war. He was a catalyst. To peasant leaders, he was an oppressor. Many would have been happy to kill him. Forced to take a side to preserve order, Jacob became an agent in their annihilation, so he is going to raise money to hire mercenaries to hire soldiers, to fight this, they call it the peasants' war. Really the way to think about it is like the first physical war between capitalists and communists in history.”

   2022-06-08 · Founders · #250 Jacob Fugger (The Richest Man Who Ever Lived) · IDENTIFIED FROM THE TRANSCRIPT · source