Cosimo also organized a methodical search for ancient manuscripts, both within Christendom and even, with Sultan Mehmed II’s permission, in the East. Although his power was unofficial, deriving mostly from his immense wealth, he was highly influential as the founder of the powerful Medici dynasty. One of his lasting legacies was the Palazzo Medici, which included work by major artists of the era. His body was taken to Florence and huge crowds filled the streets as he was buried in the church of San Lorenzo, where his tomb can still be seen. Cosimo’s father, Giovanni, stepped back from the operations of the Medici Bank in 1420, leaving Cosimo and his brother Lorenzo to run it. Cosimo brought his banking business with him and gained the support of many along the way, garnering praise for accepting exile instead of continuing the tradition of bloody intra-city power struggles.
Cosimo was the elder son and successor of Giovanni di Bicci de’ Medici, who founded the Medici Bank in the 1390s, opened branches in Rome, Venice and Naples and went on to take charge of the Vatican’s finances. The bank expanded, branching out from Florence to reach all the other major Italian city-states, including Rome, Venice, and Geneva. He drew up plans for a princely palace for Cosimo; but the latter preferred the less lofty plans of Michelozzo, although Michelozzo’s Medici Palace (the modern Palazzo Medici-Riccardi) was only slightly less grandiose and provided the first break with the family’s traditional stance of humility. In 1410, Giovanni lent Baldassare Cossa the money to purchase the rank of cardinal. Previously, it was the rule to fill high official positions by drawing lots. Cosimo had already paid Michelozzo to rebuild the monastery of San Marco, where he had his own private cell and held deep theological discussions with the prior, the future St Antonio Pierozzi. Articles from Britannica Encyclopedias for elementary and high school students. The following year, the signoria conferred upon him the deserved title of Pater Patriae (Father of His Country). Our editors will review what you’ve submitted and determine whether to revise the article. By the 1430s, Cosimo de' Medici and his family were the most powerful in Florence, which posed a threat to other influential families such as the Strozzi and Albizzi. By the end of the 14th century the city-state of Florence had built up a profitable textile industry with a flourishing export trade and had become a major banking centre, lending money to businessmen, kings and lords, popes and senior clergy. The jailer was bribed to taste Cosimo’s food beforehand, and the gonfalonier, assuaged by the famous gold-bearing mules, arranged to have the usual death sentence reduced to banishment. Imprisoned in a tiny dungeon, Cosimo contrived to make sure that his food was not poisoned and quietly bribed enough members of the Signoria to reduce the sentence to banishment for five years. His brother Lorenzo came with him. After his death, the Signoria of Florence honored Cosimo with the title Pater Patriae, meaning “father of his country.” It was Cosimo who ensured that his grandson, Lorenzo, had a full humanistic education. Upon his return, he began working to quash the factional rivalries that had led to his banishment and that had plagued Florence for years.
In addition to architects, Cosimo gathered around him all the masters of an age abounding in geniuses: the sculptors Lorenzo Ghiberti and Donatello and the painters Andrea del Castagno, Fra Angelico, and Benozzo Gozzoli. He was 74 when he died at his country house at Careggi. Interestingly, the majority of this wealth came from the bank’s business in Rome; only about ten percent of it came directly from Florence. Be on the lookout for your Britannica newsletter to get trusted stories delivered right to your inbox. Ficino recorded that when Cosimo’s wife reproached him for spending so much time sitting in a chair with his eyes closed, doing nothing, he replied that when they moved to their country estates she took plenty of time over her preparations and he equally needed time to prepare for his journey to a country from which he would not return. He not only assured these artists of commissions but also treated them as friends at a time when people still looked upon them as manual workers. The process was now manipulated so that only the names of men who could be depended upon were drawn. Cosimo de’ Medici (April 10, 1389–August 1, 1464) was a banker and politician in early Renaissance-era Florence. Another factor was Cosimo’s exaltation of Florentine prestige through his encouragement of scholars and artists. From his boyhood he had been interested in ‘the new humanism’, the study of the literature, learning and philosophy of Ancient Greece and Rome. But, in order not to be taken by surprise like the Albizzi, he perfected the system. Cosimo de’ Medici is known for being the founder of one of the main lines of the Medici family that ruled Florence from 1434 to 1537. He had taken his bank with him and the effect on the economy of Florence was so severe that the banishment was cancelled and Cosimo returned to Florence in 1434. Cosimo de’ Medici was the son of Piccarda Bueri de’ Medici and Giovanni di Bicci de’ Medici. Get kids back-to-school ready with Expedition: Learn!
Although the term length was short, the role helped him consolidate his power, and he later held a political post again as an ambassador.
The Albizzi, one of the other leading families, attempted a coup.
He died in 1429, when Cosimo was 39. By signing up for this email, you are agreeing to news, offers, and information from Encyclopaedia Britannica. He had two brothers; Damiano, who died shortly after birth in 1389, and Lorenzo who was assassinated in 1440. He indirectly controlled Milan through the Sforza family, and although his interference wasn’t always popular, his political strategies were fundamental to keeping outside powers, such as France and the Holy Roman Empire, out of Italy.
Cosimo inherited this influence and wealth from his family, which gave him a head start when he took the reins.
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Brunelleschi completed the “marble hat” of his famous cupola at the time of Cosimo’s return in 1434; in addition, he almost completed the work on S. Lorenzo and on the Sagresta Vecchia and began work on the strange rotunda of Sta. One of the key figures of the Italian Renaissance died on August 1st, 1464. He was named the priore of the Republic of Florence, giving him even more power as one of nine Signoria who governed the city-state. Giovanni died in 1429, leaving his sons with immense wealth. Cosimo also commissioned work from the city’s architects and artists. By using ThoughtCo, you accept our, 5 Interesting Facts About the Medici Coat of Arms, Key Dates in Renaissance Philosophy, Politics, Religion, and Science, Biography of Catherine de Medici, Renaissance Queen, Florence: The Center of Early Italian Renaissance Art, Biography of Sandro Botticelli, Birth of Venus Painter, Biography of Leonardo da Vinci, Inventor and Artist of the Renaissance, Niccolò Machiavelli's Life, Philosophy, & Influence, Donatello - Master of Renaissance Sculpture, Industry and Agriculture History in Europe, M.F.A, Dramatic Writing, Arizona State University, B.A., English Literature, Arizona State University, B.A., Political Science, Arizona State University.