Cosimo de' Medici

Cosimo de' Medici (1389-1464), Italian banker and statesman. Known as Cosimo the Elder, he succeeded his father, Giovanni, as director of the successful Medici commercial and banking interests and as leader of the popular faction in Florentine politics. Exiled by the ruling aristocratic party in 1433, he was recalled the following year and then assumed virtual control of the government; he secured his position by banishing some of his enemies and ruining others by excessive taxation. A shrewd politician, Cosimo avoided holding public office himself, governing instead through supporters and dependants. His financial acumen benefited both Florence and his family, and he was probably the wealthiest man in Italy.

Cosimo encouraged agriculture, the silk industry, and commerce and sought to maintain peace in Italy by a balance of power among the major states and by preventing foreign interference. He actively patronized artists, architects, and scholars and amassed a magnificent library. His public building programme set a standard imitated by his family, friends, and rivals.