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Fugger

Anton Fugger
Enriching the foundations

Anton Fugger, portrait by Hans Maler von Schwaz

Jakob Fugger the Rich and his wife Sibylle Artzt were childless. In his will, Jakob named his nephew Anton Fugger as sole successor. In 1525, at 32 years old, Anton assumed leadership of the firm and managed it with prolific success until his death in 1560. Anton Fugger reorganised both the firm and the foundations ...

Jakob Fugger the Rich and his wife Sibylle Artzt were childless. In his will, Jakob named his nephew Anton Fugger as sole ...

1st foundation statement of accounts from ...

Account for St. Anna Chapel and the Fuggerei

List of tasks

Copperplate engraving from 1618

His motto: "Stillschweigen stehet wohl an" ...

Jakob Fugger the Rich and his wife Sibylle Artzt were childless. In his will, Jakob named his nephew Anton Fugger as sole successor. In 1525, at 32 years old, Anton assumed leadership of the firm and managed it with prolific success until his death in 1560. Anton Fugger reorganised both the firm and the foundations.

Expansion of the foundations under Anton Fugger

Under Anton Fugger, surpluses from trade continued to be invested in the foundations. Bequests and external donations also increased the endowments for the foundations. Anton Fugger expanded the Fuggerei and financially improved existing facilities such as the Holz- und Blatternhaus Foundation (wood and smallpox house). In addition, he established multiple new foundations in 1548: the Schneidhaus near the Fuggerei and an infirmary for 50 prebendaries in Waltenhausen, near Babenhausen. Also in 1548, Anton oversaw the reorganisation of all foundations and the appointment of "administrators" as the highest level of leadership. Over the course of time, this resulted in the current Fugger Seniorat, in which the heads of the lineages are represented. 

Reorganisation of the firm

The focus of the firm's business activities shifted during Anton Fugger's time. Due to the disappearing security of large-value credit and the decreasing profits from the mines, Anton Fugger invested more and more in land in order to safeguard the firm's assets. Particularly in Swabia, Anton Fugger acquired large estates, for instance Babenhausen, Glött and Kirchheim, as future sources of the family's livelihood. The stipulation in his will that mercantile activities be dissolved six years after his death was, however, not enacted. The Fugger mercantile firm did not actually cease its activities until almost a century later.



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Newsdatum:26.02.2014,
09.08 Uhr
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