Medici, Lorenzo de’, << MEHD ih chee, law REHN tsaw day >> (1449-1492), ruled Florence, Italy, from 1469 until his death. He was a leading statesman of the Renaissance, a period of great cultural achievement in Europe. Lorenzo also wrote poetry and helped and encouraged other artists. During his rule, Florence achieved great splendor as a center for the arts.
Lorenzo was born on Jan. 1, 1449, in Florence. Like his father, Piero de’ Medici, and his grandfather Cosimo de’ Medici, he ruled Florence without holding an official title. In 1479, the pope and the city of Naples began a war against Florence. Later that year, Lorenzo arranged a treaty that stopped the war. After that, he pursued a policy of peace in Italy. At home, Lorenzo did not tolerate opposition. In 1472, he brutally put down a minor revolt in Volterra, a town ruled by Florence.
Lorenzo was well educated and an excellent poet. He surrounded himself with scholars and artists. For these reasons, he is sometimes called “the Magnificent.” But he neglected the bank that had earned his family’s fortune. Soon after his death on April 9, 1492, the bank ran out of money and closed.
