Jakob Fugger of the Lily, also known as Jakob Fugger the Rich or sometimes Jakob II, was a major German merchant, mining entrepreneur and banker. He was a descendant of the Fugger merchant family located in the Free Imperial City of Augsburg, where he was born and later also elevated through marriage to Grand Burgher of Augsburg. Within a few decades he expanded the family firm to a business operating in all of Europe. He began his education at the age of 14 in Venice, which also remained his main residence until 1487. At the same time he was a cleric and held several prebendaries, even though he never lived in a monastery. Fugger is held to be one of the wealthiest individuals in modern history, alongside the early 20th century industralists John D. Rockefeller and Andrew Carnegie.
The foundation of the family's wealth was created mainly by the textile trade with Italy. The company grew rapidly after the brothers Ulrich, Georg and Jakob began banking transactions with the House of Habsburg as well as the Roman Curia, and at the same time began mining operations in Tyrol, and from 1493 on the extraction of silver and copper in the kingdoms of Bohemia and Hungary.