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Born in 1459 in Augsburg, Germany, Fugger faced early hardships following the death of his father when he was just ten years old. His mother sent him to Venice to apprentice in business, an experience that immersed him in the burgeoning world of commerce. Upon returning to Augsburg, Fugger witnessed the desperation of Habsburg Emperor Frederick III, who needed financial aid urgently. This moment signaled to Fugger that kings, too, were reliant on wealth, a realization that would shape his fortune.