Lorenzo de' Medici (1449-1492), italian statesman. Lorenzo was born into the powerful Medici family, combining running the Medici bank with being the de facto rulers of the Republic of Florence. Lorenzo was groomed to rule from an early age. However, his banking skills were somewhat less acute than his political skills, and under Lorenzo's control the bank's assets contracted dramatically. However, Lorenzo was a supporter of artists and writers during the height of the Italian Renaissance. His court included artists such as da Vinci, Botticelli and Michaelangelo. Lorenzo supported the development of humanism and expanded the Medici library with classical works which he had copied and disseminated across Europe. Although he managed to defend Florence against invasion by Naples in support of the papacy, his humanist legacy died with him when Florence was taken over by Savonarola.