Free Imperial City in the context of "Augsburg"

Livonia, known in earlier records as Livland, is a historical region on the eastern shores of the Baltic Sea. It is named after the Livonians, who lived on the shores of present-day Latvia.

By the end of the 13th century, the name was extended to most of present-day Estonia and Latvia, which the Livonian Brothers of the Sword had conquered during the Livonian Crusade (1193–1290). Medieval Livonia, or Terra Mariana, reached its greatest extent after the Saint George's Night Uprising (1343–1345), which forced Denmark to sell the Duchy of Estonia (northern Estonia conquered by Denmark in the 13th century) to the State of the Teutonic Order in 1346. Livonia, as understood after the retreat of Denmark in 1346, bordered on the Gulf of Finland in the north, Lake Peipus and Russia to the east, and Lithuania to the south.

Jakob Fugger of the Lily (German: Jakob Fugger von der Lilie; 6 March 1459 – 30 December 1525), 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. He was born and later also elevated through marriage to Grand Burgher of Augsburg (Großbürger zu 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 prebends. American journalist Greg Steinmetz has estimated his overall wealth to be around $400 billion adjusted to 2015, equivalent to 2% of the GDP of Europe at that time.

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. As of 1525 they also had the right to mine quicksilver and cinnabar in Almadén.