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In page House of Medici:

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Cosimo the Elder and his father started the Medici foundations in banking and manufacturing—including a form of franchises. The family's influence grew with its patronage of wealth, art, and culture. Ultimately, it reached its zenith in the papacy and continued to flourish for centuries afterward as Dukes of Florence and Tuscany. At least half, probably more, of Florence's people were employed by the Medici and their foundational branches in business.[citation needed]