The city of Florence during the Renaissance was under the control of the very enlighted and rich family of Medici, who together with other high middle class families (among others Pitti, Strozzi and Ruccellai) promoted a renewal of the city in particular promting art and culture. In particular figurative arts flourished both for the presence of patronage and great artists (such as Brunelleschi, Masaccio, Donatello at the beginning of Reinassance and Leonardo da Vinci, Michelngelo later).
Italian Merchants did so much money first of all because Itay had a very strategic geographical position in Europe, then the "Repubbliche Marinare" (sort of republican city-state based on sea trade) were an old institution that estabilished a lot of connection among Italians and merchants from all over the world.
(sorry for my English, but I'm not an anglophone speaker)
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