Cardinal Henry Beaufort

Henry Beaufort was an English cardinal, landowner, member of the royal family, diplomat, and politician. He was known as The Rich Cardinal.

Beaufort was the second of four illegitimate children of John of Gaunt, Duke of Lancaster, son of Edward III (r. 1327-1377). His father managed to legitimize his birth by papal bull and royal charter in 1396-7. From an early age he was marked out for a clerical career. His roots helped him gather church and other appointments and in 1396, he was provided by papal bull to the deanery of Wells, while the University of Oxford made him its chancellor in April 1397, still just 22. At the age of 24 he was installed as Bishop of Lincoln.

On 28 February 1403, Beaufort was appointed Chancellor of England. As a reward for his political service he was elevated to the rich see of Winchester in November 1404. In 1405 he resigned the Chancellorship. Beaufort used much of his wealth to finance English military operations in France. He helped raise the money for the campaign that led to the British triumph at Agincourt in 1415; in 1417 he loaned to the government £14,000 and some time later he loaned another £17,666; in 1435 he loaned £18,666; in 1443 he loaned £22,666.

Beaufort's source of wealth remains as unclear as it was to his contemporaries, but the revenues of his see, the perquisites of office and influence, the export of wool, and his elder brother's legacy are all possible sources. At the height of his career, his fortune was around £50,000, or £16.9bn in 2010's money.