Templars Were the First Multinational Conglomerate

By definition, a conglomerate is a type commercial (business) entity that consists of several different and unrelated business entities that operate in various industries.

The order of Knights Templar fit this definition to a “t” as its commercial (financing) arm consisted of vastly different businesses: agriculture, manufacturing, transportation, banking, financial services, etc.

Although individual members were sworn to poverty, the Templar Order controlled immense wealth that rivaled many kingdoms. Templars owned and managed farms and vineyards; they were involved in manufacturing, import, and export; they owned a flees of ships; and at one point they even owned the entire island of Cyprus (!!).

They started their financial services arm with assets management (a nobleman participating in the Crusades would place all his assets under Templar management during his absence) and safekeeping – no sane burglar would want to mess with Templars.

From that they expanded into providing loans to kings and nobles – and in 1150 the order began to issue letters of credit to pilgrims journeying to the Holy Land.

Pilgrims deposited their valuables with a local Templar preceptory before embarking, received a document indicating the value of their deposit, then showed that document upon arrival in the Holy Land to claim the equal amount.

This innovative arrangement was the first use of Traveler’s cheques (the latter were reinvented in Great Britain 600 years later); it protected pilgrims from robbery, while augmenting Templar finances.

It was a genuinely multinational conglomerate (the first de-facto multinational corporation in history) as it operated not only in Palestine, but all over Europe: in modern-day France, Germany, Italy, Spain, Belgium, Portugal, England, Scotland, Wales, Cyprus – and even in Eastern Europe (Poland, Slovenia and Czech lands).

However, it was a unique conglomerate because it included non-commercial (and non-government entities): a fundraising arm; special forces (shock troops of Christian armies in the Outremer); its own churches and a recruiting organization. And even a secret heretical religious sect – Ark Templar.

Ultimately (after they were driven out of the Holy Land) the Templars became a genuine pan-European shadow state (although their founders never planned it). Which became a primary reason for their downfall.