[2] He was the fourth son of Anton Fugger and Anna von Rehlingen.
On their father's death in 1560, he and his brothers jointly managed the family's company and lands, which were both now of considerable size.
[3] In 1573, all the lands were divided between the brothers, with Jakob gaining the lordships of Babenhausen, Wellenburg and Boos among others.
In 1583, he and his brothers were granted Reichsstandschaft in the Schwäbischen Reichsgrafenkollegium and the status of count in the Swabian Reichskreis.
[4] In 1570, Jakob married Anna Ilsung von Tratzberg.