Passage: Cosimo was succeeded by his sickly son Piero de' Medici, who died after five years in charge of the city. In 1469 the reins of power passed to Cosimo's twenty-one-year-old grandson Lorenzo, who would become known as "Lorenzo the Magnificent." Lorenzo was the first of the family to be educated from an early age in the humanist tradition and is best known as one of the Renaissance's most important patrons of the arts. Under Lorenzo, the Medici rule was formalized with the creation of a new Council of Seventy, which Lorenzo headed. The republican institutions continued, but they lost all power. Lorenzo was less successful than his illustrious forebears in business, and the Medici commercial empire was slowly eroded. Lorenzo continued the alliance with Milan, but relations with the papacy soured, and in 1478, Papal agents allied with the Pazzi family in an attempt to assassinate Lorenzo. Although the plot failed, Lorenzo's young brother, Giuliano, was killed, and the failed assassination led to a war with the Papacy and was used as justification to further centralize power in Lorenzo's hands.

Question: What would Cosimo's grandson come to be known as?
Lorenzo the Magnificent