In the 15th century, Franz von Taxis (1459–1517) assured his place in history by setting up the first European postal system, which remained a monopoly until the 19th century. In recognition of his services, the family was given the former Benedictine monastery St Emmeram, henceforth known as Schloss Thurn und Taxis. It was soon one of the most modern palaces in Europe and featured such luxuries as flushing toilets. Today it is the world's largest inhabited building.
The palace complex also contains the Schatzkammer (Treasury). The jewellery, porcelain and precious furnishings on display belonged, for many years, to the wealthiest dynasty in Germany. The fortune, administered by Prince Albert II, is still estimated at well over €1 billion.