The name Rico is a diminutive form of the Spanish name Enrique, which is derived from the Germanic name Heimrich. Heimrich is composed of the elements "heim," meaning "home," and "ric," meaning "power" or "ruler." The name Enrique was introduced to Spain by the Visigoths and eventually evolved into the modern form of Rico.

Rico has its origins in the medieval period, during the time of the Reconquista in Spain. The name was likely used as a nickname or shortened version of Enrique among the Spanish nobility and military leaders who fought against the Moors during this period. It may have been a way to distinguish between different individuals with the same name or to convey a sense of familiarity or affection.

One of the earliest recorded instances of the name Rico can be found in the 13th-century Spanish epic poem "El Cantar de Mio Cid," which tells the story of the Castilian hero El Cid. In this work, Rico is mentioned as the name of one of El Cid's companions, suggesting that the name was in use during this time.

Throughout history, several notable individuals have borne the name Rico. One example is Rico da Montechiaro (c. 1330-1390), an Italian lawyer and statesman who served as a diplomat and advisor to King Robert of Naples. Another is Rico Basso (1492-1579), an Italian painter and architect active during the Renaissance.

In the realm of exploration and discovery, Rico el Viejo (1460-1529) was a Spanish navigator and explorer who accompanied Christopher Columbus on his third voyage to the Americas in 1498. He later became the first European to set foot on the mainland of South America.

In more recent times, Rico Lebrun (1900-1964) was a American painter and sculptor known for his murals and sculptures depicting the human figure. Rico Constantino (1919-2005) was a Filipino businessman and politician who served as a senator and played a prominent role in the opposition against the Marcos regime.

These are just a few examples of individuals throughout history who have carried the name Rico. While its origins can be traced back to the Middle Ages in Spain, the name has since spread to various parts of the world and has been borne by people from diverse backgrounds and professions.