On August 26th an article was posted on Forbes Magazine's website entitled "Jeff Bezos Becomes The First Person Ever Worth $200 Billion". I'm kind of a history buff, so immediately I knew the headline was wrong and misleading! I was especially upset and disappointed that this article was published by Forbes Magazine, an industry leader and trusted source in the finance industry. Therefore, I have decided to set the record straight; Jeff Bezos is not only not the first person ever worth $200 billion, there are several people throughout history who were worth far more than a measly $200 billion. And in this blog, we'll take a look at 10 of them; the 10 wealthiest people of all time (with all wealth being adjusted for inflation):
10. Osman Ali Khan
Year: 1886 - 1967
Country: India
Wealth: $236 Billion
The former Nizam of Hyderabad, Osman Ali Khan, had a net worth of $236 billion. The Nizam possessed such enormous wealth that he used the Jacob Diamond, a 185-carat diamond, as a paperweight.
The Nizam is known to have remained the richest man in South Asia until his death in 1967, but his fortune had fallen to $1 billion by then as more than 97% of his wealth, including jewelry belonging to his family, was seized by the newly formed Indian Government.
The Indian government still exhibits the jewelry as the Jewels of the Nizams of Hyderabad (now in Delhi). There are 173 jewels, which include emeralds weighing nearly 2,000 carats (0.40 kg), and pearls. The collection includes gemstones, turban ornaments, necklaces and pendants, belts, and buckles, earrings, armbands, bangles and bracelets, anklets, cufflinks and buttons, watch chains, and rings, toe rings, and nose rings.
9. Tsar Nicholas II of Russia (aka Nikolai Romanov)
Year: 1894 - 1917
Country: Russia
Wealth: $300 Billion
Nicholas Romanov ruled over the Russian Empire from 1894 to 1917, during which time he had full access to the nation's coffers, making him one of the richest monarchs in history.
During his reign, Russia embarked on a series of reforms including the introduction of civil liberties, literacy programs, state representation, and initiatives to modernize the empire's infrastructure. This progress was ultimately undermined by Nicholas's commitment to autocratic rule, oppressive policies, and crushing defeats sustained by the Russian military in the Russo-Japanese War and World War I. As monarch, the income of Nicholas was 24 million gold roubles per annum: this derived from a yearly allowance from the Treasury, and from the profits of Crown farmland.
8. Andrew Carnegie
Year: 1835 - 1919
Country: United States of America
Wealth: $310 Billion
Andrew Carnegie was a Scottish-American industrialist who had an inflation adjusted net worth of $310 billion. Carnegie led the expansion of the American steel industry in the late 19th century and became one of the richest Americans in history. He became a leading philanthropist in the United States and in the British Empire. During the last 18 years of his life, he gave away $350 million ($9.2 billion in 2020 dollars) to charities, foundations, and universities. His 1889 article proclaiming "The Gospel of Wealth" called on the rich to use their wealth to improve society, and stimulated a wave of philanthropy.
7. Jakob Fugger (aka Jakob the Rich)
Year: 1459 - 1525
Country: Germany
Wealth: $400 Billion
Jakob Fugger of the Lily (German: Jakob Fugger von der Lilie), also known as Jakob Fugger the Rich or sometimes Jakob II, was a major German merchant, mining entrepreneur, and banker. He was a descendant of the Fugger merchant family located in the Free Imperial City of Augsburg, where he was born and later also elevated through marriage to Grand Burgher of Augsburg (German Großbürger zu Augsburg).
Within a few decades he expanded the family firm to a business operating in all of Europe. The foundation of the family's wealth was created mainly by the textile trade with Italy. After 1487, Jakob Fugger was the de facto head of the Fugger business operations which soon had an almost monopolistic hold on the European copper market.
Jakob Fugger secured his legacy and lasting fame through his foundations in Augsburg. A chapel funded by him and built from 1509 to 1512 is Germany's first renaissance building and contains the tombs of the brothers Ulrich, Georg and Jakob. The Fuggerei, founded by Jakob in 1521, is the world's oldest social housing complex still in use.
6. John D. Rockefeller
Year: 1839 - 1937
Country: United States of America
Wealth: $400 Billion
The wealthiest American ever is widely considered to be John D. Rockefeller, worth about $400 billion in inflation-adjusted dollars. Members of his family continue to be some of the wealthiest people in U.S. history. His wealth continued to grow significantly (in line with U.S. economic growth) as the demand for gasoline soared, eventually reaching about $900 million on the eve of the First World War, including significant interests in banking, shipping, mining, railroads, and other industries. By the time of his death in 1937, Rockefeller's remaining fortune, largely tied up in permanent family trusts, was estimated at $1.4 billion, while the total national GDP was $92 billion.
5. Mansa Musa (aka Musa I)
Year: 1280 - 1337
Country: Mali
Wealth: $418 Billion
Musa I, or Mansa Musa, was the tenth Mansa (which translates to "sultan", "conqueror" or emperor") of the Mali Empire, an Islamic West African state. He has been described as the wealthiest individual of the Middle Ages with a peak net worth of approximately $418 billion in 2020 dollars. At the time of Musa's ascension to the throne, Mali in large part consisted of the territory of the former Ghana Empire, which Mali had conquered.
Musa conquered 24 cities, along with their surrounding districts. During Musa's reign, Mali may have been the largest producer of gold in the world, and Musa has been considered one of the wealthiest historical figures. Musa is generally referred to as "Mansa Musa" in Western manuscripts and literature. His name also appears as "Kankou Musa", "Kankan Musa", and "Kanku Musa". Other names used for Musa include "Mali-Koy Kankan Musa", "Gonga Musa", and "the Lion of Mali". He was a patron of science, the arts, literature and architecture and the empire flourished culturally during his reign.
4. Augustus Caesar I
Year: 63 BC - 14 AD
Country: Italy
Wealth: $4.6 Trillion
Augustus was the first Roman emperor, reigning from 27 BC until his death in AD 14, and the founder of the Julio-Claudian dynasty. His status as the founder of the Roman Principate has consolidated an enduring legacy as one of the most effective and controversial leaders in human history. Augustus Caesar controlled much of the world's most powerful states — including Egypt — as he rang up his $4.6 trillion net worth.
The reign of Augustus initiated an era of relative peace known as the Pax Romana. The Roman world was largely free from large-scale conflict for more than two centuries, despite continuous wars of imperial expansion on the Empire's frontiers and the year-long civil war known as the "Year of the Four Emperors" over the imperial succession.
3. Akbar I (aka Akbar the Great)
Year: 1542 - 1605
Country: India
Wealth: $21 Trillion
Abu'l-Fath Jalal-ud-din Muhammad Akbar, popularly known as Akbar the Great, and also as Akbar I, was the third Mughal emperor, who reigned from 1556 to 1605. Akbar succeeded his father, Humayun, under a regent, Bairam Khan, who helped the young emperor expand and consolidate Mughal domains in India.
Renowned for his lavish lifestyle and patronage of the arts, this emperor conquered hundreds of thousands of square miles of territory and ruled over much of the Indian subcontinent, known as the Mughal Empire from 1556 until 1605.
Akbar was a warrior, emperor, general, animal trainer (reputedly keeping thousands of hunting cheetahs during his reign and training many himself), and theologian. Believed to be dyslexic, he was read to everyday and had a remarkable memory.
2. Shenzong of Song
Year: 1048 - 1085
Country: China
Wealth: $30 Trillion
Emperor Shenzong of Song, personal name Zhao Xu, was the sixth emperor of the Song dynasty in China. His original personal name was Zhao Zhongzhen but he changed it to "Zhao Xu" after his coronation.
During his reign in 1068, Emperor Shenzong became interested in Wang Anshi's policies and appointed Wang as the Chancellor. Wang implemented his famous New Policies aimed at improving the situation for the peasantry and unemployed. These acts became the hallmark reform of Emperor Shenzong's reign. Emperor Shenzong died in 1085 at the age of 36 from an unspecified illness and was succeeded by his son, Zhao Xu.
1. Genghis Khan
Year: 1162 - 1227
Country: China
Wealth: $100s of Trillions
The fearsome Mongol leader conquered a mind-blowing 12 million square miles of land between 1206 and his death in 1227, more than anyone else in history. Genghis Khan (born Temüjin Borjigin), also officially Genghis Huangdi, was the founder and first Great Khan and Emperor of the Mongol Empire, which became the largest contiguous empire in history after his death.
Beyond his military accomplishments, Genghis Khan also advanced the Mongol Empire in other ways. He decreed the adoption of the Uyghur script as the Mongol Empire's writing system. He also practiced meritocracy and encouraged religious tolerance in the Mongol Empire, unifying the nomadic tribes of Northeast Asia. Present-day Mongolians regard him as the founding father of Mongolia. He is also credited with bringing the Silk Road under one cohesive political environment. This brought relatively easy communication and trade between Northeast Asia, Muslim Southwest Asia, and Christian Europe, expanding the cultural horizons of all three areas.
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