Meet the 14th century african king who was richest man in the world of all timeDocument Transcript
Meet the 14th Century African king who wasrichest man in the world of all time (adjustedfor inflation!)An obscure king who ruled West Africa in the 14th century has been named therichest person in history in a new inflation-adjusted list of the worlds 25wealthiest people of all time.Spanning 1,000 years and with a combined fortune of $4.317trillion, only threeof the lists 25 are alive today; none of them are women and 14 of them areAmerican.Using the annual 2199.6per cent rate of inflation, where $100million in 1913 isequal to $2.299.63billion in 2012, Celebrity Net Worths list includes familiarnames like Bill Gates and Warren Buffett; but sitting at number one is MansaMusa I of Mali.
Centuries apart: Mansa Musa I (left) was a 12th century African King, and the richest person toever live worth $400 billion; Bill Gates (right) ranks 12th with a inflation adjusted $136 billionfortune at his peak in 1999The West Africa king, the richest person in history, and the ruler of the MalianEmpire which covered modern day Ghana, Timbuktu and Mali in West Africa,had a personal net worth of $400billion at the time of his death in 1331.The list also includes the man who gave America Wal-Mart, another whodeveloped mail-order shopping around 1870, as well as a few nobles whohelped with the Norman conquest of England in the Battle of Hastings nearlyone thousand years ago.The Rothschild family, second on the list, are the richest people on earth todaywith assets that total at least $350billion - their wealth divided amongst mining,banks, private asset management, mixed farming, wine, and charities.Meanwhile John D. Rockefeller, third on the list, is the richest American to haveever lived, worth $340billion in todays USD at the time of his death in 1937.
In comparison, the poorest man on the list is 82-year-old Warren Buffett, who athis peak net worth, before he started giving his fortune to charity, was$64billion.1. MANSA MUSA I - $400 BILLION (BORN 1280)Mansa Musa I: This video game representation of the king shows what he may have looked likeMansa Musa I, the richest person in history, had a personal net worth of$400billion at the time of his death in 1331.Born in 1280, he ruled West Africas Malian Empire which covered modern dayGhana, Timbuktu and Mali.His countrys production of more than half the worlds supply of salt and goldcontributed to Musas vast wealth, which he used to build large mosques thatstill stand today.According to the writings of Arab-Egyptian scholar Al-Umari, Musa inheritedhis throne through a practice of appointing a deputy after the king goes on hispilgrimage to Mecca; later naming the deputy as heir.
Musa was appointed deputy of the king before him, who had reportedlyembarked on an expedition to explore the limits of the Atlantic ocean, and neverreturned.Just two generations after his death, however, Musas world record net worthwas diminished after is heirs were not able to fend off civil war and invadingconquerors.2. ROTHSCHILD FAMILY - $350 BILLION (BORN 1744)Mayer Amschel Rothschild: Thanks to this founding father of international finance, MrRothschilds heirs are worth at least $350 billionThe Rothschild family, known as the House of Rothschild, are the richest peopleon earth today with assets that total at least $350billion.As a European banking dynasty, of German-Jewish origin, they establishedEuropean banking and finance houses starting in the late 18th century.It all started with Mayer Amschel Rothschild, born in 1744, who developed afinance house and installed each of his five sons in five main European financialcenters to conduct business, successfully spreading the family empire.
The Rothschild coat of arms contains a clenched fist with five arrowssymbolizing the five dynasties established by the five sons.The familys wealth was divided amongst hundreds of descendants, and today,Rothschild businesses encompass the fields of mining, banks, private assetmanagement, mixed farming, wine, and charities.3. JOHN D ROCKEFELLER - $340 BILLION(BORN 1839)John D. Rockefeller, third on the list, is the richest American to have ever lived.At the time of his death in 1937, he was worth $340billion in todays dollars - hewas also the first American acquire a net worth over $1billion.John D. Rockefeller: The richest American to have ever lived was worth $340 billion in todaysdollars
In 1870, he founded the Standard Oil Company, which dominated American Oilproduction and his monopoly was eventually broken up by the U.S. governmentinto smaller companies including Amoco, Chevron Conoco, and ExxonMobil.Two years after building an oil refinery in 1863 with his business partnerMaurice B. Clark, Mr Rockefeller bought him out for $72,500 and establishedthe firm of Rockefeller & Andrews, which he said determined his career.He then spent the last 40 years of his life in retirement, using his fortune tocreate foundations that had an unparallelled effect on medicine, education, andscientific research.In 1884, Rockefeller provided major funding for a college in Atlanta forAfrican-American women, which became Spelman College, also giving$80million to the University of Chicago, turning the small Baptist college into aworld-class institution by 1900.It was after Standard Oil moved its headquarters to Manhattan at 26 Broadwaythat Mr Rockefeller became a central figure in the New York Citys community.In 1901, he founded the Rockefeller Institute for Medical Research, which wasinstrumental in the eradication of hookworm and yellow fever, and laterchanged its name to Rockefeller University in 1965.4. ANDREW CARNEGIE - $310 BILLION (BORN 1835)Andrew Carnegie, a Scottish-American industrialist who led the enormousexpansion of the American steel industry in the late 19th century, made most ofhis fortune when he sold his Carnegie Steel Company to JP Morgan for$480million in 1901, acquiring a net worth equivalent to $310billion in todaysdollars.After selling his company, he dedicated his time to charity, giving away themajority of his fortune during his lifetime. His final $30million was thendonated after his death.
Men of the 1800s: Andrew Carnegie (left) made sold his Carnegie Steel Company to JP Morganfor $480million in 1901; Tsar Nicholas II of Russia (right) had a net worth of $300 billion whenhe was abdicated in 19175. TSAR NICHOLAS II OF RUSSIA - $300 BILLION(BORN1868)Nikolai Alexandrovich Romanov, also known as Tsar Nicholas II of Russia,ruled the Russian empire from 1894, until his abdication in 1917.With a net worth of nearly $900million, which is the 2012 inflation adjustedequivalent to $300billion, Bolshevik revolutionists (a faction of the MarxistRussian Social Democratic Labour Party) murdered the Tsar and his family,overthrowing his empire in 1918.Under his rule, he approved the Russian mobilization of August 1914, whichmarked the beginning of Russias involvement in World War I, in which 3.3million Russians were killed.6. MIR OSMAN ALI KHAN - $236 BILLION (BORN 1886)The ruler of Hyderabad until the country was invaded by India, Mir Osman AliKhan, also known as The Nizam of Hyderabad, had a personal collection ofgold that was worth more than $100million and owned over $400million worthof jewels.His famous Jacob Diamond, worth $95million today was used as a paperweightin his office. He supposedly owned more than 50 Rolls Royces.7. WILLIAM THE CONQUEROR - $229.5 BILLION (BORN1028)William The Conqueror was most famous for invading and subsequently seizingEngland in 1066. Born in 1028, he he died in 1087 leaving an equivalent of$229.5billion to his sons.
8. MUAMMAR GADDAFI - $200 BILLION (BORN 1942)Muammar Gaddafi: According to Celebrity Net Worth, after his capture and death in 2011,reports surfaced he had a secret net worth of $200 billionAccording to Celebrity Net Worth, after his capture and death in 2011, reportssurfaced that Muammar Gaddafi had a secret net worth of $200 billion.In the months surrounding his death, nearly $70billion in cash was seized inforeign bank accounts and real estate, his assets frozen.One of the assets Gaddafi owned was an Airbus A340 private jet, which hebought from Prince Al-Waleed bin Talal of Saudi Arabia for $120million in2003.The plane was captured at Tripoli airport in August 2011 as a result of theLibyan civil war, and found by BBC News reporter John Simpson to containvarious luxuries including a jacuzzi.
A year prior to acquiring the private jet, Gaddafi purchased a 7.5per cent shareof Italian football club Juventus for US$21million.Nine years later on 25 February, 2011, Britains Treasury traced Gaddafis assetsin Britain after he allegedly worked for years with Swiss banks to launderinternational banking transactions.In November 2011, The Sunday Times identified property worth £1 billion inthe UK that Gaddafi owned.9. HENRY FORD - $199 BILLION (BORN 1863)Henry Ford, founder of the iconic Ford Motor Company, also helped to developthe assembly line technique of mass production.Although Mr Ford did not invent the automobile, he developed andmanufactured the first car that middle class Americans could afford to buy,revolutionizing the U.S. transportation industry; and credited with Fordism:mass production of inexpensive goods coupled with high wages for workers.At the time of death in 1947, Mr Ford had accumulated a net worth equivalentto $199billion dollars in 2012. While he left most of his vast wealth to the FordFoundation, his family continues to control the company.
Henry Ford: Pictured with Thomas Edison in his iconic Model T, Mr Ford accumulated a networth equivalent in 2012 to $199 billion dollars10. CORNELIUS VANDERBILT - $185 BILLION (BORN1794)Better known as the great-great-great-grandfather of CNNs Anderson Cooper,Cornelius Vanderbilt, born in 1794, is the third richest American to ever live.Cornelius Vanderbilt: The great-great-great-grandfather of CNNs Anderson Cooper, MrVanderbilt is the third richest American to ever liveMaking his first fortune in the steamboat industry, his wealth exploded throughhis investments in railroads at the age of 70. At his death in 1877, his estate wasworth the equivalent of $185billion.
Mr Vanderbilt began working on his fathers ferry in New York Harbor as aboy, quitting school at the age of 11. Eight years later, the 19-year-old marriedhis first cousin, Sophia Johnson, and together they had 13 children.By the end of 1820, Mr Vanderbilt dominated the steamboat business, andbegan to take over the management of New Yorks connecting railroads, alsobuying large amounts of real estate in Manhattan and Staten Island, taking overthe Staten Island Ferry in 1838.During the 1850s, he served on the boards of directors of the Erie Railway, theCentral Railroad of New Jersey, the Hartford and New Haven, and the Harlemand in 1869, he directed the Harlem to begin construction of the Grand CentralDepot on 42nd Street in Manhattan, later to become Grand Central Station.His legacy lives on in his familys long lineage of prominent public figures. Forexample, Gloria Vanderbilt, his great-great-granddaughter, is also AndersonCoopers mother.Born in 1924, she went on to become an American artist, author, actress,heiress, and socialite, most noted as an early developer of designer blue jeans.11. ALAN RUFUS - $178.65 BILLION (BORN 1040)Alan Rufus was the military companion of William The Conqueror, the listsseventh richest person to ever live.For his efforts in fighting with William the Conqueror, Duke of Normandy, inthe Battle of Hastings, Mr Rufus was given 250,000 acres of land in England,which at the time was worth the equivalent to $178.65billion.12. BILL GATES - $136 BILLION (BORN 1955)While Bill Gates is currently the second richest person alive with a net worth of$62.5billion, at his peek in 1999, Mr Gates Microsoft stock soared, giving hima net worth equal to $136billion in todays dollars.The former chief executive and current chairman of Microsoft, the world’slargest personal-computer software company, remains the largest individualshareholder, with 6.4per cent of the common stock.
Mr Gates has pursued a number of philanthropic endeavors, donating largeamounts of money to various charitable organizations and scientific researchprograms through the Bill & Melinda Gates Foundation, established in 2000after he stepped down as Microsofts CEO that same year.
Bill Gates: Pictured left in 1984, Mr Gates is the second richest person alive with a current networth of $62.5billion; at his peek in 1999 (right) , Mr Gates Microsoft stock gave him a networth equal to $136billion13. WILLIAM DE WARENNE - $146.13 BILLION (BIRTHUNKNOWN)An English military leader and nobleman, William de Warenne, the first Earl ofSurey, was also awarded large grants of land for his service during the battle ofHastings. At his death in 1088, his land was worth the equivalent of$146.13billion.14. JOHN JACOB ASTOR - $121 BILLION (BORN 1763)John Jacob Astor made his first million by trading furs from Canada to wealthywomen in New York City, using his money to acquire some of Manhattansmost sought after real estate, with a net worth equivalent to $121billion when hedied in 1848.
Mr Astor began buying land in New York in 1779 and acquired sizable holdingsalong the waterfront. In 1803 he bought a 70 acre farm that ran west ofBroadway to the Hudson river between 42nd and 46th streets.And in the 1830s, he withdrew from the American Fur Company, using thatmoney to buy and develop large tracts of Manhattan real estate.Predicting the rapid growth northward on Manhattan Island, Astor purchasedvast amounts of land beyond the current city limits. However instead of buildingon his land, he rented it.In his will, he left $400,000 to build the Astor Library for the New York public,which was later consolidated with other libraries to form New York PublicLibrary, and $50,000 for a poorhouse and orphanage in his German hometown,Walldorf.15. RICHARD FITZALAN - $118.6 BILLION (BORN 1306)This prominent English nobleman and land owner, also known as the 10th Earlof Arundel, Richard Fitzalan had a net worth equivalent to $118.6billion at thetime of his death in 1376.16. JOHN OF GAUNT - $110 BILLION (BORN 1340)The third surviving son of Englands King Edward III, John of Gaunt wasEnglish King Richard IIs Regent and had a net worth equal to $110billion intodays dollars because of very generous land grants.17. STEPHEN GIRARD - $105 BILLION (BORN 1750)French born shipping and banking mogul Stephen Girard died with theequivalent of $105billion in 1831, in his adopted home of Philadelphia.He personally saved the U.S. government from financial collapse during theWar of 1812, and became one of the wealthiest men in America. With nochildren, he left the bulk of his estate to charity, particularly in the educationand welfare of orphans.
His father was a sea captain, and when they visited California in 1774, theybegan to amass a great fortune through trade to and from New Orleans and Portau Prince, two years later settling in Philadelphia.In 1793, during an outbreak of yellow fever in Philadelphia. Mr Girard stayed tocare for the sick and dying while many well-moneyed citizens fled.After the charter for the First Bank of the United States expired in 1811, MrGirard purchased most of its stock as well as the building and its furnishings onSouth Third Street in Philadelphia and opened his own bank with seven otheremployees in 1812 - becoming a principal source of government credit duringthe War of 1812.Towards the end of the war, when the financial credit of the U.S. governmentwas at its lowest, Mr Girard underwrote up to 95 percent of the war loan issue,which enabled the U.S. to carry on the war.Girard Bank merged with Mellon Bank in 1983, and was largely sold to CitizensBank two decades later, its headquarters still standing at Broad and ChestnutStreets in Philadelphia.18. ALEXANDER TURNEY STEWART - $90 BILLION(BORN 1803)In 1823, Alexander Turney Stewart arrived in the U.S. from Ireland and createdthe worlds largest department store at the time, becoming the developer of mail-order shopping. When he died in 1876 he was worth the equivalent of$90billion.After returning to Ireland to receive the money his grandfather had left him,between $5,000 to $10,000, Mr Turney Stewart opened a New York dry-foodsstore and by 1848 he had built the largest retail store in the world at that time onBroadway between Chambers Street and Reade Street.He created the worlds largest department store at thetime, becoming the developer of mail-order shopping
A.T. Stewart & Co. had branches in different parts of the world and ownedseveral mills and factories, with Mr Turney Stewart amassing an estimatedannual income of $1million in 1869.His flagship store offered imported European women’s clothing, and its secondfloor offered the first women’s fashion shows. A.T Stewart & Company alsoallowed women across America to purchase and order items from his wholesaledepartment store - and mail order shopping was born.In 1868, Stewart began receiving letters from women in rural parts of the U.S.requesting his merchandise, to which Mr Turney Stewart replied and sent outthe requests, even paying postage. Once received, women would send back themoney needed to pay for their orders.By 1876, he profited over $500,000 from the mailing business alone, and otherretailers like Sears, Montgomery Ward and Spiegels quickly followed suit.Out of the twenty-four clerks who entered A.T Stewart & Company in 1836, sixstill worked for the company in 1876, and Mr Turney Stewart left them morethan $250,000 (equivalent to $5,036,719 in 2009) in his will.19. HENRY DUKE OF LANCASTER - $85.1 BILLION (BORN1301)Henry Duke of Lancaster was an English nobleman who lived from 1310 to1361 and acquired a net worth equivalent to $85.1billion in modern dollars.20. FRIEDRICH WEYERHAUSER - $80 BILLION (BORN1834)Friedrich Weyerhauser made his first fortune in the timber business, buyingenough land to make him the largest private land owner in America. When hedied in 1914, his estate was worth the equivalent of $80billion in 2012 dollars.21. JAY GOULD - $71 BILLION (BORN 1836)Jay Gould was Cornelius Vanderbilts public enemy, the infamous railroad kingamassing $71billion by the time of his death in 1892.
Known as the epitome of a robber baron, the pejorative term used for apowerful 19th century American businessman who used questionable practicesto amass their wealth, Condé Nast Portfolio ranked Mr Gould as the eight worstAmerican CEO of all time in 2009.These questionable practices usually included selling products at extremely lowprices (paying their workers very poorly to do so); buying out competitors thatcouldnt keep up to secure a monopoly, before hiking prices far above theoriginal level.The railroad king was Cornelius Vanderbilts publicenemy, amassing $71 billion by 1892In August 1869, Mr Gould allegedly began to buy gold in an attempt to cornerthe market, hoping that its price increase would in turn increase the price ofwheat, causing the amount of bread stuffs shipped eastward to double -increasing freight business for the Erie railroad.These speculations in gold culminated in the panic of Black Friday, onSeptember 24, 1869, when the premium over face value on a gold Double Eaglefell from 62per cent to 35per cent.Mr Gould made a nominal profit from this operation, but established hisreputation in the press as an all-powerful figure who could drive the market upand down at will.22. CARLOS SLIM - $68 BILLION (BORN 1940)Mexican business mogul Carlos Slim Helu is the richest living person today,with a current net worth of $68billion ($5.2billion more than Bill Gates, today).Presently he is the chairman and chief executive of telecommunicationscompanies Telmex and América Móvil, which in 2010 was Latin America’slargest mobile-phone carrier, accounting for approximetly US$49 billion of MrSlims wealth.At the age of 12, with the help of his father, Mr Slim bought shares in aMexican bank. At the age of 17, in 1957, he earned 200 pesos a week workingfor his fathers dry-food store company.
Slowly, by focusing on construction, real estate and mining businesses, as of1972 he had established seven businesses in these categories, including onewhich rented construction equipment.In 1976, he formed Grupo Galas as the parent company that had interests inconstruction, mining, retail, food, and tobacco. Fast forward to 2006, Mr Slimslicensed the Saks name and opened Saks Fifth Avenue in Santa Fe, Mexico. Thefollowing year saw him take a 6.4per cent stake in The New York TimesCompany.His ever-growing fortune, amassed in a developing country where per capitaincome does not surpass $14,500 per year, and nearly 17per cent of thepopulation lives in poverty, has caused controversy.Critics claim that Mr Slim is a monopolist, pointing to Telmexs control of90per cent of the Mexican landline telephone market, which charges among thehighest usage fees in the world, according to the Organisation for Economic Co-operation and Development.22. STEPHEN VAN RENSSELAER - $68 BILLION (BORN1764)Stephen van Rensselaers family owned much of what would become New YorkState, including Manhattan.Born in 1764, to Catharina Livingston, the daughter of Philip Livingston, asigner of the Declaration of Independence, Mr van Rensselaer inherited the1,200 square mile estate from his father when he turned 21.Later becoming Lieutenant Governor of New York, Mr van Rensselaer grantedthe 3,000 tenants of his land perpetual leases at moderate rates, which savedthem from having to pay all of their money up front.As Lieutenant Governor of New York, he voted toextend suffrage and advocated a canal from the HudsonRiver to the Great Lakes
Farmers, who did not have to work in fear of sudden foreclosure or unfairtreatment, were able to invest more in their operations and focus on their work,leading to increased productivity in the entire Albany area.Mr van Rensselaer, over his time in politics voted in favour of extendingsuffrage, going against much of New Yorks upper class in doing so.He was one of the first to advocate a canal from the Hudson River to the GreatLakes and was appointed a commission to investigate the route in 1810.His eldest son, also named Stephen, inherited the manor in 1839 by his fatherswill. However during the anti-rent troubles in 1839 he sold his townships, and athis death the manor passed out of the hands of his descendants.23. MARSHALL FIELD - $66 BILLION(BORN 1834)The founder of Marshall Field and Company, a Chicago-based departmentstores, real estate mogul Marshall Field was worth $66 billion, inflationadjusted, at the time of his death in 1906.Mr Field and New Yorks John D. Rockefeller, together founded The Universityof Chicago to rival nearby Evanstons Northwestern University.24. SAM WALTON - $65 BILLION (BORN 1918)Sam Walton, the man who gave America Walmart, had a net worth of$65billion at the time of his death in 1992, which he left to his widow and threechildren.Ten years later, the total value of that stock split among his heirs has grown toover $100 billion.After leaving the military at age 26 in 1945, Mr Walton took over themanagement a variety store. A few years later, with the help of a $20,000 loanfrom his father-in-law, plus $5,000 savings from his time in the army, MrWalton purchased his first Ben Franklin variety store in Newport, Arkansas.Less than 20 years later, Mr Walton opened the first true Wal-Mart in Rogers,Arkansas, which was called the Wal-Mart Discount City store.
He launched a determined effort to market American-made products, oftenfinding American manufacturers who could supply merchandise for the entireWal-Mart chain at a price low enough to meet the foreign competition.25. WARREN BUFFETT - $64 BILLION (BORN 1930)Warren Buffett, widely considered the most successful investor of the 20thcentury, had a peak net worth of $64billion before he started giving all hismoney to charity.Warren Buffett: Widely considered the most successful investor of the 20th century, he had apeak net worth of $64billionThe 82-year-old is the primary shareholder, chairman and CEO of BerkshireHathaway, ranked as the worlds wealthiest (living) person in 2008 by Forbes,and as the third wealthiest person in 2011.While still in high school, Mr Buffett made his money by deliveringnewspapers, selling golf balls and stamps, and detailing cars.
In 1945, in his sophomore year of high school, Mr Buffett purchased a usedpinball machine with a friend, which they placed in their local barber shop.Within months, the pair owned several machines in different barber shops.By 1950, at the age of 20, Mr Buffett had saved $9,800 (nearly $94,000,inflation adjusted, for 2012), and in 1956, through investments, his personalsavings were over $174,000 ($1.47 million inflation adjusted to 2012).Pledging his fortune to charity, Mr Buffetts children will not inherit asignificant proportion of his wealth. He once commented: I want to give mykids just enough so that they would feel that they could do anything, but not somuch that they would feel like doing nothing.In 2010, Mr Buffett, Bill Gates, and Facebook CEO Mark Zuckerberg, signed apromise they called the Gates-Buffett Giving Pledge, in which they promisedto donate to charity at least half of their wealth over time, and invited otherwealthy elite to donate 50per cent or more of their wealth to charity.Read more: http://www.dailymail.co.uk/femail/article-2218025/Meet-14th-Century-African-king-richest-man-world-time-adjusted-inflation.html#ixzz29PBevABvFollow us: @MailOnline on Twitter | DailyMail on Facebook