When we think of the world’s all-time richest people, names like Bill Gates, Warren Buffet and John D Rockefeller immediately come to mind.
But few would have thought, or even heard of, Mansa Musa I of Mali – the obscure 14th century African king who was today named the richest person in all history.
With an inflation adjusted fortune of $400 billion, Mansa Musa I would have been considerably richer than the world’s current richest man, Carlos Slim, who ranks in 22nd place with a relatively paltry $68 billion.
The list, compiled by the Celebrity Net Worth website, ranks the world’s 24 richest people of all time. The list advertises itself as the top 25, but 26 names appear in the list.
Although the list spans 1000 years, some aspects of wealth appear consistent throughout history; there are no women on the list, only three members are alive today, and 14 of the top 25 are American.
The list uses the annual 2199.6 per cent rate of inflation to adjust historic fortunes – a formula that means $100 million in 1913 would be equal to £2.299.63 billion today.
Mansa Musa I ruled West Africa’s Malian Empire in the early 1300s, making his fortune by exploiting his country’s salt and gold production. Many mosques he built as a young man still stand today.
After Mansa Musa I death in 1331, however, his heirs were unable to hang on to the fortune, and it was substantially depleted by civil wars and invading armies.
Second on the list are the Rothschild family, whose descendants are still among the richest people on the planet. Starting out in banking in the late 18th Century, Mayer Amschel Rothschild’s finance house accumulated a total wealth of $350 billion. The money has since been divided between hundreds of descendants, many of whom are business leaders today.
Meanwhile John D. Rockefeller, third on the list, is the richest American to have ever lived, worth $340billion in today's USD at the time of his death in 1937.
In comparison, the poorest man on the list is 82-year-old Warren Buffett, who at his peak net worth, before he started giving his fortune to charity, was $64billion.
Here’s the full list of the ‘26 richest people of all time’:
1. Mansa Musa I, (Ruler of Malian Empire, 1280-1331) $400 billion
2. Rothschild Family (banking dynasty, 1740- ) $350 billion
3. John D Rockefeller (industrialist, 1839-1937) $340 billion
4. Andrew Carnegie (industrialist, 1835-1919) $310 billion
5. Tsar Nicholas II of Russia (last Emperor of Russia, 1868-1918) $300 billion
6. Osman Ali Khan, Asaf Jah VII (last ruler of Hyderabad, 1886-1967) $236 billion
7. William the Conqueror (King of England, 1028-1087) $229.5 billion
8. Muammar Gaddafi (former Libyan leader, 1942-2011) $200 billion
9. Henry Ford (Ford Motor Company founder, 1863-1947) $199 billion
10. Cornelius Vanderbilt (industrialist, 1794-1877) $185 billion
11. Alan Rufus (Fighting companion of William the Conqueror, 1040-1093) $178.65 billion
12. Bill Gates (Founder of Microsoft, 1955- ) $136 billion
13. William de Warenne, 1st Earl of Surrey (Norman nobleman, ??-1088) $146.13 billion
14. John Jacob Astor (businessman, 1864-1912) $121 billion
15. Richard Fitzalan, 10th Earl of Arundel (English nobleman, 1306-1376) £118.6 billion
16. John of Gaunt (son of Edward III, 1330-1399) £110 billion
17. Stephen Girard (shipping and banking mogul, 1750-1831) $105 billion
18. Alexander Turney Stewart (entrepreneur, 1803-1876) $90 billion
19. Henry, 1st Duke of Lancaster (English noble, 1310-1361) $85.1 billion
20. Friedrich Weyerhaeuser (timber mogul, 1834-1914) $80 billion
21. Jay Gould (railroad tycoon, 1836-1892) $71 billion
22. Carlos Slim (business magnate, 1940- ) $68 billion
23. Stephen Van Rensselaer (land owner, 1764- 1839) $68 billion
24. Marshall Field (Marshall Field & Company founder, 1834-1906) $66 billion
25. Sam Walton (Walmart founder, 1918-1992) $65 billion
26. Warren Buffett (investor, 1930- ) $64 billion
More on Mansa Musa
What is known about the kings of the Malian Empire is taken from the writings of Arab scholars, including Al-Umari, Abu-sa’id Uthman ad-Dukkali, Ibn Khaldun, and Ibn Battuta. According to Ibn-Khaldun’s comprehensive history of the Malian kings, Mansa Musa’s grandfather was Abu-Bakr (the Arabic equivalent to Bakari or Bogari, original name unknown – not the sahabiyy Abu Bakr), a brother of Sundiata Keita, the founder of the Malian Empire as recorded through oral histories. Abu-Bakr did not ascend the throne, and his son, Musa’s father, Faga Laye, has no significance in the History of Mali.
Mansa Musa came to the throne through a practice of appointing a deputy when a king goes on his pilgrimage to Mecca or some other endeavor, and later naming the deputy as heir. According to primary sources, Musa was appointed deputy of the king before him, who had reportedly embarked on an expedition to explore the limits of the Atlantic ocean, and never returned. The Arab-Egyptian scholar Al-Umari quotes Mansa Musa as follows:
The ruler who preceded me did not believe that it was impossible to reach the extremity of the ocean that encircles the earth (meaning the Atlantic). He wanted to reach that (end) and was determined to pursue his plan. So he equipped two hundred boats full of men, and many others full of gold, water and provisions sufficient for several years. He ordered the captain not to return until they had reached the other end of the ocean, or until he had exhausted the provisions and water. So they set out on their journey. They were absent for a long period, and, at last just one boat returned. When questioned the captain replied: ‘O Prince, we navigated for a long period, until we saw in the midst of the ocean a great river which flowing massively. My boat was the last one; others were ahead of me, and they were drowned in the great whirlpool and never came out again. I sailed back to escape this current.’ But the Sultan would not believe him. He ordered two thousand boats to be equipped for him and his men, and one thousand more for water and provisions. Then he conferred the regency on me for the term of his absence, and departed with his men, never to return nor to give a sign of life.
Musa’s son and successor, Mansa Magha, was also appointed deputy during Musa’s pilgrimage.
Musa was a devout Muslim and his pilgrimage to Mecca, a command ordained by Allah according to core teachings of Islam, made him well-known across northern Africa and the Middle East. To Musa, Islam was the foundation of the “cultured world of the Eastern Mediterranean”. He would spend much time fostering the growth of Islam in his empire.
Musa made his pilgrimage in 1324, his procession reported to include 60,000 men, 12,000 slaves who all carried 4-lb. gold bars, heralds dressed in silks who bore gold staffs, organized horses and handled bags. Musa provided all necessities for the procession, feeding the entire company of men and animals. Also in the train were 80 camels, which varying reports claim carried between 50 and 300 pounds of gold dust each. He gave away the gold to the poor he met along his route. Musa not only gave to the cities he passed on the way to Mecca, including Cairo and Medina, but also traded gold for souvenirs. Furthermore, it has been recorded that he built a mosque each and every Friday.
Musa’s journey was documented by several eyewitnesses along his route, who were in awe of his wealth and extensive procession, and records exist in a variety of sources, including journals, oral accounts and histories. Musa is known to have visited with the Mamluk sultan Al-Nasir Muhammad of Egypt in July 1324.
Musa’s generous actions, however, inadvertently devastated the economy of the region. In the cities of Cairo, Medina and Mecca, the sudden influx of gold devalued the metal for the next decade. Prices on goods and wares super inflated in an attempt to adjust to the newfound wealth that was spreading throughout local populations. To rectify the gold market, Musa borrowed all the gold he could carry from money-lenders in Cairo, at high interest. This is the only time recorded in history that one man directly controlled the price of gold in the Mediterranean.
During his long return journey from Mecca in 1325, Musa heard news that his army recaptured Gao. Sagmandia, one of his generals, led the endeavor. The city of Gao had been within the empire since before Sakura’s reign and was an important, though often rebellious, trading center. Musa made a detour and visited the city where he received, as hostages, the two sons of the Gao king, Ali Kolon and Suleiman Nar. He returned to Niani with the two boys and later educated them at his court. When Mansa Musa returned, he brought back many Arabian scholars and architects.
Construction in Mali
Musa embarked on a large building program, raising mosques and madrasas in Timbuktu and Gao. Most famously the ancient center of learning Sankore Madrasah or University of Sankore was constructed during his reign. In Niani, he built the Hall of Audience, a building communicated by an interior door to the royal palace. It was “an admirable Monument” surmounted by a dome, adorned with arabesques of striking colours. The windows of an upper floor were plated with wood and framed in silver foil, those of a lower floor were plated with wood, framed in gold. Like the Great Mosque, a contemporaneous and grandiose structure in Timbuktu, the Hall was built of cut stone.
During this period, there was an advanced level of urban living in the major centers of the Mali. Sergio Domian, an Italian art and architecture scholar, wrote the following about this period: “Thus was laid the foundation of an urban civilization. At the height of its power, Mali had at least 400 cities, and the interior of the Niger Delta was very densely populated.”
Influence in Timbuktu
It is recorded that Mansa Musa traveled through the cities of Timbuktu and Gao on his way to Mecca, and made them a part of his empire when he returned around 1325. He brought architects from Andalusia, a region in Spain, and Cairo to build his grand palace in Timbuktu and the great Djinguereber Mosque that still stands today.
Timbuktu soon became a center of trade, culture, and Islam; markets brought in merchants from Nigeria, Egypt, and other African kingdoms, a university was founded in the city (as well as in the Malian cities of Djenné and Ségou), and Islam was spread through the markets and university, making Timbuktu a new area for Islamic scholarship. News of the Malian empire’s city of wealth even traveled across the Mediterranean to southern Europe, where traders from Venice, Granada, and Genoa soon added Timbuktu to their maps to trade manufactured goods for gold.
The University of Sankore in Timbuktu was restaffed under Musa’s reign, with jurists, astronomers, and mathematicians. The university became a center of learning and culture, drawing Muslim scholars from around Africa and the Middle East to Timbuktu.
In 1330, the kingdom of Mossi invaded and conquered the city of Timbuktu. Gao had already been captured by Musa’s general, and Musa quickly regained Timbuktu and built a rampart and stone fort, and placed a standing army, to protect the city from future invaders.
While Musa’s palace has since vanished, the university and mosque still stand in Timbuktu today.
Death
The death of Mansa Musa is highly debated among modern historians and the Arab scholars who recorded history of Mali. When compared to the reigns of his successors, son Mansa Maghan (recorded rule from 1332 to 1336) and older brother Mansa Suleyman (recorded rule from 1336 to 1360), and Musa’s recorded 25 years of rule, the calculated date of death is 1332. Other records declare Musa planned to abdicate the throne to his son Maghan, but he died soon after he returned from Mecca in 1325. Further, according to an account by Ibn-Khaldun, Mansa Musa was alive when the city of Tlemcen in Algeria was conquered in 1337, as he sent a representative to Algeria to congratulate the conquerors on their victory.
Legacy
His building program caused an intellectual and economic expansion that would continue into the later Middle Ages. It also established Mali as an economic “global power” and one of the intellectual capitals of the world. Mali became well known attracting students as far as Europe and Asia. Mansa Musa is also credited with assisting the birth of Sudano-Sahelian architecture and the spread of Islamic religion in western Africa. His military campaigns allowed Mali to become the most powerful military on the continent rivaled only by Morocco and Egypt. His greatest legacy, however, was the hajj which not only caused an economic inflation in Mediterranean but indirectly supplied financial support for the Italian renaissance.
Source: before , Independent
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