20 Of The Wealthiest Individuals Throughout History
20 Of The Wealthiest Individuals Throughout History

20 Of The Wealthiest Individuals Throughout History

Steve - April 12, 2019

20 Of The Wealthiest Individuals Throughout History
“Coronation of Basil II as co-emperor to his father, Romanos II, by Patriarch Polyeuctus, on 22 April 960” (c. the 13th century). Wikimedia Commons.

12. The longest-reigning monarch of the Byzantine Empire, Basil II accrued an incalculable fortune through successful wars and trading relations with his European partners.

Basil II, also known as the Bulgar Slayer, reigned as the Byzantine Emperor from 976 until his death in 1025. The son of Emperor Romanos II, the early years of Basil’s prolonged reign were plagued by civil war and political intrigue. Finally instilling order and peace in 989, Basil focused his attentions on the expansion of the eastern frontier of his empire. Subjugating the Bulgarian Empire, the militaristic and aggressive emperor also launched wars against the Fatimid Caliphate and the Khazar Khaganate, winning large parts of Crimea and Georgia. Despite these warlike propensities, Basil also demonstrated an effective administrative capacity.

Leading the Christianization of the Kievan Rus’, including wedding his sister to Vladimir I of Kiev, Basil instituted the famed Varangian Guard as his personal elite corps. Reforming the Byzantine Empire to restrict the power of the noble houses, Basil amassed an enormous royal treasury to support his endeavors. Leaving the Byzantine Empire at its largest and strongest in centuries, Basil personally negotiated a treaty with the Doge of Venice to ensure the empire’s financial stability and future. Upon his death, Basil’s annual revenue was estimated to surpass 200,000 pounds of gold and his personal wealth equated to $169,000,000,000.

20 Of The Wealthiest Individuals Throughout History
Alan Rufus swearing fealty to William the Conqueror (c. the 14th century). Wikimedia Commons.

11. Another companion of William the Conqueror, Alan Rufus also exploited the spoils of the Norman Conquest to become one of the wealthiest men of Europe with an estate worth the equivalent of almost $200 billion.

Alan Rufus, 1st Lord of Richmond, was a companion of Duke William II of Normandy, thought to have been his uncle, and a leading supporter of the latter’s claim to the throne of England in 1066. Enjoying property in Normandy, it is believed Alan was present during the Battle of Hastings and that his forces were instrumental in driving the English from the field. Claiming lands in Cambridgeshire for his own, much of Alan’s early acquisitions in England are believed to have been seized from the late King Harold’s widow, Edith the Fair. Successfully putting down a rebellion in Northumberland in 1069, Alan was awarded a vast tract of land in North Yorkshire.

Counted among the leading lords in the Domesday Survey, by 1086 Alan had become one of the wealthiest and most powerful men in England, behind only King William himself and Robert, Count of Mortain in the number of holdings. Enjoying an annual income of £1,200, Alan ferociously defended his relative during the Rebellion of 1088, earning an even greater expansion of his lands and titles. Dying suddenly in 1093 without children, his vast fortune passed to his brothers, estimated to be valued today at one hundred and ninety-five billion dollars.

20 Of The Wealthiest Individuals Throughout History
Portrait of Henry Ford (c. 1919). Wikimedia Commons/Library of Congress.

10. Revolutionizing perceptions and the production of automobiles, Henry Ford became one of the wealthiest men in American history with a projected value of $200 billion.

Henry Ford (b. 1863) was an American businessman and founder of the Ford Motor Company. Investing in the concept of the assembly line, Ford sought to transform automobiles from an exclusive item to a commonplace object of middle-class American life. His business philosophy – Fordism – became the gold standard for economic modeling for decades, melding the mass production of inexpensive goods with high wages for workers to maximize productivity. Creating his eponymous company in 1903, following a two-year unsuccessful stint with the Henry Ford Company, Ford sought to ensure his new venture remained under close family control.

Fanatically lowering costs to increase profits, the launch of the Model T in 1908 signaled a new era of affordable automobiles. Increasing the output of the Ford Motor Company from 18,000 cars in 1909 to more than one million by 1920, Ford elevated both himself and his company into a global brand and revolutionized an industry. However, less admirably Ford was an unrepentant anti-Semite, funding printing of The Protocols of the Elders of Zion and authoring The International Jew, the latter of which profoundly influenced the political philosophy of Adolf Hitler. Dying in 1947, Ford’s net worth is projected to have been worth the equivalent of two hundred billion dollars today.

20 Of The Wealthiest Individuals Throughout History
Portrait of Cornelius Vanderbilt (c. 1844-1860). Wikimedia Commons.

9. Cornelius Vanderbilt, the source of the Vanderbilt family fortune, created a near-total monopoly over rail transport in the Eastern United States and earning the equivalent of $215 billion in the process.

Cornelius Vanderbilt (b. 1794) was an American businessman best known for founding the New York Central Railroad. Nicknamed “The Commodore” in later life, Vanderbilt was born in Staten Island to a family of moderate means. Starting his own ferry service at the age of sixteen, Vanderbilt carried freight and passengers between Staten Island and Manhattan. Expanding his operations across the surrounding regions, Vanderbilt ruthlessly absorbed his competitors. Despite this, Vanderbilt successfully used populist language to appear amiable, calling his Hudson River Steamboat Association – a monopoly between New York City and Albany – “The People’s Line”.

Forcibly targeting the stocks of company’s he sought to acquire, Vanderbilt gradually built a colossal empire. Controlling more than a dozen railroad companies spanning the Eastern United States, Vanderbilt controlled a near-monopoly over trains and freight, permitting him to amass a monumental personal fortune. Leaving virtually all of his more than one hundred million dollar estate to his son, William Henry Vanderbilt, offering just $500,000 to his daughters and $200,000 to his youngest son, Cornelius’ estate would today have been valued at approximately $215,000,000,000.

You May Interested: How the Vanderbilts Lost the World’s Greatest Fortune?

20 Of The Wealthiest Individuals Throughout History
Panel from the Bayeux Tapestry, depicting Duke William lifting his helmet at the Battle of Hastings to show that he still lives (c. the late-11th or early-12th century. Wikimedia Commons.

8. William the Conqueror, fighting to claim and hold lands and titles his whole life, seized incalculable wealth via his victories in battle, amassing an almost $215 billion fortune.

William I, also known as William the Conqueror or William the Bastard, was the first Norman King of England, reigning from 1066 until his death in 1087. Born 1028, the son of the unmarried Robert I of Normandy, William inherited his father’s dukedom at the age of just seven. Facing political intrigue and attempts to usurp his lands and title, the young William was unable to successfully fight back until 1047. Gradually quashing pockets of resistance to his authority, it would take until 1060 for William to exert full control over Normandy. Within just two years, however, William would have already conquered the neighboring county of Maine.

Increasingly vying for the throne of England in the 1050s, upon the childless death of his first cousin once removed, King Edward the Confessor, in January 1066, William declared himself the successor. Claiming Edward has promised him the crown, and that Harold had pledged to support him, William invaded England in September 1066 to seize his due. Defeating Harold at the Battle of Hastings, William was crowned on Christmas Day. Winning vast lands and a colossal personal fortune through his staggering conquests, William accumulated an estate with a projected value of $228,000,000,000 today.

20 Of The Wealthiest Individuals Throughout History
Painting of the last Nawab of Hyderabad Mir Osman Ali Khan, by S.N. Barid; date unknown. Wikimedia Commons.

7. Using a $50 million diamond as a paperweight, the last Nizam of Hyderabad, Osman Ali Khan reached a peak wealth of $230,000,000,000 before forfeiting 97% of his fortune after the loss of his crown in 1948.

Mir Osman Ali Khan Siddiqi, Asaf Jah VII, born Mir Osman Ali Khan Bahadur in 1886, was the last Nizam of Hyderabad and Berar, reigning from 1911 until the annexation of his state by India in 1948. Ruling over the state of Hyderabad, the largest of the pre-independence princely states of British India, despite only presiding over an area the size of the United Kingdom Osman oversaw a vastly wealthy enterprise. With Hyderabad serving as the only supplier of diamonds for the global market during the 18th century, Osman inherited vast wealth from his family, being described in 1937 as the “world’s richest man” on the cover of TIME magazine.

With a jewelry collection, including hundreds of articles, reputedly worth more than one billion dollars, Osman flaunted his wealth and excess. Offering a wedding gift to the future Queen Elizabeth, Osman presented a diamond tiara and necklace – the Nizam of Hyderabad necklace – valued today at more than ten million dollars. Invaded in 1948, a year after Indian independence, Osman was forced to flee into exile in Saudi Arabia, where he became the wealthiest individual in the Arab nation. Although abandoning the preponderance of his wealth, carrying only the equivalent of forty billion dollars, at his peak Osman was worth more than two hundred and thirty billion.

20 Of The Wealthiest Individuals Throughout History
“Portrait of Jakob Fugger”, by Albrecht Dürer (c. 1519). Wikimedia Commons.

6. Jakob Fugger, commonly known as “the Rich” due to his tremendous wealth, became the silent financial backer of several European monarchs, investing his profits wisely to accumulate a fortune nearing $300 billion in equivalent value.

Jakob Fugger (b. 1459) was a German banker and investor who exploded to prominence during the late 15th century. The son of Jakob Fugger the Elder, Jakob II was the tenth child of his successful merchant father, who had established himself in the Italian textiles trade. Building off of the foundational work of his elder brothers, Ulrich and Georg, who founded manufactories in Venice and Nuremberg, by the age of fourteen Jakob was intimately involved in the family business. Expanding their operations to include banking, providing credit to the Imperial House of Habsburg as well as the Papal Curia, Jakob reinvested proceeds into mining ventures in Bohemia and Hungary.

Becoming the de facto head of the Fugger business by 1487, the family soon established a European monopoly over copper. Financing the rise of Maximilian I to the Holy Roman Throne, as well as supporting Charles V, Jakob hovered behind the scenes of European political machinations for decades. Profiting the whole time, by 1511 his personal wealth exceeded two percent of Europe’s GDP. Upon his death in 1525, Jakob bequeathed more than two million guilders – a Dutch gold coin – to his nephew, with his estate valued at approximately $280,000,000,000 in today’s terms.

20 Of The Wealthiest Individuals Throughout History
Portrait of Nicholas II of Russia; author and date unknown. Wikimedia Commons.

5. The last of the Russian monarchy, presiding over the fall of the Romanov dynasty, Nicholas II nevertheless accrued a peak personal fortune of approximately $300,000,000,000.

Nicholas II, also known as Nicholas the Bloody, was the last Emperor of Russia, reigning from 1894 until his forced abdication in 1917. Born in 1868, his father, Alexander III, failed to prepare his son for the throne, believing that he had decades longer to introduce Nicholas to governing. Inexpert and untrained, the reign of Nicholas II was fraught with political and military turmoil. Losing the Russo-Japanese War of 1904-1905, during which the Russian Baltic Fleet was embarrassingly destroyed, Nicholas was forced to violently suppress the 1905 Russian Revolution. Entering World War One, Russia’s performance remained dire.

Losing an estimated 3.3 million Russian soldiers, Nicholas was held personally responsible. After the February Revolution of 1917, Nicholas was compelled to abdicate on behalf of the entire House of Romanov and was taken into custody. Following the October Revolution, which brought the Bolsheviks to power, the imprisoned royal family were executed in July 1918. Despite an ignoble end, Nicholas II, through his capacity as Emperor of All Russia, amassed a vast personal wealth prior to his downfall. Modern estimates place his fortune in 1916 in the vicinity of three hundred billion in 2018 terms.

20 Of The Wealthiest Individuals Throughout History
Andrew Carnegie, by Theodore Christopher Marceau (c. 1913). Wikimedia Common/Library of Congress.

4. Born into an impoverished Scottish family, Andrew Carnegie rose to become the wealthiest man in America with an equivalent net worth of $375 billion.

Andrew Carnegie (b. 1835) was a Scottish-American industrialist and business magnate, remembered in particular for leading the expansion of the American steel industry in the late 19th century. Born in Dunfermline, Scotland, into a working-class weaving family, at the age of thirteen Carnegie emigrated to the United States with his parents out of desperation due to starvation and economic depression. Joining his father at work in Allegheny, Pennsylvania, the pair worked twelve hours per day, six days per week, earning less than two dollars per week each. Employed as a telegraph operator by the Pennsylvania Railroad Company in 1853, Carnegie’s rapid rise soon followed.

Becoming superintendent of the Western Division by 1858, Carnegie invested nearly all of his earnings into the booming railways, in so doing multiplying his stake many times over. By the 1860s, Carnegie had earned enough through smart speculative investments, including in oil farms, to enter the ironworks industry. His greatest accomplishment, in 1892 Carnegie founded his eponymous steel company, selling it just nine years later for over three hundred million dollars. Donating vast sums to charity, founding thousands of local libraries, Carnegie’s peak wealth, during which time he was briefly the wealthiest man in America, reached the equivalent of $375,000,000,000.

20 Of The Wealthiest Individuals Throughout History
John D. Rockefeller in 1885. Wikimedia Commons.

3. The richest person in modern history, John D. Rockefeller Sr. was America’s first billionaire with an adjusted-for-inflation net worth exceeding $400 billion.

John Davison Rockefeller Sr. (b. 1839) was an American oil tycoon and industrialist during the late-19th and early-20th centuries. Born into an unremarkable family, John, along with his brother William and friend Samuel Andrews, founded Rockefeller & Andrews in their early 20s to attempt to break into the oil refining business. Growing and expanding respectably, in 1870 Rockefeller founded the Standard Oil Company. Profiting from the soaring costs of gasoline, Standard Oil, through highly unsavory and ruthless business strategies, successfully created a virtual monopoly over the American oil industry.

Controlling at its peak more than ninety percent of all oil in the United States, Standard Oil was ordered dismantled into thirty-four separate components by the Supreme Court in 1911 due to anti-trust violations. Although opening up the oil industry, this separation financially benefited Rockefeller, whose personal shares in the new spin-off companies, such as ExxonMobil and Chevron, exploded in value. Becoming the wealthiest man in America and the first billionaire in the nation’s history, Rockefeller’s peak net worth came just two years later in 1913, valued at $409,000,000,000 when adjusted for inflation.

20 Of The Wealthiest Individuals Throughout History
Musa I depicted holding a gold coin, as represented in the Catalan Atlas by Abraham Cresques (c. 1375). Wikimedia Commons.

2. Musa I of the Mali Empire – the leading producer of gold – became so inordinately wealthy that during a pilgrimage to Mecca he donated more than 24 tons of gold to the poor without care.

Musa I, also known as Mansa Musa, was the tenth Sultan of the Mali Empire, reigning from 1312 until his death in 1337. Ascending to the throne due to the customs of the Sultanate, Musa, despite not being the son of his predecessor, Abubakari Keita II, was appointed deputy in his absence during a royal expedition to explore the Atlantic Ocean. Never returning, with Abubakari believed to have been lost at sea, the thirty-two-year-old Musa was crowned in his place. Inheriting the empire, among the many titles bestowed on Musa was Lord of the Mines of Wangara, with his new domain the largest producer of gold in the world.

Displaying his wealth during a flamboyant pilgrimage to Mecca in 1324, Musa journeyed to the holy city with 12,000 slaves each carrying almost two kilograms of gold bars and eighty camels carrying each three hundred pounds of gold dust. Dispersing this incalculable wealth to the poor along the route, Musa ordered and financed the construction of a new mosque upon his location each Friday during his travels. Possibly the wealthiest individual to have ever lived, Musa’s projected wealth, although difficult to calculate, is estimated to have been equivalent to around $415,000,000,000 today.

20 Of The Wealthiest Individuals Throughout History
“The Judgement of Solomon”, by Peter Paul Rubens (c. 1617). Wikimedia Commons.

1. Potentially the wealthiest man in history and the first trillionaire, according to biblical sources, King Solomon amassed a gigantic fortune during his 39-year reign as King of Israel.

Solomon, also known as Jedidiah, is a biblical King of Israel believed to have reigned between 970 and 931 BCE. The son of King David, and the third king of the United Monarchy, Solomon, per his father’s instructions, initiated his reign at the age of fifteen with a political purge to consolidate his position. Expanding his military strength, Solomon is credited with the creation of favorable trade relations with neighboring nations, in particular, the Phoenicians. Following his death, the United Monarchy quickly dissipated, with the Israelites splitting between the northern Kingdom of Israel and the southern Kingdom of Judah.

Regarded as the wealthiest of the Israelite kings that appear in the Bible, multiple stories make reference to the vast fortune of Solomon. Using this wealth to build the First Temple, treasure hunters have spent centuries attempting to relocate his horde, believed to have been lost during the Babylonian capture of Jerusalem in the 6th century BCE. According to the Book of Kings, Solomon received as much as twenty-five tons of gold in tribute in each of his thirty-nine years in power, in addition to general taxation. Using modern projections, historians have calculated that, if such claims are indeed true, Solomon would have enjoyed an equivalent net worth of $2,200,000,000,000.

 

Where do we find this stuff? Here are our sources:

“Fortune’s Children: The Fall of the House of Vanderbilt”, Arthur T. Vanderbilt II, William Morrow Publishing (1991)

“Finance and Enterprise in Early America: A Study of Stephen Girard’s Bank, 1812-1831”, Donald Adams, University of Pennsylvania Press (1978)

“John of Gaunt: The Exercise of Princely Power in Fourteenth-Century Europe”, Anthony Goodman, Longman Publishing (1992)

“The Lancastrian Affinity, 1361-1399”, Simon Walker, Clarendon Press, 1990

“The Safeguard of the Sea: A Naval History of Britain, Vol 1 1660-1649”, N.A.M. Rodger, Harper Collins (1998)

“The Rise of Modern China”, Hsu Immanuel, Oxford University Press (1990)

“John Jacob Aster: America’s First Multimillionaire”, Axel Madsen, Wiley Publishing (2001)

“John Jacob Astor and the First Great American Fortune”, Alexander Emmerich, McFarland Publishing (2013)

“William the Conqueror”, David C. Douglas, University of California Press (1964)

“The Domesday Book: England’s Heritage Then and Now”, Thomas Hinde, Coombe Books (1997)

“A Byzantine Journey”, John Ash, Tauris and Company (1995)

“William Rufus”, Frank Barlow, Yale University Press (2000)

“The History of Richmond, in the County of York”, Christopher Clarkson, Nabu Press (2011)

“The Ford Motor Company and the Third Reich”, Simon Reich, Dimensions (1999)

“Wheels for the World: Henry Ford, His Company, and a Century of Progress, Douglas G. Brinkley, Viking Adult (2003)

“Commodore: The Life of Cornelius Vanderbilt”, Edward J. Renehan Jr., Basic Books (2007)

“The First Tycoon: The Epic Life of Cornelius Vanderbilt”, T.J. Stiles, Alfred A. Knopf Publishing (2009)

“William the Conqueror: The Norman Impact Upon England”, David C. Douglas, University of California Press (1964)

“William the Conqueror”, David Bates, Tempus Publishing (2004)

“The Richest Man Who Ever Lived: The Life and Times of Jacob Fugger”, Greg Steinmetz, Simon and Schuster (2015)

“The Court of the Last Czar: Pomp and Pageantry in the Reign of Nicholas II”, Greg King, John Wiley and Sons (2006)

“John D. Rockefeller Was the Richest Person To Ever Live. Period”, Kat Eschner, Smithsonian Magazine, January 10, 2017

“He’s African! How The Richest Man Ever Earned And Lost His Huge Fortune”, By Mirror, The Saturday Standard

“Nicholas II: Emperor of All the Russians”, Dominic Lieven, Pimlico Publishing (1993)

“Andrew Carnegie: An Economic Biography”, Samuel Bostaph, Lexington Books (2015)

“Andrew Carnegie”, Joseph Frazier Wall, University of Pittsburgh Press (1989)

“The History of Standard Oil Company”, Ida Minerva Tarbell, Ayer Company (1904)

“Timbuktu: Sahara’s Fabled City of Gold”, Marq de Villiers and Shelia Hirtle, Walker and Company (2007)

“David and Solomon: In Search of the Bible’s Sacred Kings and the Roots of the Western Tradition”, Neil Asher Silberman, Free Press (2006)

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