Meet the Richest People in History
As the race to become the world's first trillionaire intensifies, we may assume that astronomical wealth is a phenomenon of the modern era. However, the fortunes of some historical figures rival those of Elon Musk, Jeff Bezos, and other 21st-century billionaires, and in some cases ...
As the competition to become the world's first trillionaire intensifies, we might imagine that astronomical fortunes are a phenomenon belonging to the modern era.
However, the wealth of some historical figures equals and in some cases exceeds that of Elon Musk, Jeff Bezos and other 21st century billionaires. From 19th-century American industrialists to an African king who once owned half of the world's gold, here are the richest people in history, as estimated by economists and historians. The mentioned figures are calculated at the value of today's money, taking inflation into account. All amounts are in US dollars.
18. John Jacob Astor; Peak wealth: 156 billion dollars
John Jacob Astor, a German businessman and the first big American millionaire, was one of the first famous figures of the Astor family. He made a huge fortune by trading animal skins and established a powerful monopoly in this field in the early 19th century; So that an important part of the leather trade in the United States and Canada came under his control.
When Astor died in 1848, he had a fortune of about $25 million. However, in 2012, Forbes magazine estimated his wealth at the peak of his economic activity at around $110 billion. By adjusting this figure based on inflation until the publication of the mentioned estimate, the value of his assets reaches about 156 billion dollars.
17. Cornelius Vanderbilt; Peak wealth: 185 billion dollars
Cornelius Vanderbilt was born in 1794 to a poor family in Staten Island. During his lifetime, he rose from poverty to great wealth and built a large economic empire by operating in the shipping and railroad industries. In the last years of his life, Vanderbilt also gave away a significant part of his property.
When he died in 1877, he was considered the richest person in America and had about 105 million dollars in wealth; A figure that is comparable to the approximate value of 3 billion dollars at the time of the mentioned estimate. However, Vanderbilt's net worth at the peak of his economic activity is estimated to be around $185 billion, adjusted for equity, according to the valuation website Market Realist.
16. Henry Ford; Peak wealth: 200 billion dollars
Henry Ford, the founder of the Ford Motor Company, made this vehicle available to a large part of the people by revolutionizing the way cars were manufactured. Using mass production methods, his company achieved remarkable success and in 1920 sold more than one million cars.
Considering the extensive profitability of the Ford company and its influence on the world's automotive industry, it is not surprising that Henry Ford's fortune during the peak of his economic activity, calculated based on the value of today's money, was estimated at about 200 billion dollars.
15. Alan Rufus, 1st Lord Richmond; Peak wealth: 223 billion dollars
Alan Rufus, a nobleman from the Middle Ages, amassed a great fortune during his lifetime. An important part of his economic success was related to the patronage of William the Conqueror, the king who later became known as William I of England. William the Conqueror was a wealthy uncle and one of his closest companions, and this relationship led to a significant increase in Rufus's assets.
According to the researches of William Rubenstein, historian, Alan Rufus had a wealth of about 11 thousand pounds, equivalent to 14 thousand and 500 dollars in the historical estimate, when he died in 1093. This property was approximately equal to 7% of the UK's GDP at the time, and its equivalent value is estimated at $223 billion by today's standards.
14. William the Conqueror; Peak wealth: 230 billion dollars
William the Conqueror, the first Norman ruler of England, invaded this land in 1066 and gained enormous wealth by capturing vast territories and looting treasures from the north to the south of the country. Historians estimate the value of his property and assets to be around 230 billion dollars by today's standards.
He spent his vast wealth on expensive goods, including decorative curtains and building castles. The White Tower in the Tower of London complex is also one of the landmark buildings related to his reign.
13. Osman Ali Khan; Peak wealth: 230 billion dollars
Usman Ali Khan, Asif Jah VII, was the last ruler of Hyderabad in India who ruled this princely state with absolute power from 1911 to 1948. He was considered the richest man in the world for much of the 20th century, and estimates put his fortune at around $2 billion in the early 1940s.
According to historical estimates, Usman Ali Khan's wealth during the peak of his wealth was equivalent to about 230 billion dollars, including the value of today's money.
12. hehe Peak wealth: 270 billion dollars
Heshen, who was born in 1750, is considered one of the richest government officials in history. He was active in China during the Qing Dynasty and had great influence in the government structure due to the support and trust of the emperor. This position allowed him to abuse tax revenues on a large scale and increase his personal wealth.
After Heshen's death in 1799, it was revealed that this corrupt official had amassed about 1.1 billion taels of silver for himself. The value of this property by today's standards is approximately 270 billion dollars.
11. Muammar Gaddafi; Peak wealth: 290 billion dollars
In 2011, Libyan officials estimated that ousted leader Muammar Gaddafi had hidden about $200 billion in secret bank accounts, opaque investments and dubious real estate deals during his rule. These assets were largely derived from Libya's huge oil revenues, which the officials said Gaddafi had appropriated.
By adjusting this figure based on inflation, the value of his wealth is estimated to be around 290 billion dollars.
10. Nicholas II; Peak wealth: 348 billion dollars
Nicholas II, the last Tsar of Russia from the Romanov dynasty, ruled the Russian Empire from 1894 to 1917. During his reign, he had access to vast financial resources of the country, and this made him one of the richest kings in history.
Estimates from 1916 of the Tsar's personal wealth put his fortune at about $348 billion in today's money. Nicholas II had little desire to redistribute his wealth and a large part of these assets remained in the hands of the royal family.
9. Andrew Carnegie; Peak wealth: 375 billion dollars
Andrew Carnegie, who spent his childhood in a low-income family in Scotland, played an important role in the expansion of the American steel industry in the late 19th century. By developing his industrial and commercial activities, he became one of the richest people of his time.
According to Carnegie New York's estimate, Carnegie's wealth at the peak of his economic activity, by today's standards, was equivalent to about 375 billion dollars. He was also very committed to philanthropic activities and in the last years of his life, he gave about 90% of his wealth to charities and educational centers.
8. John D. Rockefeller; Peak wealth: 400 billion dollars
John D. Often considered the richest American in history, Rockefeller founded the Standard Oil Company in 1870. By expanding the activities of this company, he was able to control about 90% of the American oil industry and become one of the most influential economic figures in the world.
Economist Peter Bernstein has estimated the personal fortune of this industrialist, who later turned to charity activities, at nearly 400 billion dollars in today's money.
7. Jacob Foger; Peak wealth: 531 billion dollars
Jacob Foger, known as the rich Foger, was a banker, merchant and mining pioneer in Europe. He was considered the richest man in Europe in the early 16th century, and his huge wealth allowed him to influence the political developments of that time.
By financing Maximilian I, Holy Roman Emperor, as well as Charles V, King of Spain, Fugger played a role in the rise of these rulers. In 2015, Greg Steinmetz, an American journalist, estimated his wealth to be around 400 billion dollars. Adjusting this figure based on inflation, the value of Foger's assets reaches about 531 billion dollars.
6. Mansa Musa I; Peak wealth: 569 billion dollars
Mansa Musa I, the Mali emperor and ruler of Timbuktu, is considered one of the richest figures in history. He ruled a vast empire that encompassed much of today's Mali territory and had access to vast gold resources. A significant portion of the world's gold is said to have been held by his realm, and the precious metal was traded with merchants from as far afield as Venice, Genoa, and Egypt.