The Richest Man Who Ever Lived; The Life and Times of Jacob Fugger. Mark Steinmetz
I watched the interesting YouTube on Jakob Fugger. I’ve always wondered why Kings repay their creditors and I see Fugger arranged to minimize that risk.
Compare this with Aaron of Lincoln, the richest 12th-century financier in England, whose fortune, as a Jew, was forfeited to the Crown upon his death.
I asked a question tangentially related to this a couple of months ago:
Solomon’s Gold - and any ancient gold by extension…
It’s still not clear to me how much total mined gold we should reasonably expect to find at various historical time points.
Are we adjusting for relative wealth to the era of its time? That would be hard. King Solomon’s 666 talents of gold, for instance, would be worth only around $1.3 billion today, but perhaps much more back then.
Thank you!
The BBC radio 4 program “more or less” takes a critical view of statistical claims in the news and did have a take on the Mansa Musa claims.
the richest person on earth is “he who gives up what he cannot keep, to gain what he cannot lose.”
An automobile, or a case of nylon stockings, or even a small supply of penicillin would have been priceless just a few centuries ago. Therefore “wealth as a percentage of world economy” might be the only reasonable basis for comparison.
I think the Fugger Youtube claimed he had 2% of Europe’s wealth! (I don’t recall if that was 2% of wealth or 2% of annual production; in a labor-driven economy the two measures might be very close.)
[quote="septimus, post:22, topic:848975"]
I watched the interesting YouTube on Jakob Fugger. I've always wondered why Kings repay their creditors and I see Fugger arranged to minimize that risk.
Compare this with Aaron of Lincoln, the richest 12th-century financier in England, whose fortune, as a Jew, was forfeited to the Crown upon his death.
[/QUOTE]
I neglected to mention that, while King Henry II's debts were "forgiven" on Aaron's death, the rest of Aaron's accounts receivable were not forgiven — they remained payable but to ... Henry II! The King even demanded repayment of loans Aaron had already forgiven.
[spoiler](This reminds me of events following a recent usurer's murder where I live.)[/spoiler]Given the caveats noted above on making a sensible estimate, the case for Scrooge McDuck is about as reliable and convincing as those for Solomon and Musa 1. His wealth is variously described as:
*“one multiplujillion, nine obsquatumatillion, six hundred twenty-three dollars and sixty-two cents” - making him the second richest duck
“607 tillion 386 zillion 947 trillion 522 billion dollars and 36 cents”
“five multiplujillion, nine impossibidillion, seven fantastica trillion dollars and sixteen cents”.*
That be a shitload of money, pardner! If it’s all in gold coins, then Q: What does it weigh? A: It weighs a shitload.
I see a problem with “wealth” and the “money = power” relation. Let’s say I discover my few forested mountain acres contain a vast vertical deposit of unobtanium with a market value of umpty-ump-gazillion gigabucks. I’m now extremely wealthy. But until I expend resources to extract and sell some treasure, I have no money, no power. Whereas my cousin has very few material possessions but holds financial instruments considered quite valuable. Waving a paper in someone’s face induces them to rob, torture, kill, subvert at her command. My wealth is NOTHING compared to her power.
Do we measure wealth in gold and gems, or in power available to be wielded?