The Richest Men in History
FaithFi | Oct 6, 2020
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Show Notes
America is often described as the wealthiest nation ever, and rightly so. But we haven’t produced the wealthiest men in history, not by a long shot. Over the millennia, some individuals have amassed jaw-dropping amounts of wealth. But whatever became of their vast holdings? Kingdom Advisors President Rob West has the answers on this MoneyWise.
- According to Forbes, Jeff Bezos, the founder of Amazon, is the richest guy in the world today worth about 176 billion dollars. We tend to think that the richest people ever are those around today but that’s not the case. Jeff Bezos wouldn’t come close to the two wealthiest people of all time. Who are these two individuals and how much were they worth?
- The first was Mansa Musa. Not a household name, but he was the Islamic ruler of the Malian Empire in West Africa. In 1324, he made a pilgrimage to Mecca with an entourage of 60,000 people. On that trip, Mansa Musa gave away so much gold that it caused hyperinflation throughout the Middle East. So no individual today, no matter how wealthy, could come close to disrupting the economies of an entire region that way.
- Second was Atahualpa. The Incas essentially had no economy at all. The emperor owned everything—from your house to the shoes on your feet. You worked for him and he rewarded you with what he determined you needed. No wonder he was wealthy. But all that came to an abrupt halt when the Spanish conquistadors invaded and took the emperor captive in 1533. Atahualpa paid a ransom said to be an entire room full of gold worth $230 million, which, as it turned out, was only pocket change to him.
- Is there a moral to these stories? Yes, and we find it in Mark 8, where Jesus says, “For what does it profit a man to gain the whole world and forfeit his soul? For what can a man give in return for his soul?” Now we can ask the question, whatever became of all that wealth? Absolutely nothing. If it didn’t advance the gospel, of what value was it? In my view, none at all.
On this program we also answer your questions:
- ˜Can lowering the credit limit on my credit card hurt my credit score?
- I have a small amount in my 403(b) plan. What’s the best thing to do with this?
- How good is a Roth IRA?
