Mansa Musa: The man who was richer than Elon Musk back in his time
Who doesn’t know about Elon Musk? With a net worth of 138 billion US dollars, this tech entrepreneur is currently one of the richest persons on the planet according to the Forbes list of billionaires in 2022. Despite his phenomenal net worth, the 51-year-old’s money is insignificant compared to another rich person in history. We are talking about Mansa Musa, the emperor who ruled Mali, a country in West Africa during the 14th century. And how much was his net worth back then? Think about the wealth Elon Musk owns now, then add a couple hundred billion, and you will get close to Mansa Musa’s fortune in the 14th century. Economists estimate that the West African emperor possessed riches equal to almost 400 billion US dollars.
Mansa Musa (1280–1337) and his wealth
In 1312, Mansa Musa (born in 1280) ruled over the Mali empire. Mali was known to have an abundance of land, salt and gold. And Musa made most of his money by trading salt and gold. Over time, his wealth grew to such an extent that historians today think it is impossible to determine his actual wealth! So, what did he do with so much wealth? He went for a trip, but it was not just any trip. His trip was one of the most extravagant trips in history!
Musa’s extravagant pilgrimage
So, what was this trip about? In 1324, Musa set out on a pilgrimage to Mecca with 60,000 men, including servants, soldiers and followers. One would assume that his servants were dressed in rags. But no! Musa’s servants wore Persian silks and walked around with gold. The procession of camels, horses and humans led by Musa created a huge buzz in the region and his wagon was hard to miss. He bought everything he could find on this way and gave gold to passing peasants! Just imagine streets glittering with gold! That was what the streets of Cairo, Medina and Mecca looked like after Musa passed by. You’d be surprised to know that during his 3-month stay in Cairo, he spent so much gold that it damaged the local economy. But how? He did so by raising the cost of gold in the country for the following decade. He bought so much gold that there was a shortage in Cairo, eventually escalating the cost of gold. This is how Musa’s journey to Mecca added to his historical legacy!
How else did he spend his money?
So, besides handing out gold to peasants and purchasing gifts, what did Mansa Musa do with all the money? He eventually used most of it to construct mosques, the most notable of which is the Djinguereber Mosque in Timbuktu, Mali! He also established several universities and schools across the kingdom of Mali, strengthening major cultural sites like Timbuktu. Seven hundred years later, many of these historic structures, including the mosques and the schools, are still standing tall!
Furthermore, he greatly expanded his trading and rose to become one of the most powerful rulers of his day and possibly of all times. By the end of his rule, Musa added Senegal, Gambia, Guinea, Niger, Nigeria, Chad and Mauritania to his empire. He passed away in 1332, leaving the throne to his son.
Genghis Khan, John Rockefeller and other rich people in history
Other notably wealthy individuals in history include:
- Empress Wu (624–705) of China had wealth corresponding to around 23% of the world’s GDP, which is almost 16 trillion US dollars!
- The Mongol emperor Genghis Khan (1162–1227) was worth approximately 120 trillion US dollars.
- John D. Rockefeller (1839–1937), an American businessman, philanthropist and founder of the Standard Oil Company (1870), built up a fortune estimated to be worth over 340 billion US dollars.