Latest news with #MansaMusa
Economic Times
4 days ago
- Business
- Economic Times
How the richest man in history built his Rs 11,468,980,000,000 fortune
Synopsis Mansa Musa, the 14th-century ruler of the Mali Empire, amassed immense wealth through gold and salt resources, controlling a vast territory. His pilgrimage to Mecca caused economic disruption in Egypt due to his lavish gold spending. Musa transformed Timbuktu into a renowned center of learning, attracting scholars and fostering architectural advancements before the empire's eventual decline after his death. Image generated using AI Mansa Musa, the 14th-century ruler of the Mali Empire, is often described as the richest person who has ever lived. As reported in TOI, his fortune has been estimated at around $131 billion (£99 billion) in modern terms, making him wealthier than any billionaire alive Musa was born in 1280 into a family of rulers. His brother, Mansa Abu-Bakr, ruled until 1312. As quoted in TOI, Abu-Bakr had a deep interest in the Atlantic Ocean and set off on an expedition with 2,000 ships carrying thousands of men, women, and slaves. They never returned, and their fate remains a mystery. Some historians, such as Ivan Van Sertima, have suggested that they may have reached South America, though there is no firm evidence. After Abu-Bakr vanished, Mansa Musa inherited the throne. As reported in TOI, he expanded the empire to include 24 cities, including Timbuktu, stretching over 2,000 miles and covering parts of Senegal, Mauritania, Mali, Burkina Faso, Niger, The Gambia, Guinea-Bissau, Guinea, and Ivory Coast. As reported in TOI, the Mali Empire under Mansa Musa controlled huge gold and salt resources. It is said the empire produced nearly half of all the gold in the Old World. Trade routes across West Africa brought even more wealth. In today's currency, US-based estimates place his fortune between $400 billion and $500 1324, Mansa Musa made his famous pilgrimage to Mecca, passing through Cairo, Egypt with a massive caravan. As reported in TOI, his entourage included tens of thousands of people and hundreds of camels carrying gold. He stayed in Cairo for three months, giving away so much gold that its value dropped sharply, triggering a ten-year economic downturn in Egypt and across the Middle East. According to US-based studies quoted in TOI, the sudden fall in gold prices caused an estimated $1.5 billion (£1.1 billion) in losses due to gold devaluation. Some accounts say Mansa Musa later borrowed gold back at high interest to try and fix the problem. Others claim his generosity left him short of gold. Lucy Duran, from the School of African and Oriental Studies in London, has noted, as quoted in TOI, that Mali's own griots (oral historians) criticised him for damaging the empire's standing. During his reign, Mansa Musa spent heavily on the arts and education. As reported in TOI, he once paid a poet 200 kilograms of gold (worth $8.2 million today). He built schools, libraries, and mosques, turning Timbuktu into a world-famous learning centre. Scholars came from across the Islamic world, including Mecca, Medina, and Andalusia. On his return from pilgrimage, Mansa Musa brought with him many Islamic scholars, including descendants of the Prophet Muhammad, and the Andalusian poet-architect Abu Es Haq es Saheli. Abu Es Haq designed the Djinguereber Mosque, still a landmark in Timbuktu today. Sankore University in Timbuktu flourished, attracting students from far and wide. As reported in TOI, centuries later the city was seen in Europe as a legendary 'lost city of gold', attracting explorers and fortune hunters. Mansa Musa died in 1337 at the age of 57. As reported in TOI, his sons could not keep the empire united. Smaller states broke away, and the arrival of Europeans in West Africa sped up its Musa's generosity had made Mali famous worldwide. A 1375 Catalan Atlas map shows an African king, believed to be Mansa Musa, sitting on a golden throne in Timbuktu, holding a piece of gold. Inputs from TOI
Time of India
4 days ago
- Business
- Time of India
How the richest man in history built his Rs 11,468,980,000,000 fortune
Mansa Musa , the 14th-century ruler of the Mali Empire , is often described as the richest person who has ever lived. As reported in TOI, his fortune has been estimated at around $131 billion (£99 billion) in modern terms, making him wealthier than any billionaire alive today. Mansa Musa was born in 1280 into a family of rulers. His brother, Mansa Abu-Bakr, ruled until 1312. As quoted in TOI, Abu-Bakr had a deep interest in the Atlantic Ocean and set off on an expedition with 2,000 ships carrying thousands of men, women, and slaves. They never returned, and their fate remains a mystery. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program Some historians, such as Ivan Van Sertima, have suggested that they may have reached South America, though there is no firm evidence. After Abu-Bakr vanished, Mansa Musa inherited the throne. As reported in TOI, he expanded the empire to include 24 cities, including Timbuktu , stretching over 2,000 miles and covering parts of Senegal, Mauritania, Mali, Burkina Faso , Niger, The Gambia, Guinea-Bissau, Guinea, and Ivory Coast. Mansa Musa's Golden Empire As reported in TOI, the Mali Empire under Mansa Musa controlled huge gold and salt resources. It is said the empire produced nearly half of all the gold in the Old World. Trade routes across West Africa brought even more wealth. In today's currency, US-based estimates place his fortune between $400 billion and $500 billion. The Cairo Visit That Changed an Economy In 1324, Mansa Musa made his famous pilgrimage to Mecca , passing through Cairo, Egypt with a massive caravan. As reported in TOI, his entourage included tens of thousands of people and hundreds of camels carrying gold. He stayed in Cairo for three months, giving away so much gold that its value dropped sharply, triggering a ten-year economic downturn in Egypt and across the Middle East. Live Events According to US-based studies quoted in TOI, the sudden fall in gold prices caused an estimated $1.5 billion (£1.1 billion) in losses due to gold devaluation. Some accounts say Mansa Musa later borrowed gold back at high interest to try and fix the problem. Others claim his generosity left him short of gold. Lucy Duran, from the School of African and Oriental Studies in London, has noted, as quoted in TOI, that Mali's own griots (oral historians) criticised him for damaging the empire's standing. Timbuktu: A World Centre of Learning During his reign, Mansa Musa spent heavily on the arts and education. As reported in TOI, he once paid a poet 200 kilograms of gold (worth $8.2 million today). He built schools, libraries, and mosques, turning Timbuktu into a world-famous learning centre. Scholars came from across the Islamic world, including Mecca, Medina, and Andalusia. On his return from pilgrimage, Mansa Musa brought with him many Islamic scholars, including descendants of the Prophet Muhammad, and the Andalusian poet-architect Abu Es Haq es Saheli. Abu Es Haq designed the Djinguereber Mosque , still a landmark in Timbuktu today. Sankore University in Timbuktu flourished, attracting students from far and wide. As reported in TOI, centuries later the city was seen in Europe as a legendary 'lost city of gold', attracting explorers and fortune hunters. The Empire's Decline Mansa Musa died in 1337 at the age of 57. As reported in TOI, his sons could not keep the empire united. Smaller states broke away, and the arrival of Europeans in West Africa sped up its collapse. Mansa Musa's generosity had made Mali famous worldwide. A 1375 Catalan Atlas map shows an African king, believed to be Mansa Musa, sitting on a golden throne in Timbuktu, holding a piece of gold. Inputs from TOI
India.com
21-06-2025
- Business
- India.com
World's richest man ever existed on Earth was much wealthier than Mukesh Ambani, Adani, Musk, Ratan Tata, Gates combines; his name was…, travelled Mecca with gold worth…
While today's billionaires are breaking records, none have ever compared to the unimaginable wealth of Mansa Musa, a 14th-century king of the Mali Empire. He is known by most historians as 'the richest man of all time,' whose wealth would be about $500 billion (₹43.7 trillion) when calculated to current value. The only reason his wealth can even be estimated is that it was so vast and widespread that most historians believe there were no means of calculating it accurately. This makes him a financial imperishable legend, one that we won't come close to in the modern-day world of billionaires. Mansa Musa ruled the Mali Empire between the years 1312 and 1337 CE. Under his reign, the Mali Empire attained perhaps its greatest fortune, becoming one of the wealthiest times and places in Africa. His wealth came in large part from the abundant gold and salt mines Mali possessed at this time. Mali was one of the world's primary sources gold at the time. As of that time, Mansa Musa also derived riches through the trade of ivory, slaves and any other valuable item he could sell; he built his empire to be one of the powers of Medieval world economy.' Mansa Musa's enormous wealth was not the only reason for his legendary status—it was how he expressed that wealth that excited the world. In 1324, he undertook a famous pilgrimage to Mecca that would become a significant historical moment. From the accounts of him in the pamphlets that came to be written, Mansa Musa embarked on his pilgrimage with thousands of people of his royal entourage—people such as servants, soldiers, and in addition he brought with him dozens of camels, each laden with gold of about 136 kg. As he passed through cities like Cairo, he gave away enough gold as a donation to cause inflation in the cities and disrupted the economy for years. Mansa Musa's fame quickly spread, especially to the courts of kingdoms in Europe and Asia. Kings and emperors all over the world were eager to be in his good graces and wanted have an opportunity to receive a share of his wealth and massive generosity. Indeed, even after he died in 1337, stories would echo their way across continents of Mansa Musa, as the one of the richest men in the world.
India.com
07-06-2025
- Business
- India.com
World's richest Muslim ever was much wealthier than Mukesh Ambani, Elon Musk, Adani, Tata, went to Mecca with gold worth…, name was...
World's richest Muslim ever was much wealthier than Mukesh Ambani, Elon Musk, Adani, Tata, went to Mecca with gold worth…, name was... With a net worth of Rs $335B, Elon Musk is the richest person according to the Bloomberg Billionaires Index. This net worth, however, stands in abject comparison with the wealth of a historical figure. Did you know that history speaks of someone whose wealth outshines even today's richest figures like Mukesh Ambani, Elon Musk, Adani, and Tata? Well, the individual was Mansa Musa, the 14th-century emperor of the Mali Empire in West Africa, widely regarded as the richest person to have ever lived. Born in 1280 AD and crowned king in 1312 AD, he is considered to be the richest man to have ever lived. If his net worth is adjusted for inflation, it would be a mind-boggling $400 billion, dwarfing the wealth of today's top billionaires. Mansa Musa's reign made the Mali Empire a cultural and economic behemoth, covering present-day Mali, Senegal, Ivory Coast, and Burkina Faso. The empire was abundant in natural resources, with gold and salt deposits in regions such as Bambuk, Bure, and Wangara creating immense riches. Mali's prime location on the trans-Saharan trade routes established it as a vital commercial nexus, linking Africa with Europe and the Middle East. Mansa Musa's famous pilgrimage to Mecca was so lavish that it caused significant economic disruptions, including inflation, in the areas he traveled through. Lucy Duran, a researcher from the School of African and Oriental Studies in London, emphasizes that Musa's generosity forms a fundamental part of his legacy, showcasing his unwavering commitment to distributing his wealth and aiding others on an extraordinary scale. Mansa Musa was renowned not just for his vast wealth but also for his remarkable generosity. One of the most extraordinary events in his life was his legendary pilgrimage to Mecca, considered one of the most lavish journeys ever recorded. His caravan was unmatched in scale, featuring 100 camels carrying gold, 12,000 attendants, and a procession of 60,000 enslaved people. Historical records estimate that he carried around 18 tonnes of gold—an astonishing amount worth nearly $957 million in 2022. This pilgrimage showcased Musa's incredible riches and firmly established his status as a figure of global importance. As Mansa Musa journeyed through cities like Cairo, his extravagant distribution of gold poured immense wealth into the local economy. However, this sudden surge in currency supply led to unforeseen consequences—triggering inflation and a short-term drop in the value of gold. While his generosity was widely admired, it also underscored the overwhelming magnitude of his fortune and the profound economic ripple effects it created. He is often considered the richest person to have ever lived. It is reported that his wealth surpasses even the richest individuals of today, such as Mukesh Ambani, Elon Musk, Adani, and Tata.
Daily Maverick
25-05-2025
- Politics
- Daily Maverick
Secret to turning Africa into the land of gold and honey it once was
During US President Donald Trump's recent tour of the Gulf States – Saudi Arabia, Qatar and the United Arab Emirates (UAE) – I was reminded of two legendary African figures, Prester John and Mansa Musa. While Prester John was a fictitious character from medieval Europe, imagined as a powerful Christian king in Ethiopia, Mansa Musa was a real historical figure – the actual ruler of the Kingdom of Mali in the 14th century –known for his immense wealth. The land of Prester John, believed to be in present-day Ethiopia, was described in glowing terms in a 14th-century map: 'In the woods of this Abassia, there is such a great quantity of honey that they do not bother to collect it. When winter arrives and the heavy rains wash these trees, the honey flows into nearby lakes, and, thanks to the sun's warmth, that water becomes like wine, which the people of the area drink instead of wine.' An inscription on an unrelated 14th-century map depicting Mansa Musa echoed this sentiment: 'This Black Lord is called Musse Melly and is the sovereign of the land of the black people of Gineva (Ghana). This king is the richest and noblest of all these lands due to the abundance of gold extracted from his territory.' These descriptions illustrate how Africa was perceived by the world in the 14th century. In stark contrast to today, where the continent is viewed as one of backwardness and underdevelopment – associated with wars, poverty – the real Third World. What has happened to the Abyssinia of Prester John? Where is the Mali of Mansa Musa? Where is the honey flowing in the rivers of Abyssinia? Where is the gold of Mali? Countries in Asia, including the Gulf states, that have experienced a history similar to ours have demonstrated that it is possible for a nation to overcome underdevelopment. If approached correctly, this goal can be achieved within a generation, specifically within a span of 30 years. History provides valuable lessons to learn from, but it should not become a prison where you confine yourself like a caged bird, spending your days, years and decades lamenting your situation and dwelling on the wrongs that others have committed against you. Our friends in Asia have challenged four political economy assumptions that have constrained our thinking in Africa since independence. First, the belief that we cannot overcome our colonial inheritance; that our neocolonial and dependent condition is permanent, leaving us doomed forever. Second, the notion that no country can prosper and become an economic heavyweight without exploiting others. Third, the idea that a country cannot escape its colonial legacy without significant financial support from an external benefactor. Finally, the misconception that natural resources are a curse rather than a blessing; that they will bring wars, political instability and a cycle of coups – a belief that these resources will never truly belong to us but to foreigners. We often attribute Africa's lack of progress since independence to several factors, many of which also apply to Asia. These factors include neocolonialism and the influence of former colonisers, civil wars, the impact of the Cold War and colonial partition. The only significant difference is the Atlantic slave trade, which affected our continent but not Asia. The three Gulf States are unlikely candidates for success. They lack the regime types that Africa has been taught since independence are necessary for development. Additionally, they inherited a desert at the time of independence and do not have a manufacturing powerhouse like China. They also lack the military strength of Russia and the large population sizes of Brazil, India or China. If they were to take an exam based on the textbook lessons Africa received since independence regarding development, they would fail miserably. Africa has been lectured on the dos and don'ts of becoming a prosperous continent. We were given prescriptions complete with indices, scorecards, and key performance indicators to guide us in creating successful nations. Our mentors came from outside our continent. This experiment has failed. The Gulf States demonstrate that there is no magic wand to wave to achieve development, complete with roads and skyscrapers. There is no secret recipe known only to a select few that is passed down through generations. There is no hidden door leading to a wonderland like something out of a Hollywood movie. The answers to what a nation should do to prosper have always been in plain sight, right before our eyes. The answer is: there's no better path to development and prosperity than the one that you must choose yourself. Your mentor is not a development expert from overseas with spectacles, carrying a laptop, but the lessons you must draw from history. Your textbook is in the pages of what history has taught you. Your prescription is simple: be authentic. Trust yourself. Listen to your inner voice. Let's take the example of the UAE, our favourite shopping destination. When the country gained its independence from Britain in 1971, it had no infrastructure, just the surrounding desert. There was little vegetation, and the climate was characterised by scorching heat. The economy relied primarily on date farming and diving for pearls. At that time, the most dependable mode of transport was the camel. In 1971, when the UAE became independent, most African countries had already achieved theirs, except for Portuguese colonies and a few nations in Southern Africa. This included all of North Africa and all former French colonies. Central Africa, comprising the Democratic Republic of Congo (DRC), Rwanda, Burundi and the Central African Republic, was also independent, as was Sudan. Many of these countries were better endowed by nature than the UAE, which primarily benefited from its oil reserves. Africa Month The question that should concern us as Africans this Africa Month in 2025 is why a country like Sudan, which is 15 years older than the UAE, is still at war 69 years after its independence. Similarly, why is the DRC, 10 years older than the UAE, still facing conflict 60 years after gaining independence? It cannot be solely owing to natural resources, as the UAE has its oil. It also cannot be attributed to Western powers, because no Westerner is holding a gun on the streets of Goma or Khartoum, shooting at our people. It is us who are killing each other. The gap between Africa and the three Gulf States has widened since independence, particularly over the past 30 years. It could widen even further unless Africa acts quickly. No African country has a trillion-dollar economy like Saudi Arabia, and none is in the top 10 globally. The largest economies are the US, China, Germany, Japan, India, the UK, France, Italy, Canada and Brazil, representing the Americas, Asia and Europe, but not Africa. CNN reported in the build-up to Trump's Middle East tour: 'In March, the UAE announced a $1.4-trillion investment plan [in the US] over 10 years focused on AI, semiconductors, manufacturing and energy. Its existing US investments already total $1-trillion, according to its embassy in Washington.' No African country can match this. In 2024, Africa's total gross domestic product (GDP) was estimated to be $2.8-trillion, representing the combined economic output of 1.4 billion people across its 54 countries. The combined GDP of Saudi Arabia, Qatar, and the UAE is projected to be about $2.06-trillion by 2025, with a total population of about 47.3 million. To put this into perspective, these three countries, with a population of about 48 million, generate a GDP of more than $2-trillion. In contrast, Africa, with 1.4 billion people spread across 54 countries, produces a GDP of only $2.8-trillion. Our race as black people is not the cause of our challenges. The two regions that have struggled after gaining independence are Latin America (descended from Spanish and Portuguese settlers) and Africa. It took Latin Americans more than 100 years after their independence to organise their countries effectively. In Africa, we are approaching 70 years since independence. One obstacle to the success of Latin America was the destructive interstate and intrastate wars fought among Spanish American nationalists. We Africans have three problems. We don't believe in our agency. We are victims of continuous negative self-talk – a favourite pastime of some celebrity public intellectuals. And we are the ones who give Africa a bad name. We have conditioned our subconscious to believe that we lack agency, viewing ourselves as mere victims of history, subject to the whims of powerful countries and the actions of influential transnational non-state actors. However, our friends in Asia have demonstrated that, regardless of colonial legacies, individuals and nations possess agency. The key question is: what do you do with that agency? Despite any neocolonial structures or geopolitical constraints that may hold you back, there is still room for manoeuvre. How can you best use it? Our leaders have their agency but some of them use it differently: sometimes to resolve political differences with their adversaries through military means. Understanding the principle emphasised by top-performing athletes is valuable: a game is not only won on the field but also in the mindset. A negative mindset often leads to persistent negative self-talk, a pattern we frequently master. Afro-pessimism is one example of this negative self-talk. If you want to hear negative perspectives about Africa, just spend time with some Africans. Our mindset, the names we use for ourselves and the negative things we say shape who we become. A few factors can significantly affect countries. First, having a strong sense of history and a connection to historical continuity is crucial. Second, embracing ideas as a foundation for society's success and prosperity, along with a clear development philosophy, is essential. Third, the importance of strong institutions cannot be overstated. Finally, there should be an emphasis on excellence; practising meritocracy and striving for excellence in all endeavours is vital. Finally, pay attention to leadership – the secret ingredient to the success of Asia. Leadership isn't about how leaders are dressed, but rather about their posture towards society. When we examine leadership, we often focus too narrowly on its form and characteristics, overlooking two key components: 1. What leaders do when they hold state power, regardless of how they obtained that position – whether through election, heredity or a coup. Do they invest in building schools or do they misuse state resources for personal gain or to settle scores with their enemies? 2. How they relate to society and their own people. Do they oppress their citizens, look down on them, or do they serve them? Do they boast and show off that 'I have arrived'? DM
