Who is the richest man in history? If you guessed Jeff Bezos (Amazon.com founder, $131 billion), Andrew Carnegie (American steel industry, $372 billion), or John D. Rockefeller (US oil industry, $341 billion), you are not far off.
But the richest man in all history was actually Mansa Musa, a 14th Century West African ruler whose wealth was incalculable (greater than $400 billion).
The kingdom of Mali flourished, annexing 24 cities, including Timbuktu, and covering about 2,000 miles from the Atlantic Ocean all the way to nine large modern-day African countries. The large land mass contained lots of gold – in fact, the empire of Mali had almost half of the Old World’s gold.
Mansa was very generous, and in wanting to do good, gave large handouts of gold to poor people, which had an unintended and unforeseen consequence – it crashed the economy of Cairo, and of the entire country of Egypt!
The Cairo gold crash caused the prices of gold to fall continuously in the region for ten years, wrecking Egypt’s economy and causing about $1.5 billion of economic losses in the Middle East.
He tried to solve the economic crash by borrowing back the gold at very high black market interest rates from Egyptian lenders. His aim was to stabilize gold prices by removing some of them from circulation.
From early on in history, we see that bailing out failed endeavors is more costly than the initial loss, and has greater and far-reaching consequences than originally intended.
The collapse of the US housing bubble led to the 2008 bailout of Wall Street investment banks by the US Treasury, costing $700 billion, which was a very high price to pay to prevent a bigger crash.
Our company will pour a lot of money to the terminal renovation. The renovation will start this June and will ended at 2025. In the renovation construction, it is a lot of not expected things happen and usually throw more many money is poured. But the construction this time, we will manage the project not to use extra money.
I would keep the money which is enough for my comfortable life and rest of them that I will donate or use for philanthropy. I think the extra money for my comfortable life, it is no use for me if I have. So, I want to use them for helping people in trouble.
I have never helped a family member or friend financially. That because I have had no need to do such a things. But I think that I want to help my sons with financially as much as possible.
I think I’m not the person who waste a lot first of place. But when I was drinking, I had a sometime to drunk too much. It would be applicable for me that I stopped drinking because the result of disease.
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