MoneyWeek

A West African empire built on gold

I once presented a documentary for Italian television declaring that Jakob Fugger – Fugger the Rich – was the richest man in history. He was a German who made his fortune in the 16th century through gold and copper mines, lending money to kings and popes and, above all, selling absolution.

By the time he died his net worth was equivalent to nearly 2.5% of European GDP, or half a trillion dollars in today’s money.

But, according to the internet (and we all know the internet is never wrong) there was someone

You’re reading a preview, subscribe to read more.

More from MoneyWeek

MoneyWeek2 min read
J Sainsbury Boots Its Bank
The new CEO of NatWest has made his “first big strategic bet”, says Ben Martin in The Times, with NatWest set to acquire most of Sainsbury’s banking operations. As well as receiving £125m from the supermarket to take the bank off its hands, the move
MoneyWeek2 min read
How My Tips Have Fared
It has not been a successful fortnight for my ten long tips, with six falling and only four appreciating. Investment and share-trading platform IG Group rose from 788p to 829p, while General Motors accelerated from $47.57 to $48.11. Rolls-Royce Holdi
MoneyWeek2 min readInternational Relations
How The West Went Communist
thefp.com I first argued that we are living through a second Cold War, with China as the main ideological rival to the US, back in 2018, says Niall Ferguson. That view is less controversial now than it was then. But what struck me more recently was

Related Books & Audiobooks