For most of recorded human history, in fact, the lines around wealth were quite blurred. Leaders like Augustus Caesar or Emperor Shenzong had absolute control of their empires—while bankers like Jakob Fogger and Cosimo de Medici were often found pulling the strings from behind.
This infographic we created with Texas Precious Metals focuses on the richest people in history up until the Industrial Revolution, and it highlights key facts and anecdotes on how they created their wealth. While it is certainly fun to speculate on the wealth of people from centuries past, putting together this list is exceptionally difficult and certainly not definitive. Firstly, much wealth in early periods is tied to land Genghis Khan or entire empires Augustus, Akbar , which makes calculations extremely subjective.
What separates personal fortune from the riches of an empire that one has full control of? There are a wide variety of answers to these questions, and they all influence the figures chosen to be represented.
Secondly, records kept from Ancient eras are scarce, exaggerated, or based on legends and oral histories. Think of King Solomon or Mansa Musa—these are characters described as immeasurably rich, so trying to put their wealth in modern context is fun, but certainly not guaranteed to be historically accurate.
Lastly, wealth and conversion rates can be approached in different ways as well. So, enjoy this list of the wealthiest historical figures, but keep in mind that it is mostly for fun—and that the list of the richest people in history may change depending on who you ask! The average American needs their retirement savings to last them over a decade. The average American needs their retirement savings to last them 14 to 17 years.
Ultimately, it depends on where you live, since the average cost of living varies across the country. This graphic, using data compiled by GOBankingRates. With that in consideration, the above calculations could be seen as very conservative figures. That figure was then reduced to account for average Social Security income. Perhaps unsurprisingly, San Francisco, California came in as the most expensive city on the list.
According to Sperlings Best Places, housing in San Francisco is almost 6x more expensive than the national average and 3. Four of the top five most expensive cities on the list are in California, with New York City being the only outlier. If you teach United States government and would like to speak with us about bringing legislative data into your classroom, please reach out!
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