Who were the richest people before Bill Gates, and what did they do, how long did they do it, and how long were they in the top 1?

Updated on : January 17, 2022 by Dwayne Rivas



Who were the richest people before Bill Gates, and what did they do, how long did they do it, and how long were they in the top 1?

In the Renaissance, Lorenzo de Medici was a merchant without exception. His sons would enter royalty or become cardinals or pope. By 1700, the Rothschild family expanded their empires.

The Industrial Revolution brought in railroad kings and robber barons. JP Morgan, Andrew Carnagie, John Rockefeller. In shipping, there was Aristotle Onassis.

With the age of technology, obviously the tech titans: Jobs, Gates.

In all industries, the legal framework (or the absence of it) allowed people to get rich simply by being in the right industry at the right time. This was true in the beginning and is still true today.

The 6 richest people in the world before the arrival of Bill gates to the competition and the rest is history.

1: Mansa Musa I - $ 400 billion

Mansa Musa I from Mali is the richest human being in history with a personal net worth of $ 400 billion! Mansa Musa lived between 1280 and 1337 and ruled the Mali Empire, which covered present-day Ghana, Timbuktu, and Mali in West Africa. Mansa Musa's astonishing wealth came from his country's vast production of more than half of the world's supply of salt and gold. Musa used his wealth to build immense mosques that still stand today, almost 700 years later. His kingdom

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The 6 richest people in the world before the arrival of Bill gates to the competition and the rest is history.

1: Mansa Musa I - $ 400 billion

Mansa Musa I from Mali is the richest human being in history with a personal net worth of $ 400 billion! Mansa Musa lived between 1280 and 1337 and ruled the Mali Empire, which covered present-day Ghana, Timbuktu, and Mali in West Africa. Mansa Musa's astonishing wealth came from his country's vast production of more than half of the world's supply of salt and gold. Musa used his wealth to build immense mosques that still stand today, almost 700 years later. His kingdom and wealth did not last much longer after his death. His heirs could not defend themselves from the civil war and the invading conquerors. Just two generations later, his world record net worth was gone.

2 The Rothschild Family - $ 350 Billion

The Rothschild family are the richest people in the world today with assets totaling at least $ 350 billion. Their net worth is difficult to determine because their holdings are so vast, but they are undoubtedly the most powerful family in the world. Many people believe they control more than $ 1 trillion in real estate and banking assets alone.

3 John D. Rockefeller - $ 340 billion

John D. Rockefeller is the richest American who ever lived. At the time of his death in 1937, Rockefeller was worth the equivalent of $ 340 billion in today's dollars. His company Standard Oil dominated the production of American Oil and was eventually dissolved by the United States government as a monopoly. Standard Oil split into smaller companies that you probably recognize today: Amoco, Chevron Conoco, and ExxonMobil. Rockefeller was the first American to have a net worth of more than $ 1 billion.

4 Andrew Carnegie - $ 310 billion

Andrew Carnegie made his great fortune when he sold his Carnegie Steel Company to JP Morgan for $ 480 million in 1901. That equates to a maximum net worth equivalent to $ 310 billion in modern dollars. When he sold his company to JP Morgan, Carnegie took home $ 230 million in gold bonds and received a 5% annual coupon to top it off. The bonds were deposited in a New Jersey bank that Carnegie never visited. After selling his company, Carnegie retired from business life and devoted his time to charity. He donated most of his fortune during his lifetime and his last $ 30 million was donated after his death. Many universities and foundations still bear his name today.

5 Nikolai Alexandrovich Romanov - $ 300 billion

Nikolai Alexandrovich Romanov, also known as Tsar Nicholas II of Russia, ruled the Russian Empire from 1894 to 1917 when Bolshevik revolutionaries overthrew and murdered him and his family. In 1916, Tsar Nicholas II's net worth was nearly $ 900 million, which is adjusted inflation equivalent to $ 300 billion in 2012 dollars. $ 300 billion makes him the fifth richest person in history and, Since the Russian Orthodox canonize him, he is the richest saint in the history of mankind.

6 Mir Osman Ali Khan - $ 230 billion

Mir Osman Ali Khan, also known as the Nizam of Hyderabad, was the ruler of Hyderabad until the country was invaded by neighboring India. Mir Osman Ali Khan had a personal collection of gold that was worth more than $ 100 million and he owned more than $ 400 million in jewelry, including the famous Jacob Diamond, which is currently worth $ 95 million. Khan used the diamond as a paperweight in his office. He allegedly owned more than 50 Rolls Royces.

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It is difficult to answer this question with any precision.

The reason is simple, NONE of us have had the experience of working towards the amount that Bill has earned. As a result, we would not have the knowledge of the best way to use the money he earns or to be responsible for it. As I write this my job is to work in a call center for around £ 10 an hour. As a result, I was able to say what I would like to do with that amount of money, but unless I had been through Bill's journey, I couldn't really say what I would do.

With this in mind, this is what I would do. All that Bi

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It is difficult to answer this question with any precision.

The reason is simple, NONE of us have had the experience of working towards the amount that Bill has earned. As a result, we would not have the knowledge of the best way to use the money he earns or to be responsible for it. As I write this my job is to work in a call center for around £ 10 an hour. As a result, I was able to say what I would like to do with that amount of money, but unless I had been through Bill's journey, I couldn't really say what I would do.

With this in mind, this is what I would do. Everything Bill has done BUT investing in more arts and local charities in the UK (since I'm British) AND giving more to the open source community.

The reasons you would do exactly what Bill Gates has done is because you have created several different charities that have allowed you to get a lot of work done. By creating the foundation you have, you have been able to advance numerous projections, such as www..malariacontrol.net, which helps develop ways to control and contain malaria and find a solution for it. By disseminating ways to alleviate problems in the third world, it enables a multi-solution approach to address these problems. Bill has also created the charity that many millionaires have declared that they would give their millions after their death. Think of the amount of poverty this will deal with!

II would create much more for open source because it would allow further development. By allowing more technology to come to light, more people will be able to develop it in unthinkable ways. Think about it, many of the Third World problems are being solved with open technology that we can all help with! It would be great!

Bill Gates' refusal to take venture capital was how he accidentally became the richest man in the world.

It is certainly true that most internet company founders now trade stocks for venture capital investments. Cash allows them to build substantial businesses before they start worrying about being profitable. Google, Facebook, and Twitter did. The downside is that when they go public to pay their investors back, the founders may not have much left. Facebook's Mark Zuckerberg was right to emerge with 28 percent, but it could have been 15 percent or even less.

After Microsoft went public,

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Bill Gates' refusal to take venture capital was how he accidentally became the richest man in the world.

It is certainly true that most internet company founders now trade stocks for venture capital investments. Cash allows them to build substantial businesses before they start worrying about being profitable. Google, Facebook, and Twitter did. The downside is that when they go public to pay their investors back, the founders may not have much left. Facebook's Mark Zuckerberg was right to emerge with 28 percent, but it could have been 15 percent or even less.

After Microsoft went public 30 years ago this month, Bill Gates still owned 45 percent of the company. If only he had kept his stake, Gates would be worth $ 193 billion today, instead of a measly $ 81 billion.

The main point is that Gates became the richest man in the world because that was not his intention. It refused to take venture capital to expand faster and tried to avoid going public even after rivals such as Lotus Development and Ashton-Tate proved it was a fast route to large piles of cash.

Of course, Microsoft was still a small company back then (turnover in 1985 was $ 140 million), and when Microsoft's stock opened at $ 21, Gates only got $ 1.6 million for the shares it had. sold. (Very sensibly, he paid his mortgage.) Even after the stock settled at $ 31.25, Gates' paper fortune was just $ 350 million, which is roughly what Twitter spent on MoPub.

Photo: Forune magazine

So the real reason Gates became absurdly rich was that the value of each Microsoft share increased by about 60,000 percent. Most of that growth was driven by the success of Windows 95 and Microsoft Office, and by the Internet-inspired dot-com bubble. It didn't last long: Microsoft was found guilty in antitrust courts and the dot-com bubble burst, though stocks are now approaching their all-time high.

Microsoft's stock price grew rapidly after the launch of Windows 95 and peaked with the dot-com bubble.

Gates is not as rich as he could be because, after the antitrust case, he began to withdraw from Microsoft. He resigned as CEO in January 2000, began working part-time in 2006, and stopped working in 2008, although he remained president until 2014. He also sold nearly all of his Microsoft shares: Gates now owns less than 3 percent and is It is no longer the largest individual shareholder. That honor goes to Steve Ballmer.

Gates had a long career as the world's richest man, from 1995 to 2007, before turning to good works. What's perhaps more surprising is that even after donating $ 28-38 billion to the charitable foundation he runs with his wife Melinda, Gates' wealth has doubled to put him back on top.

According to the Wall Street Journal, most of the credit should go to "Gates's secret money manager, Michael Larson." He has been managing the Gates estate, through Cascade Investment LLC, for more than 20 years. (See: This is the man who is making Bill Gates so rich).

It would be reasonable to assume that someone who became so absurdly rich must have been driven by a lust for money. That was never the case with Gates. In fact, he often wished he were not the richest man in the world, due to the attention and envy he attracted. After all, he's a software fanatic with modest hobbies: mainly playing bridge with Warren Buffett and reading books.

As he told the students at the University of Washington: "I can understand that the desire to have millions of dollars, there is a certain freedom, a significant freedom, that comes with that. But once you go way beyond that, I have to tell you it's the same hamburger. "

Personally, I don't think Bill Gates is the richest person in the world. Yes, he could be the richest person for us. But I think there are a lot of filthy rich people who keep a low profile and own a lot of mines, treasures and factories.

Look at this video. There may be many more such people in the world.

We have heard of billionaires like Bill Gates, Larry Page, etc. But have you heard of the Rockefellers? The Rothschilds? Morgan? People believe that these people are billionaires. They keep a low profile. None of us really know what these billionaires are doing.

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Personally, I don't think Bill Gates is the richest person in the world. Yes, he could be the richest person for us. But I think there are a lot of filthy rich people who keep a low profile and own a lot of mines, treasures and factories.

Look at this video. There may be many more such people in the world.

We have heard of billionaires like Bill Gates, Larry Page, etc. But have you heard of the Rockefellers? The Rothschilds? Morgan? People believe that these people are billionaires. They keep a low profile. None of us really know what these billionaires are doing. We don't even know how much they are worth. Some people believe they control the government. They are certainly really powerful. They have been powerful since ancient times. We do not know what they have and what they have owned since ancient times.

Watch these videos to find out how they control the world. You will certainly be surprised. And this could really be happening. We never know. We are fed by the media. And who knows, the media are also controlled by them.

There is also a video showing how the Queen of England is the richest person in the world. Because she owns all the uranium mines?

There are many more such videos. Internet is your friend.

Again ? To be poor again, you must have been poor before. Bill Gates has never been poor. His parents were quite wealthy and he had a trust fund before starting Microsoft.

If your question is whether Bill Gates will be much less wealthy, then he could. If Microsoft closes one day suddenly, it will become much less wealthy. But Bill Gates has invested a lot of money elsewhere, as you can clearly see, since Steve Ballmer almost has more shares in Microsoft than he does, I think I read once that Ballmer had more shares, but I doubt it.

If Bill Gates ever b

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Again ? To be poor again, you must have been poor before. Bill Gates has never been poor. His parents were quite wealthy and he had a trust fund before starting Microsoft.

If your question is whether Bill Gates will be much less wealthy, then he could. If Microsoft closes one day suddenly, it will become much less wealthy. But Bill Gates has invested a lot of money elsewhere, as you can clearly see, since Steve Ballmer almost has more shares in Microsoft than he does, I think I read once that Ballmer had more shares, but I doubt it.

If Bill Gates ever gets pretty poor, like almost homeless, destitute or the like, then I guess the world would be in quite a bit of trouble as the entire world economy would literally be in the bathroom.

Realistically, no, Bill Gates has very little chance of being considered poor. When he dies he will have given away more than 90% of all his assets, but the 10% he has left is not a penny, I am sure that some countries would like to have that GDP. In short, NOPE.

The essential, gritty and irrelevant details. No, unless they're in a really bad mood.

Here's a non-millionaire story: My aunt was a world-famous photographer. Most of the time I filmed in black and white, and usually photographs of people, sometimes architecture. He had a good eye for composition. And when he was photographing people, he had the amazing ability to blend in with the background. Yes, I knew the steps f and film speeds, the properties of different films, and the difference between a 35mm lens and a 55mm lens. So the settings for her were almost automatic. But he brought the photos to life in the darkroom.

Bu

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The essential, gritty and irrelevant details. No, unless they're in a really bad mood.

Here's a non-millionaire story: My aunt was a world-famous photographer. Most of the time I filmed in black and white, and usually photographs of people, sometimes architecture. He had a good eye for composition. And when he was photographing people, he had the amazing ability to blend in with the background. Yes, I knew the steps f and film speeds, the properties of different films, and the difference between a 35mm lens and a 55mm lens. So the settings for her were almost automatic. But he brought the photos to life in the darkroom.

But you listen to rookie photographers (or aspiring photographers). "Ooh ooh. Did you use Tri-X Pan? Did you shoot at 1/200? Was it f8 or f11? Did you use a tripod? What camera body did you use?" Etc. Sure, he could answer those questions most of the time. (Camera setup was done pretty much on the fly.) But a newbie could duplicate each and every one of her settings and not end up with a photo like hers. Why? Because his true skill was capturing the right image at the right time and then taking it to the next level in the darkroom.

Professionals like my aunt would try to explain the importance of visualizing the image. Some people heard it. Most of the people did not.

Now, a millionaire story. I know many real estate investors who are millionaires. They use several different strategies, but the ones I know best use the strategy that I use. It's called "wholesale." The technique: You put a property under contract for a low price. Then you assign or sell the contract to another investor, usually a rehabilitator. A good wholesaler in a strong market can earn $ 20,000 to $ 30,000 or more per trade. Some do a couple a month. The "trick", the skill, is to market those properties that you can put under contract and then get them under contract.

The novice investor wants to know: Do you use postcards or letters? If they are letters, are they so-called "yellow letters" (which look like handwritten on yellow paper notepads) or more formal letters? Do you use stamps with the American flag or flowers? (If it makes any difference, the answer is: it depends.) Should the address be written in blue or black ink? (Blue is supposed to be better, but it varies.) If you use "bandit signs", what is the best background color? Which postcard provider is the best? And it goes on and on and on.

Meanwhile, the novice investor is missing the important stuff. Who do you send an email to? Where do you put the bandit signs? When a salesperson calls, how do you establish a rapport? How much information do you need before spending a few precious hours looking at the property?

It's not that the successful investor / millionaire doesn't tell you those things. It's just that if a newbie focuses on the minutiae and overlooks the real questions to ask, he's not yet ready to learn the important stuff.

And look: you don't have to be a millionaire to know how frustrating it is when someone asks you for advice, but has no interest in following it.

How is it that Bill Gates keeps getting rich?

Bill Gates isn't really that interested in money. He said, as reported by the Seattle Times: “I can understand about having millions of dollars. There's a significant freedom that comes with that, but once you get that far beyond that, I have to tell you it's the same burger. "

However, it continues to get rich for two reasons.

First, the value of its Microsoft shares has continued to rise. When Microsoft launched its IPO in 1986, Gates owned 45% of the company and it was only worth $ 350 million. With the current market capitalization of $ 860 billion, 45% would be worth $ 387 billion

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How is it that Bill Gates keeps getting rich?

Bill Gates isn't really that interested in money. He said, as reported by the Seattle Times: “I can understand about having millions of dollars. There's a significant freedom that comes with that, but once you get that far beyond that, I have to tell you it's the same burger. "

However, it continues to get rich for two reasons.

First, the value of its Microsoft shares has continued to rise. When Microsoft launched its IPO in 1986, Gates owned 45% of the company and it was only worth $ 350 million. With the current market capitalization of $ 860 billion, 45% would be worth $ 387 billion.

Second, you don't even think about it. Since 1995, he has had a personal money manager named Michael Larson. His job is to enrich Gates, and he has done it very well.

Gates has made a small amount of investment outside of that, but his main goal has been to support biotech companies.

Gates doesn't have expensive hobbies like buying sports clubs and huge yachts (like Paul Allen) or sending rockets into space (like Elon Musk and Jeff Bezos). He enjoys reading books, playing bridge with Warren Buffett, playing golf, and spending time with his family.

In fact, Gates took his children to school, which is one of the ways he spent time with them. How many billionaire CEOs have ever done that?

Gates and Buffett are worth about $ 90 billion each. Gates has given away around $ 35 billion and Buffett more than $ 46 billion.

For more on Larson, see a 1999 Fortune story: Family Finances: How Bill Gates Invests His Money Like many people, you have stocks, bonds, and a money manager. But there are differences. For one thing, your personal portfolio is the size of a large mutual fund. - March 15, 1999

Bill Gates grew up in an upper middle class family, The Gates family environment was warm and close like any normal family, therefore, Gates belonged to a normal family.

Bill was a voracious reader as a child, spending many hours studying reference books such as the encyclopedia. Around the age of 11 or 12, Bill turned 13, enrolled in Seattle's exclusive Lakeside School Preparatory School. He flourished in almost all of his subjects, excelling in math and science, but also very well in theater and English.

Gates graduated from Lakeside in 1973. He scored a 1590 out of 1600 on the college SAT exam, af

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Bill Gates grew up in an upper middle class family, The Gates family environment was warm and close like any normal family, therefore, Gates belonged to a normal family.

Bill was a voracious reader as a child, spending many hours studying reference books such as the encyclopedia. Around the age of 11 or 12, Bill turned 13, enrolled in Seattle's exclusive Lakeside School Preparatory School. He flourished in almost all of his subjects, excelling in math and science, but also very well in theater and English.

Gates graduated from Lakeside in 1973. He scored a 1590 out of 1600 on the college SAT, a feat of intellectual achievement that for several years he bragged when introducing himself to new people.

Gates enrolled at Harvard University in the fall of 1973, originally thinking about a career in law. But his freshman year saw him spend more time in the computer lab than in class. Within two years, Gates dropped out of college in 1975 to pursue his business, Microsoft, with his partner Paul Allen.

I can't find anything he did as a rich kid, it all belonged to him.

Source of the above information: Bill Gates

Probably not. A million dollars is not what it used to be. Let's look at some numbers.

The first number is your age. Let's say you are 25 years old. That means you better plan to live 60 more years and that brings you to 85.

The second number is the return on your investment, or how much money your million makes each year. Let's shoot 7%. I think that is a reasonable assumption for a span of 60 years. The US stock market averaged 6.86% between 1871 and 2015 adjusted for inflation. * Your mileage may vary, but we must have a number and 7% is as good as any. You can do this by investing in a full market mutual

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Probably not. A million dollars is not what it used to be. Let's look at some numbers.

The first number is your age. Let's say you are 25 years old. That means you better plan to live 60 more years and that brings you to 85.

The second number is the return on your investment, or how much money your million makes each year. Let's shoot 7%. I think that is a reasonable assumption for a span of 60 years. The US stock market averaged 6.86% between 1871 and 2015 adjusted for inflation. * Your mileage may vary, but we must have a number and 7% is as good as any. You can do this by investing in a full market mutual fund and reinvesting the dividends. UPS. You will not reinvest dividends. You're going to retire for the rest of your life.

The third number is how much you can take out and not run out of money. You cannot get the full 7% because it is an unguaranteed average rate. Some years, the market can take a real hit. I remember that at the end of 2009 my portfolio, mostly market-wide mutual funds, was roughly halved. When that happens, and it will happen, you will only have half a million dollars and we know that is not enough to live on. Financial planners tell me, and I don't have a better number, so I'll accept theirs, 3% is the most you can safely draw each year.

The fourth number is how much it takes to live. Let's say you want to live, but not especially well. And we are going to move him to a cheap place to live like my adopted town of Copperas Cove, TX. Nice and cheap and you can live for $ 30k a year. You are going to live like a monk but you can have a house, food and a used car. You will not have health insurance. You will not have a savings account.

But now the killer number. Inflation. The US average since 1913 is 3.22 * and that's a problem. You need $ 30,966 dollars to live in year 2. Your million dollars dropped to 970,000 (you took out 30k to live the first year). You earned 7% of that, giving you 1,037,960. We take out 3% for the second year and you have 1,006,763. The difference is $ 31,197 that you took out to live in the second year. You beat inflation by $ 231, so you even got a raise. Good for you.

Year 3. His portfolio grows to $ 1,077,236. His withdrawal is $ 32,317. Inflation increases your cost of living to $ 31,894. Congratulations! You have a raise of $ 422. We ignore your income taxes. It is currently 15% of your dividends and none of your capital gains until you sell your shares. I'm about to screw it up anyway so it's safe to ignore it.

Year 4. Market recession. We don't know when it will happen, but it will happen. Let's make it a serious recession. Let's lose 10% of the market value. If that seems like too much, remember 2007, 2008. Your portfolio drops to $ 969,512. His cost of living goes up to $ 32,920. Your 3% withdrawal is only $ 29,985. That means it will run out of money in November of this year. You have to get more money to live. $ 3,834 more. Now his portfolio is worth $ 965,512.

Year 5. The market is improving (luckily). The portfolio is $ 965,512. The cost of living is $ 33,959. This year you have to withdraw and an additional $ 3,974. The portfolio is now $ 961,538.

Year 6. The market is still coming back. Up to 2%. (Seven was an average, not a guarantee). $ 980,767. The cost of living has nothing to do with the stock market, so we stick to our average. Usually it changes gradually. You don't even want to think about what a couple of years of high inflation will affect your income. I remember the 1970s. Inflation sucks. So you need $ 35,052. Taking out the 3% is $ 29,423. Its short $ 5,609 for the year. His portfolio drops to $ 975,158. You are facing slightly more than your total at the beginning of Year 2, but your cost of living has increased by $ 4,000 per year. You are already in long-term trouble.

Oh, but what if you have a great year in the stock market? What if it bounces? I think it will. That's why I buy stocks. But I don't sell stocks. And I'm certainly not selling them in a bear market. Two or three years of inflation and a falling market really eat up your capital.

Even in Copperas Cove, Texas, you can't save money if you only make $ 30k per year adjusted for inflation. What happens if the transmission is turned off in your car? That $ 3k has to come from somewhere and it comes from your manager.

Oh, do you want health insurance? Not at $ 30k per year. Health insurance? In Texas? Good luck with that, you lazy bastard. Get a job.

The bottom line is that there is no guaranteed investment that will return enough money for a person to live on a million dollars for 60 years. My cousin retired with over a million dollars in his wallet, a good pension, Social Security and Medicare. He thought he was ready for life. Then his wife, also a Social Security and Medicare affiliate, fell ill with cancer. When she died 3 years later, he had almost nothing to do with the medical expenses that Medicare did not pay. He is 83. His million dollars could not supplement his pension and social security for 20 years.

* How have stocks fared in the last 50 years? You'll be surprised. - Mad Motley

* US long-term inflation average.

William Henry Gates II, better known as Bill Gates Sr., is a retired American lawyer and philanthropist, and author of the book Show Up for Life: Thoughts on the Gifts of a Lifetime. He is the father of Bill Gates, the main founder of Microsoft.

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