In the 14th century, a king embarked on a journey that would showcase wealth on a scale that the world had never seen. This king was none other than Mansa Musa, the ruler of the Mali Empire. His story is not just about wealth but about how the distribution of it can have unforeseen consequences.
When Mansa Musa ascended to the throne of the Mali Empire in 1312, he took control of a realm that spanned a significant part of West Africa, boasting rich gold and salt mines. The region held some of the wealthiest and most productive gold mines anywhere in the ancient world. At the time, the region controlled by the Mali Empire produced nearly 2/3 of the world’s gold. As King, Mansa Musa had complete control over these mines which gave him unparalleled financial power.
As a devout Muslim, Musa set off to Mecca for his Hajj pilgrimage – this wasn’t just a religious journey, it also gave him an opportunity to interact with leaders in nearby nations.
Mansa Musa’s caravan was a display of wealth and power unlike any in history. His caravan stretched as far as the eye can see, with tens of thousands of soldiers, slaves, and heralds, all adorned in luxurious Persian silk and carrying golden staffs. He is believed to have travelled with 60,000 people, 12,000 slaves, and dozens of camels and horses carrying hundreds of pounds of gold.
Musa used the legendary pilgrimage as a chance to flaunt the Mali Empire’s unmatched prosperity. And his extravagant display of wealth and generosity eventually came with unintended consequences. Mansa Musa’s generosity during his pilgrimage was unprecedented. In cities like Cairo, he gave away so much gold that he inadvertently devalued the precious metal in the region.
Musa’s actions caused a price shock that took years to stabilise, serving as an early illustration of how a sudden influx of wealth into an economy can have unintended consequences.
In modern terms, Mansa Musa’s fortune is estimated at around $400 billion, though it’s challenging to compare his wealth across different eras accurately. The Mali Empire’s gold mines produced about two-thirds of the world’s gold at the time – which was controlled entirely by Musa.
Musa’s story continues to resonate even centuries later, offering insights into the potential unintended consequences of sudden influxes of wealth.
It also shows the vast power that gold can offer you. Be like Mansa and take control of your finances. Become your own bank by owning real gold and silver. No matter where you go, no matter the century, or country, gold will always have value.
Article courtesy of Brandon S, Gold and Silver
