Friday, April 29, 2016

Jacob Fugger the Rich worlds richest man





Was the first documented millionaire weighting $75 Million in sixteenth century dollar and by the time of his death in 1525 had a fortune equaling "just under 2 percent of European economic output". Todays GDP (Gross Domestic Product) of the European Union is USD $18.5 Trillion. Which mean that his net worth would be the equivalent of nearly $370 Billion in 2014.

He was richer than Warren Buffet, Bill Gates, Rockefeller, and Croesus.



Jakob Fugger of the Lily (6 March 1459 – 30 December 1525), also known as Jakob Fugger the Rich or sometimes Jakob II, was a major merchant, mining entrepreneur and banker of Europe. He was a descendant of the Fugger merchant family located in the Free Imperial City of Augsburg, where he was also born and later also elevated through marriage to Grand Burgher of Augsburg. Within a few decades he expanded the family firm to a business operating in all of Europe. 


Divide your fortune into four equal parts: stocks, real estate, bonds and gold coins. Be prepared to lose on one of them most of the time. During inflation, you will lose on bonds and win on gold and real estate; during deflation, you lose on real estate and win on bonds, while your stocks will see you through both periods, though in a mixed fashion. Whenever performance differences cause a major imbalance, rebalance your fortunes back to the four equal parts. – Jacob Fugger the Rich, 1459-1525

Financial assets (stocks and bonds)
Real assets (gold and real estate)



sources:
https://en.wikipedia.org/wiki/Jakob_Fugger
http://nypost.com/2015/07/26/meet-historys-richest-man-who-changed-christianity/
http://www.beardbooks.com/beardbooks/jacob_fugger_the_rich.html
http://www.stuff.co.nz/business/money/71054829/money-tips-from-jacob-fugger-the-richest-man-in-history
Invest like the Fuggers
http://www.ci.com/perspective/pdf/sterling/200509.pdf

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