What Happened to the Wealth of Crassus?

  Рет қаралды 165,960

toldinstone

toldinstone

Күн бұрын

The Roman aristocracy amassed some of the greatest fortunes in history. Where did all their money go?
Skip the waitlist and invest in blue-chip art for the very first time by signing up for Masterworks:
www.masterworks.art/toldinstone
Purchase shares in great masterpieces from artists like Pablo Picasso, Banksy, Andy Warhol, and more!
Check out my other KZfaq channels ‪@toldinstonefootnotes‬ and ‪@scenicroutestothepast‬
Please consider supporting toldinstone on Patreon:
/ toldinstone
If you liked this video, you might also enjoy my book “Naked Statues, Fat Gladiators, and War Elephants: Frequently Asked Questions about the Ancient Greeks and Romans.”
www.amazon.com/Naked-Statues-...
If you're so inclined, you can follow me elsewhere on the web:
/ toldinstone
/ toldinstone
/ 20993845.garrett_ryan
Chapters:
0:00 The wealth of the Roman elite
1:51 Investment strategies
2:20 Passing wealth to the next generation
3:23 Masterworks
4:58 It's tough being rich
6:21 Elite infertility
7:50 Infant mortality
8:57 The example of Crassus
9:32 Long-lasting families
See important Masterworks disclosures: www.masterworks.com/about/dis...

Пікірлер: 381
@QuantumHistorian
@QuantumHistorian Жыл бұрын
The way you manage to inject a hint of melancholy into every subject, even the story of the spoilt rich who banqueted as the world collapsed around them, is a testament to your talent as a story teller. That it's all thoroughly researched historical analysis is just the icing on the cake!
@0_1_2
@0_1_2 Жыл бұрын
Where are his sources. How do you know for certain?
@rursus8354
@rursus8354 Жыл бұрын
Only in the ear of the listener...
@alias6967
@alias6967 Жыл бұрын
@@0_1_2 it came to him in a dream
@histguy101
@histguy101 Жыл бұрын
Belshazzar?
@TheIgdrasil1
@TheIgdrasil1 Жыл бұрын
"Rich must be bad and spoiled" Thats your motto? Well I must say, that most of them are and probably were incredible humble people. And they wanted just pass their wealth to next generation as people nowadays. Because why earn and make money when you still die? To leave your estate to state officials like Liz Truss or Rishi?
@tsbrownie
@tsbrownie 11 ай бұрын
The Chinese have a saying, "After 3 generations the money is gone." It's down to a) spending money is easy, making it is a rare talent, b) spoiled children who think the money will never stop coming, c) division of wealth from parents to generation 2 (4 children + 4 spouses), generation 3 (32 children + 32 spouses), d) inflation. It takes ferocious estate management, ruthless inheritance and luck to keep a dynasty going.
@dan_taninecz_geopol
@dan_taninecz_geopol Жыл бұрын
The Scipio family tomb is worth a video itself!
@OptimusMaximusNero
@OptimusMaximusNero Жыл бұрын
*62 years after the Battle of Carrhae* Augustus: "...And that was the story of how we lost a great amount of soldiers in Parthia" Germanicus: "Woah, grandfather. That Crassus man really messed up with the enemy, doesn't he?" Augustus: "Yeah, boy. Glad things have changed since then and our men are now much more efficent than..." Slave: "Excuse me, Caesar. But a soldier from Varus' division in Germany has brought you news. They're about something that happened in Teutoburg..."
@jamest1242r
@jamest1242r Жыл бұрын
Everyone around shaking their heads
@AndrewFullerton
@AndrewFullerton Жыл бұрын
Ultimately, the wealth of the Roman aristocracy was the land and the people who worked it. That land is all still there today, the only thing that changed is the immaterial concept of "ownership".
@s4098429
@s4098429 Жыл бұрын
Would have been nice if you at least named the families that survived into the Middle Ages. Their stories would be interesting.
@MedjayofFaiyum
@MedjayofFaiyum Жыл бұрын
100
@Fizzy332
@Fizzy332 Жыл бұрын
If u find any info on them do gladly share them.
@bebos1262
@bebos1262 Жыл бұрын
@engineer gaming That would be insane if true and awsome. If Caesar was an ancestor to the Habsburgs that means that after that last Roman emperor (after Constantine XI) gave Isabella and Ferdinand the title of Roman emperor in his will, their grandson, Charles V, a Habsburg, inherited that title becoming Roman Emperor. So in a very complicated and convoluted way, Caesar's proginey did eventually become rulers of Rome.
@SmokingLaddy
@SmokingLaddy Жыл бұрын
Some claims for you below: en.wikipedia.org/wiki/Altieri_family en.wikipedia.org/wiki/Colonna_family en.wikipedia.org/wiki/Blumenthal_family
@Amedeus1756
@Amedeus1756 Жыл бұрын
I always wonder where rich Romans kept their cash since banks did not exist back then. They probably had rooms with chests full of cash guarded by guards 24/7.
@toldinstone
@toldinstone Жыл бұрын
Many of them did have iron chests filled with gold coins and bars, but they kept most of their wealth in land and slaves.
@heijimikata7181
@heijimikata7181 Жыл бұрын
@@toldinstone Ancient “real estate”, I see.
@ForageGardener
@ForageGardener Жыл бұрын
Banks did exist back then, but banks primary function is NOT warehousing money. Their primary function is extending credit. Even today, banks don't just hold your money. The money you deposit to them is technically a loan you give to them. They get to use your money while it's in their care. Typically it was gold and silver smith's who would hold people's wealth for them because they already had vaults and gaurds. But the elites themselves were the ones extending credit. They were the bankers. They had their own vaults.
@ForageGardener
@ForageGardener Жыл бұрын
​@@heijimikata7181 Land value always goes up, gold value slowly goes down. You can also accumulate slaves and labd faster and more consistently than you can accumulate gold. Land and slaves produce things that allow you to purchase more land and slaves. Gold doesn't produce anything unless you use it as reserves so you can extend credit. Both were done. Much of romans wealth was not gold, or slaves, or even land, but credit, just like the cash we use today which is technically valueless bank credit.
@Hypernefelos
@Hypernefelos Жыл бұрын
There were banks, at least in Greece. I'm not sure to what extent those had spread to Rome. Roman financial customs were a bit more usurious in that regard, from what I gather.
@jeffreyallen1290
@jeffreyallen1290 Жыл бұрын
Very interesting topic. I have always been curious as to what happened to Roman family names and how and at what time did they morph into Italian names. I would be interested in seeing a video explaining what we know about that process.
@toldinstone
@toldinstone Жыл бұрын
It's on my list!
@MariaMartinez-researcher
@MariaMartinez-researcher 11 ай бұрын
@@toldinstone Anecdote barely remembered from an old Reader's Digest. At an upper-crust gathering in Rome (in the 60s/70s of 20th century AD), an American lady asked an Italian nobleman named Massimi whether it was true that he was a descendant of the Roman family Maximii. He answered, "I don't know for sure. It's just something that has been told in the family for the last 1500 years." Oh, the Reader's Digest. Just found the anecdote correctly described at the Wikipedia article Massimo family. The characters in the original story were Napoleon and Prince Massimo while negotiating the Treaty of Tolentino. Awesome. Lol.
@Kyle_Schaff
@Kyle_Schaff Жыл бұрын
I can’t believe you’re not the most viewed KZfaqr of this niche. You present very interesting questions that you answer with detail and subtle humor that help me paint a more whole picture of antiquity. Seriously, I’m baffled
@brago_
@brago_ Жыл бұрын
Who's the most viewed??
@NikeonaBike
@NikeonaBike Жыл бұрын
I've always been interested in this topic, how did so many roman families survive from the earliest republic (heck even from the time of the monarchy) only to fade away so quickly in late republic. The obvious answer is that many old families were proscribed to extinction by Marius, Sulla, and the second triumvirate, in addition to those who naturally died out, were killed a bit more honorably in the civil wars, or who had n'eredowell children who squandered their fortunes as is natural. The factor I would suggest is less obvious is the enfranchisement of Italians after the Social War. Prior to the Social War, the patrician families had many legal advantages over the Italian allies in gaining and keeping wealth, not the least of which was use of the public lands that the Gracchi fought so hard to abolish. After the social war, though it wasn't immediately apparent, the empire was not run by Romans for Romans. it was run by Italians for Italians, and especially in the early imperial era, when Augustus struggled so hard to find enough competent magistrates, it was simple for an italian minor aristocrat who had great merit to get ahead in Roman society, which would have been unthinkable before the Social War. In short, being an aristocrat became more competitive as more people entered into the arena. Without a monopoly of government and magistracies, the Roman aristocrats were forced to compete with Italians more and more on their merits and the emperors more and more chose correctly, especially with military high commands and the path to wealth and power that entails. So yeah, I think the socio-economic fallout from the Social War is not to be underestimated. Way off topic, but this ofcourse happens again after Caracalla grants universal citizenship and opens the pool to even more men to compete for wealth and power. Not surprising that the 3rd and 4th century was dominated by Emperors born outside of Italy who may never have set foot in Italy as a result.
@toldinstone
@toldinstone Жыл бұрын
Yes, those are important points. Many elite Roman families failed to reproduce themselves - but just as many failed to succeed socially / politically generation after generation.
@sherlockgnomes8971
@sherlockgnomes8971 Жыл бұрын
So you started by mentioning you were interested in the topic that the video covered then went on a very long irrelevant ramble trying to show off your subpar knowledge 😂someone is a raging narcissist who always has to be right 😮way to go !
@nicholaiginovaef4861
@nicholaiginovaef4861 Жыл бұрын
@@sherlockgnomes8971 what points of knowledge did you flex. right there? way to go!!!
@whoareyouyouareclearlylost323
@whoareyouyouareclearlylost323 Жыл бұрын
@@sherlockgnomes8971 He only showed his knowledge about the topic, which is great and must be supported. Anyone who spreads knowledge and factual inform people should be rewarded, no matter the circumtances.
@WarEmperor5
@WarEmperor5 Жыл бұрын
@@sherlockgnomes8971 He was polite, not boastful in my opinion, and, dare I say, correct. Unlike you.
@RonJohn63
@RonJohn63 Жыл бұрын
It's horribly wrong to say that some families' wealth lasted into the Middle Ages without mentioning who and where they were.
@ForageGardener
@ForageGardener Жыл бұрын
Anyone who played nice with the Visigoths and later the Lombards. But the campaigns of Justinian kinda neutered Italy for centuries to come so I suspect after Belisarius rekt the place what major wealth remained began to quickly dwindle.
@kaanerdem2822
@kaanerdem2822 Жыл бұрын
The only i can name would probably the medici family
@Psychol-Snooper
@Psychol-Snooper Жыл бұрын
I think Toldinstone videos are very nicely free of bloat. I'd imagine Dr. Ryan could take us on an infinite number of tangents but is that really what you'd want? I feel a ten minute video is really rather elegant, and wonder if a rambling lecture would make anyone especially happy or be easy to produce. It is an interesting statement. I thought of trying to answer it, but I'm not really sure what the time frame is. The 5th to 10th centuries? Maybe the Crescentii or Papian's? The Colonna claimed decent from the Julii?
@SmokingLaddy
@SmokingLaddy Жыл бұрын
@@kaanerdem2822 The Medici family were first mentioned in a document of 1230, long after the Western Roman Empire collapsed in 476. Further to this the Medici were originally of Tuscan peasant origin - not a wealthy background - from the village of Cafaggiolo in the Mugello, the valley of the Sieve, north of Florence.
@SmokingLaddy
@SmokingLaddy Жыл бұрын
Some claims for you below: en.wikipedia.org/wiki/Altieri_family en.wikipedia.org/wiki/Colonna_family en.wikipedia.org/wiki/Blumenthal_family
@VanBurenOfficial
@VanBurenOfficial Жыл бұрын
Crassus had 200,000x the average annual income, compared to the GDP per capita of modern America, that would be 10 billion USD, an insane fortune to be sure, but I've heard he was possibly the wealthiest person ever, obviously the conversion isn't accurate, but interesting to compare.
@natotomato4625
@natotomato4625 Жыл бұрын
The dude could fund a whole Roman army privately, which is a world class power projection at that time. Think of having enough money to finance the US marines, which costs about 50 billion per year. Crassus both financed private armies in two wars.
@atlantasailor1
@atlantasailor1 Жыл бұрын
It’s interesting how he got his wealth. It was mostly through Sulla enemy of Marius. When a fire started Crassus would buy up the property at low prices. Probably Crassus got wealth from all the rich people killed by Sulla also. But Crassus was ultimately unlucky when he arrogantly invaded Parthia… 😊
@stsk1061
@stsk1061 Жыл бұрын
He wasn't even the richest Roman. Caesar and the later emperors were many times richer.
@Harrier_DuBois
@Harrier_DuBois Жыл бұрын
Interesting that even the rich children had high mortality rates, I wonder why this happened, as with poor children one might expect poor hygene and disease, but rich children should have had good living standards.
@KamikazeKatze666
@KamikazeKatze666 Жыл бұрын
No vaccinations whatsoever. Measles and the like come with high mortality rates.
@Blackadder75
@Blackadder75 Жыл бұрын
good living standards in the year 0 were WAY below the healthcare of homeless people in the year 2020. you don't realize how much science has improved our conditions in the past 200 years
@xchromehearxt8838
@xchromehearxt8838 9 ай бұрын
this dude plugged masterwork in the slickest way, I could even tell it was an ad section at first
@michaelmccoy2847
@michaelmccoy2847 Жыл бұрын
Fascinating subject! Thank you for your efforts!
@ravenragnar
@ravenragnar Жыл бұрын
Crassus was one of the wealthiest people in the history of the ancient world. Most of his wealth was invested in land and businesses all over the Roman Empire. However, it’s not clear where all of his wealth ended up after his death. Some historians believe that it was divided among his heirs and others believe that it was lost or spent by the Roman Empire. However, there is a common theory that a portion of Crassus’s wealth ended up buried with him in a pyramid-like tomb made entirely out of gold. This is just an old legend, but it makes for a good story!
@AlexYorim
@AlexYorim Жыл бұрын
And part of his wealth was probably inside his mouth as well.
@AtomicWizard527
@AtomicWizard527 Жыл бұрын
@@AlexYorim in his head…
@AlexYorim
@AlexYorim Жыл бұрын
@@AtomicWizard527 Zombie Zombie Zombie-e-e
@matbroomfield
@matbroomfield Жыл бұрын
I find this tremendously comforting. Rich or poor, we are all transient and the wealth that people spend lifetimes accumulating and hoarding turns to dust in just a few generations. I just wish that wealth did not bestow such unhealthy power over the rest of us, especially in the modern age.
@sarahsarah2534
@sarahsarah2534 Жыл бұрын
The wealth of today's banking families comes from centuries of accumulation and is still growing, so the notion that wealth doesn't last long is only valid for the average millionaire.
@matbroomfield
@matbroomfield Жыл бұрын
@@sarahsarah2534 Zuckerberg, Musk, Bezos, the Apple guy and many more are all first generation billionaires. Yes, some banking families have accumulated wealth and power, but some of the richest people on the planet have attained (and watching Musk) lost their fortunes in a single lifetime.
@sarahahmed113
@sarahahmed113 Жыл бұрын
@@matbroomfield Zuckerberg, Bezos, Musk, and the other new rich are small business compared to the Rothschild, Morgan, Rockefeller, etc. Much of the wealth is concealed through an inextricable net of fictitious legal entities.
@HungryLoki
@HungryLoki Жыл бұрын
This was how it was for the ancient romans. It doesn't apply to modern times, so there is absolutely no comfort to be taken from this video, only despair.
@duncanclews9424
@duncanclews9424 Жыл бұрын
so enjoy your insights ! fascinating - thank you
@XXfea
@XXfea Жыл бұрын
One of the best KZfaq channels.. thank you
@OptimusMaximusNero
@OptimusMaximusNero Жыл бұрын
"600 of us were crucified as a warning to any slave dreaming of rising against Rome, but the Romans never found Spartacus' body. I like to think he's still out there. Of one thing I am sure. When the centuries pass, few will remember the name of Marcus Licinius Crassus...but Spartacus' will live on forever. Because he showed us something we never knew before: that a slave didn't have to just take it. He could be free..." *Oenomaus*
@gabrielethier2046
@gabrielethier2046 Жыл бұрын
I still remember Crassus, he even has the phrase "rich as Crassus"
@Oldwhiteguy
@Oldwhiteguy Жыл бұрын
I’m Spartacus!!
@thoughtfulhistorytoday7214
@thoughtfulhistorytoday7214 Жыл бұрын
@@Oldwhiteguy Kirk Douglas is Spartacus! :)
@OptimusMaximusNero
@OptimusMaximusNero Жыл бұрын
<a href="#" class="seekto" data-time="507">8:27</a> Domitian: "A woman who carries no less than 10 living romans in her womb deserves nothing less than pure respect. The Gods must be very proud of you!" Woman: "Yes, Caesar. My prayers to Vesta were not in vain!" 😊 Domitian: "OH, COME ON!!!"
@concept5631
@concept5631 Жыл бұрын
Even in the most oppressive cases of patriarchy, women will still find ways to embarrass the shit out of men. A tale as old as time, and it is still funny as all hell every time.
@brago_
@brago_ Жыл бұрын
lol
@dictatorofcanada4238
@dictatorofcanada4238 4 ай бұрын
Could you explain, I don't get it?
@DeHeld8
@DeHeld8 Жыл бұрын
When you hear about the wealth of the Roman elites, you really start to understand Spartacus and his slave army rampaging and killing trough the estates of those elites during the third servile war.
@jaredsmith112
@jaredsmith112 Жыл бұрын
Mmm not really
@DeHeld8
@DeHeld8 Жыл бұрын
@@jaredsmith112 No? not really? You really don't understand why people who are forced to live their lives without any agency of their own, their labour being exploited to the maximum (because they don't get payed) and having to die on the sands of the amphitheatre or in the mines would maybe get a little fucking mad at the people who orchestrate and benefit so ostentatiously from their slavery? I suppose the slaves should have engaged in civil debate with their masters in stead of using violence. Maybe propose better living conditions for themselves in the market place of ideas, right? Or maybe the slaves should have worked harder, have the right grindset in stead of complaining about their lot in life?
@sdauz
@sdauz Жыл бұрын
Had wondered this for a long time, thanks for the video
@wrongfootmcgee
@wrongfootmcgee Жыл бұрын
Nice subject, super stoked to watch this one
@willdroke9119
@willdroke9119 Жыл бұрын
Wasn’t expecting a George HW Bush reference. Another reason you’re simply the best.
@Lerxstification
@Lerxstification Жыл бұрын
Did you catch the Obama reference on the Appian Way? "You didn't build that!"
@benrobertson7855
@benrobertson7855 Жыл бұрын
Thanks so much,always really appreciate your efforts.
@v.g.r.l.4072
@v.g.r.l.4072 Жыл бұрын
I like very much the way this brilliant scholar focusses history. His analyses are insightful and make you think a lot on the personal sense of past.
@jo5678
@jo5678 Жыл бұрын
I went to Rome two years ago and we had a tour guide certified by the vatican and assume majored in history as well. I asked about the plazas and building and was shocked to learn some of those families from the middle ages / renaissance still owned plazas and buildings 😮 i honestly thought the govt wouldve seized it all.
@Chadius_Thundercock
@Chadius_Thundercock 11 ай бұрын
Thank god the government wasn’t Australia, they would’ve taken it with no compensation
@SmokingLaddy
@SmokingLaddy 11 ай бұрын
​@@Chadius_Thundercock Lol if the Australian government tried confiscating property from the renaissance I am afraid they wouldn't end up with much to show for it. The first major building in Australia was built in 1788, long after the renaissance and middle ages.
@mirukuchan
@mirukuchan Жыл бұрын
Great voice for listening and learning 🤔
@joshuaprime2042
@joshuaprime2042 5 ай бұрын
You have such a soothing and illuminating way of speaking
@nickywags0712
@nickywags0712 Жыл бұрын
Hey Dr. Ryan! Love the new intro with the stone carving sounds! Also I’m almost done with Naked Statues! I’ve gotten lots of questions about it from my university peers/professors
@SobekLOTFC
@SobekLOTFC Жыл бұрын
Fantastic work, per usual, Garrett
@sirchromiumdowns2015
@sirchromiumdowns2015 11 ай бұрын
Your videos are excellent. I always learn something interesting from them.
@robbabcock_
@robbabcock_ Жыл бұрын
Fascinating!
@larsrons7937
@larsrons7937 Жыл бұрын
Thank you for an interesting story. "Croesus" or "Crassus", no wealth on Earth can save us from life some day coming to an end.
@hannibalburgers477
@hannibalburgers477 Жыл бұрын
Or you know, don't try pass the desert with heavy infantry and bunch of (May Mars Pater forgive me for saying this word) equites 🤮🤮
@hannibalburgers477
@hannibalburgers477 Жыл бұрын
Oh, also don't do the noob box. It did not worked in Tifernum , it will not work in the Battle of Three Kings, and it is not going to work here.
@johnnysmall
@johnnysmall Жыл бұрын
Love the new opening music and sfx
@gregpappas
@gregpappas Жыл бұрын
Great segment.
@SSJDevin
@SSJDevin Жыл бұрын
does anyone know what painting that is at <a href="#" class="seekto" data-time="312">5:12</a>? the one captioned "Gladiatorial contest at a banquet"? i tried googling that phrase as the most obvious thing (and then adding "painting") but i got nothing. it's gorgeous
@SSJDevin
@SSJDevin Жыл бұрын
never mind, some tweaking of my wording and further persistence found it. "Gladiator Fight during a Meal at Pompeii," 1880, Francesco Netti, in case anyone else was wondering.
@Carlton-B
@Carlton-B Жыл бұрын
Numerous late antique wealthy Romans gave their wealth to the Church. During the Gothic War of the sixth century, about 300 members of the great Roman families were taken hostage by the Goths in Italy. Things went South, all the hostages were killed, and the great Roman families disappeared from history.
@Jesse_Dawg
@Jesse_Dawg Жыл бұрын
Please more videos like this
@landonpotts6815
@landonpotts6815 Жыл бұрын
Great video
@zachobson8399
@zachobson8399 Жыл бұрын
Your videos are excellent!
@patrickf2671
@patrickf2671 Жыл бұрын
Fantastic video..thanks..
@mgm6076
@mgm6076 Жыл бұрын
nice topic!
@asheland_numismatics
@asheland_numismatics Жыл бұрын
Excellent channel!
@BC-lo6rf
@BC-lo6rf Жыл бұрын
Outstanding as always. What is the artwork featured at the 5min 12 second mark? Enjoy learning from your video essays. Bravo
@Sevenigma777
@Sevenigma777 Жыл бұрын
Gladiator Fight at a Meal at Pompeii by Netti
@Matatabi6
@Matatabi6 Жыл бұрын
I didn’t know I’d been wondering this until I saw the title well done
@jettjones9889
@jettjones9889 Жыл бұрын
Excellent
@sarcasmo57
@sarcasmo57 Жыл бұрын
What will I do with all my wealth? Raise an army I guess.
@kellysouter4381
@kellysouter4381 Жыл бұрын
The Netherlands farmers could use some help just now.
@unclejoe7466
@unclejoe7466 Жыл бұрын
A little depressing to hear that a family's wealth is short-lived, but it's also good to know that wealth and resources are recycled into society or allowed to return to a natural state in the case of land that goes untended.
@MrWolfstar8
@MrWolfstar8 Жыл бұрын
You’re assuming a zero sum state of economic production. Wealthy people create value while they get rich. Their children failing to get wealthier indicates a net decrease in value being produced. Everyone gets poorer when production goes down.
@stooge_mobile
@stooge_mobile Жыл бұрын
​@@MrWolfstar8 That's true, but while the empire was rich as a whole, it meant that people who were better at producing value became rich, at the expense of those who spent lavishly or invested foolishly. This shows some meritocracy in the economic system and allowed social mobility. Rich people becoming poor by being outcompeted is a great thing. Obviously, when the empire became poorer as a whole, this no longer applied.
@plateoshrimp9685
@plateoshrimp9685 Жыл бұрын
@@MrWolfstar8 I'm not sure why concentration of wealth should be associated with creation of value. Wealthy people do not create value by getting rich. They simply concentrate wealth. Value is created when people do the work that creates the material objects that people place value on. If you make a hundred sandwiches and I take them all, is that somehow more sandwich value than if 100 people got 1sandwich each?
@MrWolfstar8
@MrWolfstar8 Жыл бұрын
@@plateoshrimp9685 you are making the basic marxist mistake of viewing value as a zero sum game where value can only be transferred and not created. The labor theory of value was shown to be utterly incorrect by Mao’s Great Leap Forward which resulted in millions deaths in China. To get wealthy when one isn’t a member of the political class who simply steal their wealth from the public requires creating new sources of value. For example Elon Musk became very wealthy by creating high performance electric cars and rocket ships that are reusable. Those cheaper to operate Rocket ships resulted in a decline in launch costs which in turned enabling cheap high speed satellite internet. That’s newly created value increasing overall wealth pie.
@1funnygame
@1funnygame Жыл бұрын
@@plateoshrimp9685 being able to effectively manage wealth by choosing what to invest in does add value to society. It's more effective than far removed central planners who don't have a stake in the effectiveness of their decisions, like the ones who drove the Soviet union into the ground
@AlbertManiscalco
@AlbertManiscalco Жыл бұрын
fascinating
@jstantongood5474
@jstantongood5474 Жыл бұрын
That looks like Robin Leach! In the 1980s there was a show he hosted called: Lives of the Rich and Famous.
@diamondtiara84
@diamondtiara84 Жыл бұрын
The reason so many fortunes fail is because people got too extravagant, spent money foolishly, and just assumed there would always be more to spend, not taking into account things that could go wrong. If I were an heiress (hopefully in a future lifetime), I'd divide the money; if it was 20 million, I'd save 5 (whichever way would earn the most interest), invest 5 in real estate, stocks, bonds, etc., donate 5 to worthy causes (a nice thing to do and also tax deductible) and with the other 5, have a whole lot of fun! I'd also remind myself never to go overboard or take anything for granted. And now, I'll shut up!
@Yora21
@Yora21 Жыл бұрын
Rich people who are more prudent with their wealth don't get famous. When you live an ordinary life in private with a vast fortune in the bank, there's no stories to tell about you.
@rickroll9705
@rickroll9705 Жыл бұрын
Cool but you only get rich by amassing money. Spending in many extravagancies such as jewelery, can be considered investment. Your home at the time was the best place to held your fortune.
@harrywang9375
@harrywang9375 Жыл бұрын
your 20 million is a great example of squandering a fortune. no way your money is lasting a generation
@vilukisu
@vilukisu Жыл бұрын
​@@Yora21 This manages to reflect some differences between what we call old money and new money. Much of contemporary, lasting generational wealth is often out of the spotlight compared to more recently acquired fortunes.
@teslaoliveira2195
@teslaoliveira2195 Жыл бұрын
Super!
@user-uf2df6zf5w
@user-uf2df6zf5w Жыл бұрын
If it were just the diseases, that prevented families from lasting, the romans would die out, as lower-class families had even more of a problem with these. I think that it is caused by the wealth itself. Like in the modern world, as people reach a certain standard of living for an extended period of time their birthrates nosedive. This, combined with the problems mentioned in the video above, caused most families to end within a couple of generations.
@mikepette4422
@mikepette4422 Жыл бұрын
wow I always wondered about Crassus and his wealth
@DimBeam1
@DimBeam1 Жыл бұрын
START <a href="#" class="seekto" data-time="296">4:56</a>. That's shockingly bad.
@ovrsurge4689
@ovrsurge4689 Жыл бұрын
This is a question I have had since watching Historia Civilis videos mentioning how wealthy Crassus was.
@zaco-km3su
@zaco-km3su Жыл бұрын
So there were some families that maintained some wealth from Roman times to the middle ages? Interesting!
@atevensnderson5827
@atevensnderson5827 Жыл бұрын
Could you do a video following one of those elite families that lasted into the dark ages?
@tomtaylor5623
@tomtaylor5623 Жыл бұрын
so you're not going to tell us about these roman families who persevered into the middle ages...?
@daghusebye5041
@daghusebye5041 Жыл бұрын
Are there names of such families that survived into the Middle Ages? Thank you for a wonderful program. 🏆🏆🤩🤩
@paulprice1705
@paulprice1705 Жыл бұрын
In a history documentary I watched years ago, on lead poisoning in the elite of Rome. You touched on lead piping. In the doc they pointed out the that richer you were the more elaborate was the dishes and serving ware and so forth for food - most of it coated in Lead paint, that leeched heavily. Is this a possible good explanation for the very low birth rates and high mortality rate? Where did the wealth of such families ceasing go, to the Emperor or the Senate or elsewhere?
@apresmidi153
@apresmidi153 Жыл бұрын
Incredible stories...I read a lot about Rome and you never fail to teach something in each video!
@fredmidtgaard5487
@fredmidtgaard5487 4 ай бұрын
You do not mention this, but I believe that the practice of boiling the fruit juice before fermenting it into wine - in lead containers - might have contributed as well. Remember that at the same time, the Danish barbarian tribes exploded in population growth. They drank mead, not wine. And of course, the lead water pipes contributed too, but the wine was thought to be the most important.
@94Newbie
@94Newbie 11 ай бұрын
one should also note that the vast majority of cities didnt have positive natural growth until modern times. they grew via immigration from the countryside. this was mostly due to the higher risk of disease.
@Tripplebeem
@Tripplebeem Жыл бұрын
Can’t wait for masterworks to be the next big sponsor take down.
@zigzag4273
@zigzag4273 Жыл бұрын
"A man is not rich unless he can raise an army at his own expense"
@PiedFifer
@PiedFifer Жыл бұрын
<a href="#" class="seekto" data-time="120">2:00</a> I’m surprised to see a KZfaq video bother to mention what the rich produced to become wealthy.
@IAsimov
@IAsimov Жыл бұрын
Three generations! Huh. I read Hugo Nutini's *Wages of Conquest*, which is about the mexican aristocracy, and he came to the same conclusion on how long do family riches last.
@Hugehugebighuge
@Hugehugebighuge 7 ай бұрын
<a href="#" class="seekto" data-time="620">10:20</a> can you go into some more detail here, please? I’m dying of curiosity, is there more info ot there in these families
@nole8923
@nole8923 Жыл бұрын
Based on how the busts of ancient Romans looked I would say that they were not the same ethnicity as modern Italians today. I believe they are an extinct ethnic group. The only thing that remains of them today is off shoots of their Latin languages such as French and Spanish. Nobody uses the old Latin language except the Catholic Church and paleontologists when they come up with names of dinosaurs.
@33Donner77
@33Donner77 Жыл бұрын
So much for the "Generational Wealth" that social activists talk about today. As for the rich guy who traveled to North Africa to sample the shrimp, he didn't like the shrimp.
@HungryLoki
@HungryLoki Жыл бұрын
Wait, are you saying only two or three family fortunes from a very limited area surviving the last 2000 years is somewhat indicative of generational wealth not being a thing in modern times?
@33Donner77
@33Donner77 Жыл бұрын
@@HungryLoki The occurrences of generational wealth being passed down through many generations are few and far between in this world of about 8 billion people.
@Georgieastra
@Georgieastra Жыл бұрын
Do you have plans to do a video on the Roman Secret Police?
@creativeideas012
@creativeideas012 Жыл бұрын
<a href="#" class="seekto" data-time="50">0:50</a> had to activate captions in order to understand what was being said clearly (sailing to Africa to sample shrimps)
@namerelevant2499
@namerelevant2499 Жыл бұрын
Spoiler! He spent it on NFTs
@forkthepork
@forkthepork Жыл бұрын
That, or red mullet...same thing, really.
@johnkeck
@johnkeck Жыл бұрын
Are those your own photos of the tombs? You really get around!
@foty8679
@foty8679 Жыл бұрын
<a href="#" class="seekto" data-time="530">8:50</a> Why didnt you mention Augustus? (just curious)
@jamesflowers1295
@jamesflowers1295 Жыл бұрын
Got the book the other day. Pretty good brain junkfood
@Ugly_German_Truths
@Ugly_German_Truths 7 ай бұрын
As they say "the last shirt has no pockets". He couldn't take it with him and if he had tried to turn his mausoleum into a money vault he'd just have guaranteed it to be plundered in short time.
@Ugly_German_Truths
@Ugly_German_Truths 7 ай бұрын
Well it's also a factor that even on the cursus honorium you need to be very lucky or very ruthless to make it to a point where you can INCREASE the family fortune with things like the spoils of war or plundering a very successful province on the height of productivity... if you in any way showed less talent than your ancestor that brought you into a situation where you could try, that would fire back and destroy so much wealth that you were out of the Game of thrones for good. Which family does seriously produce three fabulous generals or politicians in direct sequence? Even most royal houses have maybe one extra competent ruler in 4 or 5 generations, interspersed with carefully trained and supported mediocrity.
@vespasian606
@vespasian606 Жыл бұрын
So Pratsagus mistakenly thought Nero would be satisfied with half instead of all. Turns out all of a lot less was not nearly as much as half of everything not to mention the loss of life and destruction of property that ensued. No problem. Just blame Suetonius and Seneca.
@CalledTurnAGundam
@CalledTurnAGundam Жыл бұрын
TLDR: Crassus' son Doug spent it all at the ancient casino in Luxor, Egyptian Las Vegas. Egypt had casinos, right? I feel like Egypt would have casinos. They had magic temples. One, at least with no extensive knowledge of Egyptian culture would think they'd have some form of mass gambling especially into the Ptolemaic. What else are Egyptians going to do with all the weird greeks that are literally everywhere for some reason? Joking aside, I do wonder what the gambling capital of the ancient world was... I also wonder if there was ever like a massive international Game of Ur tournament but Irving Finkel won't return my calls :P Oh damn this video was about Crassus
@apollion888
@apollion888 Жыл бұрын
His expression suggests he ate it
@nickmessina5131
@nickmessina5131 Жыл бұрын
intros are getting fancier and fancier
@NomeDeArte
@NomeDeArte Жыл бұрын
Did you know how Crassus make his fortune? He sales "fire insurances" in Rome, and you better pay him because bad things happen to the people that didn't pay. Don't know why though... bad luck I suppose...
@barath4545
@barath4545 Жыл бұрын
The sheer amount of discreet sarcasm, melancholy and humor is unmatched! Got your book and plowed through it, nicely written although the font was a bit ... not enticing me to read a lot. My brother is a pro in the same field as you, though not a professor, but he really likes your videos for his teaching on ancient science and religion. So much positive feedback!
@malkomalkavian
@malkomalkavian Жыл бұрын
What is the painting of the dude on the throne?
@humanitiestheproblem
@humanitiestheproblem 11 ай бұрын
I very well could be wrong, but I'm fairly sure their compulsion to lead-line everything, had a large role in the infertility amongst the Roman elite.
@thedalailama
@thedalailama Жыл бұрын
Maybe this is the position Putin has found himself in? The wealth of Crassus, the power of a Caesar, but no heirs to pass it along to - the dawning panic that you can't take it with you; the late middle age stark realisation of mortality. Wish he'd just concentrate his efforts building a mausoleum like the sovereigns of antiquity and leave the rest of us the f alone but I digress. Massively enjoying your book btw sir, don't want it to end - ty!
@Moredread25
@Moredread25 Жыл бұрын
This was interesting,. From the title I was expecting something more specifically about Crassus's wealth, but you probably covered all that needed to be said in a couple lines.
@bhh8005
@bhh8005 Жыл бұрын
The short version, male heirs keeps the fortune intact if they dont waste it. Whit out male heirs the in laws get everything.
@elmowilcox
@elmowilcox Жыл бұрын
Half of everyone died by five. A third of those made it to adulthood. We’re made out of some pretty badass humans.
@VanderbiltMr
@VanderbiltMr Жыл бұрын
From the thumbnail I thought we were waiting in line at the Disneyland Haunted Mansion
@lyesbenarbane5381
@lyesbenarbane5381 Жыл бұрын
We're going to need another, detailed Crassus video.
@Whurlpuul
@Whurlpuul Жыл бұрын
I would like one going into detail about the slave revolt and Crassus' role in putting it down.
@FreedomLovingLoyalistOfficial
@FreedomLovingLoyalistOfficial Жыл бұрын
<a href="#" class="seekto" data-time="349">5:49</a> Only problem was that Faberge Eggs were not a thing in Ancient Rome.
@leetakamiya
@leetakamiya Жыл бұрын
Can’t confirm it but the story I hear is that he let someone called Sammus Bankmanus Friedii invest his money.
@dddank
@dddank Жыл бұрын
Crassus these nuts
@Rnankn
@Rnankn Жыл бұрын
It would be amazing if a modest Roman middle class savings account somehow survived unclaimed with annualized compound interest for two centuries. Or if a direct line could be traced from Roman family wealth to American elite wealth. Maybe the Roman senate is to be blamed for lobbying and influence on the US congress?
@moonriseproductions
@moonriseproductions Жыл бұрын
Another banger video from you! This was interesting, thank you. I'm definitely gonna hire a lawyer to make sure my kids don't goof around too much with my inheritance lol
@amaristudios8573
@amaristudios8573 Жыл бұрын
is your intro The Lick from jazz?? cause it really sounds like it
@bconroy2
@bconroy2 Жыл бұрын
I'm still not certain what happened to the immense wealth of Crassus. Was it just frittered away it two generations? Did an emperor just take it? Would the money go to the state if there were no heirs?
How "Good" Were Rome's Five Good Emperors?
11:01
toldinstone
Рет қаралды 259 М.
The Life Expectancy of a Roman Emperor
10:18
toldinstone
Рет қаралды 109 М.
Haha😂 Power💪 #trending #funny #viral #shorts
00:18
Reaction Station TV
Рет қаралды 14 МЛН
Wait for the last one! 👀
00:28
Josh Horton
Рет қаралды 103 МЛН
I CAN’T BELIEVE I LOST 😱
00:46
Topper Guild
Рет қаралды 43 МЛН
Education in Ancient Greece and Rome
15:20
toldinstone
Рет қаралды 141 М.
How much Gold did the Romans have - and where is it now?
11:09
toldinstone
Рет қаралды 467 М.
The Craziest Parties in Roman History
10:53
toldinstone
Рет қаралды 132 М.
The Worst Earthquakes in Ancient History
9:51
toldinstone
Рет қаралды 78 М.
Augustus and the Altar of Peace
14:26
toldinstone
Рет қаралды 131 М.
Why the Sparta you know Never Existed
12:58
toldinstone
Рет қаралды 416 М.
How Inflation Ruined the Roman Economy
13:53
toldinstone
Рет қаралды 604 М.
Deadly Moments in History - Avenging Crassus
19:01
Invicta
Рет қаралды 2,4 МЛН
How did Wealthy Romans make their Fortunes?
8:58
toldinstone
Рет қаралды 273 М.
Haha😂 Power💪 #trending #funny #viral #shorts
00:18
Reaction Station TV
Рет қаралды 14 МЛН