Of power and luxury: World’s wealthiest people of all time

Jeff Bezos and Bill Gates are often tagged as two of the richest men in modern history, and it’s not an exaggeration that combined, they actually hold the world’s biggest wealth with their net-worth of $130 billion and $91 billion, respectively.  They own one of the largest tech companies in the world, which both play key roles in numerous investment portfolios, including offshore mutual funds based in the likes of Bermuda, Cayman Islands, and Bahamas. While these men occupy the pedestal as the wealthiest people today, digging deeper into the history of the world will reveal an astonishing discovery of richness beyond comprehension.

Here are the wealthiest human beings of all history:

Mansa Musa of Mali

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The West African conqueror led the Mali Empire in the 1300s and has amassed a wealth so massive that no one could ever describe the entirety of it. Mansa Musa is often considered as the richest person in human history, according to scholars and historians, because his empire was the largest producer of a highly-valuable precious metal: gold. The emperor was known for his lavish spending that once caused a currency crisis in Egypt during his 200,000-troop pilgrimage to the holy land of Mecca.

Augustus Caesar of Rome

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The Roman Empire, before its fall, was once the most powerful in the world not only as a military force but an economic giant. Led by Augustus Caesar, Rome used to own almost 30 percent of the whole world’s economic output. The emperor alone controlled 20 percent of the empire’s economic prowess, which is estimated to have cost over $4 trillion in 2014 standard value.

Emperor Shenzong of China

Image source: wikipedia.com

The Chinese emperor lived from 1048 through 1085 under the Song Dynasty and was one of the world’s wealthiest people of all time. If you’re familiar with the history of this part of Asia, you’ll discover that among all the Chinese imperial periods, the Song was the most economically powerful not only in the continent but throughout the world. At the top of its economic peak, Emperor Shenzong’s centralized power also comes with the full control of the empire’s economic wealth, which was estimated to fall from 25 to 30 percent of the global GDP.

Top jurisdictions for discretionary portfolio management

Image source: LOM Financial

When buy and sell decisions are under the discretion of an investment manager, clients have the assurance that their portfolio is well organized and in good hands, thanks to the expertise and experience that this type of asset management has to offer.

However, it’s not that easy to find an exceptional discretionary portfolio manager, unless you know where to look. There are several financial centers scattered all over the world but topping the list are offshore financial centers located near or within the Caribbean region. Here are the three most trusted financial centers and what they have to offer when it comes to offshore discretionary portfolio management.

Bermuda

Bermuda is home to several financial offshore services and it includes offshore discretionary management that caters to high net-worth individuals from every part of the globe. One of this financial location’s known strengths is its popularity in helping their clients build a strategic portfolio because of its connection to different investment assets. One example is its access to hundreds of mutual funds that strive for building a valuable and sustainable portfolio.

The Cayman Islands

Cayman’s tax-neutral status is not the only factor that makes it one of the top providers of discretionary portfolio management services. This jurisdiction provides tailor-made policies for foreign investments, with a legal system that protects and gives freedom to professional service providers in making the best financial decisions for their clients.

The Bahamas

One of the goals of this jurisdiction is to create a globally competitive financial sector especially when it comes to private wealth management and capital investment. Thanks to the foreign-friendly investment policies created by the Bahamian government, its financial sector is able to present a globally-accepted set of regulations that have benefited services such as portfolio management for international clients.

How the Asia Pacific region emerged as the new hub for international investors

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In the next ten years (or even earlier), the Asia Pacific region is expected to come on top as the most important component of the global economy, not only boosting the markets of its member countries but also providing positive gains for foreign direct investments.

According to the 2017 Regional Economic Outlook report, Asia and the Pacific were expected to lead the global growth, with a 5.4% increase in 2018—and the forecast did not disappoint international investors looking for opportunities in this emerging investment hub.

There are several factors that made the Asia-Pacific market highly favored by international investors. For instance, the demographic advantage of the region—with about half of the world’s population—makes it a pool of billions of consumers, facilitating to a highly dynamic market. Led by China, the region’s impressive population delivers a combined GDP that makes the regional market the most productive in the world.

It is also a fact that every country in the region is home to the world’s biggest economies like Japan, China, Australia, and India, as well as emerging markets like Indonesia, Thailand, the Philippines, and Vietnam, among others. Moreover, the growing population of young middle class among Asia-Pacific nations especially in Southeast Asia has continued to help their economies grow. The increase in consumption and public spending are the direct results of this growth, providing an optimistic forecast for regional market’s current and future investors.

Last but the most important factor is, Asia-Pacific’s sudden yet effective shift in its member country’s trading behavior. Unlike before when they relied on their economic trading partners from Western powers like North America and Europe, intra-regional trading became the norm and the pattern is expected to further boost the region’s rapidly advancing economy.

Many of the world’s offshore financial centers are also taking notice of Asia Pacific’s massive potential as a fertile ground in which to grow dynamic investment portfolios for international investors. The likes of LOM Financial have built up offshore mutual funds specifically designed to take advantage of the growth of emerging markets, which include many of the region’s economies.