Mansa Musa crashed economy of Egypt & Arabia during his journey to Mecca in 1324 AD
Mansa Musa (Musa I of Mali) was the ruler of the Kingdom of Mali from 1312 C.E. to 1337 C.E. Mali was one of Africa ‘s wealthiest kingdoms during his rule, and Mansa Musa is the wealthiest person in history.
Mali’s ancient empire extended across modern-day Mali, Senegal, Gambia, Guinea, Niger, Chad, Mauritania, Burkina Faso, and Nigeria. Cities such as Timbuktu and Gao were built by Mansa Musa into significant cultural centers.
He also introduced architects to his cities from the Middle East and across Africa to construct new buildings. In the Islamic world, Mansa Musa transformed the kingdom of Mali into an advanced and powerful center of learning.
Mansa Musa took so much money with him on a pilgrimage to Mecca in 1324 AD that his visit resulted in the fall of gold prices in Egypt and Arabia. It took twelve years for the economies of the region to normalise.
Mansa Musa gave gold to the poor people he found on the road and donated a great deal of gold for souvenirs in the cities he passed on his way to Mecca, including Cairo and Madina.
But the good deeds of Musa unintentionally profoundly influenced the economies of the counties through which he crossed. Over the next few years, the mass inflow of gold has cheapened metal in the towns of Cairo, Medina and Mecca. Inflated prices of commodities and materials.
On his way from Mecca, Mansa Musa borrowed all the gold he had from the Cairo money-borrowers for the first time in Egypt, at a very high interest rate. It became the first time in history for a single person to regulate the Mediterranean gold prices.