In the records of history, there are those who craved wealth so fiercely that they left behind a trail of scandal, shock, and sheer audacity. Some of these stories are even more surprising than the biggest heist movies. Here are ten outrageous tales of such people who let their desire for riches spiral out of control.
Jay Gould
Jay Gould, a 19th-century railroad tycoon, was known for manipulating stock prices, buying up struggling railroads, and using insider trading tactics. His most notorious move was cornering the gold market in 1869, which triggered the financial panic, “Black Friday.” Gould’s relentless pursuit of wealth earned him vast riches after he ruined many financial institutions and rivals.
Leona Helmsley
Helmsley inherited her fortune from her real-estate husband, Harry Helmsley. Despite her immense wealth, she became infamous for tax evasion, dodging millions in taxes by falsely billing personal expenses to her businesses. Leona’s quote, “Only little people pay taxes,” sealed her reputation as a greedy woman. She served a 19-month sentence in the end.
Edward Teach
Better known as Blackbeard, Edward Teach terrorized the seas during the early 18th century. His most infamous act was blockading the port of Charleston in 1718, holding the entire town captive for ransom. Blackbeard’s fearsome reputation and audacious tactics made him a legend, but his life of piracy ended in a brutal battle with British naval forces.
Charles Ponzi
The term “Ponzi scheme” for financial deceit came from here—an Italian immigrant, Charles Ponzi, devised a scheme in the 1920s that promised investors high returns through arbitrage in international postal coupons. In reality, he used funds from new investors to pay earlier ones. Thousands of investors were left penniless when his scheme collapsed after some time.
Bernie Madoff
The man followed in Charle’s footsteps and orchestrated the largest Ponzi scheme in history. Madoff tricked investors of an estimated $65 billion over decades. Bernie promised regular high returns to celebrities, charities, and retirees, only to use new investments to pay off earlier ones. His scam failed during the 2008 financial crisis, and he ended with a 150-year sentence after that.
King John of England
King John was infamous for his greed and mismanagement and imposed crushing taxes to fund his political campaigns and personal extravagances. His exploitation of feudal rights, including excessive fines and arbitrary confiscations, incited widespread rebellion among his barons. It was an unrest that led to the Magna Carta of 1215—a landmark in limiting royal authority.
Huguette Clark
An heiress to a vast copper and railroad fortune, Huguette Clark lived reclusively despite owning luxurious properties, including an empty Manhattan mansion and a sprawling Santa Barbara estate. She withdrew from public life and spent decades in a hospital room by choice. Her wealth became the subject of court disputes after she passed away in 2011 at the age of 104.
Mansa Musa
Musa, the 14th-century ruler of the Mali Empire, amassed immense wealth through gold production and trade. On his 1324 pilgrimage to Mecca, he distributed so much gold in Cairo that it caused inflation lasting over a decade. While his generosity was legendary, the unintended economic impact highlights the excesses of his immense fortune.
William Randolph Hearst
Hearst was a media mogul who invested a fortune in building Hearst Castle—a sprawling estate in California adorned with European art, ancient artifacts, and even a private zoo. William’s unchecked spending habits strained his finances during the Great Depression, which ultimately forced him to sell off assets and close parts of his business empire.
Cornelius Vanderbilt
Cornelius built his wealth by monopolizing transportation industries, particularly railroads and steamboats. He was known for crushing competitors and exploiting workers. Cornelius Vanderbilt amassed one of the largest fortunes of his era. Despite his ruthless tactics, he transformed American transportation infrastructure and left a controversial legacy.
