The Richest Man of Rome Who Was Destroyed by His Own Greed

Crassus was a general and statesman who became the richest man in Rome and one of the wealthiest in the ancient world through his cunning, business acumen, and ruthless ambition. However, in the end, it was his insatiable greed that brought about his downfall.

As a politician, Marcus Licinius Crassus contributed to the turning of Rome from a Republic to an Empire. He was the strong statesman who crushed the slave revolt led by gladiator Spartacus in the Third Servile War (or Gladiators’ War). That alone established him as a powerful statesman, able to lead a war against Rome’s enemies.

Crassus (c. 115 BC) was not born with a silver spoon in his mouth. According to ancient Greek historian Plutarch, in his book The Parallel Lives, his family “lived in a little house.“ His father, Publius Licinius Crassus, was consul in 97 BC, a commander in Iberia (Spain), and was honored with a triumph, Rome’s highest military honor, in 93 BC.

In 87 Crassus was forced to flee Rome when Gaius Marius captured the city and his father was killed because of his opposition to Marius. He went to Spain where his father had many friends. He stayed there until 83, managing to recruit 2,500 soldiers. He used his military force to extort money from locals to finance his campaign.

Crassus’ rise to power

As a young officer now, Crassus supported General Lucius Cornelius Sulla with his men during the civil war (83-82) between Sulla and the followers of Marius. Returning to Rome in 82, his forces fought in the Battle of the Colline Gate, which would end the civil war between Marius and Sulla, with the latter seizing power. Meanwhile, Crassus was amassing all the spoils from the battles his army won.

Joining forces with Sulla, Crassus held the praetorship c. 73, and in 72-71 he put down the slave uprising led by Spartacus. However, it was General Pompey who managed to take the credit. Crassus and Pompey cooperated to pressure the Senate to elect them to the consulship for 70; once in office they overthrew parts of Sulla’s constitution.

From then on, Crassus took advantage of Pompey’s continuous campaigns and military victories abroad to establish his own political power in Rome. Now his ambition to become the richest man in Rome was made easier.

The Roman profiteer

Crassus put his political power to work to grow his wealth. First, he cleverly used properties of Marius’ followers that were confiscated by Sulla, selling them for profit, and extending credit to indebted senators, including the young Julius Caesar. This way he amassed great wealth from real estate.

Crassus is said to have made part of his money from proscriptions, notably that of one man whose name was not initially on the list of those proscribed but was added by Crassus, who coveted the man’s fortune.

He also took advantage of houses that were burned, buying them cheap and rebuilding them to sell at higher price. Rome’s insulae (apartment blocks) were built very close to each other and once one caught fire, whole blocks would burn down. Crassus would also buy adjacent houses that were intact as the owners would fear possible future fires. He would take burnt and collapsed insulae and use his 500 slaves to rebuild them and sell them as new. It was no coincidence that many of his slaves were architects and builders.

In his own interest, Crassus created Rome’s first ever fire brigade with 500 men. Since fires were a frequent occurrence, the firemen would rush to the burning buildings. However, they did nothing to put out the fire because Crassus was already negotiating with the owners to buy the property at rock bottom prices. Those who refused to sell saw the  “firemen” let the building burn down. Once rebuilt, Crassus would rent them to new tenants or even to the previous owners.

Crassus’ most conventional ways of making money were slave trafficking, production from silver mines and speculation in real estate.

According to Pliny, Crassus’ wealth was estimated at approximately 200 million sesterces. Plutarch, in his Life of Crassus, says the wealth of the richest man of Rome increased from less than 300 talents to 7,100 talents. This was equal to 229 tons of silver, worth about US $240 million at January 2025 silver prices. That was right before his Parthian expedition. Plutarch says that Crassus made his fortune “by fire and war, making the public calamities his greatest source of revenue.”

The end of the richest man in Rome

In 60 BC, Crassus, Pompey and Julius Caesar formed the First Triumvirate. Crassus used the coalition to pass laws in the Senate that helped his business ventures in Asia.

While his fortune was growing, his political ambitions dictated that he should neutralize Pompey’s power. The differences between the two men were reconciled at a meeting of the three leaders at Luca, Etruria, in 56, and in the following year they were both again made consuls.

In 54 Crassus became governor of Syria. In an effort to gain military glory to match that of Pompey, and seeing Caesar defeating the Gauls, a year later he embarked on a campaign to invade Parthia to the east. It was an unwarranted campaign that cost him much more than he had bargained for.

Crassus led the Roman legions, mostly heavy infantry, into the desert where they couldn’t match the mighty Parthian cataphracts and mounted archers. The two armies met at Carrhae where the Parthians obliterated the Roman forces and captured those who surrendered. They also captured the eagle standards, the most prized possession of the Roman legion. Crassus fell into captivity and was killed by a Parthian general. There is a rumor that the Parthians killed him by pouring molten gold into his throat, but this is probably a legend implying a fitting punishment for the greedy richest man of Rome.