The Monopoly Man is synonymous with everyone’s favourite Christmas family catastrophe. He appears on almost all modern Monopoly intellectual property: think the game itself, or monopoly deal, or even the McDonald’s Monopoly game. Interestingly though, he wasn’t always Monopoly’s well-loved mascot.
Table of Contents
- The Origins of Mr. Monopoly
- What is the Name of the Monopoly Man?
- Who is the Monopoly Man Based On?
- How Rich is the Monopoly Man?
- Did the Monopoly Man Ever Have a Monocle?
- Is there a Ms Monopoly?
- The Monopoly Man Summed Up?
The Origins of Mr. Monopoly
The idea of Monopoly itself can be dated back to the early 1900s. However, it only became the commercialised game we know and love in the 1930s. In 1936 he made his first appearance on chance and community chest cards, but he had no name. It was in 1946 that he became known as Rich Uncle Pennybags in the game of the same name Rich Uncle – A game about stock market competition.
While our good friend was on the scene he was still not a major part of Monopoly’s branding. 1985 was when he truly began to fulfil the role that we recognise today. Appearing in the second “O” of Monopoly on the box’s front cover. A testament to this is my parents 1975 edition – yes It’s that old – – that has no trace of the monopoly man. The familiar battleship, race car, and top hat are all there; but Mr. Monopoly is nowhere to be seen.
After his resurgence in the 90s the Monopoly Man became so successful and recognisable that he became the face of other games, such as: Dig, an unrelated game; Advance to Boardwalk; Free Parking; and Monopoly deal – all various Monopoly spin offs.
What is the Name of the Monopoly Man?
The Monopoly Man has been called many names. Commonly known as “Rich Uncle” Pennybags, he is also called the Monopoly Man and Mr. Monopoly in many parts of the world. The 1988 Monopoly Companion goes even further and tells us his first name is Milburn.
Who is the Monopoly Man Based On?
Mr. Monopoly takes his appearance and personality from two different people. First, his appearance is based on Otto Kahn, a German-born American investment banker. The Monopoly man has taken clear inspiration from his powerful moustache and hat.
As discussed previously he was first named in the game Rich Uncle. Here his personality was based on J.P. Morgan who dominated corporate finance on Wall Street throughout late 1800s and early 1900s. J.P. Morgan is known for the following:
- Founding J.P. Morgan & Co – the bank
- Co-founding General Electric; International Harvester; and U.S. Steel – utilities
- Organizing the Morgan “money trust” which dominated 21 railroads
- Being a board member on 7 Railways
There is a clear link between the owner of a bank, the owner of utilities, and the owner of railroads – all major features of the Monopoly board. Lastly, he has his hand in 42 Major Corporations in the US, monopolising many parts of US life.
How Rich is the Monopoly Man?
Back in 2006 Forbes placed Mr. Monopoly at 6th on their all-time richest fictional characters with a Net worth of $7.1 Billion. The writer of the article mentions that Mr. Monopoly has also been arrested on federal conspiracy to commit wire and securities fraud, but fortunately he got off light with a get out of jail card.
If you put the Monopoly Man’s Net worth in an inflation calculator he would be worth closer to $10.81 billion. This would put him at the 164th richest person in the world between Donald Newhouse and Ricardo Salinas Pliego, both broadcasters.
Millburn does have an advantage over these contemporaries as he does get $200 million every time he passes go, but he’d need to pass go an extra 850 times to reach Elon’s massive $180 billion stack!
Did the Monopoly Man Ever Have a Monocle?
The Monocle and Monopoly man is an interesting case of the Mandela effect; where specific false memories are shared by a large group of people. Mr Monopoly has never worn a monocle, whatever you may believe. Even though he is in his 70s his eyesight is 20:20.
The instance of this Mandela effect may have happened in a few ways.
First, In 2017, Amanda Werner, of the activist group Public Citizen dressed as Mr. Monopoly with an added monocle went viral by photobombing the CEO of Equifax.
Secondly the “Moneybags” stereotype often features a monocle. Mr. Peanut, of Planters fame, for example, wears one. The result of this is subconsciously putting one on Mr. Monopoly despite there never having been one.
Third, in the Cartoon Network hit, The Powerpuff Girls, The Mayor of Townsville has a similar hat, and moustache to Milburn.
The compounding of all of these instances have led to millions of people thinking the Monopoly Man has a Monocle, when he in fact does not.
Is there a Ms Monopoly?
Well, yes, there is, but not in the way you’re thinking. Ms Monopoly is a version of Monopoly in 2019. Ms Monopoly is actually Mr. Monopoly’s niece, rather than wife. Milburn’s wife is actually named Madge, in an official Facebook post by Monopoly’s page. I suppose she would be Mrs Pennybags in this case.
In the Ms Monopoly version of the game, Female players are awarded extra bonuses, such as a larger starting fund and extra money.
The Monopoly Man Summed Up?
“Rich Uncle” Milburn Pennybags is the Monopoly Man. Sometimes he goes by Mr. Monopoly, but we all know him as the face of the game we know and love. He was based on some very real, very rich investment bankers in the US, Otto Khan and J.P. Morgan. In a fitting tribute to his inspirations, Mr Monopoly is a billionaire in his own right – although we really wish that Forbes would update their list as 2013 is now a long time ago.
