Adele Spitzeder, born into operatic royalty, washed up when she tried a career on the stage: so instead, she started accepting bank deposits for 10% monthly interest, and paying old customers with new customers' money. In three years, she amassed deposits of 38 million Gulden, or the equivalent of more than 500,000,000 euros: the world’s first Ponzi scheme. Attempts to squirrel away some money by smuggling it with her girlfriend went about as well as expected.

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SOURCES:

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Dokumentation, Österreichisches Biographisches Lexikon und biographische. “Spitzeder, (Johann) Josef.” Text. ISBN 978-3-7001-3213-4. Verlag der Österreichischen Akademie der Wissenschaften, 2003. https://www.biographien.ac.at/oebl/oebl_S/Spitzeder_Josef_1794_1832.xml.

Freiberger, Harald. “Geld - Adele Spitzeder und ihr Schneeballsystem.” Süddeutsche.de, November 11, 2017. https://www.sueddeutsche.de/muenchen/schneeballsystem-es-begann-in-der-au-1.3743735.

“Germany - Metternich, Unification, 1815-71 | Britannica,” February 18, 2025. https://www.britannica.com/place/Germany/The-age-of-Metternich-and-the-era-of-unification-1815-71.

Schumann, Dirk. “Der Fall Adele Spitzeder 1872: Eine Studie Zur Mentalität Der ‘Kleinen Leute’ in Der Grübderzeut.” Zeitschrift Für Bayerische Landesgeschichte 58, no. 2/3 (1995): 991–1025.

Spitzeder, Adele. Geschichte meines Lebens. Stuttgarter Verlagscomptoir, 1878.

Zeno. “Lexikoneintrag zu »Spitzeder-Vio, Betty«. Damen Conversations Lexikon, Band 9. [o.O.] ...” Accessed February 18, 2025. http://www.zeno.org/DamenConvLex-1834/A/Spitzeder-Vio,+Betty.

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