Timbuktu was the capital of the Ghana Empire in the 12th century, until its takeover by the Moors' Almohad Dynasty. The city was wealthy and was one of the richest cities in the empire, a center of gold and ivory trade.
Timbuktu was originally the capital of the Ghana Empire, and was a Shangri-la of merchants, selling gold and ivory. When the Almohads took it over, they made $5,000 florins per year, and were in charge of one of the greatest cities in the world. However, the Mali Empire eventually conquered it, and is currently the capital of Mali.