WARNING! This post contains minor SPOILERS for House of the Dragon episode 2.While the Lannisters are notable for their vast wealth in Game of Thrones, House Velaryon is much richer in House of the Dragon’s timeline. As is the case in the real world, money buys power in the universe of Game of Thrones, and – more importantly – proximity to the Iron Throne. Alongside their roots in Old Valyria before the Doom and long-standing alliance with the Targaryens, being the wealthiest family in Westeros is what gives House Velaryon the majority of its power in House of the Dragon.
Due to the family’s wealth, House Lannister’s unofficial motto is “A Lannister always pays his debts” (their real words are “Hear Me Roar”). Game of Thrones explained that the Lannisters became rich through the gold mines of Casterly Rock, which have continually allowed the Lannisters a rich place at court and influence among the Great Houses. However, there came a time when another family, the Velaryons, achieved wealth that surpassed the gold of the Lannisters, with this era taking place during House of the Dragon.
The Lannisters are still known as the wealthiest of the Great Houses for the majority of Westerosi history, but Corlys Velaryon confirms that his house took this title long before House of the Dragon episode 2. While House Velaryon had already been close to the Targaryens, it wasn’t until Corlys became the Lord of the Tides that the family truly had power in the realm. On his Nine Voyages to Essos, Corlys sailed on record-breaking trips that saw him become the first Westerosi to navigate the Thousand Islands and visit Nefer and Mossovy. Through these voyages, the Sea Snake loaded ships with gold, silks, treasures like jade, silks, and spices, and even elephants, which made the Velaryons richer than any other family in the realm – including the Hightowers and Lannisters. Of course, the Lannisters reclaim their title once the Velaryons lose their wealth after House of the Dragon’s ending, but during season 1, the Velaryons take top spot.
Warning: Spoilers ahead for Fire & Blood!
What Happens To The Velaryons’ Wealth After House Of The Dragon
House Velaryon’s wealth essentially sinks with Corlys Velaryon. When Corlys dies of old age after House of the Dragon, his family’s primary influence has died, as the majority of the key players in House Velaryon died during the Dance of the Dragons. After Corlys’ death, his legitimized bastard grandson (or son, if the rumors are true) Alyn Velaryon becomes Lord of the Tides, but he lacks much of the political strength and power of the Sea Snake.
It seems House Velaryon’s wealth becomes truly crippled (as Corlys feared in House of the Dragon episode 2) when Alyn negotiates for the release of Rhaenyra and Daemon Targaryen's son Viserys after the Dance of the Dragons. In order to bring Viserys back home to his brother King Aegon III Targaryen, Alyn had to surrender much of the family’s wealth to the Rogare Bank. When Alyn became lost at sea, House Velaryon’s family wealth and power never recovered, and would never compare to that obtained by Corlys in House of the Dragon.
The loss of House Velaryon’s wealth may have been a good sign for the Lannisters in regaining their power through gold, but HBO’s Game of Thrones hints this may not hold. Tywin revealed to Cersei that their gold mines had run dry and they had outstanding debts to the Iron Bank, though Cersei later pays this off with gold stolen from the Tyrells. Tyrion is the last major player from House Lannister after Game of Thrones’ timeline, and with his priority being his position as Hand of the King, his family could see a downfall in wealth similar to that of House of the Dragon’s Velaryons.
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