After taking care of Hippus, Moneybags returned to Calypso to tell him that his father will not come to his aid anymore, and that he has taken control. Over time, this curse weakened his magic abilities, making him powerless to stop Moneybags.
Hippus was unable to get out due to Moneybags placing a curse on him before he was sent to the cave, which haunted his mind with his worse fears whenever he tried to get out. There, Hippus is trapped and isolated from the rest of his kingdom, and to discover from his brother that he has been overthrown and that Moneybags had total control of the kingdom. But by that time, Moneybags appears and sends him to an underground cave the same way Chrysalis did to Twilight while taking his own crown. Meanwhile, King Hippus, wanting to read, rummages through his bookshelf, only to find something odd about the forbidden black magic book. Calypso was knocked out, and taken to an isolated prison cell where Moneybags would decide what to do with him later. Sensing this, Moneybags ordered Calypso's arrest. But unbenownst to him, Calypso, being a young filly, has overheard him, and attempted to warn his father before it was too late. He went to the kingdom gates where he bewitches the guards into serving him, and explains to them what he is prepared to do. He spent the next few years improving his abilities, and when he was sure he was ready, he went into action. He wanted to prevent this future from coming true by training more and gaining enough power to become unstoppable. In his time learning black magic, he is trained to overcome his fears. Seeing this vision, Moneybags is devastated. Then on the day of the birth of his nephew, Calypso, he improved his most favorited skill at a vast level. Unfortunately, by doing this, his own subconscious gives him a vision of his future where he is in court, being told that he will lose his privledges in royalty, he is fired from his job at the bank, he is turned into an earth pony and will never use magic again, and he is banished to Tartarus where he will forever be shamed of his own greed. So he studied more on these powers while improving himself on others. These kinds of powers he decided would be the most useful. For years, he had improved in his abilities, and has even developed a way to control people's minds by using their worst fears and using their lifelong wants to corrupt them. Since then, Moneybags began secretly studying the dark arts of black magic after sneaking a book from his brother's room, and replaced it with a fake life-like version. He decided that he should be the rightful king of Mesoequestria, and that nobody would stand in his way. Moneybags soon got bored with controlling the money of his home instead of running it. He eventually got better at helping out with money, and gained his cutie mark, a bag of money with a dollar sign on it. They instead gave Moneybags a job as a bank clerk, where Moneybags was excited to be near wealth and profit.
His parents, the current rulers, have chosen Hippus to be the next ruler since Moneybags was too unfit for ruling a kingdom due to his arrogance and greed. Prince Moneybags was born as a prince in Mesoequestria's Underground Kingdom with his brother, Hippus. He is not afraid to cause his most disloyal subjects to suffer under his black-hearted rule. Then he traps his brother into the underground caves of the kingdom where no escape was possible, and stole his power. He even curses his young nephew, Calypso, into forgetting about his plans for Mesoequestria, and banishes him far away to the surface where no one could find him. He plans to become wealthy and gain power by ushuring his brother's crown and levying evil and unfair taxes, causing Mesoequestria to enter a state of Great Depression. He is the brother of Mesoequestria's unicorn ruler, King Hippus. Moneybags is basically the Mesohippus version of King Sombra, who knows black magic far worse than any other pony in Equestria.
Prince Moneybags Mojo is a greedy unicorn Mesohippus from Mesoequestria, the underground Equestrian world of extinct early ponies from the Windigo Ice Age 30-40 million years ago.
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