In fact, Columbus had the confidence, tact and charisma to fend off a near-mutiny by convincing his crew that newly sighted birds and floating vegetation meant Asia was (literally) over the horizon. At the same time, all Ferdinand and Isabella risked was investment capital but could benefit tremendously from the upside potential.
Even after granting all of Columbus’ demands, Spain still retained seven-eighths of any returns from the first voyage, and seven-eighths of any returns from subsequent voyages. Ferdinand and Isabella’s risky venture paid off handsomely. The mineral wealth extracted from the New World laid the foundation for Spain’s domination of Europe for the next century.