After Crassus, Pompey, and Caesar formed the alliance of the First Triumvirate in 60 BC, they gave Ptolemy XII the title of "friend and ally of the Roman people" for his efforts in financing Pompey's eastern campaigns and Rome's conquests of West Asian territories which had belonged to the Seleucid Empire.[61][62] The title cost 6,000 talents, nearly the entire annual tax revenue of Ptolemaic Egypt.[63][64][note 12] Ptolemy XII's profligate behavior bankrupted him, and he was forced to acquire loans from Roman banker Gaius Rabirius Postumus.[65][66][63][note 13] His increase of the tax rate to pay for these expenditures angered the poor and led to strikes by farmers.[65][66]