Bhrigu Samhita was written by Maharishi Bhrigu, son (manas putra) of Lord Brahmaji, the originator of this universe (brahmand). It is said that Maharishi Bhrigu went to Vekunth to take test of Lord Vishnu. Incidentally, at that time Lord Vishnu was taking rest on Shesh Nag with Devi Lakshmi. Maharishi tried to wake up Lord Vishnu from his deep sleep but when there was no response, he got angry and placed his foot on Lord Vishnu’s chest. Lord Vishnu touched his foot and said that Maharishi Bhrigu you might have hurt your feet as my body is stronger than your feet. Maharishi Bhrigu was pleased to see the reaction of Lord Vishnu, so he immediately apologized for his mistake. But Devi Lakshmi (goddess of wealth) could not tolerate this behaviour of Maharishi and cursed that he & his community (Brahmins) will be devoid of all wealth.
On hearing that entire Brahmin community would have to bear the ramifications of his actions, Maharishi Bhrigu apologised to the goddess & requested her to rethink her words. Then Devi Lakshmi suggested that Maharishi Bhrigu write a granth that can tell past, present & future of people. In this way, Brahmins will be able to earn a living by making predictions about people & their lives. This is how Bhrigu Samhita came into being.
Maharishi Bhrigu was the first compiler of predictive astrology. He compiled about 500,000 horoscopes and recorded the life details and events of various persons. These Horoscopes were based upon the planetary positions of the Sun, Moon, Mercury, Venus, Mars, Jupiter, Saturn, Rahu (North Node of the Moon) and Ketu (South Node of the Moon). After that, Maharishi Bhrigu gave his predictions on different types of horoscopes compiled by him with the help of Lord Ganesha in a brief and concise manner. In Bhrigu Samhita , Sukracharya, son of Bhriguji asks questions based on life of the people in the world and answers to these questions are given & predicted by Maharishi Bhriguji. Maharishi taught this art of predictions to his son (Shukra) and other pupils.