Egypt: Mubarak Worth More Than $70 Billion

Discussion in 'Economics' started by bearice, Feb 7, 2011.

  1. Egyptian President Hosni Mubarak and his family have amassed a fortune estimated at $70 billion according to analysis by Middle East experts poll by the London Guardian. And very little of that stash is kept in his own country, they say. Much of his wealth is in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast.

    His sons, Gamal and Alaa, are also billionaires. A protest outside Gamal's ostentatious home at 28 Wilton Place in Belgravia, central London, highlighted the family's appetite for western trophy assets.

    Amaney Jamal, a political science professor at Princeton University, told the Guardian that the estimate of $40 billion to $70 billion was comparable with the vast wealth of leaders in other Gulf countries.

    "The business ventures from his military and government service accumulated to his personal wealth," she told ABC news. "There was a lot of corruption in this regime and stifling of public resources for personal gain.

    http://www.newsmax.com/InsideCover/hosni-mubarak-egyptwealth/2011/02/04/id/385057%3Fs%3Dal
     
  2. Goes to show how stupid these richest men in the world lists are.

    Richest men in the world who want their name in the list, that is.
     
  3. pupu

    pupu

    That's it?

    LOSER!

    Should have learned from the late Yaser Arafat who directly funneled hundreds of millions from the 'Palestinian authority' to his Swiss bank accounts
     
  4. Pekelo

    Pekelo

    Because millions are obviously more than billions....
     
  5. he could probably have 3 times that amount of money. They just guesstimate a figure based on egypts GDP and how long he has been in power...how can they really know what he has?
     
  6. Thats a lot of Baba ghanoush!
     
  7. Visaria

    Visaria

    "A protest outside Gamal's ostentatious home at 28 Wilton Place in Belgravia, central London, highlighted the family's appetite for western trophy assets."

    You can have a look at this on streetview on google maps. End of terrace house, quite a few floors. £5-10 million maybe?
     
  8. olias

    olias

    lol