What's new

Mubarak’s net worth estimated at USD 40 to 70 billion: report

Markus

SENIOR MEMBER
May 27, 2010
4,425
-1
3,262
Mubarak’s net worth estimated at USD 40 to 70 billion: report

Egypt’s embattled President Hosni Mubarak’s and his family’s net worth is estimated to be between U.S. dollars 40 and 70 billion, a media report said.

The wealth of the Egypt’s first family was built largely from military contracts during his days as an air force officer; Mr. Mubarak eventually diversified his investments through his family when he became President in 1981, the ABC News quoted experts as saying.

The family’s net worth now ranges from U.S. dollars 40 to 70 billion, by some estimates, the report said.

Amaney Jamal, a political science professor at Princeton, said those estimates are 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. There was a lot of corruption in this regime and stifling of public resources for personal gain,” Ms. Jamal was quoted as saying.

Ms. Jamal said that Mr. Mubarak’s assets are most likely in banks outside of Egypt, possibly in the U.K. and Switzerland.

“This is the pattern of other Middle Eastern dictators so their wealth will not be taken during a transition. These leaders plan on this,” she said.

Mr. Mubarak, his wife and two sons were able to also accumulate wealth through a number of business partnerships with foreigners, according to Christopher Davidson, professor of Middle East Politics at Durham University in the United Kingdom.

The Mubarak family owns properties in London, Paris, Madrid, Dubai, Washington, New York and Frankfurt, according to a report from IHS Global Insight.

Aladdin Elaasar, author of ‘The Last Pharaoh: Mubarak and the Uncertain Future of Egypt in the Obama Age’, said the Mubaraks own several residences in Egypt, some inherited from previous Presidents and the monarchy, and others he has built.

“He had a very lavish lifestyle with many homes around the country,” said Mr. Elaasar, who estimates the family’s wealth is between US dollars 50 and 70 billion.

The Hindu : News / International : Mubarak’s net worth estimated at USD 40 to 70 billion: report
 
^^^
If that estimate is correct Hosni Mubarak is in no danger of starving to death, even if he has to quit his present job.
Why not call it a day and go to play with your grand-children Mr. Mubarak!
 
^^^
If that estimate is correct Hosni Mubarak is in no danger of starving to death, even if he has to quit his present job.
Why not call it a day and go to play with your grand-children Mr. Mubarak!

Because the kind people who has the need to earn 40-70 billion dollars have no inclination for the things that make regular people happy.
 
Wow ...1 to 2 billion USD per year .....
What he will do with money .. he can't buy pyramids or beaches..... for him...

Or may be he is planning to make one pyramid for him ... like pharaohs and king ...
 
I sometimes feel these kind of people are Phsyco. They are not normal. What are you going to do with so much wealth when you cannot even use it.

If I even had 10 million, I would rather enjoy my life as well.
 
I don't believe it. Always there is a tendency to exagerate numbers.

I would say a lot less.

No, I'm not a supporter, just being objective.
 
Yeah I believe this is accurate, his family has properties on Rodeo Drive Beverly Hills one of the most expensive avenues in the world. He has properties in Washington, New York, couple of others in London I believe on the avenue called Knightsbridge one of the most expensive areas to purchase homes there. From his defense contracts earlier in his years as military general and Vice President with then President Anwar Sadat, to his 30 year Presidency in Egypt being corrupt and also making smart business 40-70 billion dollars in that amount time seems right.
 
Yeah I believe this is accurate, his family has properties on Rodeo Drive Beverly Hills one of the most expensive avenues in the world. He has properties in Washington, New York, couple of others in London I believe on the avenue called Knightsbridge one of the most expensive areas to purchase homes there. From his defense contracts earlier in his years as military general and Vice President with then President Anwar Sadat, to his 30 year Presidency in Egypt being corrupt and also making smart business 40-70 billion dollars in that amount time seems right.

An effective dictator he may be, but a smart investor he is not. Rodeo Drive? Washington? New York? LONDON? LONDON ENGLAND?
 

Users Who Are Viewing This Thread (Total: 1, Members: 0, Guests: 1)


Pakistan Defence Latest Posts

Back
Top Bottom