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Egypt's Mubarak may be richer than Bill Gates

Discussion in 'International Forum' started by Edward Teller, Feb 12, 2011.

  1. Edward Teller

    Edward Teller JF-Expert Member

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    Feb 12, 2011
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    [FONT=&quot]There are no Mubaraks on the Forbes list of the world's richest people, but there sure ought to be.[/FONT]

    The mounting pressure from 18 days of historic protests finally drove Egyptian President Hosni Mubarak from office, after three decades as his nation's iron-fisted ruler. But over that time, Mubarak amassed a fortune that should finance a pretty comfortable retirement.

    The British Guardian newspaper cites Middle Eastern sources placing the wealth of Mubarak and his family at somewhere between $40 billion and $70 billion. That's a pretty good pension for government work.

    The world's richest man--Mexican business magnate Carlos Slim--is worth about $54 billion, by comparison. Bill Gates is close behind, with a net worth of about $53 billion.

    Estimates of Mubarak's wealth will probably be hard to verify, if not impossible (one reason dictators tend not to make it onto Forbes's annual list). His money is certainly not sitting in an Egyptian vault, waiting to be counted. And his delayed exit may have allowed Mubarak time to move money around and hide significant parts of his fortune.

    The Swiss government has said it is temporarily freezing any assets in Swiss banks that could be linked to Mubarak, an uncharacteristically aggressive move for the secretive banking nation. But that doesn't mean the money will ever be returned to the Egyptian people, and it may even find its way to Mubarak eventually.

    Other Mubarak funds are reportedly sitting in British banks, and Mubarak was no doubt wily enough to squire away some cash in unlikely places. Plus, an eventual exile deal could allow Mubarak to retain some of his wealth, no questions asked, as long as he and his family leave Egypt and make no further bids for power.

    Epic skimming is a common privilege of Middle Eastern despots, and Mubarak and his two sons, Gamal and Alaa, were a bit less conspicuous than some of the Saudi princes and other Middle Eastern royals seen partying from time to time on the French Riviera or other hotspots. The family does reportedly own posh estates in London, New York, and Beverly Hills, plus a number of properties around the Egyptian resort town of Sharm El Sheikh, where Mubarak reportedly went after resigning the presidency.

    Mubarak also spread the wealth far and wide in Egyptian power circles--another Middle Eastern tradition--one reason he incurred the kind of loyalty that allowed him to rule for a remarkable three decades.

    Top Army officials were almost certainly on his payroll, which might help explain why the Army eased him out in the end--allowing a kind of in-country exile--instead of hounding him out of Egypt or imprisoning him once it was clear the tide had turned against him for good.
     
  2. Mallaba

    Mallaba JF-Expert Member

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    So! If MUBARAK has between 40-70 BILLION DOLLARS, why does ths USA send 1 BILLION in AID to EGYPT every year??? 1 BILLION the USA does NOT even have. We are 14 TRILLION in DEBT.
     
  3. Mallaba

    Mallaba JF-Expert Member

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    Mubarak certainly new that the end had come for him, the delay to call it quits was a tactical way to wipe up his dirty behind and find out a clean way of hiding all the money that he stole during his stay in power. However, let it be known to him and all his pathetic African dictators that the winds of change have come to stay, especially to one of the most hated and richest dictator Mugabe who has been robbing the people of Zimbabwe since 1980. He could be the richest man on earth, but he is going to pay dearly for all that he has done to Zimbabweans. Mubarak should go to jail. I salute the Egypticians for having managed to show the world the staff they are made of. Long life to all the Egypticians. Amen. Mugabe is next........ I can't wait for that day.
     
  4. S

    Societa Jesuit JF-Expert Member

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    Feb 12, 2011
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    Oooh...why was I born in Africa ingawa sipendi kuishi ulaya mapesa yote haya anamiliki mtu mmoja???? najisikia nyege za kutaka kutukana....ok the One forgive me for what I AM:thinking: on thtis issue.
     
  5. Edward Teller

    Edward Teller JF-Expert Member

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    namin wapo weng wa mtindo huu-sema mambo hayapo waz-la sivyo ingekuwa hapatoshi-hapa TZ kuna ile sheria inayowataka viongoz kutangaza mali zao-ila hawafanyag-coz wanajua watakuwa wanadanganya taifa,na wanaweza kuumbuka
     
  6. drphone

    drphone JF-Expert Member

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    kweli ni balaa kwa bongo angesema ni vijisent tu
     
  7. Edward Teller

    Edward Teller JF-Expert Member

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    misaada mingi ya usa to egypt ipo ki-military zaid

    The United States has given Egypt an average of $2 billion annually since 1979, much of it military aid, according to the Congressional Research Service. The combined total makes Egypt the second largest recipient of U.S. aid after Israel.


    The White House said on Friday it would review U.S. aid to Egypt based on events in the coming days amid mass protests aimed at ending President Hosni Mubarak's 30-year rule.
    Here are some facts about the aid:

    In 2010, $1.3 billion went to strengthen Egyptian forces versus $250 million in economic aid. Another $1.9 million went for training meant to bolster long-term U.S.-Egyptian military cooperation. Egypt also receives hundreds of millions of dollars' worth of excess military hardware annually from the Pentagon.

    -- The Obama administration has asked Congress to approve similar sums for the 2011 fiscal year
    .
    -- U.S.-Egyptian co-production of the M1A1 Abrams Battle tank is one of the cornerstones of U.S. military assistance. Egypt plans to acquire 1,200 of the tanks. General Dynamics Corp is the prime contractor for the program.

    Lockheed Martin Corp is building 20 new advanced F-16C/D fighter aircraft for Egypt. The final Egyptian F-16 under contract is to be delivered in 2013, joining the 240 Egypt already has purchased, according to Lockheed Martin, the Pentagon's biggest supplier by sales.
    -- Egypt was the first Arab country to buy F-16s, widely viewed as a symbol of political and security ties with the United States.

    The United States also has supplied Boeing Co CH-47D CHINOOK transport helicopters, Northrop Grumman Corp E-2C Hawkeye Airborne Early Warning Command & Control aircraft and Patriot air-defense systems built by Lockheed and Raytheon Co.

    -- Part of U.S. economic aid is spent on democracy promotion programs in Egypt, a policy that has generated controversy in recent years. "On principle, the Egyptian government rejects U.S. assistance for democracy promotion activities, though it has grudgingly accepted a certain degree of programing," Jeremy Sharp of the Congressional Research Service said in a background report updated on January 28.
    Reuters
     
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