Mubarak family fortune could reach $70bn, say experts

[cali]

Mubarak family fortune could reach $70bn, say experts


President Hosni Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by Middle East experts, with much of his wealth 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.

After 30 years as president and many more as a senior military official, Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels.

According to a report last year in the Arabic newspaper Al Khabar, Mubarak has properties in Manhattan and exclusive Beverly Hills addresses on Rodeo Drive.

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.

<snip>

http://www.guardian.co.uk/world/2011/feb/04/hosni-mubarak-family-fortune

[no_hypocrisy]

1. How much of it came from our annual stipends for "aid"?

[KansDem]

2. As it should: "Dictatorin' is hard work!"

:sarcasm:

[JuniperLea]

3. I wonder how many pairs of shoes his wife has...

This is some sort of evil deja voodoo.

[BOG PERSON]

4. like they say,

no man is poor who has friends. or alternatively, %70 billion.

[cutlassmama]

5. And he wonders why the poor of Egypt hate him. The gap between

the have's and have not's is ever growing. Also, resentment is growing. No doubt a lot of that fortune came from the U.S. aid to Egypt. How many homeless Americans could that money have saved? I'm betting A LOT!

[JDPriestly]

8. I hope we l;earn from this the lesson that we cannot buy friends

or security. We have to build trust on mutual respect, not on purchasing power.

[Badfish]

6. If true..

he would be in a tie for richest on the planet.

I don't believe these giant numbers being thrown around , most likely propaganda to incite the people.

http://www.forbes.com/lists/2010/10/billionaires-2010_The-Worlds-Billionaires_Rank.html

[TBF]

7. Interestingly $70Bn could build low-income housing for all of our homeless.

Priorities I guess ...

[xchrom]

9. what ever -- he isn't going leave there any where near broke. nt