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![]() The Mubarak Family’s Wealth
As masses of protestors take to the streets of Cairo to oust President Hosni Mubarak, his personal wealth is likely remain intact when he leaves office.
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Sunday, February 6,2011 13:37 | ||||||||||||
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Sources say that Gamal Mubarak’s private wealth is 17 billion dollars which is spread in banks in Switzerland , Germany , the US and the United Kingdom . Susan Mubarak became a member of the club of billionaires in 2000 as her personal fortune amounts to billions of dollars as well as property in London , Frankfurt , Madrid , Paris and Dubai .
With the Egyptian economy losing millions of dollars a day because of protests set to oust the corrupt dictator Mubarak, transferring just a portion of the Mubarak family’s wealth back to the Egyptian people would set things aright. Moreover, channelling all the money taken illegally from the Egyptian people who set the nation on the path to prosperity, removing it from the corruption and poverty in which it has lived under the Mubarak family era.
As masses of protestors take to the streets of Cairo to oust President Hosni Mubarak, his personal wealth is likely remain intact when he leaves office. Middle East experts believe the Mubarak family has accrued great wealth largely from military contracts. It is also believed that Mubarak accumulated wealth through a number of business partnerships with foreigners, as Egyptian law requires that foreigners give a local business partner a 51% stake in most ventures. This means a lot of wealth with no need for initial outlay and little risk. When Mubarak became president in 1981, he diversified his investments and the family's net worth now ranges from $40 billion to $70 billion, by some estimates which means his wealth is comparable to that of leaders of Gulf countries. |
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tags: Mubarak / Mubarak Regime / NDP / Middle East / Corruption / Gamal Mubarak / Egyptian People / Poverty / / Gulf Countries / Susan Mubarak / Alaa Mubarak / Ahmad Ezz / Egyptian People /
Posted in Other Issues |
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