• search
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Hosni Mubarak richest man in world with estimated 70 billion dollar fortune: Report

By Ani
|

London, Feb 8(ANI): Egyptian President Hosni Mubarak is likely the richest man in the world with an estimated fortune worth about 70 billion dollars.

According to the Guardian, Mubarak has money stashed in several Swiss and other foreign bank accounts, and has shadowy real-estate holdings in Manhattan, London and Rodeo Drive in Beverly Hills.

The 70 billion dollars would put the 82-year-old comfortably ahead of Mexican business magnate Carlos Slim Helu, who is worth about 53.5 billion dollars, and Microsoft founder Bill Gates, the richest American with 53 billion dollars.

According to Princeton Political Science professor Amaney Jamal, Mubarak's three-decade rule in Egypt had kept him in a perfect spot to get a piece of any government action.

"There was a lot of corruption in this regime and stifling of public resources for personal gain. This is the pattern of other Middle Eastern dictators," Jamal told ABC News.

"This is the pattern of other Middle Eastern dictators so their wealth will not be taken during a transition," he added.

Mubarak was appointed Vice President in 1975, and assumed the Presidency on October 14, 1981, following the assassination of President Anwar El Sadat.

He is the longest-serving Egyptian ruler since Muhammad Ali Pasha. (ANI)

For Daily Alerts
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more