• Security incident: ISF was recently accessed by intruders. Please change your password, and change it anywhere else you used it. Read more

Richest man/family in the world

FireGarden

Philosopher
FireGarden
Joined
Aug 13, 2002
Messages
5,047
I think the Forbes list excludes heads of state and royalty.

I would guess that King Abdullah of Saudi Arabia is richer than Mubarak.
 
FireGarden said:
Blimey, there's an economics forum! I thought I'd get your views on the following.

Forbes list, #1 Carlos Slim Helu & family:
http://www.forbes.com/lists/2010/10/billionaires-2010_Carlos-Slim-Helu-family_WYDJ.html

$53.5 billion


How likely is it that Mubarak and family are actually richer than that?
Mubarak family fortune could reach $70bn, say experts
http://www.guardian.co.uk/world/2011/feb/04/hosni-mubarak-family-fortune
with estimates of 40-70 billion.
Click to expand...

He can "own" all the wealth of Egypt when he's there. The question is, how much of it will he have access to when he leaves? That will be his true worth (assuming, of course, he's actually able to keep any of it).

ETA: And, as pointed out above, heads of state don't count.
 
Last edited:
The Telegraph is a bit more cautious in estimating Mubarak's wealth:
http://www.telegraph.co.uk/news/wor...t-18-days-in-power-to-secure-his-fortune.html

Telegraph said:
The former Egyptian president is accused of amassing a fortune of more than £3 billion - although some suggest it could be as much as £40 billion - during his 30 years in power. It is claimed his wealth was tied up in foreign banks, investments, bullion and properties in London, New York, Paris and Beverly Hills.

In the knowledge his downfall was imminent, Mr Mubarak is understood to have attempted to place his assets out of reach of potential investigators.

[...] a senior Western intelligence source claimed that Mubarak had begun moving his fortune in recent weeks.

"We're aware of some urgent conversations within the Mubarak family about how to save these assets," said the source, "And we think their financial advisers have moved some of the money around. If he had real money in Zurich, it may be gone by now."
Click to expand...
 
I think those upper estimates are premised on the idea that he just funneled all foreign aid right into his own bank accounts. I doubt that happened. So the lower estimates are most likely the more accurate ones.
 
Travis said:
I think those upper estimates are premised on the idea that he just funneled all foreign aid right into his own bank accounts.
Click to expand...

It's premised on things like this:
http://www.guardian.co.uk/world/2011/feb/04/hosni-mubarak-family-fortune

Guardian said:
He said most Gulf states required foreigners give a local business partner a 51% stake in start-up ventures. In Egypt, the figure is commonly nearer 20%, but still gives politicians and close allies in the military a source of huge profits with no initial outlay and little risk.
Click to expand...
 
FireGarden said:
The former Egyptian president is accused of amassing a fortune of more than £3 billion - although some suggest it could be as much as £40 billion - during his 30 years in power.
Click to expand...

My question is... why? There's only so much bullguano one can buy for one's self, and one's family. Once you have £3 billion, what makes someone feel they need £37 billion more?
 
You must log in or register to reply here.

Share this page

ISF - Join now!

Every member here is approved by hand. No bots, no spam, just people who care about evidence and honest debate.

Membership is free!

Create your free account

Back
Top Bottom