Mubaraks Have an Estimated Net Worth of $40 - $70 BILLION Dollars

George Washington's picture

Washington’s Blog

It pays well to be a dictator who terrorizes his people with U.S. backing.

As ABC News reports:

"He
had a very lavish lifestyle with many homes around the country," said
[Aladdin Elaasar, author of "The Last Pharaoh: Mubarak and the Uncertain
Future of Egypt in the Obama Age], who estimates the family's wealth is
between $50 billion to $70 billion.

Remember, two of the men listed as the second and third richest Bill Gates and Warren Buffet - have $53 and $47 billion, respectively.

It's not just Mubarak. ABC writes:

The family's net worth ranges from $40 billion to $70 billion, by some estimates.

 

Amaney Jamal, a political science professor at Princeton, said those estimates are comparable with the vast wealth of leaders in other Gulf countries.

 

"The business ventures from his military and government service
accumulated to his personal wealth," said Jamal. "There was a lot of
corruption in this regime and stifling of public resources for personal
gain."

 

***

 

Jamal said that Mubarak's assets are most likely in banks outside of Egypt, possibly in the United Kingdom and Switzerland.

 

"This is the pattern of other Middle Eastern dictators so their wealth
will not be taken during a transition, she said. "These leaders plan on
this."

The politicians in Washington, D.C., make dictators and giant banks rich, at our expense. Too bad they are not helping the American - let alone the Egyptian - people.

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dogbreath's picture

mubarak will probably claim he is a poor man and madoff screwed him of his meager retirement fund

cranky-old-geezer's picture

So what.

Next article.

ebworthen's picture

 

GW

I retract what I said yesterday about Sean Hannity and Rush Limbaugh thinking about the issue; both today were dropping hints that this was all a plot of the Muslim Brotherhood and Barrack Obama.  Duh.  I was wrong.  Duh and...

Ugh!

How shortshighted.

Let us pretend they are right and this is all a plot; what better opportunity for the U.S.A. to come out and say to the moderates in Middle Eastern societies that we as a people and nation believe in the inalienable rights of the individual to life, liberty, and the pursuit of happiness?

Opportunity lost.

Ayatollah of Iran stole our thunder and beat us to it and spoke out in favor of the Democracy protestors.  Risky, but smart to beat us to the punch; it is all about perception and allegiance to the perception.

U.S.A. fail, sadly.

 

nmewn's picture

ebworthen,

Well stated...the language of diplomacy is a foreign one it seems to liberty. Yes, he was an ally and now other allies look at us kicking yet another ally to the curb. 

The bureaucrats were allowed plenty of time for "diplomacy" to work it's "magic". Plenty of time to say hey Mubi baby...this whole enriching yourself through the apparatus we helped you set up is kinda antithetical to what we were founded on.

But they didn't.

Don't let the junks bug you eb...ZH is international...remember, there are people who don't believe or refuse to think like we do. 

ebworthen's picture

If you are going to junk at least leave a rebuttal...

BigDuke6's picture

Fuck the junkers.

You are right - USA is fucking it up again.

Cant help but prop up tin pot dictators - just watching 'Under Fire' about Nicaragua at the moment.  Dumb.

Let it all fall down as it may and let israel look after itself.  they'll be fine and need to stand on their own 2 feet eventually.  Its a luxury US cant afford.

Motorhead's picture

Gee, sounds like a normal day of Goldman Sachs bonuses.

satansanus's picture

how many billions do the wealthier countries leaders have in secret?

satansanus's picture

God is killing him right now. Not one penny will he spend. His name is permanently destroyed. A Dead loser. Just like buffet and the american thieves, death stalks them ALL DAY

nmewn's picture

No telling if it's real or not...or if the person who put it up was ever arrested for harassment or inciting a riot ;-)

But here's the text in English;

Letterhead: Department of the Interior - Office of the Minister
Instruction A No. 7/b/53
Important and secret

(Translator's note: top left one illegible handwriting, signed "Abd" then Griri) [1]

Subject: how to thwart demonstrations - Strategies

- Authorize the demonstrations in towns and villages in the republic, and as of this .. (white). Do not stop their march. Take great care not to open fire with live ammunition, bullets in white, tear-bombs except express orders of the officer (specialist) according to the instructions you were given.

- Recruit a number of skilled hands-thug (ndt: here an Egyptian dialect term "Baltagiia" which means thug alternate limit), pay them well, meet in their villages in the center of events, in secret, without official form, the Briffa on their deployment according to the instructions on Schedule b1, informing them of the time of surgery, and how to spread chaos progressive as explained in the statement.

- Monitor all members of political parties and organizations in coordination with the means of written press, publishing, telecommunications means; record all communications, letters, outgoing and incoming, synthesize and transmit as soon as you receive them.

. The interruption of the Internet will be effective parir from 6am on Friday 28/01/11 with maintaining the backhaul is why it is necessary that the officers and members use the facility Telecom manuals and ensure that 'they are in good working condition.

. Procedure by police and secret service (special) in civilian clothes, see appendix B2.

. Steps to stop the 28/01/11 and prohibiting Place Attahrir according Annex b3.

. Ensure that police are plainclothes armed with sticks, clubs, small bars of iron (manual) to intercept the leading events without giving the impression of violence.

. Use blank bullets (rubber) and bombs tear-avoiding ammunition except in cases of extreme necessity.

. Reveal the incapcité police from 16H Friday 28/01/11 to believe in the success of the events and let the elements of "bund 2 'to unfold as part wreak havoc with the tactics approved them.

The total discharge of the police central traffic police, all the forces responsible for surveillance and protection of government buildings, corporations and institutions, which forces must be put in civilian clothes and put on roadsides, behind the trees, mingling with the crowd of protesters mingled with parked cars, without showing (or reveal) their cards, and without protest on the streets unless the order is given to them .

. Spread looting and theft of information through all available media, prior to loading the feminine elements, with emphasis on fear and crying, according to the technique of propaganda you have been exposed.

. Send letters direct or indirect (leaflets) to all foreign media, especially the closer events, to inform them of theft bank robberies looting stores to police stations in synchrony with the actions of chaos "bund2," all this to create a climate of terror in the streets and generally push people to seek protection from the army and police ...

Send mails directly or indirectly through the media inside and outside encouraging the formation of neighborhood militias for protection of property, this to the demonstrators insite to return to their places of origin without using force against them.

. Spreading false news and false news for the media abroad and have it corrected later by the national media, that to get confidence in general, not to mention the prestige of these foreign media from domestic media.

. Sprinkle heavily on information chaos across all media, domestic and foreign, on escapes of prisoners who spread terror in the districts of residence.

. Ask the people through all media to form committees responsible for monitoring day and night on neighborhoods, that such requests are made by female voices belonging to the police, according to our findings at our last meeting.

. Follow the field and we see the number of demonstrators, their places of concentration, so we send the "bund 2" and so remove the seats of the demonstrators.

For your eyes only dahling, but it reads like something put together by Common Cause at the local Starbucks...LOL.

geno-econ's picture

Most dictators are crooks especially in MiddleEast. The game is to pay off the appropriate Ministry in order to obtain  right to import. The money is then distributed according to hierarchy with funds deposited in Swiss and other offshore banks used to pay for purchase of assets, family educations, investments, entertainment etc.  Western firms are of coarse eager to cooperate utilizing "consultants"  merchant banks and brokers to mask transactions. Governments are not blind to these transactions and therefore fearful of whistleblowers and Wikileak type organizations. Another good example was Arafat whose estate was reportedly valued at more than $2 billion. No one asked how did he earn that much, perhaps because it was paltry in comparison to Mubarak and no one tries to retrieve the stolen stach.  Go- GO Wikileaks but stay away from State and military secrets  .

falak pema's picture

He earned his wealth by selling sand from the desert to the US dept of State and CIA for thirty years at the price of USD/Ounce of gold. So he knew how to do business; to be friend of the friends of the US of A. Thirty years and then the drought arrives... Only 5% of Egypt's territory produces to feed 100 million people, (by 2025). The rest is ARID. This is the real challenge of tomorrow. So you can see whoever takes over now will have his work cut out. Especially if the US of A decide not to buy sand at price of gold. (They're totally broke as we all know). So, hard times in Cairo café down the road. Unless they get oil rich pretty fast. Nobody will escape the geopolitical change in region that is coming now. Oil wealth held by tiny plutocracy in whole region, democracy now giving power to hungry population in millions means dynamite on regional scale. BADABOUM times ahead!

sgt_doom's picture

Mucho Thanks for this, GW.

Of course, no truly self-aware person believes those Forbes and Fortune listings.  Anyone familiar with forensic accounting and forensic econ, or has read Ferdinand Lundberg's work, certainly comprehends that the billionaires of North America (and most probably elsewhere) long ago sheltered and hid their extensive fortunes and holdings in foundations, trusts, offshore finance centers and the like (along with those endless holding companies to hide ownership, and SPVs and SIVs to hide both debt and capital).

Gates and Buffet are waaaaay down there, the Rockefellers, Morgans and Du Ponts still rule supreme, and I wouldn't be surprised if the Rothschilds are still on top (haven't ever researched them, other than to realize they have intermarried with the Rockefeller clan).

AchtungAffen's picture

"The politicians in Washington, D.C., make dictators and giant banks rich, at our expense. Too bad they are not helping the American - let alone the Egyptian - people."

 

It's really easy to blame it all on a group. Be it the "elites", the "banking cartel", "politicians" what have you. But what I rarely see is some mea culpa. Because, different from other parts of the world, people in the US have been electing representatives continually for a long long time. For a long time too the US has embarked on the road of deregulation-privatization, same it applied in other parts of the world (Latin América, until emancipation - where it happened; now Egypt, for example). And all of that was very much supported by the US population. So now you're faced with the consequences of the model you've all been defending for such a long time, and those are ugly fuckers. It's not only the politicians, only the bankstas, etc... it's a shared guilt, of people who adhered to the debt is wealth model with a grin and an LCD TV and those debt based guns used to support the same deregulation-privatization model that gave him such a good loan (until it sopped being half as good as he thought...).

sgt_doom's picture

Yes, and no.  Some of us have been battling this since at least the '70s.

Three political action groups, and one highly intelligent government analyst, predicted exactly what would happen during the first decade of the 21st century in America (not difficult, given the obvious trends back in the late 70s with deregulation, privatization, jobs offshoring and securitization).

I recall this as I was with one of those PAGs.  But fundamentally, you are correct, the majority of duffases are guilty.

topcallingtroll's picture

Amazing. I hope they bugger his ass on the way out. I hope the swiss will be good guys this time and.give it back to egypt.

topcallingtroll's picture

Amazing. I hope they bugger his ass on the way out. I hope the swiss will be good guys this time and.give it back to ehypt.

Ahmeexnal's picture

Yes, that's what a third world corrupt evil dictator from a poor backward desert country can accumulate. He must feel like a homeless pauper next to the developed rich first world democratically elected leaders, who are able to steal TRILLIONS while their masses are kept brainwashed lardass fat. I guess he did not have the foresight to have endless "EGYPTIAN IDOL" contests running on TV to keep those protesters happily glued to their couches.

Bankrupt Europe wants to place a puppet that will enslave the egyptian people under debt to their insolvent banks thus giving them a much needed meth tank to kick the can for a few months more.

But it is too late now. The revolution has already been exported to Turkey, and that means it's already in Europe (Germany) by proxy. All those "guest slaves" will rise against decades of  german oppression anytime now.  I wonder what frau Merkel would do if Mubarak, Gaddafi, Chavez and Fidel Castro DEMANDED she resign?  Did Sarkozy resign because of the riots in France a few years ago? Oh the hypocrisy!

What about Assflange's disclosure on the swiss bank accounts of rich politicians from the US and Europe?

Ahhh...but...but...Assflange is now a celebrity and a future Nobel peace prize recipient.

He'll have a post on the UN's "global transparency" organization.

And he'll be on the next crap spy movie with Angelina.

And he could also be on a millionaire's list tomorrow, so he must play by the rules of the power elite he so desperately wishes to join.

What a fraud.

TruthInSunshine's picture

Does anyone think we're truly not headed in this direction, just on a different scale, timeline and with prettier and more eloquent bullshit explanations (think patriotic soundbites to get people to encourage their kids to go and get their limbs blown off for 'democracy')?


"Forget the politicians. The politicians are put there to give you the idea that you have freedom of choice . . . you don’t. You have no choice. You have owners. They own you. They own everything. They own all the important land. They own, and control the corporations. They’ve long since bought, and paid for the Senate, the Congress, the state houses, the city halls, they got the judges in their back pockets and they own all the big media companies, so they control just about all of the news and information you get to hear. They got you by the balls. They spend billions of dollars every year lobbying . . . lobbying, to get what they want . . . Well, we know what they want. They want more for themselves and less for everybody else, but I’ll tell you what they don’t want . . . they don’t want a population of citizens capable of critical thinking. They don’t want well informed, well educated people capable of critical thinking. They’re not interested in that . . . that doesn’t help them. That’s against their interests. That’s right. They don’t want people who are smart enough to sit around a kitchen table and think about how badly they’re getting fucked by a system that threw them overboard 30 fuckin' years ago. They don’t want that. You know what they want? They want obedient workers . . . Obedient workers, people who are just smart enough to run the machines and do the paperwork. And just dumb enough to passively accept all these increasingly shittier jobs with the lower pay, the longer hours, the reduced benefits, the end of overtime and vanishing pension that disappears the minute you go to collect it, and now they’re coming for your Social Security money. They want your fuckin' retirement money. They want it back so they can give it to their criminal friends on Wall Street, and you know something? They’ll get it . . . they’ll get it all from you sooner or later cause they own this fuckin' place. It’s a big club and you ain't in it. You and I are not in The big club. By the way, it’s the same big club they use to beat you over the head with all day long when they tell you what to believe. All day long beating you over the head with their media telling you what to believe, what to think and what to buy. The table has tilted folks. The game is rigged and nobody seems to notice. Nobody seems to care. Good honest hard-working people . . . white collar, blue collar it doesn’t matter what color shirt you have on. Good honest hard-working people continue, these are people of modest means . . . continue to elect these rich cocksuckers who don’t give a fuck about you. They don’t give a fuck about you . . . they don’t give a fuck about you. They don’t care about you at all . . . at all . . . at all, and nobody seems to notice. Nobody seems to care. That’s what the owners count on. The fact that Americans will probably remain willfully ignorant of the big red, white and blue dick that’s being jammed up their assholes everyday, because the owners of this country know the truth. It’s called the American Dream cause you have to be asleep to believe it . . .”

-- George Carlin

TruthInSunshine's picture

George Carlin is a radical Islamicist, now?

ZerOhead's picture

If that truly was Carlin, I for one am blown away. Not that it's not true of course... it's just that it sounds sooo... well... anti-something or other.

Cognitive Dissonance's picture

Nice to have you back after two plus months hiding under the bed. Thanks for posting ZerOhead.

MichaelNY's picture

Yes, that was truly George Carlin.  He knew the score.  R.I.P.

Just Observing's picture

Hey....this guy used the same financial adviser as Marcos of the Phillipines....when asked how he managed to accumlate billions on a presidential salary of a few thousand a year, he replied "prudent investing".....with a straight face, no less.

Jim in MN's picture

General strike starts Sunday.  $330 billion cost per day.  Wonder how long they can pay the goons without using the precious bodily fluids--er wealth--of the elites...

Mad Max's picture

$330 billion cost per day.

I think you mean $330 million cost per day.  $330 billion per day is what the TBTF spend on red bull, hookers and blow.

Jim in MN's picture

Right, when I come to this site I instinctively multiply everything a thousandfold. 

aerial view's picture

Attention all future dictators: sell your soul to the U.S. govt and it's directives and you and your family will become rich beyond imagination. Screw your own people and thank U.S. citizens for footing the bill! 

aerial view's picture

Attention all future dictators: sell your soul to the U.S. govt and it's directives and you and your family will become rich beyond imagination. Screw your own people and thank U.S. citizens for footing the bill! 

Henry Chinaski's picture

If ABC reports it then it must be true.

DosZap's picture

And, just who do we thonk that money came from?.

It's US Taxpayer money.Bribe money over the years.

Cocomaan's picture

But guys, haven't you heard? The Muslim Brotherhood is going to miraculously take over the entire country, and soon after that, the world. 

 

We need Mubarak to keep making money so that we can be stable

SashaBelov's picture

Son of a bitch! Year or two ago was watching documentary abouth him (produced by some european or american prouducer) and I thought that he's a fair leader and war hero, but this infos turns him in very different perception in my eyes. Looks like Friedrich Nietzsche was righy abouth man. What a shame he didn't manage to make something realy remarkable with all his power and wealth. Just pussies deposit on bank account! Real artists create out if it!

gwar5's picture

Maybe that's what's taking him so long to leave...

it just takes that long to load up the trucks.

He's not hurting, but I doubt he has that much money.

Secret: Hosni Mubarack is sick and is dying. He will stay so he can die in Egypt. 

partimer1's picture

what you expect me to say? burn the motherf#ker on the cross!

gorillaonyourback's picture

yes burn the mutha fucka,  but how can we get him and our money back?

gorillaonyourback's picture

yes burn the mutha fucka,  but how can we get him and our money back?

20smoney's picture

While yes the situation is screwed up and the American puppets around the world and money sent over seas is not really what America was founded upon, it probably is worth noting that an end to American "interests" in these parts of the world will have a drastic effect on our way of life, probably most of all in the form of the end of cheap gas, no?

I'm all for an end to the corruption and fleecing of the common people, but it is worth noting that there will be consequences that will impact you and me.

Thoughts?

Gene Parmesan's picture

Makes you wonder just how much of that came out of your and my pockets.

Translational Lift's picture

Let's see....the US has been giving him (Egypt-sic) $1.8 Billion/yr on average for the last 30 yrs.......Mmmm....that makes sense....

Mr Lennon Hendrix's picture

He will step down once the markets close and he has his tonnes in tow.

dick cheneys ghost's picture

son gamal, said to be worth $17 billion. outrageous and disgusting.

http://nakedempire.wordpress.com/

tonyw's picture

in Tunisia it was estimated that "the family" were worth $4-5 bn and Tunisia is one fifth the size of Egypt. It just shows that the people's demands for an end to corruption and cronyism are fully justified.