Tuesday, February 8, 2011

Experts: Mubarak's Family Net Worth about $70B; Corruption in His Regime Led to Personal Gain

Middle East experts say Egyptian President Hosni Mubarak's family fortune could be as much as $70 billion, the Voice of America News website reports today (February 8, 2011).

They say the Egyptian president has much of his wealth in Swiss banks or tied up in real estate in New York, Los Angeles, and London.

Experts also say Mubarak has several lavish homes across Egypt.

Mubarak's wife, Susan, and their two sons, Gamal and Alaa, are also reported to be billionaires.

Amaney Jamal, a political science professor at Princeton University, said there was "a lot of corruption in his (Mubarak's) regime and a stifling of public resources for personal gain."

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