It suits the CIA to spread the lie that Mubarak is worth $70 billion?
At Forbes.com, we read that Estimates Of Hosni Mubarak's Extreme Wealth Appear Exaggerated And Unproven.
According to this article:
1. Foreign companies doing business in Egypt have to have a local partner.
(This prevents a foreign takeover - Aangirfan)
In Egypt, the local partner would, reportedly, get a 20% stake in the foreign business.
(The partner is unlikely to be an ordinary Egyptian peasant; the partner is likely to be a top entrepreneur with good connections and access to capital - Aangirfan)
Could Gamal Mubarak have a stake in Chile's restaurant?
2. ABC News cites a book that claims Gamal Mubarak has a share in Chili’s restaurants in Egypt.
But the owner of the Chili’s franchise in Egypt, speaking to ABC News, has denied Gamal’s involvement.
3. So, "take those headlines from ABC News, The Guardian and The New York Post with a very big grain of salt."
The old Egypt.
According to the UK's Financial Times (Focus on Egypt land deal fortunes.):1. In Egypt there has been a lot of development, and certain entrepreneurs, prepared to invest and take risks, have done well out of this.
Satellite cities have been built around Cairo; the Red Sea coast has been developed.
2. Has the Mubarak family become rich as the result of these developments?
"Sources close to the former regime say that the figures being bandied about by Egyptian demonstrators ... are wildly exaggerated."
The head of one Egyptian bank suggested the Mubarak family might have made $2bn.
3. There have been allegations that some land was given away too cheaply by the government.
However, former housing minister Ahmed al-Maghrabi "was credited with reforming land allocation procedures and introducing competitive auctions."
4. Hisham Kassem, a publisher and analyst, said the Mubarak regime used land as a tool "to control a private sector that it feared could become too politically influential if it was independent of government."
5. The property developers say that the big profits made on paper "need to be judged against the massive risks they take and the huge investments they are making."
"Yes, these margins are perceived as high, but how many years of investment did it take to achieve these margins?" said Mohamed Kamel, chief executive of Egypt Resort Company.
"You are trying to attract investors to very remote areas which are complete desert."
John F Kennedy was worth around $1 billion.
George Washington was worth around $1/2 billion.
Lyndon Johnson was worth around $98 million. (The Net Worth of the U.S. Presidents: From Washington to Obama ...)
2% BELOW POVERTY LINE IN EGYPT.