Hosni Mubarak is richest person in the world!

Monday, 7 March 2011 00:36 - - {{hitsCtrl.values.hits}}

LONDON (AFP): Ousted Egyptian President Hosni Mubarak, reportedly ailing with cancer, may be the richest man in the world, with his wealth estimated to be a staggering $ 70 billion.

Mubarak’s wealth comes from offshore accounts deposited in secret bank accounts or invested in luxury homes and hotels, according to ‘The Guardian’.

The British newspaper claimed that in over 30 years of presidency, the former Egyptian President had access to investment deals that over time have generated huge profits. Most of these gains, according to the newspaper, were taken offshore.

Mubarak owned properties in Manhattan and Beverly Hills, while much of the money was kept in banks in England and Switzerland, reported earlier by the Al Khabar newspaper.

Christopher Davidson, a Professor of Political Science at Durham University, said that Mubarak has managed to gather wealth through a series of business partnerships with various foreign investors and companies with whom he was closely connected since the military stage.

The 70 billion dollars would put Mubarak comfortably ahead of Mexican business magnate Carlos Slim, who is worth about $ 53.5 billion, and Microsoft founder Bill Gates, with $ 53 billion.

Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.