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Wednesday, March 02, 2011

Astonishing wealth of Gaddafi and his family revealed

From the London Daily Mail:
The astonishing wealth of Libyan tyrant Muammar Gaddafi and his family has been laid bare as countries around the world begin freezing billions of dollars worth of their assets.

The U.S. alone has seized $30billion (£18.5bn) of their investments, while Canada has frozen $2.4bn (£1.5bn), Austria, $1.7bn (£1bn) and the UK, $1bn ($600m).
These assets appear to be just the tip of the iceberg, as no one is yet certain exactly what the family owns around the world.

Read the rest.

It's not so amazing. When you are the dictator of an oil-rich country, keep the people living at subsistence levels, siphon the oil wealth to your personal use and live long enough, you can become incredibly wealthy.

The wealth in the US is held by the elderly because the greatest asset for gathering wealth is time. Gaddafi has been in the wealth gathering business for over 40 years.  It's simple math.

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