Mubarak’s net worth estimated at USD 40 to 70 billion: report
Egypt’s embattled President Hosni Mubarak’s and his family’s net worth is estimated to be between U.S. dollars 40 and 70 billion, a media report said. The wealth of the Egypt’s first family was built largely from military contracts during his days as an air force officer; Mr. Mubarak eventually diversified his investments through his family when he became President in 1981, the ABC News quoted experts as saying. 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. There was a lot of corruption in this regime and stifling of public resources for personal gain,” Ms. Jamal was quoted as saying.