Forbes: Saudi king is world’s richest ruler

[SOO MAAL]

Forbes: Saudi king is world’s richest ruler

 

 

King Abdullah is worth an estimated 21 billion dollars, followed by Sultan of Brunei and UAE President.

 

 

NEW YORK - Saudi Arabia's King Abdullah, Cuban President Fidel Castro, Monaco's Prince Albert II and Britain's Queen Elizabeth II are among the world's wealthiest rulers, Forbes magazine reported on its website Friday.

 

 

Featuring monarchs, presidents and other leaders, the Forbes list is topped by Abdullah, 82, who became Saudi Arabia's sixth king in August 2005 and is worth an estimated 21 billion dollars, according to Forbes.

 

 

In second place, with 20 billion dollars, is 59-year-old Sultan Hassanal Bolkiah of Brunei, followed by the president of the United Arab Emirates, Sheikh Khalifa bin Zayed al-Nahayan, 58, with 19 billion dollars.

 

 

Dubai's ruler, 56-year-old Sheikh Mohammed bin Rashid al-Maktoum, came in fourth, with 14 billion dollars, followed by Prince Hans-Adam II of Liechtenstein, 61, with four billion dollars.

 

 

The new Monegasque ruler, Albert, 48, who took over rule of the tiny principality after his father's death last year, was in sixth place, with one billion dollars.

 

 

Castro, 79, came in seventh, with 900 million dollars credited to him by Forbes, which cited former Cuban officials as saying that Castro had skimmed profits from a Havana convention center, retail conglomerate Cimex and vaccine and pharmaceutical products firm Medicuba to amass his fortune. It noted, however, that "Castro, for the record, disagrees, insisting his personal net worth is zero."

 

 

Teodoro Obiang Nguema, the 63-year-old president of Equatorial Guinea, is next on the list, worth some 600 million dollars, according to Forbes.

 

 

Forbes said Obiang and his government deposited up to 700 million dollars in the US bank formerly known as Riggs Bank but noted that "Equatorial Guinea's embassy insists the money, which was released back to the country, belongs to the government."

 

 

"Attributing that money to President Obiang's personal wealth is like saying a person who runs a hospital is worth the amount of revenue the hospital generates," an embassy spokesperson told Forbes in an e-mail.

 

 

Obiang is followed by Britain's 80-year-old queen, Elizabeth, who is worth 500 million dollars -- not including Buckingham Palace, the crown jewels and some other heirlooms that "belong to the British nation" and are merely "entrusted to her care."

 

 

Rounding out the list is the Netherlands' Queen Beatrix, 68, who has 270 million dollars to her name.

 

 

Forbes acknowledged that the list was difficult to compile.

 

 

"These fortunes are derived from inheritances or positions of power. And the lines often blur between what is owned by the country and what is owned by the individual," it said.

 

 

"Even stickier: Proving a dictator controls funds and uses them for personal gain - not for the country's benefit," Forbes said.

[SOO MAAL]

Castro Denies Forbes Report on His Wealth

 

By VANESSA ARRINGTON

Associated Press writer

HAVANA -- Cuban President Fidel Castro denounced a Forbes magazine report naming him one of the world's wealthiest rulers, putting in a special television appearance on Monday to rebut the story he called "rubbish."

 

In its May 5 article, "Fortunes Of Kings, Queens And Dictators," Forbes put Castro in 7th place in a group of 10 world leaders with "lofty positions and vast fortunes." The magazine estimated Castro's personal wealth to be $900 million -- nearly double that of the $500 million of Britain's Queen Elizabeth II and just under Prince Albert II of Monaco's estimated $1 billion.

 

The article also referred to rumors of Castro having "large stashes in Swiss bank accounts."

 

"All this makes me sick," Castro responded Monday on the communist government's daily public affairs program Mesa Redonda, or "Round Table." "Why should I defend myself against this rubbish?"

 

Later on the program, Castro pounded the table, saying, "If they can prove I have an account abroad ... containing even one dollar I will resign my post."

 

Castro also gave the floor to several top officials, including Central Bank President Francisco Soberon, to deny the claims and defend his integrity.

 

"It is absolutely impossible that someone in the upper levels of government -- and especially not a leader (like Castro) ... who is recognized by the Cuban people as an example of humility and self-discipline -- could maintain personal accounts abroad," Soberon said.

 

Soberon called the Forbes article "grotesque slander," and blamed the CIA and a U.S. press controlled by "the empire" for the magazine's "vulgar and ridiculous" claims.

 

In explaining its calculations, Forbes said it assumed Castro has economic control over a web of state-owned companies including a convention center, a retail conglomerate and an enterprise that sells Cuban-produced pharmaceuticals.

 

Soberon said, however, that all the money made from those companies is pumped back into the island's economy, into sectors including health, education, science, security, defense and solidarity projects with other countries.

 

Forbes acknowledged in its article that the estimates for all the leaders are "more art than science."

[Abdi2005]

I wont to know how this muslim rules have accumulated all this wealth? Do they think the resources(oil) belongs to them and not to the people?

[Sharmarkee]

Salaam,

 

Keeping that money in western banks, shares and bonds, dont yu see that is why the west is so rich, giving back the needy muslims few handouts from the interest and that money in business for the west.

[General Duke]

Muslim leaders are rich, but their countries are poor. Apart from oild what do they export?

[Khalaf]

This is why these tyrants should be overthrown.

[Castro]

Originally posted by General Duke:

Muslim leaders are rich, but their countries are poor. Apart from oild what do they export?

Tyranny and despotism.

[Khalaf]

Castro sxb....only matter of time before they will be overthrown....maybe US is even doing the work for Muslims.

[Sharmarkee]

^^

Salaam,

 

Usually that money never see the light again, they just freez by the change of the political landscape of that countries, from Shah of iran to Qadaafi via Sadaam hussien they see how the wind blows, shah's money all frozen instantly, after Khomaini gate-crashed tehran, Saddam they used and abused costing him his freedom, and his iraq, Fahad was paying the invasion of iran by saddam, liberating kuwait, and then foot the bill by the destruction of iraq again,Qadaafi got new lease of life after he licked their boots.

 

the west is milking that wealth, and they call them friendly Muslim moderates, otherwise if no gains there, definitly they are breeding terrorim, transfering their files to the security council before they bomb back to the dark ages.

[Jabhad]

Castro sxb....only matter of time before they will be overthrown....maybe US is even doing the work for Muslims.

 

And good examples of the work US doing for Muslims can be seen in IRAQ, AFGANISTAN and now MOGADISHU, SOMALIA. :confused:

[Khalaf]

^^^^Look at it from this angle a strong dictator is removed, Islamic parties influence and strength is increased and Muslims are more likely to fight against Kufars then an oppressive tyrant dictator who claims to be Muslim. In the end….everything is Allahs Will….and Allahs plan will come….and that is victory of Islam.

[SOO MAAL]

Originally posted by Sharmarkee:

^^

Salaam,

 

Usually that money never see the light again, they just freez by the change of the political landscape of that countries, from Shah of iran to Qadaafi via Sadaam hussien they see how the wind blows, shah's money all frozen instantly, after Khomaini gate-crashed tehran, Saddam they used and abused costing him his freedom, and his iraq, Fahad was paying the invasion of iran by saddam, liberating kuwait, and then foot the bill by the destruction of iraq again,Qadaafi got new lease of life after he licked their boots.

 

the west is milking that wealth, and they call them friendly Muslim moderates, otherwise if no gains there, definitly they are breeding terrorim, transfering their files to the security council before they bomb back to the dark ages.

Very true