Muammar Gadhafi Was the Richest Man in the World

Muammar Gadhafi Was the Richest Man in the World

Muammar Gadhafi Was the Richest Man in the World; Total Net Worth Keeps Adding Up
Posted by Mike Tirone – Monday, November 7th, 2011

Let’s be honest, Muammar Gadhafi was a horrible man.
Truly someone that, in whatever light shown, would be viewed in history as a terrible person.
And even after his death, his already outrageous legend continues to grow, it somehow buries him even deeper into the layers of the world’s hatred for the ex-Libyan dictator. From his vibrantly flamboyant attire to his ice-cold stare, Gadhafi was a man of many stories and many riches; many we are only now discovering.
Reports claim that Gadhafi, who was killed in late October in Libya, could have potentially been the richest person in the entire world…
By personally controlling Libya’s rich supply of oil, Gadhafi not only died the richest man in the world, with $200 billion in his pocket, but he took the sole position in front of three prominent billionaires: Carlos Slim, Bill Gates and Warren Buffett…combined.
So the two questions asked are how did he do it? And why did we not see this coming?
Forbes, who most of the world looks to in their annual rankings of the World’s Billionaires, came out with a statement stating that they distinguish “between personal, entrepreneurial wealth and wealth derived largely from positions of power.”
“…where lines often blur between what is owned by the country and what is owned by the individual. That is why rulers such as the King of Thailand, the Sultan of Brunei and Dubai’s Sheikh Mohammed Bin Rashid Al Maktoum are not listed among the world’s billionaires, though we have estimated that each controls an 11-figure fortune.
The same principle would apply to Gadhafi, who took advantage of his station and literally lived like a king off of the backs of his people. Indeed, the vast majority of the $200 billion figure ascribed to him by the LA Times was apparently held in accounts owned by the government of Libya, the country Gadhafi ruled brutally for 42 years.”

Gadhafi was able to achieve such a hesit by using his own power over Libya’s prosperous oil supply which exported 1.3 million barrels of oil each day to build his riches. Investigations show that he had roughly $67 billion in bank accounts and investments, which were seized at the beginning of the conflict in Libya early this year. While another $30 billion was seized in England, France, Italy and Germany and the Obama administration found a whooping $37 billion in the United States.
It is said that he had around $30 billion more hidden throughout all parts of the world, with cash stored or invested in nearly every single major country in the world; from Asia, Europe, and the Middle East all the way to the U.S.
Like many of the world’s richest people, he invested heavily in many sectors, having his hand in everything from sports teams, media outlets to real estate and energy companies.
He invested significant amounts in the “beautiful game” of soccer, specifically European club Fiat and Italian club Juventus FC. He also had investments in Italy’s largest engineering and defense company worth $3.9 billion, Italy’s largest bank, UniCredit SpA, valued at $3.3 billion, and even Pearson Plc which owns book publisher Penguin and the Financial Times newspaper valued at $14.8 billion.
Many native Libyans and those close to Gadhafi believe that he has even more money, worth billions of dollars worth in gold, hidden in his nativeland.
As for real estate, he had it everywhere. Gadhafi had millions invested in London real estate assets alone. He had even money spread throughout Europe in Prague and Italy, and more of it all the way across seas in New Jersey; with a home fit for king. His Englewood, NJ house has a tennis court, shooting range, and a massive swimming pool. That home is worth billions alone. Should be an easy sell: “Former owner was a ruthless dictator of a struggling nation for more than 4 decades but was killed by his own people… and the pool is Olympic sized!”

It is estimated that with Gadhafi’s $200 billion, he had enough money to give $30,000 to each of his country’s 6.6 million citizens.
There is more where that came from
It is reported that many nearby African countries refused to freeze Gadhafi’s accounts due to loyalty or fear of the all-powerful dictator.
Although the $200-billion-figure has been investigated and accounted for, U.N. Security officials feel that even more money may turn up in the near future now that he has been killed. The most surprising fact is that Gadhafi’s earned the majority of his riches in the past four to five years because he canceled plans for a nuclear weapons program which was worth billions.
It is said that when you pass on, your legend may proceed your history and in Gadhafi’s case, it seems like his legend has only just begun.
*Indented and quoted content from Forbes
source: Muammar Gadhafi Was the Richest Man in the World

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