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Where is Hosni Mubaraks family?
in cairo
What is Hosni Mubarak?
The Mubaraks have never publicly discussed their assets. Hosni Mubarak's official monthly salary as president, counting benefits, came to 4,750 Egyptian pounds ($808), in 2007 and 2008, according to a Cairo think tank.
What is Hosni Mubarak salary?
The Mubaraks have never publicly discussed their assets. Hosni Mubarak's official monthly salary as president, counting benefits, came to 4,750 Egyptian pounds ($808), in 2007 and 2008, according to a Cairo think tank.
Who is hosni mubaraks mother?
President Hosni Mubarak's mother is Ms. Naima Ibrahim, a housewife from Kafr AlMoselha in Menouf, she is a great lady
What Under Mubaraks presidency Egypts economic growth rate?
Under Hosni Mubarak's presidency, which lasted from 1981 to 2011, Egypt experienced a period of economic growth, particularly in the mid-2000s. The average annual growth rate during this time was around 5-7%, driven by reforms in the private sector, increased foreign investment, and tourism. However, this growth was often criticized for being uneven, with significant disparities in wealth and persistent poverty despite the overall economic expansion. Additionally, the benefits of growth were not evenly distributed, leading to social unrest that contributed to the 2011 uprising.
Is Hosni Mubarak rich?
Hosni Mubarak is worth 40 billion dollars and very rich. President Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by experts, with much of his wealth in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast. After 30 years as president and many more as a senior military official, Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels. According to a report last year in the Arabic newspaper Al Akhabar, Mubarak has properties in Manhattan and exclusive Beverly Hills addresses on Rodeo Drive. His sons, Gamal and Alaa, are also billionaires. A protest outside Gamal's ostentatious home at 28 Wilton Place in Belgravia, central London, highlighted the family's appetite for western trophy assets. Amaney Jamal, a political science professor at Princeton University, said the estimate of $40bn-70bn was 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," she told ABC news. "There was a lot of corruption in this regime and stifling of public resources for personal gain. "This is the pattern of other Middle Eastern dictators so their wealth will not be taken during a transition. These leaders plan on this." Al Khabar said it understood the Mubaraks kept much of their wealth offshore in the Swiss bank UBS and the Bank of Scotland, part of Lloyds Banking Group, although this information could be at least 10 years old. There are only sketchy details of exactly where the Mubaraks have generated their wealth and its final destination. Christopher Davidson, professor of Middle East politics at Durham University, said Mubarak, his wife, Suzanne, and two sons were able to accumulate wealth through a number of business partnerships with foreign investors and companies, dating back to when he was in the military and in a position to benefit from corporate corruption. He said most Gulf states required foreigners give a local business partner a 51% stake in start-up ventures. In Egypt the figure is commonly nearer 20%, but still gives politicians and close allies in the military a source of huge profits with no initial outlay and little risk. "Almost every project needs a sponsor and Mubarak was well-placed to take advantage of any deals on offer," he said. "Much of his money is in Swiss bank accounts and London property. These are the favourites of Middle Eastern leaders and there is no reason to think Mubarak is any different. Gamal's Wilton Place home is likely to be the tip of the iceberg." Al Khabar named a series of major western companies that, partnered with the Mubarak family, generated an estimated $15m a year in profits. Aladdin Elaasar, author of The Last Pharaoh: Mubarak and the Uncertain Future of Egypt in the Obama Age, said the Mubaraks own several residences in Egypt, some inherited from previous presidents and the monarchy, and others the president has commissioned. Hotels and land around the Sharm el-Sheikh tourist resort are also a source of Mubarak family wealth.
How rich is Hosni Mubarak?
Hosni Mubarak is worth 40 billion dollars and very rich.President Mubarak's family fortune could be as much as $70bn (£43.5bn) according to analysis by experts, with much of his wealth in British and Swiss banks or tied up in real estate in London, New York, Los Angeles and along expensive tracts of the Red Sea coast.After 30 years as president and many more as a senior military official, Mubarak has had access to investment deals that have generated hundreds of millions of pounds in profits. Most of those gains have been taken offshore and deposited in secret bank accounts or invested in upmarket homes and hotels.According to a report last year in the Arabic newspaper Al Akhabar, Mubarak has properties in Manhattan and exclusive Beverly Hills addresses on Rodeo Drive.His sons, Gamal and Alaa, are also billionaires. A protest outside Gamal's ostentatious home at 28 Wilton Place in Belgravia, central London, highlighted the family's appetite for western trophy assets.Amaney Jamal, a political science professor at Princeton University, said the estimate of $40bn-70bn was 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," she told ABC news. "There was a lot of corruption in this regime and stifling of public resources for personal gain."This is the pattern of other Middle Eastern dictators so their wealth will not be taken during a transition. These leaders plan on this."Al Khabar said it understood the Mubaraks kept much of their wealth offshore in the Swiss bank UBS and the Bank of Scotland, part of Lloyds Banking Group, although this information could be at least 10 years old.There are only sketchy details of exactly where the Mubaraks have generated their wealth and its final destination.Christopher Davidson, professor of Middle East politics at Durham University, said Mubarak, his wife, Suzanne, and two sons were able to accumulate wealth through a number of business partnerships with foreign investors and companies, dating back to when he was in the military and in a position to benefit from corporate corruption.He said most Gulf states required foreigners give a local business partner a 51% stake in start-up ventures. In Egypt the figure is commonly nearer 20%, but still gives politicians and close allies in the military a source of huge profits with no initial outlay and little risk."Almost every project needs a sponsor and Mubarak was well-placed to take advantage of any deals on offer," he said."Much of his money is in Swiss bank accounts and London property. These are the favourites of Middle Eastern leaders and there is no reason to think Mubarak is any different. Gamal's Wilton Place home is likely to be the tip of the iceberg."Al Khabar named a series of major western companies that, partnered with the Mubarak family, generated an estimated $15m a year in profits.Aladdin Elaasar, author of The Last Pharaoh: Mubarak and the Uncertain Future of Egypt in the Obama Age, said the Mubaraks own several residences in Egypt, some inherited from previous presidents and the monarchy, and others the president has commissioned.Hotels and land around the Sharm el-Sheikh tourist resort are also a source of Mubarak family wealth.
How was Hosni Mubarak elected president of Egypt?
NEW YORK -- In his first speech to the country, the new president of Egypt promised "not to commit myself to what I cannot implement, hide the truth from the people, or be lenient with corruption and disorder."That was Hosni Mubarak in 1981, taking the reins of his proud country in the wake of Anwar Sadat's assassination and expressing a determination to steer Egypt in a new direction. During a crackdown on profiteering by politically-connected wealthy businessmen, Sadat's half-brother and his sons were jailed and handed steep fines. Several dozen prominent members of Sadat's circle were slapped with criminal charges for misusing their power and other corrupt practices. Mubarak was known for his "rigid personal probity," according to a 1990 New York Times profile, which noted that "his family has not profited from his office."But over the last 20 years, Mubarak, his family and his close circle of advisers have enriched themselves through partnerships in powerful Egyptian companies, profiting from their political power, according to numerous reports. The 82-year-old leader and his two sons also wield the levers of the government, including the military and the country's preeminent political party, to reward friends and punish enemies.Mubarak -- who stepped down on Friday in the wake of massive protests that have gripped Cairo and Alexandria for weeks -- and his family have a net worth of at least $5 billion, analysts tell The Huffington Post. Recent media reports pegging the family fortune at between $40 and $70 billion are considered to be exaggerated.Much of their fortune has reportedly been invested in offshore bank accounts in Europe and in upscale real estate. On Friday, Switzerland decided to freeze certain accounts, possibly belonging to Mubarak and his family, a spokesman told Reuters, under new laws governing ill-gotten gains. Last month, the Swiss froze the accounts of Mubarak's ally, ousted Tunisian president Zine El Abidine Ben Ali, whose overthrow inspired the first protests in Cairo.The Mubarak family reportedly owns properties around the world, from London and Paris to New York and Beverly Hills. In addition to homes in the Red Sea resort of Sharm al-Sheikh and the upscale Cairo district of Heliopolis, they also have a six-story mansion in the Knightsbridge section of London, a house near the Bois de Bologne in Paris and two yachts.Largely through Mubarak's two sons, Gamal and Alaa, the family controls a network of companies that earn money through concessions wrangled from foreign companies that do business in Egypt, according to prominent businessmen and "Corruption In Egypt: The Black Cloud Is Not Disappearing," an investigative report compiled in 2006 by a coalition of opposition groups. (The report, which names the companies allegedly owned by the Mubarak brothers and details multiple instance of corruption by government officials, has been cited by numerous international good government groups, such as Transparency International, but it was taken offline and is no longer available on the Internet. (A copy is avialable on this BLOG)."Egypt's state under Mubarak's regime is an embodiment of corruption," concludes the report, with descriptions of numerous allegations of corruption involving bribery, undue influence and nepotism.In the 1980s, Mubarak seemed sincere in his desire to crack down on corruption in an effort to distinguish himself from Sadat, says an Egyptian-American businessman who often does business in the country. "But as time went on, the cronies around him started taking advantage of the system," he says. "And the other factor was his children got into business, taking commissions out of each and every company that comes to Egypt. The way they have amassed that money is not by stealing but by ensuring that businesses that want to operate in Egypt pay from 5 percent to 20 percent commission to a company formed by Gamal Mubarak. I know businessmen who have been squeezed this way."Some of the family's wealth is also believed to be through partnerships with foreign companies -- under Egyptian law, foreign businesses are required to give a local partners a 51-percent stake in their Egyptian operations. "According to this law, any multinational company needs to have a local sponsor, and this local sponsor usually goes through members of the family or powerful people in the ruling party," says Aladdin Elaasar, the author of "Last Pharaoh: Mubarak and the Uncertain Future."A spokesman for the Egyptian Embassy did not return calls for comment and members of the Mubarak family could not be reached for comment.Privatization initiatives sponsored by the World Bank, the International Monetary Fund and the U.S. Agency for International Development have been accused of favoritism. When several historic hotels were sold by the government to friends of the Mubaraks, local newspapers complained about the "smell of corruption."The wealth of the Mubarak family and other elites stands out in a country where millions toil as low-wage laborers, high rates of inflation make it harder for those aspiring to a middle-class lifestyle and unemployment is a persistent problem -- half of all Egyptian men don't have a job and 90 percent of females remain jobless two years after graduating college, according to a Congressional Research Report, USA, Gamal, who has been groomed to succeed his father before the recent protests, was educated at the American University of Cairo and spent six years working as an investment banker for Bank of America. He then formed his own investment advisory firm, Med Invest Partners, which helped Western investors seeking to purchase stocks and companies in Egypt.Alaa, the older brother, is a businessman who owns a company that services most of the airlines in Egypt, according to Elaasar, though he reportedly fell out of favor when he was accused of benefiting from privatization initiatives. One persistent rumor making the rounds is that the government enacted a law in 2001 making seat belts mandatory in vehicles because Alaa has a concession to import seat belts.Close friends of the Mubarak government also prosper. Taher Helmy, adviser to Gamal and Hosni and president of the American Chamber of Commerce in Egypt, recently bought a $6.1 million apartment overlooking New York City's Central Park. Ahmed Ezz, a steel magnate and close confidant of Gamal, has been accused of using his connections to monopolize the steel market.Several former government officials have started to go public with their allegations of corruption. Last week, former deputy foreign minister Ibrahim Yosri and 20 lawyers petitioned Abdel Meguid Mahmoud, the country's prosecutor general, to put Mubarak and his family on trial for allegedly stealing state wealth. Yosri did not return emails for comment.In 2005, the most senior official to defect in decades fled to Switzerland and began a campaign to have Mubarak put on trial at Belgium's International Court of Justice for corruption and human rights abuses. "The Mubarak era will be known in the history of Egypt as the era of thieves," said Mohammad Ghanam, former chairman of the legal research unit in the Egyptian Interior Ministry. The unlikely whistleblower condemned the regime in a speech to a human rights conference in London, condemning Mubarak and his sons in the strongest terms: "his official business is the looting of public money, and we find that the super-corrupt, ultra-delinquents have attained state posts; extreme corruption and treachery throughout the land has caused the current condition of our country, as all of you know!"Ghanam's case turned a strange corner in 2007. Though he was granted political asylum by Switzerland, he later claimed that Swiss authorities were trying to coerce him into infiltrating and spying on the country's Arab community. When he vehemently refused and some of his comments appeared on jihadist Websites, Ghanam was jailed for what Swiss authorities called his "dangerosite" (French for "dangerousness").His brother, Ali, who lives in the United States, says that he has been unable to talk to his brother for more than two years and blames the Mubarak regime for his detention. "He exposed the corruption of the Mubarak family," Ali Ghanam says, "and look what happened to him."
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