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Report:
Cuba's Castro worth a cool $900M
Fortunes of dictator estimated
at nearly twice that of Queen Elizabeth II
in annual ranking of 'Kings, Queens & Dictators.'
New York
Reuters
CNN
Infosearch:
José F. Sánchez
Bureau Chief
Cuba
Research Dept
La Nueva Cuba
May 5, 2006
Cuban
President Fidel Castro was furious when Forbes magazine estimated
his fortune at $550 million last year. This year, the magazine upped
its estimate of the communist leader's wealth to a cool $900 million.
Castro, who
says his net worth is nil, is likely the beneficiary of up to $900
million, based on his control of state-owned companies, the U.S.
financial magazine said in its annual tally of "Kings, Queens
& Dictators" fortunes Thursday.
Kings and
sheikhs of the oil-rich Gulf Arab states still top the Forbes list,
to be published in its May 22 edition.
Saudi King Abdullah
is number one with an estimated $21 billion, followed by Sultan
Hassanal Bolkiah of Brunei at $20 billion and United Arab Emirates'
President Sheikh Khalifa bin Zayed al-Nahayan at $19 billion.
Among Europeans,
Prince Hans-Adam II of Liechtenstein improved upon his family fortune
of palaces, real estate and artwork with an investment in a U.S.
producer of hybrid rice, for total estimated riches of $4 billion.
Perhaps the
most industrious of the leaders listed is Sheikh Mohammed bin Rashid
al-Maktoum, ruler of Dubai, with a net worth of $14 billion.
Forbes estimates
the renowned racehorse breeder also helped raise Dubai's gross domestic
product from about $8 billion to nearly $40 billion since 1994 by
diversifying its industries outside of oil and making successful
investments overseas.
"He would
probably be the shrewdest of the bunch," said Luisa Kroll,
associate editor at Forbes.
Africa's Teodoro
Obiang Nguema Mbasogo, president of Equatorial Guinea, made the
list of wealthiest leaders for the first time. He is estimated to
hold up to $600 million, the magazine said, although an oil boom
has not prevented his country's slide down the United Nations' development
rankings.
Castro had said
he was considering suing after Forbes released its 2005 list, scoffing
then his wealth was estimated to be close to that of the queen of
England.
"Do they
think I am (former Zairian President) Mobutu (Sese Seko) or one
of the many millionaires, those thieves and plunderers that the
empire has suckled and protected?" he said last year, referring
to his capitalist archenemy, Washington.
This year, Castro
would be well above the British monarch. Queen Elizabeth came in
with some $500 million in estates, gems and a stamp collection built
by her grandfather. The list does not include Buckingham Palace
or the crown jewels.
A copy of the
list, compiled by Forbes editors and not confirmed by the royals
themselves, was released Thursday.
"People
are always intrigued. What is the ultimate fantasy but being a rich
princess or prince?" said Kroll, who edits the magazine's annual
list of global billionaires.
"We keep
it separate from the billionaires because there are some very tricky
things about these folks," Kroll said. "It's very hard
to separate state from personal wealth. Some of these fortunes literally
go back 800 years."
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