Posted on 02/28/2011 10:48:42 AM PST by LibWhacker
JOHANNESBURG – The son of Equatorial Guinea's dictator of 30 years commissioned plans to build a superyacht costing $380 million, nearly three times what the country spends on health and education each year, a corruption watchdog said Monday.
The statement from Global Witness said that German company Kusch Yachts has been asked to build the yacht, housing a cinema, restaurant, bar and swimming pool, though construction has not yet started.
Global Witness has been urging Washington to institute sanctions against Teodorin Obiang, whose extravagant lifestyle currently includes a $35 million-dollar mansion in Malibu, California, a $33 million jet and a fleet of luxury cars, while earning a salary of $6,799 a month as agriculture minister.
(Excerpt) Read more at news.yahoo.com ...
Apparently, this guy is quite the saver!
Wow. What some folks can do on a government salary!
I would suspect all of it is stolen foreign aid money.
I hear the weather off the coast of Somalia is lovely this time of year.
It’s just a little self-treat after all that hard-work of brutalizing those ungrateful plebs.
He must've inherited that wealth: his uncle was also a government employee earning $2,000 per month.
Just shows you where all the donations from Western counties actually go, and why Africa is in worse shape than when it gained independence one half of a century ago.
How much do we remit to Equatorial Guinea ?
Public employee union member?
“No different than a Lexus in a section 8 housing project, same mentality.”
Except that the Lexus is much more likely to get repossessed.
Colonel, USAFR
Well duh!! He needs this to outrun the pirates.
Let him sail it towards Somalia.
Not really.
EG has a tiny (650,000) population living in an area the size of Vermont, and does not receive much in foreign aid.
The country has massive offshore oil resources, which the ruling family and their cronies use as a personal slush fund.
I would guess that the vast bulk of that money comes from concession payments from foreign oil companies.
Gee...my dad gave me $50 for my 21st birthday (1966) and I thought I was rich.
“Except that the Lexus is much more likely to get repossessed.
Colonel, USAFR”
LMAO
Before he came to power Yams were probably pretty expensive..
they might make good democrats..
A yacht that costs as much as a small city is an expedient method to accommodate such a goal. Build me a boat that can move anywhere at any time, make sure it can also hold a hundred tons of bullion... make it fast...
It is indeed a shame that even the descendants of third world savages no longer trust dumping the cash into the politically connected US banking operations or historically metastasized Swiss EU operations today.
Then again, they just look at our president and know where things will end up for them, here.... And being a nonwhite trusting the Swiss banking system with billions looted.? Sure.
They say CA is no longer funding Section 8 housing.
Looks like now’s a good time to pick up a used Lexus.
“They say CA is no longer funding Section 8 housing.
Looks like now’s a good time to pick up a used Lexus.”
Or go into the repo business.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.