Clifton Dictator Orders $380 Million Yacht
Teodorin Obiang, the 41-year-old son of Equatorial Guinea’s dictator, who has in the past done business in Clifton with local real estate agent, Denise Dogon, has commissioned the building of a luxury superyacht for himself worth $380 million – three times more than his country spends annually on health and education. The suspicion is that he has no intention of paying for it with his own money but rather with stolen funds that really belong to the poor residents of Equatorial Guinea. Click link for more..
Teodorin Obiang is the agriculture minister in his father’s government but spends much of his time in California, with a $35 million mansion in Malibu, a fleet of luxury cars and a private jet. His government salary is $6,799 a month — making him certainly comfortable by U.S. standards but extremely wealthy compared with others in his home country. But even on that salary, it would still take him 4,600 years to pay for the luxury yacht he’s ordered.
As in many African countries, corruption is rampant, and a top government job often means free rein to dip into government coffers.
The $380 million yacht, which has yet to be built, would be the world’s second most expensive boat, behind one that belongs to Russian oligarch Roman Abramovich (photographed above). It’s supposed to be 387 feet long, housing a movie theater, restaurant, bar, swimming pool and a $1.3 million security system with floor motion sensors and fingerprint door openers, the anti-corruption group Global Witness said today. Obiang was previously building another boat equipped with a shark tank on board, it said.
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3 Comments
PB
01 Mar 2011
Prick
amy
01 Mar 2011
Never mind the fact the last last couple of years that he has owned the clifton house, i have only seen people there once, and around a year ago there were squatters living in it, breaking the whole place apart and the area stank like you cannot imagine! Besides for the gross misuse of a nation’s money, on a more minor note, a beautiful beautiful house was just wasted.
nick
02 Mar 2011
Amy,
I’m sure your house stinks even more!
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