The dream of every African politician -- and why not?
thestar.co.za
>>Most of Equatorial Guinea's 500 000 citizens live on less than a dollar a day, but the playboy son of the country's president has been spending millions in Cape Town on luxury cars, houses, hotel accommodation and entertainment.
Teodorin Nguema Obiang (34), whose father Teodoro is president of the oil-rich yet underdeveloped Equatorial Guinea, has since the weekend spent close on R10-million on three luxury cars and millions on other luxuries, according to impeccable sources.
He has been called "the closest thing there is to an African oil sheik".
Teodorin is minister of forestry, environment and housing in his father's government and also owns a stake in a logging company, which reportedly has a multimillion-rand turnover.
A graduate of Pepperdine University in Malibu, California, he is also the owner of the only government-approved private radio station in Equatorial Guinea, Radio Asonga. He runs Television Asonga, owned by his father, and owns the hip-hop record label TNO (for Teodorin Nguema Obiang) Records.
It is understood that while in Cape Town, Teodorin spent about R7-million on two Bentleys - one a black 2004 Bentley Arnage T, the other a cream 2005 Bentley Mulliner - at MG Rover Cape Town, as well as R3,2-million on a white 2005 6-litre Lamborghini at Bloomsbury in Buitengracht Street.
The cars were parked on Monday outside the Mount Nelson Hotel, where staff said the vehicles were bought at the weekend by "an African prince".
MG Rover management declined to provide exact prices "because he (Teodorin) is a very important client". But according to Bentley SA, a 2005 model Bentley Arnage T costs R4,3-million.
Bloomsbury management declined to confirm whether Teodorin bought the sports car, "because we have to protect the privacy of our clients". They were prepared to reveal that a white 2005 model 6-litre Lamborghini was sold two days earlier for R3,2-million.
Teodorin's architects are also reliably understood to be starting shortly with multimillion-rand renovations to his properties -
35 Klaassens Road, Bishopscourt, which he bought in March last year for a reported R26-million, and 76 Fourth Beach, Clifton, bought for R23,5-million, according to another source.
Yesterday Teodorin left the Mount Nelson with a large entourage of security guards, personal assistants and a chauffeur after spending R15 000 on French champagne at the hotel's Planet Bar on Friday night, according to a hotel staff member.
From there he drove to the airport, surrounded by bodyguards.
Teodorin is also believed to have homes in Paris, London and Los Angeles, where he has fleets of Bentleys and Lamborghinis. He is often seen at glitzy parties in Rio de Janeiro, Los Angeles, London and Paris.<<
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