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To: Broken_Clock who wrote (39369)	2/21/2013 12:45:05 PM
From: longnshort	2 Recommendations Respond to of 85487

I think it was Forbes, list of the richest people on the planet. took about 2 seconds to google it, you know how to google ? CASTRO THE MULTIMILLIONAIRE Forbes magazine estimated Castro's fortune in at least 900 million dollars. Many of those who are familiar with the dictator's business believe that Forbes is being too conservative. The Cuban dictator runs Cuba as if it was his own farm and the 11 million poor Cubans as his slaves. Castro's businesses include the Convention Palace (Palacio de Convenciones); CIMEX; MEDICUBA; resort hotels and much more. Fidel Castro Inc. - A Global Conglomerate, by Maria Werlau Since 1997, Forbes magazine has featured Fidel Castro in its annual Billionaires? edition as one of the richest rulers in the world. Initially, Forbes assigned to Castro a share of Cuba's reported GDP (gross domestic product) for the previous year, which yielded a fortune of approximately $150 million. Since 2003, however, it began using a method similar to that used to estimate the fortunes of businesspeople and other royals and rulers. Using academic sources, Forbes identified several enterprises said to be controlled by Castro and determined their value by comparing them to similar publicly-traded companies. This has resulted in the more recent estimate of $500 million for Castro?s fortune. Aside from the difficulties inherent in estimating the value of privately-held companies lacking financial disclosure, Forbes? calculation of Fidel Castro?s fortune is fraught with other obstacles. Due to a severe lack of information, the number of enterprises it took into account was very restricted in relation to the large number of businesses said to be under Castro?s control. In addition, Forbes ?calculation of Castro?s net worth fails to take into account funds in bank accounts all over the world, large inventories of assets inside Cuba, and real estate holdings both in Cuba and overseas, all reported to belong to Castro. Yet, given the serious methodological flaws of Cuba?s GDP statistics and Forbes? past practice of using only one year as the basis for its calculation, the new approach provides a sounder approximation to Castro?s wealth. Although it probably falls well short of Castro?s actual holdings, at least its foundation is the market value of clearly designated assets. Not surprisingly, the Cuban government has long disputed Forbes ?inclusion of Castro in their list. It publicly responded for the first time in 2004 by issuing a statement that "the revenues of Cuban state companies are used exclusively for the benefit of the people, to whom they belong.” Fidel publicly rebuked Forbes report and said he was considering a lawsuit against the magazine for libel. Because of the large, intricate, and secret nature of these business activities, expectedly, all estimates of Castro?s worth are imprecise. Nonetheless, even the best attempts appear to be well shy of the vast wealth under his command. The testimonies of former regime insiders provide telling snapshots of the enormous assets that Fidel Castro and his brother Raúl control. Arguably, they offer damning substantiation of their existence, regardless of their precise value at any given time –which appears to fluctuate widely as substantial assets apparently flow in and out constantly. Read the entire report: Fidel Castro Inc. - A Global Conglomerate PALACIO DE CONVENCIONES (CONVENTION PALACE) The Palacio de Convenciones is one of the businesses mentioned by Forbes magazine as being one of those that have helped the Cuban dictator become one of the world's richest persons, while the Cuban people are forced to live worse than animals. Here is how the Castro regime describes the Palacio de Convenciones: "The Havana International Conference Center Complex is Cuba's leading company in the industry. The Center is an institution that specializes in organizing, promoting and hosting a wide variety of special events. Its sprawling 60,000 sq.m. premises are located in a residential district of Cuba's capital city, only five minute away from downtown Havana. Pabexpo, its fairgrounds, contains five air-conditioned, interconnected exhibition halls. The Complex offers accommodations at the Palco Hotel, a modern three-star facility. The Conference Center Complex provides catering services at the Bucán, El Rancho and El Palenque restaurants. In 1998, Club Habana, a top-notch social and sports center, was added to the complex facilities."

To: Broken_Clock who wrote (39369)

2/21/2013 12:45:51 PM

From: longnshort

2 Recommendations Respond to of 85487

Fidel Castro net worth rises, according to 'Forbes'

Updated 5/4/2006 9:56 PM ET

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NEW YORK (Reuters) — 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."