The conditions of the deposed president of the Arab Republic of Egypt, Hosni Mubarak continue to be uncertain. On the one hand, his lawyers declare that he is in a total coma, on the other, the hospital director denies this diagnosis. Even many Egyptians do not believe the lawyers, and have organized a sit-in in Tahrir Square, the same place where they deposed the ex-dictator in February. Protesters are calling for Mubarak to be transferred to Cairo as soon as possible and accusing the military of delaying the trial of old regime officers.
The fate of Egypt is highly tied to the future of Mubarak's huge fortune. If this wealth is confiscated by the military, instead of remaining in the hands of the ex-president's family, the country could reap the benefits of becoming a prosperous democracy. The risk is that otherwise it will continue to have a per capita GDP of only $6.200, equal to a seventh of that of the United States. Without a doubt, a transparent economy is the first step towards sustainable growth.
Hosni Mubarak has a heritage comparable to that of the two richest businessmen in the world. Yet with one difference: he is a military man. The value of the Egyptian's assets is estimated at between 40 and 70 billion dollars, while the Mexican Carlos Slim, the richest man in the world, has 54 billion, followed by Bill Gates who has a fortune of 53 billion dollars . Using his rank and power the former dictator was able to invest in his managerial skills and was able to take part in the most important deals in the country. “There was no need for accountability and transparency,” said Princeton University professor Amaney Jamal, “he could reach into the economic sphere and benefit from monopolies, bribes, bureaucratic waste and nepotism. It was a guaranteed income."
In short, Mubarak knew how to use his wealth for his own gain and spread his wealth in Egyptian circles of power. This is the reason why he managed to stay in power for more than thirty years and which explains why the military preferred to gently expel him instead of driving him out of the country.
Sources:The daily news egypt
