|Estimated value:||€180 billion|
|Country of origin:||Libya|
|Source of Wealth:||rulers of Libya|
Muammar Muhammad Abdassalam Abu Minyar al-Gaddafi was a ruler born on June 19, 1942, who was the head of state of Libya from 1969 to 1979 and ruled the country dictatorially from 1979 to 2011. This made Gaddafi the longest-ruling ruler in Libya, even though he was born the son of humble Bedouins. Gaddafi made a lot of money from his country’s oil deals and lived a very eccentric lifestyle. On his European journeys, he mostly stayed in Bedouin tents specially set up for him and was guarded by his female bodyguard.
Muhammad al-Gaddafi was born in Sirte on June 19, 1942 and came from a Bedouin family. His father worked as a goat and camel herder and earned little money from it. Since the Bedouins at that time were mostly illiterate and had no birth certificates, Gaddafi’s place of birth and exact date of birth cannot be determined with certainty. Even as a young child, Gaddafi saw how the colonialist occupation of the country directly affected his family and his life. His grandfather died fighting the Italians and his father also fought against Italian troops in Gardabia in 1915. His father and one of his uncles were even held in a fascist detention camp for a long period of time. So it’s not surprising that Gaddafi was already interested in the Arab-socialist and nationalist ideologies of Egyptian President Gamal Abdel Nasser as a teenager.
As a result, Gaddafi was expelled from a high school in Sabha because of his political activities. However, he was still able to finish his schooling in a school. After graduating from school, Gaddafi first studied law and history, but then decided on a military career. There are different statements as to whether he completed his training with great success or failed.
In 1966, Gaddafi founded the “League of Free Officers”. With this he overthrew King Idris on September 1, 1969 in a bloodless coup when he was abroad. As the leader of a military junta, Gaddafi then took power in the country and, together with the Revolutionary Command Council (RCC), proclaimed the Libyan Arab Republic. In shaping Libya into a socialist state, Gaddafi oriented himself towards the Arab nationalism of his idol, Gamal Abdel Nasser.
In the years that followed, Gaddafi tried to push back Western influences in Libya and launched an Islamization campaign. Also thanks to the country’s new oil policy, Gaddafi consolidated his influence and began to amass a considerable net worth. Under his leadership, Libya became the first Arab country ever to increase its share of oil profits to 55%.
highlights of his career
During the years of his ruthless and sometimes brutal rule, Gaddafi managed to raise the general standard of living in Libya and make it one of the highest in all of Africa. On the other hand, Gaddafi also ruled with an iron fist and became increasingly involved in international terrorism. By the late 1980s, Libya’s oil business was booming and Gaddafi was earning more than well with it. At peak times he is said to have amassed a net worth of 179 to 180 billion euros.
Famous quotes from Gaddafi
“Libya has lived 5,000 years without oil and is poised to live another 5,000 years without oil.” Gaddafi repeatedly got into political conflicts, including with America and various European countries, and was confronted with various economic sanctions as a result of these conflicts. As a result of this and a changed political mood in the country, oil production in Libya fell drastically in the 1990s.
18 billion euros of Gaddafi’s former assets are still in several Belgian accounts. And that, although his money should actually be frozen. But the authorities are not allowed to access any interest and dividends that accrue on the original assets. Therefore, large sums of money that are in Belgian accounts regularly flow out. Most of the money will go to the Libyan state fund.
|Estimated value:||€180 billion|