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African dictator's son orders luxury superyacht ($380 million yacht)
Yahoo | AP ^ | 2/27/11 | MICHELLE FAUL

Posted on 02/28/2011 10:48:42 AM PST by LibWhacker

JOHANNESBURG – The son of Equatorial Guinea's dictator of 30 years commissioned plans to build a superyacht costing $380 million, nearly three times what the country spends on health and education each year, a corruption watchdog said Monday.

The statement from Global Witness said that German company Kusch Yachts has been asked to build the yacht, housing a cinema, restaurant, bar and swimming pool, though construction has not yet started.

Global Witness has been urging Washington to institute sanctions against Teodorin Obiang, whose extravagant lifestyle currently includes a $35 million-dollar mansion in Malibu, California, a $33 million jet and a fleet of luxury cars, while earning a salary of $6,799 a month as agriculture minister.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Crime/Corruption; News/Current Events
KEYWORDS: africa; dictator; equatorial; equatorialguinea; guinea; yacht
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To: LibWhacker

With all the unrest around the globe, he’s got to have some way to escape. May as well go in style!


41 posted on 02/28/2011 12:25:36 PM PST by SouthTexas (Tea time!)
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To: LibWhacker

I think I first heard about this guy years ago in a joke titled “Shortest books ever printed”...


42 posted on 02/28/2011 12:26:30 PM PST by Charles Martel (Endeavor to persevere...)
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To: LibWhacker
"With a schedule as hectic as President Obama's it must be hard to stick to a training regimen without help -- but why does he insist on having his old trainer fly out from Chicago to D.C. regularly when Obama and his wife exhort the rest of us to drive less? And in a recession? According to Ashley Parker at the New York Times, Obama's fitness czar Cornell McClellan comes out to D.C. every week:"

Could it be?-Nah!

43 posted on 02/28/2011 12:27:51 PM PST by AEMILIUS PAULUS (It is a shame that when these people give a riot)
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To: RexBeach
I wonder what the annual upkeep is for a 380-million-dollar yacht?

Yacht upkeep is normally quoted as 10% of purchase price. That's what's keeping me out of that market.

44 posted on 02/28/2011 12:28:21 PM PST by John O (God Save America (Please))
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To: LibWhacker

owns seven Ferraris, five Bentleys, four Rolls-Royces, two Lamborghinis, two Mercedes-Benzes, two Porsches, two Maybachs, and an Aston Martin, which he somehow affords on his $5,000 a month official salary. He has since tired of those jalopies and now favors a blue Bugatti Veyron.

Bugatti Veyron motor car. There are 35 of them in existence. They cost one million euros each. Three of them are owned by a guy called Teodoro Obiang, the Minister of Forests of Equatorial Guinea.”

http://pajamasmedia.com/richardfernandez/2011/02/22/style/


45 posted on 02/28/2011 12:29:01 PM PST by DUMBGRUNT (The best is the enemy of the good!)
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To: LibWhacker

Maybe guys like him are the reason all the relatives of rich Africans keep writing to me to ask me to hold some money for them, for safekeeping. Of course, I’d like to help them, but....


46 posted on 02/28/2011 12:43:58 PM PST by married21 (As for me and my house, we will serve the Lord.)
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To: akk

Equatorial Guinea citizen's house

Equatorial Guinea's President's Son's $35m Malibu mansion

47 posted on 02/28/2011 12:46:19 PM PST by Liz (A taxpayer voting for Obama is like a chicken voting for Col Sanders.)
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To: FrankR
Gee...my dad gave me $50 for my 21st birthday (1966) and I thought I was rich.

My 21st. b/day was also in 1966, all I got was, "only one more year left to serve in the military".

48 posted on 02/28/2011 1:42:57 PM PST by Graybeard58 (Of course Obama loves his country. The thing is, Sarah loves mine.)
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To: RexBeach

Does that include the helicopter?


49 posted on 02/28/2011 1:52:37 PM PST by bjorn14 (Woe to those who call good evil and evil good. Isaiah 5:20)
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To: Graybeard58

I had already been in over two years by that time...with two left to go.


50 posted on 02/28/2011 2:00:27 PM PST by FrankR (The Evil Are Powerless If The Good Are Unafraid! - R. Reagan)
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To: FrankR

July ‘63 to July ‘67 for me.


51 posted on 02/28/2011 2:15:07 PM PST by Graybeard58 (Of course Obama loves his country. The thing is, Sarah loves mine.)
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To: Graybeard58

jan ‘64 - jan ‘68, USAF


52 posted on 02/28/2011 2:16:58 PM PST by FrankR (The Evil Are Powerless If The Good Are Unafraid! - R. Reagan)
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To: bert

53 posted on 02/28/2011 3:47:47 PM PST by Rebelbase
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To: bjorn14

Hah! More than likely, two helicopters!


54 posted on 03/01/2011 7:39:32 AM PST by RexBeach (There is no such thing as a good tax.- Winston Churchill)
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To: mmercier
After reading your post Sir, I consider you to exhibit a rather unpleasant racist tendency.
55 posted on 03/01/2011 10:42:45 AM PST by mmercier (take a look at yourself)
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To: LibWhacker; PJ-Comix
It just goes to show how far a little frugality can go. This guy has got to be a couponer.
56 posted on 03/01/2011 10:55:29 AM PST by Billthedrill
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To: RexBeach

The standard annual upkeep estimate for megayachts is 10% of the cost of the boat.


57 posted on 05/26/2011 2:27:15 AM PDT by golux
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