Cuba's Castro worth a cool $900M

Report: Cuba's Castro worth a cool $900M
Fortunes of dictator estimated at nearly twice that of Queen Elizabeth
II in
annual ranking of 'Kings, Queens & Dictators.'
May 4, 2006: 7:33 PM EDT
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."

http://money.cnn.com/2006/05/04/news/newsmakers/castro_forbes.reut/index.htm