The Mugabe Wealth

Presidents who over stay in office tend to have accumulate wealth, mostly from illegal sources. Could Robert Mugabe be called rich? This begs the question what was Robert Mugabe’s net worth?  

Robert Mugabe
Source : Independent.co.uk

According to celebritynetworth.com, Mugabe had a net worth of 20 million US dollars, which is equivalent to just over 16 million British pound sterling.

But that’s not all. In 2011, Wikileaks published a communication written by the U.S. embassy in Harare, Zimbabwe’s capital that suggested Mugabe’s wealth to be around a billion U.S. dollars.

The memo indicated that most of Mugabe’s assets are outside Zimbabwe in places such as Switzerland, the Channel Island, Hong Kong etc. The Hong Kong property is valued at more than 5 million U.S. dollars.

Wikileaks also revealed that in Zimbabwe, the Mugabe family has six residences, a number of farms and a multi-story building then under construction.

The mansion, popularly called The Blue Roof has been value by a Zimbabwean media group, the Citizen to be worth 9 million U.S. dollar.

The Citizen also listed what it says are other Mugabe family quote ‘toys and trinkets’ these are,

A custom-made Mercedes Benz “able to withstand AK-47 bullets, landmines and grenades. It also features a CD and DVD player, internet access and anti-bugging devices.”

A Rolls Royce Phantom edition that is so exclusive, “only 18 were ever manufactured.”

A 100-carat anniversary ring ordered by Grace Mugabe valued at 1.35 million US dollar.

The former first lady, Grace Mugabe, whom local media tags as “the First Shopper” or “Gucci Grace,” may have once gone on a 75,000 US dollar shopping spree in Paris, according to the U.K. Guardian newspaper.

Do we know how Mugabe’s wealth was acquired?

The Economist alleged that after the land redistribution project was one of the sources of his wealth. White Zimbabwean farmers had their lands taken away and it ended up with his loyalist that funded his wealth.

Wikileaks add that Mugabe maintained a close relationship with many people in Congo after that country’s five-year civil war. And possibly benefited from the conflict stones that emerged from the unrest.

Global Witness linked the Congo’s Conflict Diamonds to Zimbabwe Consolidated Diamond Company (ZCDC), that was formed just in the last few years by Mugabe.

 The full extent of the Mugabe wealth may not be known but the legacies of his rule is still very much alive with Zimbabwe and Zimbabweans.