Qaddafi: How much is he worth?

(CBS News) 

In Switzerland, the government ordered a freeze today on any assets Qaddafi may have there. In the U.S., the Treasury asked banks to watch for any suspicious transactions involving Libyan accounts.

Qaddafi has ruled his oil-rich country for more than 40 years - but how much is he worth? Chief investigative correspondent Armen Keteyian reports government officials are still trying to figure out exactly how rich the Libyan leader and his family are. But one intelligence source told CBS News their wealth is estimated to be "in excess of $20 billion."

Complete coverage: Anger in the Arab world

"With all those revenues flowing through the national government, through the treasury, it's pretty easy to tap those revenues for various purposes," Raymond Baker director of the Global Financial Integrity said.

Confidential diplomatic cables unearthed by WikiLeaks underscore that estimate. In a January 2010 State Department cable written by current ambassador Gene Cretz, he states Qaddafi's regime controls $32 billion in liquid assets around the world. And "that several American banks are each managing $300-500 million" in regime funds.

"I remember interviewing the director of the Central Bank at one point who admitted that quite frankly, he had no idea some years what money went where, and under what circumstances," said Dirk Vandewalle, author of "A History of Modern Libya")

The cables portray Qaddafi as understated with his wealth in Libya - while his eight children spend lavishly overseas: exotic hunting trips, New Year's Eve parties in St. Bart's featuring superstar entertainment by Beyonce and Usher; a luxury home in London's richest neighborhood.

Streams of government oil and gas money reportedly flow to all family members. Which, in turn, are said to finance investments in Libya. Everything from telecommunications to shipping and even a plastic surgery clinic.

If the U.S. wanted to go after Qaddafi's assets, President Obama could designate Libya a "rogue regime," giving banks the power to freeze whatever funds they find.

[kjordan3637]

Wow, this situation just seems to get worse and worse. It is hard to imagine this not turning very ugly soon. The U.S. had better stay out and leave this alone. We are already hated enough in this part of the world. Our involvemen­t will taint the new government and create more enemies.

Take a look at this very interestin­g infographi­c that provides an overview of Libya, its economy, and the developmen­ts so far..

http://precisiontradingsolutions.blogspot.com

[yd372801]

Was breaking of people's disturbamce in Tunis,Egypt suddenly wake up
among for the most part of conscious young people,was suffering from unemployment men has feel an indigation,desire of justice. An apparition
freedom and independence by purple glow was wanderring most of people.The President Mubarak was feeling burden living years,of sickness were especially not hinder to destiny and an opportune moment quietly was moving off. Meanwhile h's been "effec domino"of revolutionary euphoria come to Libay. This is a fatal the day twenty-two Febrary 2011
years Muammar Gaddafi does to feel nostalgia the last of years. He had remember hard of childhood,nomadic lives to family a beduin. In 1961 year Gaddafi h'd been enteren the Libyan of militari academy. Him does rebellious mind were seek something an exceptional. He did re-read avidly of the philosophical of books is anarchist Krapotcin and does rebel Bacunin. Were already at the time Gaddfi was understand that an indispensable attribute of capture the State power has been double terrorism. At the same time Gaddafi were perception thatis key factor absolute power become of economic. Therefore to him youthful years become an idol imitation the presiden Egypt Abdel Nasser. Gaddafi has astonishing delight were observe as Nasser be conducted nationalization the Banks,an expatriate from Egypt was hateful "britisher" and was keeping of Suez Canal, used of support former USSR would building Aswan Dam. For Abdel Nasser were not existence gradation a political the events
- as if would the all been black and white. Nasser had the same turn down American capitalism and an intervention Fundamentalism and were suppose that alliance "The Brother -Muslim" of the countries Africa and Near East was further of prosperity people...... At the begining one's own of governing Gaddafi were experiment by wild an idea the anarchism, which be considered that of country not obligatelly to have own the Army
and that a simple people's home guard were may be parry a blow the worst.
Did both the hands was embrace head Gaddafi was torment oneself. What to do? I have soldier of fortune from other of countries and them the same was killing my own people's or the worst. But an other a side it's a brutal crowd ability was frustrate my dreams,vain hopes the Great consolidation of people's Africa and Near East. Life or death?

[Molly-Pchr]

Not worth a plug nickel.

[cktirumalai]

Marcos, Mubarak, Qaddafi, a host of African dictators, and Swiss and other foreign banks: a familiar and depressing story. Inventing catchy slogans, pretending to identify with the people but living most unlike them.
Candadai Tirumalai

[scottyusa]

He is worth about 2 cents morally. It is sweet watching what is happening to him. He may be the hardest to fall but he will fall.

[Harden_Tar]

I don't know, how much is a .44 bullet going for these days?

[olbabee]

Not much & I might say a very worthy investment.

[demongirl60]

He DOES want to be careful.... his killing hos OWN people is going to turn around and bite him right square in the BUTT!! As far as I am concerned, Quadaffi isn't worth a red cent. In my humble opinion, people are getting sick and tired of seeing ONE person hork up a WHOLE NATIONS money and resources, and they saw what happened in Egypt. If it can be done there, it can be done anyplace. The time of dictators has passed.

[Poule_doux]

So how much will he be worth without his head?

[jazzer9]

I have respect for a body of people trying to change to what they believe in. All of us "we the people" all over the world just want peace and a good life. There are some bad mean greedy people in the world. Really, a person is worth all of that money and they still order the people shot. "Really"? At least the people there showed some passion that something had to change.

[demongirl60]

It isn't going to go as easily in Libya as it did in Egypt, but I think in the end the PEOPLE will win....

[kevjustice]

like libya is the only country that has greedy people is that your message. the u.s.a. is the land of greed where 2% of the people control about 40%-50% of the wealth.yeah, a few greedy people screw the majority time and time again and when people want some justice the greedy cry socialism like it's a dirty word.