A luxury superyacht worth $380 million for African dictator Obiang’s son

Looks like bloody coups and revolts against them is a new and welcome trend. Amidst the chaos at Egypt and Libya, the news of the son of Equatorial Guinea’s dictator of 30 years commissioning a luxury super yacht cannot come at a worse time. Costing a staggering $380 million, the amount is almost thrice the country’s health and education budget. Global Witness reports that the German based Kusch Yachts would build this yacht with a cinema, restaurant, bar and swimming pool, although the yacht is yet just on paper.

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Teodorin Obiang already owns a $35 million-dollar mansion in Malibu, California, and a $33 million jet apart from hordes of luxury cars, all this at a measly salary of $6,799 a month as the agriculture minister of the nation. Forbes magazine says the minister is worth a stunning $600 million. So much for anti-corruption and clean governance! Another revolution in the brewing? Only time can tell.
[TimesLive]