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    HomeLATEST NEWSThe Lavishing Lifestyle of The BILLIONAIRE Ali Bongo: 90 Billion Cash Found...

    The Lavishing Lifestyle of The BILLIONAIRE Ali Bongo: 90 Billion Cash Found at His Mansion

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    If anyone had told Ali Bongo, the former president of Gabon that one day he would join the ranks of African presidents who were ousted from office, he would have probably laughed at them. In fact, with so much confidence, Bongo said that “While our continent has been shaken in recent weeks by violent crises, rest assured that I will never allow you and our country Gabon to be hostages to attempts at destabilization. Never,” Unfortunately on Wednesday, August 30th, President Ali Bongo woke up to find himself under house arrest by military forces and accused of “unpredictable, irresponsible governance as well as embezzlement and corruption.Sitting in a richly carpeted room, Ali Bongo spoke rather pitifully saying “I don’t know what’s going on,” and pleaded with his friends from the international community to make noise. What could have given Bongo such confidence in the face of the widespread military coups? It’s probably the fact that his family has ruled Gabon for more than 50 years. However, that was not enough to protect him because, like other African countries ruled by dictators, the people had had enough of Bongo’s continued exploitation and the military took advantage of this.

    This is not the first time that the military has attempted a coup. Early in 2019, while Bongo was recuperating from a stroke which had kept him from his presidential duties, the military attempted to overthrow his government but they were unsuccessful as they were caught and quickly arrested.One of the most notable characteristics of the Bongo family rule in Gabon was corruption coupled with complete control of the resources in Gabon resulting in them living an extremely lavish lifestyle. Recall that Gabon is a sparsely populated country with just two million people that has an abundance of oil, producing 181,000 barrels of crude oil a day and making it the eighth-largest oil producer in sub-Saharan Africa as well as an important member of the OPEC grouping. According to the U.S. Energy Information Administration, Gabon’s oil export revenue was $6 billion in 2022. This means the country’s resources are more than enough to cater to the needs of the people.

    Despite this, a considerable number of the population lives in poverty, and approximately 40% of persons aged 15 to 24 are unemployed. In contrast, Gabon’s oil reserves have enriched its rulers. Bongo is one of the richest presidents in Africa and has been associated with extravagance and an opulent lifestyle that has attracted international attention.During his recent presidential campaign for a third term, he sported a white suit by Vinci worth roughly $200, which is more than half the country’s minimum wage in Gabonese currency. In addition, four months after Ali first took office, a leaked document revealed that his office had purchased 29 expensive automobiles worth at 12.8 million euros through a Swiss company. Two Maybach 62S valued at 26,680 euros each, two Rolls Royce Phantoms at 371,453 euros each, and two Rolls Royce Ghosts 227,994 euros each were part of the deal.

    Four years later, the head of Gabon’s public spending watchdog, Jean-Fidele Otandault, stated that “half of the state’s budget had simply vanished” when probing the country’s lack of cash. According to government insiders, the president enjoyed taking the high-speed vehicles for joyrides in the desert while his security accompanied him.But this was not the beginning of the family‘s wealth. The Bongo family’s wealth started when Ali’s father, Omar Bongo took office in 1967 at age 31. Omar came to power peacefully in a post-colonial period when other West African countries were through conflict or successive coups. His family had a strong relationship with former colonial power France, and he kept power by concentrating the country’s natural wealth under his control, investing some in large-scale infrastructure projects while rewarding political opponents with lucrative positions in his government.

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