Isabel dos Santos shows how Gupta family, many of wealthiest get rich: On our backs!

The story of Isabel dos Santos has laid bare stark reality that many of world's wealthiest don't get rich by playing according to the rules.
Published on: 

The story of a major scandal involving Africa's richest woman, Isabel dos Santos, has laid bare the stark reality that many of the world's wealthiest do not get rich by playing according to the rules that ordinary entrepreneurs and hard-working people must adhere to. Dos Santos, the billionaire daughter of the former president of Angola, claims to be a self-made businesswoman, but documents investigated by the Guardian newspaper and partners appears to tell a different story about how Dos Santos built a business empire worth an estimated $2bn. "Dos Santos has made her name, and fortune, through key roles and investments in some of Angola's most important industries. She holds stakes in oil, telecoms and banking, was head of the state's oil business, and was behind lucrative plans, since scrapped, to redevelop a vast area of Angola's capital, Luanda," says the Guardian. But the reality is none of these opportunities and deals are likely to have been hers without the advantage of political capital and clever accountants who have navigated through complex tax and other legislation to park her funds where she pays minimal to no tax. The Luanda Leaks sound a lot like South Africa's state capture scandal, including common features – not least of all that Dubai protects the corrupt and the captured. Here's the latest instalment. – Jackie Cameron

___STEADY_PAYWALL___

Loading content, please wait...

Related Stories

No stories found.
BizNews
www.biznews.com