“Teodorin” as popularly called is not in the list of Forbes billionaires but he spends twice as the Billionaires we know. He is the son and if it were safe, the heir apparent of Equatorial Guinea’s Dictatorial leader(since his successful 1979 coup). Well it is an open secret that most African politicians and leaders are billionaires but they choose to play the game safe by stashing the money away in foreign accounts to attract less attention to themselves. However, they always get discovered in due time. It appears the famously infamous Teo has captivating tips for spending embezzled money. As much as he denies any fraudulent involvements, nothing better explains the source of the millions of dollars that he casually splashes all around the world. In October 2014, international authorities confiscated most of his properties home and away, as they found strong evidence that these properties were ill-gotten through the misappropriation of nation funds and fraudulent dealings. Investigations revealed traces of money laundering through transactions of ghost companies. His assets have subsequently been liquefied with the proceeds going to charity and back home to the people of Equatorial Guinea.
Assessing the history of the family members who are the only 2 post- independence rulers, there are obvious traits of Kleptocracy in the government. Teo’s father, the current president of the Country, toppled his uncle’s government, took over but has no much decent achievements to show for it. The Nguema family clearly do not have the political spirit of sportsmanship, they dread opposition but however display an intention to run a monarchical style of governance. Wikipedia records that Equatorial Guinea is one of the large sub-Saharan oil producers and is Africa’s richest nation per capita. Under the regimes of the Nguema men, Equatorial Guinea perfectly fits the description of a wealthy country that is unfortunately known for gross negligence of human rights and human trafficking. It has disappointingly made a top spot in the list of World’s most corrupt countries, all because individuals at the helm of affairs choose to be selfish and inconsiderate.
Teodoro is the lavish playboy you see in the movies and unlike the dubious undetected billionaires in government, Teodoro spends that cash like no man’s business and in the most outrageous manner. Rumour has it that he has uncountable bank accounts, and judging from latter ordeal with the law, leading to the confiscation of some of his properties, one is forced to believe there is more to it than meets the eye, more so when his ministerial income cannot foot the bills of some of the things he spends on. Guinea just like most African countries have needs that money can at least fix, regardless of that, this insensitive “heir” did not bat an eyelid before he lavished money on the following luxury toys:
1. Rent/Order A Multi-Million Dollar Yacht
At the expense of the needs of his people, Teo in the bid to impress his then rap superstar girlfriend, Eve, rented Paul Allens boat for $400, 000; and in later times, ordered for his own customized $380 million yacht. Forbes reports that the yacht was proposed to have a cinema, restaurant, bar, swimming pool and a security system with floor motion sensors and fingerprint door openers.
2. Luxury Mansions
Teo studied in Pepperdine University, California, from where he did not only bag a degree but also bagged a $35 million Malibu mansion. The cosy and nature friendly property contains a 4-hole golf course, tennis court, and swimming pool.
Teo is the owner of a 101-apartment mansion in the 16th arrondissement of Paris estimated to the worth of $100- $150 million. In addition to that, he also has more luxury houses in London, Cape Town and Argentina- 2 of his luxury homes in Cape Town are at the worth of $4 million.
3. Fleet Of Exotic Cars
11 of Teo’s super-cars consisting 2 Bugatti Veyron worth $1 million each; Bentley ($518, 255), Lamborghini ($74, 126) were also seized in France in the course of the investigation. The prodigal prince and the country’s second Vice President practically has no clue what to do with his money. Just maybe if they were earned genuinely, he’d be more prudent with his fortune.