London: Although he has been dethroned, former Egyptian President Hosni Mubarak has managed to gather wealth which might make him the world’s richest man with his assets estimated to be whopping USD 70 billion dollars.

Mubarak's wealth comes from offshore accounts deposited in secret bank accounts or invested in luxury homes and hotels, according to a newspaper.

It has also been reported that in over 30 years of presidency, the former Egyptian President had access to investment deals that over time have generated huge profits. According to the newspaper, most of these gains were taken offshore.

He owned properties in Manhattan and Beverly Hills, while much of the money was kept in the banks in England and Switzerland.

Christopher Davidson, a professor of political science at Durham University, said that gathered wealth through a series of business partnerships with various foreign investors and companies with whom he was closely connected since the military stage.

The 70 billion dollars would put Mubarak comfortably ahead of Mexican business magnate Carlos Slim, who is worth about USD 53.5 billion, and Microsoft founder Bill Gates, with 53 billion dollars.
 
(Agencies)