Americans who buy Woman's Day, Elle, Car and Driver or Road & Track magazines may be surprised to learn that Saddam Hussein is a partial owner, according to a U.S.-Kuwait investigation into the Iraqi president's finances.
The investigation found that Saddam's family skimmed $10 billion in oil profits since 1981 and bought nearly $1 billion worth of shares in public companies, a government source confirmed Monday.One of those companies is Paris-based Hachette SA, one of the world's media giants, which publishes the magazines. The stock purchases were made by Saddam's half-brother and several Iraqi directors, according to the chief investigator in the probe, Jules Kroll.
Kroll discovered that Saddam's holdings include an 8.4 percent stake, worth about $64 million, in Hachette.
He described Saddam, who took power in Iraq in 1979, as one of the world's richest men.