The Middle East is known for both its incredible wealth and crushing poverty often with very little middle ground. Oil rich nations have provided opportunities for even those not involved in the oil industry to make insane amounts of money. Sometimes that wealth can create some unwanted attention, likeKuwait did in 1990. But the country that has managed to develop a national wealth off its massive oil stores has managed to rebuild and is home to some of the region's richest people with households full of full-time staff and expensive sports cars filling the streets. The country’s massive oil revenue from exports has until recently allowed the small nation of 4.1 million people to forgo any taxes and still provide free education and healthcare. WIth falling oil profits depleting the country’s wealth funds over time the country has had to start looking towards other opportunities to keep Kuwait’s status as the fifth richest planet in the world. Even their currency exudes wealth as the most valuable currency in the world, demanding $3.30 per one Dinar. Despite the high concentration of wealth the country has had to invest in clean up programs to battle the citizens tendency to just leave their trash on the sidewalk. While the country has had as many as five citizens on the Forbes Billionaire list, the last year has taken its toll removing the billionaire status for any national who previously had it. Does Kuwait sound like a good place to be a billionaire to you? Let know in the comments and while you’re there be sure to like and subscribe for the latest content.
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Written by: Ryan Carbrey Narrated by: Clinton Conyer Edited by: Gonzalo L.
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00:00 Intro 00:09 Alghanim & Sons 03:24 Kharafi & Sons 04:50 Money Rules 06:49 Waning Fortunes