Reports are emerging that the late Libyan leader, Muamar Gaddafi had invested close to US$200 Billion across different industries around the world. Ever since he came into power in 1969, Gaddafi ruled Libya as if it was his personal empire and all the monies he took out of the country for investment purposes were invested, not on behalf of the state but, for his personal gain. Viewed from this perspective, by the time he died, Gaddafi was (odd as this may sound) a multi-billionaire.
The billions Gaddafi took out of his country were made from the sale of crude oil and petroleum related products. Libya has the 10th largest oil reserves in the world, with proven reserves in excess of 46 billion barrels. Before the 2011 revolution, aimed at overthrowing Gaddafi, the country was also among the leading producers and exporters of crude oil. While Libya has one of the highest GDP's per capita in the world (US$14,000), many of the country's 6.4 million population remains poor and destitute.
In the age of the Internet, Facebook and Mobile Telephony, it is becoming so much easier for citizens of the oppressed nations to expose the injustices of dictators to a sympathetic foreign audience and as such more and more dictators are coming under serve pressure to change their ways or leave power completely. No doubt Gaddafi's overthrow was inspired by what happened in Egypt and Tunisia. It appears that it is only a matter of time until similar changes take place in Syria.
In my opinion, over the next few years, and driven largely by social networking platforms, citizens uprisings will spread beyond the middle east to many other countries around the world where dictators are in power. To that extent, keep an eye on Venezuela, Cuba, Zimbabwe and indeed North Korea.
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