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The incredible story of the world’s richest arms dealer, Adnan Khashoggi
Adnan Khashoggi was the charismatic arms fixer clients, classmates and even the US government could rely on. But unlike his rivals, his deals were brokered not in backstreet dens but at parties drowning in Champagne, caviar and Hollywood A-listers. So just how did the world’s richest man lose his fortune?
I first heard of Adnan Khashoggi at a gathering in a golf club outside Marbella. The guests were the owners of mansions dotting the hills on the outskirts of town. If you looked down the valley past the fairways and greens, you could see the tax haven of Gibraltar just out to sea. I was chatting to a London hedge fund manager who, realising I didn’t work in finance, changed the topic to the club’s previous owner.
‘You know all of this used to belong to Khashoggi?’ he said. ‘This whole estate used to be his private hunting ground. This was his lodge.’ I’d wondered what relation the taxidermy and animal skulls plastered on the walls bore to golf, but I had no idea who the man was. Having seen the size of the estate spread across the face of two mountains, I was intrigued to find out.
Today, he is something of a forgotten legend, but in the Eighties he was at the very centre of the international jet set. Although never convicted of any crime, he made his $4bn fortune from brokering deals between arms manufacturers, governments and private clients. He was considered the richest man in the world and became famous for his life of extravagance and excess.
The media labelled him the era’s most prolific weapon dealer before he was implicated in a scandal that destroyed his business and almost brought down the US government in the process.
The hedge fund manager was surprised I’d never heard of him and told me that Khashoggi’s sister was Dodi Al Fayed’s mother, thinking it’d give some idea of who he was talking about. ‘The Spanish government seized the estate from him and sold it on, but the basement is completely untouched since he lived here. It’s like a time warp. The parties he had down there were legendary.’
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https://www.thegentlemansjournal.com/article/incredible-story-worlds-richest-arms-dealer-adnan-khashoggi/