Aug. 14, 2002
'Arafat's a billionaire'
By NINA GILBERT

Palestinian Authority Chairman Yasser Arafat's is worth an estimated $1.3 billion, OC Intelligence Maj.-Gen. Aharon Ze'evi (Farkash) told the Knesset Foreign Affairs and Defense Committee on Tuesday.

Ze'evi also said that Arafat's financial adviser Muhammed Rashid is continuing to channel funds to Arafat, despite the progress made by newly appointed Finance Minister Salem Fayad in taking control of the ministry's finances.

According to Ze'evi, the income from PA monopolies is still being channeled to Arafat and Fayad has not yet succeeded in taking control of that money.

As for Arafat's position, Ze'evi said that he is "isolated," but is maintaining his power and legitimacy by means that include the meetings of his ministers with Israeli officials.

Even those who are close to Arafat are trying to maintain a distance from him, and are insisting on being part of the decision-making as a condition for cooperation with him, he added.

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What $1.3b could do by Tal Muscal

With wealth greater than that of Jeff Bezos, founder and chairman of Amazon.com ($1.23 billion, according to Fortune magazine), Palestinian Authority Chairman Yasser Arafat could pour his money into new housing, hospitals, and health care.

For $1.3 billion, 40,625 six-family dwellings could be built for PA residents ($32,000 per unit).

It could feed 3 million Palestinians for an entire year, and leave $892 million to be spent on 1,000 mobile intensive care units ($69,900 each), as well as funding for 10 hospitals, such as Gaza's Ahli Arab Hospital, for 10 years, leaving $585m. to fund other social projects such as:

Computerization of 10 hospitals at a cost of $4.57m.

The annual salaries of 10,000 medical employees ($4,200 each).

Hepatitis vaccinations for 3 million PA residents ($11.25 per injection).

The price quotes are based on statistics of NGOs providing humanitarian assistance to the PA, presented by the American Israel Public Affairs Committee.