ALBAWABA – Yesterday, Dec. 8, the regime of Syrian President Bashar Assad collapsed after Syrian opposition rebels took control of the capital, Damascus. Moscow confirmed that Assad fled the country to Russia following 13 continuous years of war and over five decades of Assad family rule.
Syria's Assad family fortune
Reports suggest that the Assad family’s estimated fortune ranges between $1 billion and $2 billion. However, the US Treasury Department noted in a 2022 report that this estimate is likely inaccurate.
According to the report, the Assad family owns numerous assets, hidden accounts, diverse real estate holdings, and several companies outside of tax systems, making it difficult to determine their true fortune.
Additionally, it is believed that assets outside Syria may be registered under the names of other individuals to conceal ownership and evade sanctions.
Bashar and Asma Assad
Asma Assad is known for her significant influence over the economic committee managing Syria’s ongoing economic crisis. This committee oversees decisions related to food and fuel subsidies, trade, and currency issues.
In 2019, Asma Assad launched EmmaTel Telecommunications Company with a Syrian businessman.
Additionally, Asma Assad's cousin, Muhannad al-Dabbagh, and brother, Firas al-Akhras, run Takamol company, which runs the electronic smart card program that is used to distribute food in Syria.
Reports suggest that the Assad family’s estimated fortune ranges between $1 billion and $2 billion. (Shutterstock)
Maher Assad
Maher Assad, Bashar Assad's brother, was a Syrian military officer and commander of the Syrian Army's elite 4th Armored Division, which, together with Syria's Military Intelligence, forms the core of the country's security forces.
Maher heads a network involved in illegal activities both in Syria and abroad. His network operates businesses in the telecommunications, information technology, engineering, energy, and tourism sectors.
Previous reports have revealed that the 4th Armored Division collects fees from vehicles passing through both official and unofficial Syrian checkpoints, imposes protection fees, and charges ownership fees on commercial transportation.
Notably, Maher Assad owns multiple investments in diverse fields, including contracting, energy, and the IT sectors.
Syria's ousted President Bashar Assad and his younger brother Maher Assad. (Photo: AFP/Getty Images)
Rami Makhlouf
Rami Makhlouf is a Syrian businessman and the maternal cousin of former President Bashar Assad. He was added to the US government sanctions list in 2008 due to his assistance to the Syrian regime and involvement in corruption.
According to sources, his net worth is estimated at approximately $5 and $10 billion. Previously, he owned Syriatel, one of three mobile network providers in Syria.
Additionally, Makhlouf owned around 50% shares in stake in Cham Holding, the largest holding company in Syria.
Bashar Assad arrived in Moscow and was granted asylum after he decided to resign and leave Syria, according to Russian news agencies.
