Washington Prowler

Rich Man, Power Man

Bill Clinton's Gulf state nest egg.

By 3.23.07

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The Clinton Crack-Up, by American Spectator founder and editor in chief, R. Emmett Tyrrell, Jr., recounts former President Bill Clinton's efforts to build closer financial ties to overseas investors and money men, and reports on the millions the former president has made from those relationships.

But as Sen. Hillary Rodham Clinton continues her campaign for the Democrat presidential nomination, renewed focus is being placed on exactly how the Clintons have made their millions in just the past six years.

Wall Street insiders are abuzz over estimates that Bill Clinton alone may have roped in more than $200 million in funds from the Emir of Dubai and other individuals based in the United Arab Emirates.

"This includes personal funds, money paid into the Clinton Library charitable accounts, as well as money paid into the charitable organizations Clinton worked on for the Tsunami and Hurricane Katrina victims," says one knowledgeable Wall Street financier. "We're talking about a lot of money."

Clinton has made a number of trips to the UAE in recent years, collecting appearance and speaking fees estimated at more than $300,000 per. The former president has also served as what one Clinton insider calls an "investment adviser" to some of the UAE's wealthiest men, and stands to collect fees in the hundreds of thousands of dollars for brokering the partnerships and investment deals that move forward through investment and real estate firms in New York and Europe.

As we previously reported, Clinton insiders say Clinton also collected a consulting fee for work on the early iterations of the Dubai Ports deal in 2006, passing work to his former secretary of state, Madeleine Albright, and other members of his administration inner circle.

More than a few million of Arab money ended up in the Clinton Library, where the former President maintains a residence. Millions poured into the facility from the Saudi royal family and the governments of Dubai, Kuwait, Qatar, and Brunei. Similar millions were drawn to the two charitable accounts for the Katrina and Tsunami natural disasters.

"You hear that Clinton may have pulled in as much as $100 million from all these sources, but on Wall Street and elsewhere in New York, you often hear a higher figure in the $200 million range," says one equity fund manager in New York. "You look at his global charity, his personal appearances, and the work he does quietly in Washington and it all adds up. This isn't about funding lifestyle, it's about power and using it for influence to help Hillary when she -- and he -- needs it."

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