There’s an ongoing battle for ownership of the mega-million dollar newspaper, Newsday. The company launched by Daniel Chookolingo in 1993, is getting no media publicity because two years after its launch, the daily immediately became the fastest selling newspaper in Trinidad and Tobago outstripping the then 30-year old Trinidad Express and the mighty Guardian which was then over 75 years old. Both newspaper and their vast billion dollar media outfits have remained silent since the case was filed in the High Court in 2014.While Newsday’s up-to-date value remains shrouded, there was a valuation done a decade ago which put its worth at over $200 million dollars. Sources close to Mr Chookolingo says this is a bogus value which was given by the Steve Castagne controlled board to buy out minority shareholders to gain full control of his company.
List # 1
The One Percenters of T&T
OVERVIEW:
Guidelines: These names listed here do not pretend to show the full list of what is thought to be the top 1% of T&T’s wealthiest families and individuals, so for those with information to add or delete, they are asked to please send information to us (via emails to this address) so that we may update this site.
The list notably excludes foreign owned companies and those listed on the T&T stock exchange. Many persons in the list have vast real estate holdings (local and foreign) and foreign assets that are not easily known. However, it is worth noting here that many companies listed on the T&T stock exchange are controlled by certain individuals or families, most famous and profitable is the Ansa Mcal Group which is controlled by the Sabga family, considered the Godfather of local Lebanese / Syrians, who originally started the Standard Furniture stores. None the less, the businesses noted here are thought to be the main activity of the respective elites and are not be considered the final word to the extent of their individual or group wealth.
1% Trinidadians who own over 70% of Wealth
INTRODUCTION / PRELUDE
We are pleased to announce this compilation of wealthiest Trinidadians who has been conservatively estimated as owners of over 70% of the wealth in Trinidad and Tobago and to announce the launch of this web site that is intended to start a discussion on the subject of obscene wealth and ownership in Trinidad and Tobago that is surely headed for disaster for this small twin-island state. To be sure, this is by no means a Trinbago issue.
British based Oxfam has asserted that the top 1% of the world’s population now owns 48 percent of the world’s wealth. Credit Suisse puts that figure at over 50% but generally speaking, all internationally reputable agencies involved in this task tend to agree that the worldwide average of 50% is realistic. The world is concerned and even then President Obama found this situation offensive when he spoke at the January 12th 2016 State of the Union address.
In Trinidad, the inequality of wealth and wealth distribution has been pegged at figures well over those quoted internationally so there is more need to be concerned for the future T&T. Some local commentators suggest that the top 1% of Trinidad & Tobago own well over 70% of the wealth, since most of the citizens live on loans and those are held by financial institutions which are owned by the same one percenters.
In light of the recent Central Bank disclosure of foreign exchange (U.S.$) allocations, stating where billions of these precious resources have been diverted, and the Financial Intelligence Unit (FIU) reported in 2017 alone, some $22 billion worth of transactions were suspicious, this web site goal is to further investigate these figures and bring it to the attention to the T&T public.
SOCIAL RESPONSIBILITY
To our knowledge, none of the people in this compilation save and except the Bhagwansingh Group (that supports Diabetes) are not known to be involved in any significant charitable causes, the fight against homelessness, hunger, diseases, human rights and freedoms, animal protection or defence and protection of the environment. Philanthropy is not in their genetic make-up. It is evident that T&T Super –Rich are lacking in giving back to their country from the bountiful fortunes they have made here. They are not generous or support these benevolent goals and are lacking in their social responsibility. Few of the SuperRich who give just dole out what can only be considered pocket change, showing that they are just interested in making more and more money like they are competing against their fellow Super-Rich compatriots or doing it just for amusement. It has been promoted that their only interest is to spoil rotten their children, grandchildren, great-grandchildren and the yet-to-be born family, so vast is the wealth they have individually and collectively amassed. Those who donate a few dollars do it just for the publicity.
THE LEBANESE / SYRIAN FACTOR (Mario Sabga-Aboud Comments)
It would be remiss of us not to mention one specific group that accounts for so much wealth in T&T. It is worth noting here the immense impact that one miniscule group has made on the local landscape and their prominence in the listings. This group (loosely called the Syrians) remind us of their Jewish cousins, because it is a fact that decades ago they came from the same stock of people in the Middle East. The history of the Jews is well known to mankind. Leading up to World War 2, they were the pre-dominant business group in most of Europe and particularly Germany, where because of their clannish behaviour, hording, profiteering, ruthless business activities, unethical behaviour, their stated resistance and policy against inter-marriage and other selfish activities, they were deemed as outsiders. Like the Syrians in Trinidad, these both groups tell their children they will be disowned if they marry outside their race. The Syrian parents tell the children’s boyfriends and girlfriends that they can never be part of the family in order to nip the romance in the bud. A few exceptions have known to be made for the well-to-do and connected whites.
But in the 1930’s Germany, this resulted in a backlash against the Jews, Hitler used the hatred for the Jews as a springboard to eventually slaughter some 6 million of them, both in and out of concentration camps. In Trinidad, the same attitude persists as Syrians only buy goods and trade with their fellow Syrians unless it is absolutely necessary to buy outside, they operate in the same ruthless and selfish way against all other Trinis. All the major business sectors are largely controlled by them including Insurance, new motor vehicle sales and the media to name a couple of sectors. Indeed there is absolutely no part of the media where you will see or hear anything negative about the Syrian Group, it is understood by all media employees that speaking negatively about the Syrians is taboo. If this ever happens you can expect the firing of key managers at the offending media house. It is commonly known that unwritten rules exists in order for media companies to get advertising dollars or, for that matter, even an interview with certain people in society. Indeed, in a Newsday newspaper article on 27th March 2010, George Hadeed is quoted as saying (in the groups’ defense) that the Mafia attitude towards Syrians was unwarranted. But even the mighty and so called “independent” CCN Group bows to the pressures of this powerful group especially so since this sucking up is how they achieved Mega-Rich status themselves. As one person puts it, interlocking directorship in one offence but this is like interlocking ownership and a conspiracy against the State and poor Trinis. In short there is really no freedom of the press/media in T&T.
The Syrians stranglehold comes when the last census in 2011 puts the Syrian population at a mere 1,062 or 0.1 % (1/10 of 1 percent) of the local population. Interlocking directorships is one thing but this incestuous behaviour practised by this group makes interlocking directorships look pale in comparison. So, when Mario Sabga-Aboud spoke on CNN about the Syrian control of the T&T economy he was way off the mark.
Many of the names called here will do what they see as their right to protect their turf and vast wealth and what they see as their inalienable rights over their overlord status in T&T. While we admit all the people listed here may not be representative of the behaviour of people like Mario Sabga-Aboud. But we expect any number of actions from attempts to shut down the site ranging from malicious viruses, police harassment, business dictates not to deal with our friends and even criminal action. We vow to keep you informed and not to be cowed by any of the 1 percenters who may be aggrieved by their name appearing here.
We do ask that readers send in contributions (non -financial) so that will allow the site to be continually updated and expanded. If you wish to contribute, please send a list of known assets of anyone you wish to include or exclude.
THE MEGA RICH – Each person / company is this group is estimated to own over 1 (one) billion dollars and is presented in alphabetical order. The Syrian entries are listed in red.
1. AA Laquis (Medical)
2. ABC Baths
3. Aboud Goup (Amalgamated, Zantec, GMRTT Ambulance)
4. Aboud Group (Jimmy Aboud, Pharmaco, Model Alive)
5. Aboud, George (Malls)
6. Abraham Family
7. Ahamad Imtiaz / Southern Sales
8. American Stores(S. Hosein)
9. Anthony Sabga (Ansa McAl)
10. Arthur Lok Jack / Charles Chocolates
11. Abu Bark, Yasin, former coup maker
12. Azar, Joe (Vast Real Estate Holdings)
13. Beaver Construction
14. Bermudez (Kiss Bakery)
15. Bhagwansingh Group / Centrin
16. Boodoosingh, Martin (Rent-a-Amp, Unltd Power Group)
17. Coosals, Sieunarine (Construction)
18. Derek Chin Group (Movie Town, Telecom, Restaurants etc)
19. Detour Stores
20. Dominic Hadeed (Blue Waters)
21. Elias Emile (NH International)
22. Fernandez, Joseph
23. Ferreira Ignatius (Furness Group)
24. Gabriel Family
25. Galy, Alfred GreyFriars & Real Estate Holdings)
26. George Peter (Lindas, Trotters, Buzo)
27. Gordon Ken (Media Holdings)
28. Habib Clan
29. Hadeed Family
30. Joe Azar / Prestige & substantial real estate assets
31. John Rahael (SuperPharm, Real Estate)
32. Junior Sammy (Construction)
33. Kalco Construction / Kalloo
34. Karamath (Construction)
35. Laquis Group
36. Lawrence Duprey (Clico Holdings, HCL and vast private assets)
37. Linda’s Bakery
38. Marios’ Pizza
39. Matouk Jeremy (Foods)
40. Monteil, Andre (Stone Street)
41. Mouttet, Christian (Prestige)
42. Nicholas Towers (Hotels and Real estate Holdings)
43. Nutramix Feeds (Shaheed Mohammed)
44. O’ Halloran, Johnny (Estate) Canadian assets
45. Peake’s Group
46. Pires (B.C.) Caribbean Chemicals
47. Rooks Oilfield
48. S.M. Jaleel (Aleem Mohammed)
49. Sabga-Aboud, Mario (Pizza, Rituals, Wok-n-Roll)
50. Spancrete Construction (Williams)
51. Supermix Feeds
52. West Shore Medical
53. WH Scott (Hardware)
MEGA RICH - SPECIAL LIST:
The members of this list who are also estimated to be worth over 1 billion dollars but are currently either being investigated or before the Courts. This special group consists of members who are or were high ranking members of the 2 main political parties (PNM and UNC) but most notably, they are all close friends and buddies of each other. The question bugging nationals is how many more people must practise rank dishonesty before the laws are changes. This separate list shows the simple political connection involving both PNM & UNC.
1. Castagne Steve (Insurance and Real Estate) – Currently before the Courts in a massive private lawsuit (PNM Financier)
2. Chin Lee’s (Howard and Jerry) – Currently before the Courts in a massive private lawsuit (PNM Financier)
3. Fergurson Steve/ Piarco Airport Project - Currently before the Courts on Corruption charges (Former PNM turned UNC Financier)
4. Galbarsingh / Singh’s Rentals - Currently before the Courts on Corruption charges (Former PNM turned UNC Financier)
5. Brian Kuei Tung, Currently before the Courts (Former PNM turn UNC Financier)
6. Super Industrial Services / Krishna Lalla (UNC Financier)
TRINIDADIANS WHO IT HAS BEEN SUGGESTED OWN IN EXCESS OF 100 MILLION DOLLARS BUT LESS THAN 1 BILLION DOLLARS.
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Agostini Anthony
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Alcazar Family
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Aleong (Foods)
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Amar, Robert
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Ambassador Hotel
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Archer Lennox (Clico Group)
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Bahadoorsingh Krishna, Dr (Real Estate Holdings)
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Battoo Group (Motors etc)
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Bees Supermarkets (West Bees)
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Berger Paints
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Bick’s (Auto Parts)
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Carter (Car Rentals etc)
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Charles Vernon (Solo)
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Clarke Peter / Estate of Ellis Clarke
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Daly, Martin (Legal)
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Damus Group (Construction)
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Diana Candy (Castagne)
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Fakoory Family
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Faris Al-Rawi / Seukeran
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Fen Mohammed (Furniture)
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Fernandes (Joseph)
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Ferreira (Optical)
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Fitzwilliam, Stone, Furness Smith & Morgan (Legal)
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FT Farfan
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Gillette (Peter & Lindsay) Chinese family
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Hamel-Smith (Legal)
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Harinarine Harry (HCU fame)
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Holiday Foods
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Huggins, George F
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Imbert Colm
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Janouras (Clothing)
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JD Sellier (Attorneys)
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Kapok Hotel
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Laing Group
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Laughlin & De Gannes
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Lazzari (PAS Cargo)
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Lee Lum
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LJ Williams
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Low Price Supermarket
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Mack Carlton (Allums Supermarkets)
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Maharaj Sat (Estate of Badase Maharaj)
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Maraj Jewellers
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Media Sales Group
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Modern Electrical
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Montano Family
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Mootilal Moonan (Construction)
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Moses (Wholesale equipment)
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Munroe William
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Mustapha Engineering Group (Car Parts)
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Naipaul (Xtra Foods)
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Narinesingh Vijay, Dr
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Normandie Hotel (F. Chin Lee)
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Oscar Francois (Medical)
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Pillai’s Group
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Pollonais Blanc, De laBastide & Jacelon (Legal)
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Print-a-Pak (Montrichard)
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Rahamut (Ramco)
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Ramourtarsingh Jack (Formerly Dansteel)
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Roopnarine Group (Hardware Etc)
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Roto Plastics / Water Source (David Ross)
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Seereeram Bros (Construction)
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Sooknarine (Harricrete)
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Stollmeyer, J
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Trinrico Steel
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Wallace John (Ma Pau, Sunny Group)
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Williams, Michael (Century Eslon)
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York Structures
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Young Sing (Building)
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Z. Mustaha (Carpet World Group
List of official Forex Users as per Central Bank, released by former
Central Bank Governor,Jewala Ramberan.
Pricesmart - US$507 million (Distribution and Retail)
Courts - US$198 million
Smith Robertson & Co. - US$169 million
AS Bryden - US$153 million
Massy Distribution - US$136 million
Nestle - US $194 million (Manufacturing)
WITCO - US$129 million
Carib Brewery - US$107 million
National Flour Mills – US$102 million
Caribbean Bottlers (Coca Cola) – US$94million
Southern Sales – US275 million (Car Dealerships)
Massy Motors – US$251 million
Toyota – US$245 million
Diamond Motors – US$59 million
Lifestyle Motors – US$36 million
TSTT – US$294 million (Telecommunications)
Digicel – US$263 million
Columbus Communications / Flow – US$250 million
The two main local Groups under Forex use are (1) Ansa Mcal and (2) Massy.
ANSA MCAL and subsidiaries
Classic Motors (McAl)
CarMax Limited
Diamond Motors
McEnearney Motors
Oxford MotorsEst. 2011
Richmond MotorsEst. 2011
Trafalgar MotorsEst. 2011
BURMAC
Carib Brewery
Carib Glass
Stag Brewery
Alstons Marketing Company (AMCO)
ANSA McAL Trading Limited
Bryden Stokes Limited
Twee Limited
ANSA Merchant Bank
Trinidad and Tobago Insurance Limited
Consolidated Finance Company Limited
Brydens Insurance Inc
Abel Building Solutions
ANSA Chemicals
ANSA Coatings Limited
ANSA Polymer Limited
Caribbean Roof Tile Company Limited
Trinidad Match Limited
Alstons Shipping Limited
Alstons Travel Limited
ANSA McAL (US) Inc
ANSA Technologies Limited
Brydens Retail Inc
Brydens Xpress Inc (Office Supplies)
McEnearney Business Machines,
Real Estate (Bayside West Limited, Grand Bazaar Limited, Maple Development Limited, O’Meara Holdings Limited, Promenade Development Limited, Robinson Crusoe Limited, Trinidad Lands Limited)
Standard Distributors
Trimart Supermarkets
Trinidad Publishing Company (Guardian)
Trinidad Broadcasting Company (6 Radio Stations)
Cable News Channel 3 (CNC3)
Massy and subsidiaries:
Massy Motors (Massy Group)
Massy Distribution
Massy Trading
Massy Wood Group
Massy Energy
Massy Gas Products
Massy Finance
Massy Machinery
Massy Pres-T-Con
United Insurance
Massy Stores (HiLo)
Massy Communications
Massy Technologies
Massy Realty
Massy Properties