For Angola’s Super Rich, It’s No Longer Cool to Drive a Ferrari
- Crackdown on graft has discouraged public displays of wealth
- Authorities have seized more than $20 billion worth of assets
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Toward the tail-end of Jose Eduardo dos Santos’s almost four-decade rule of Angola, Porsches, BMWs and even the occasional Ferrari meandered through the streets of downtown Luanda past legions of beggars.
Such public displays of affluence in one of the world’s most unequal nations are becoming less commonplace as the government intensifies a crackdown on graft, with many of the well-heeled trying to hide their wealth or pretending they were never really that rich after all.