But in a world where the top 26% of the population hold as much wealth as the bottom 50%, How can one expect that there would have been equal distribution here? But it was raining money on the government. The government successfully convinced the governments of Australia, New Zealand, and Britain. To give them some monetary compensation for looting Nauru’s resources. So those countries paid Nauru.
The profits earned by phosphate mining went to the Nauru Phosphate Royalties Trust. With all this money, Nauru developed a shipping line. They established their airline, Air Nauru. International investments were made. They bought securities on Wall Street. They build a 52 stories high skyscraper in Melbourne and named it Nauru House. They built a $7 million office building with a revolving restaurant on top of it. On Marshall Island, they built a $3 million hotel, And spend $400,000 on building a floating cocktail lounge.
They built hotels and bought properties on several nearby islands. And some people living in Nauru bought luxury sports cars for themselves. As I’ve told you, this country is so small. That you can walk from one end to the other in 40-45 minutes. Did it make sense to buy luxury cars on this small island?
