Aad Kalasho Net Worth
During the first Gulf War, Kalasho had a shady deal on the books with the Iraqi government. According to a recent report, the government recouped millions in kickbacks from Kalasho. While the deal may have been a shady one, Kalasho was not the only one in the business. A Detroit company, United International Communication Network, signed a contract with the Iraqi Ministry of Culture and Information. The deal, which is still in effect, includes the installation of satellite equipment and transmission of speeches from Hussein to satellites in Europe. However, there are no details about how many satellites are in use and how much they cost. Considering that the Iraqi military is estimated to spend hundreds of millions of dollars to keep the country’s satellites operating, it’s no wonder that the government was interested.
Kalasho aficionados, however, will tell you that the deal did not end there. The name of the satellite company that owned the TelStar Five satellite is actually Loral Space & Communications. Rather than handing out space on the satellite to a rival, Loral leased the satellite to Intelsat. The deal, which is reportedly worth millions of dollars, is among the most lucrative in recent memory. Although Kalasho says he is not responsible for the deal, his name appears on the documents. This is despite the fact that Kalasho was not in the country when it was signed. Interestingly, the name of the company is a coincidence.
Kalasho’s business ventures also include a charity that gives out turkeys for Thanksgiving. The charitable group, called the Arab Chaldean Community Outreach Services, also provides vocational skills to students. As a result of the charity’s success, it has earned a cult following. In the spirit of giving, Kalasho’s family has been known to donate toys for Christmas to needy families. Similarly, in recent years the group has donated to the Iraqi Relief Fund and a number of other charities. Its website also touts some other interesting and notable philanthropic feats.
Kalasho and his wife have donated at least a few million dollars to charity over the years. This is a lot of money for a family of four who has never worked a day in their lives. Aside from the aforementioned contributions, the family also has been known to sponsor a number of cultural events. Several religious leaders, including Rabbi Daniel Rosenblatt, have praised the efforts of the Kalashos. They have also been active political participants, especially in the wake of the 2003 Iraq invasion.
