According to new information released on Friday, Somali pirates have made over $400 million in ransom over the last eight years. Most of their profits don't even come from the ships they overtake, but rather capturing individuals and collecting ransom. The lowest level pirates who do most of the dirty work take home about $30,000-$75,000 per vessel, while their "money kingpins" take home anywhere between 50-75% of the money.
This issue of piracy is really causing major problems in that part of the world, and it's shocking to hear how profitable it has been for them. I really have no idea what they could possibly do to stop it, but something has got to be done. It's alarming that they can make half a million dollars a year just from ransoms!
cnn.com
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