In 1995 Mobil, an American oil company, discovered oil in Equatorial Guinea. The country subsequently experienced rapid economic development, but earnings from the country's oil wealth have not reached the population and the country ranks low on the UN human development index. Around 1 in 12 children die before the age of 5 and more than 50% of the population lacks access to clean drinking water. President Teodoro Obiang is widely suspected of using the country's oil wealth to enrich himself and his associates. In 2006, Forbes estimated his personal wealth at $600 million.