Egypt is home to some of the wealthiest individuals in the world. Starting with Nassef Sawiris, who is a construction magnate to Naguib Sawiris who is a tech entrepreneur, revolutionising the financial sector. These elite individuals represent the epitome of business success in Egypt.
These billionaires are holding forth and increasing their personal fortunes despite the recent depreciation of the Egyptian dollar and the difficulties plaguing the nation’s economy.
Their hard work, determination, and innovative ideas have made them role models for aspiring entrepreneurs. So, without further ado, let’s dive into the profiles of Egypt’s top five billionaires.
Nassef Sawiris ($7.3 billion)
Nassef Sawiris who ranks as the fifth richest man in Africa, according to Forbes is the first richest person in Egypt. Sawiris, who has a net worth of $7.3 billion, holds a 28.97 per cent stake in Orascom Construction, a multinational engineering and construction firm founded by his late father Onsi Sawiris. He is the youngest of Onsi Sawiris’ three sons (his brothers are Naguib and Samih).
Sawiris’s wealth is closely associated with his 6 per cent investment in Adidas and a 38 .8 per cent stake in OCI N.V. (a renowned nitrogen fertilizer producer with facilities in Texas and Iowa). He also has stakes in cement giant Lafarge Holcim.
The Egyptian billionaire also teamed up with Fortress Investment Group’s Wes Edens to buy the Premier League’s Aston Villa Football Club.
Naguib Sawiris ($3.3 billion)
Naguib Sawiris is the eldest brother to Egypt’s richest man, Nassef Sawiris. He generated a large portion of his wealth when he sold Orascom Telecom to Russian telecom firm VimpelCom (now Veon) in 2011. With a net worth of $3.3 billion, Naguib sits as the chairman of Orascom TMT Investments. He also has an investment in Ora Developers, a real estate operator.
The Egypt telecom entrepreneur also owns 88% of the pan-European pay TV and video news network Euronews, through his Media Globe Holdings. He also developed a luxury resort called Silversands on the Caribbean island of Grenada. Known as the second richest man in Egypt, Naguib is looking for new opportunities to solidify his position. Reports say he plans to infiltrate the Pakistani market through his subsidiary investment firm, Eighteen Elite Real Estate.
Mohamed Mansour ($2.9 billion)
Egypt’s third-richest person, Mohammed Mansour supervises his family conglomerate, the Mansour Group. Established by his father in 1976, Mohammed has driven the conglomerate to the top. His father also founded General Motors dealerships in Egypt in 1975, which is now the largest GM dealer in the world. He has a net worth of $2.9 billion and holds both Egyptian and U.K citizenship. His brothers Yasseen and Youssef are billionaires, who share ownership in the family group.
Mohamed Al Fayed ($2 billion)
With a net worth of $2 billion, Mohamed Al Fayed’s fortune can be traced to the sale of his shares in the iconic London department store Harrods to Qatar. The sale earned him $2.4 billion in 2010.
Also, Forbes report that Al Fayed got $300 million when he sold Fulham Football Club to U.S. auto parts billionaire, Shahid Khan in 2013. He was excluded from the Forbes 2023 List of Africa’s billionaires because he resides and operates his business in London.
Youssef Mansour ($1.6 billion)
Youssef Mansour is an elder brother to Egypt’s third-richest person, Mohammed Mansour. Youssef is the chairman of the family-owned Mansour Group and oversees the consumer goods division of the conglomerate. These include Supermarket chain Metro and sole distribution rights for L’Oreal in Egypt.
With a net worth of $1.6 billion, Youssef ranks as the thirteenth richest person in Africa, alongside Mohammed Dewji of Tanzania, Aziz Akhannouch and his family from Morocco.
Abdul Samad Rabiu’s journey to becoming one of Africa’s wealthiest magnates is…