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Egyptian billionaire Mohamed Mansour has become the latest addition to the cohort of African billionaires who have witnessed a surge in their net worth, surpassing the $1 billion benchmark since the beginning of this year.
According to Forbes, the renowned U.S. business magazine that tracks the fortunes of the world’s ultra-high net worth individuals, Mansour’s net worth has skyrocketed by a staggering $1.1 billion since the start of 2023, soaring from $2.5 billion on Jan. 1 to a whopping $3.6 billion at the time of writing this report.
Attributed to the robust performance of his diversified portfolio of assets and investments, the impressive surge of $1.1 billion has not only catapulted Mansour to the echelon of Egypt’s wealthiest billionaires, but also solidified his status as one of the most affluent magnates in African continent and in the Arab world.
It is worth noting that, like his brothers Yasseen and Youssef Mansour, the lion’s share of Mansour’s staggering $3.6-billion fortune emanates from his stake in Mansour Group, a well-established family-run conglomerate that was established by his father Loutfy Mansour back in 1952. This business powerhouse, which Forbes values at a whopping $6 billion, has been a pivotal cornerstone of the Mansour family’s wealth for decades.
For decades, the Mansour family has been intrinsically linked with an impressive array of globally renowned brands, for which they have acted as reputable agents.
Among the notable brands are Chevrolet, Marlboro, and General Motors — with the Mansour Group pioneering the establishment of GM dealerships in Egypt way back in 1975—as well as Caterpillar, for which the family holds exclusive distribution rights in not only Egypt but seven other African nations.
It is worth noting that the Mansour family’s prodigious business acumen is not limited to their interests in the Mansour Group and Al Mansour Automotive Group.
They also hold substantial interests in Metro, Egypt’s largest supermarket chain, and own several McDonald’s franchises in the country.
