Egyptian billionaire businessman Naguib Sawiris has experienced a remarkable surge in his net worth, surpassing the $6-billion mark fueled by the recent market value increase in his diversified investments across the telecom, mining, and construction sectors.
According to data from the Bloomberg Billionaires Index, Sawiris, who presently holds the title of Egypt’s second-richest individual, has seen his net worth rise by $1.01 billion since the beginning of this year.
The surge in Sawiris’ net worth has propelled him from $5.1 billion on Jan. 1 to an impressive $6.11 billion at the time of drafting this report, solidifying his position not only as Egypt’s second-richest businessman but also as one of Africa’s most affluent billionaires.
With his current net worth, Sawiris ranks as the 412th richest person globally, trailing behind Swiss art collector and billionaire Maja Hoffmann, who holds a significant stake in Roche Holding, the world’s fifth-largest drugmaker.
Earlier this year, Sawiris’ Cairo-based holding company, Orascom Investment Holding, established a strategic partnership agreement with BluEV, a specialized firm in information technology and transportation engineering.
The collaboration aims to revolutionize the global transport sector, making it more eco-friendly and affordable, utilizing the BluEV network, smart battery exchange stations, and an integrated digital platform.
Orascom Investment Holding, founded by Sawiris in 2011 to primarily focus on the telecom, media, and technology spheres, has since expanded its portfolio to include sectors with potential for substantial growth, transformation, and community impact.
The partnership between Orascom Investment Holding and BluEV is expected to have a profound impact on the global light transport industry, driving green transformation and sustainable development.