Egyptian billionaire Nassef Sawiris, regarded as the wealthiest individual in Egypt, has witnessed a significant decline in his ownership stake in the English football club Aston Villa, despite earlier gains this year.
According to data from the Bloomberg Billionaires Index, which closely monitors the fortunes of the world’s richest individuals, Sawiris’ stake in Aston Villa has plummeted by $24 million since June 19, declining from $147 million to $123 million.
This downturn comes on the heels of a joint investment with Wes Edens, another stakeholder in Aston Villa, in which the two injected £20 million ($25 million) into the club through a new share issuance. These continued share issuances highlight the owners’ commitment to securing external funds while working on the club’s long-term revenue sustainability.
Despite the recent dip in his Aston Villa ownership, Sawiris has had a lucrative year, with wealth gains exceeding $640 million. This places him among the select few African billionaires who have experienced a substantial increase in their net worth since the start of the year.
As of the drafting of this report, Sawiris’ net worth stands at $7.67 billion, positioning him as the 301st wealthiest person globally. He trails behind Canadian billionaire Gaye Farncombe, who holds an 11-percent stake in Woodbridge, a closely held investment firm managing the fortunes of seven grandchildren of Canadian media magnate Roy Thomson.
Since assuming the role of chairman in July 2018, following their acquisition of a controlling stake in Aston Villa, Sawiris, alongside U.S. billionaire Wes Edens, has demonstrated an unwavering commitment to the club’s success.
Their joint ownership of the club showcased its potential during the 2021–2022 season, when Aston Villa recorded a profit of £400,000 ($513,000). This milestone marked the club’s first profit since its acquisition by Edens and Sawiris in 2018 and the first profit achieved by any owner since 2002.
The fluctuations in Sawiris’ ownership stake in Aston Villa reflect the dynamic nature of sports club investments, with investors seeking both financial returns and the success of the teams they support. Sawiris and Edens’ dedication to Aston Villa’s long-term prosperity remains steadfast, as they continue to navigate the challenges of modern football club ownership.