Egyptian billionaire Naguib Sawiris, renowned as one of Africa’s wealthiest individuals, has seen his wealth figures surge closer to the $6.5-billion mark, fueled by the increase in the market value of his diversified investments across the telecom, mining, and construction sectors.
According to the Bloomberg Billionaires Index, which tracks the fortune of the world’s wealthiest billionaires, Sawiris, who presently holds the title of Egypt’s second-richest individual, has seen his net worth rise by $360 million over the past fifteen days — translating to an average daily gain of $18 million since Dec. 7.
The surge in Sawiris’ net worth has propelled him from $5.1 billion on Jan. 1 to $6.43 billion, adding $1.33 billion to his fortune since the start of the year. This solidifies his position not only as Egypt’s second-richest businessman but also as one of Africa’s most affluent billionaires who have recorded impressive wealth gains of more than $1 billion since the start of the year.
Sawiris’ net worth soars to $6.43 billion on the back of strategic investments
The $360-million surge in Sawiris’ net worth — from $6.07 billion on Dec. 7 to $6.43 billion as of report writing — is linked to the sustained increase in the market value of his investments in real estate, telecom, mining, and a stake in Endeavor Mining Plc.
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.
This collaborative effort seeks to revolutionize the global transport sector by leveraging BluEV’s network, smart battery exchange stations, and a unified digital platform to promote both environmental sustainability and affordability.
Egyptian billionaire’s $6.43-billion fortune anchored in liquid assets
The Egyptian billionaire, who has a $6.43-billion fortune, primarily maintains it in cash and privately held assets. This is achieved primarily through the sale of his shares in the Russian telecom company Vimpelcom for approximately $4.1 billion during the period spanning 2011 to 2012.
With year-to-date wealth gains of $1.33 billion, the Egyptian magnate continues to stand as one of the wealthiest figures, not only within Egypt but also throughout the Middle East and North Africa region.
He trails his younger brother, Nassef Sawiris, whose $8.32-billion fortune stems from principal sources of wealth, including holdings in OCI N.V., a prominent global nitrogen product manufacturer, and investments in the German sportswear powerhouse Adidas.