Egyptian billionaire Youssef Mansour loses $200 million in 28 days
Youssef Mansour, the Egyptian billionaire businessman who co-owns Mansour Group with his billionaire brothers, has now seen his fortune plunge significantly in the past twenty-eight days, driven by a sharp decline in the market value of his broad investments.
According to Forbes, the leading U.S. business magazine that tracks the fortunes of the world’s ultra-high-net-worth individuals (UHWIs), Mansour has seen his fortune plummet by $200 million since the start of the year from $1.5 billion to $1.3 billion at the time of drafting this report.
Mansour holds strong in wealth ranking despite $200-million portfolio fluctuation
Despite the plunge in his fortune, Mansour still ranks as one of Africa’s richest billionaires, trailing behind distinguished figures like Tanzania’s richest man Mohammed Dewji and Moroccan prime minister and leading businessman, Aziz Akhannouch, to claim the 2,182nd spot on Forbes’ global list of the wealthiest individuals.
The recent $200-million decline in his fortune, which translates to an average daily loss of $7.14 million, can be attributed to market fluctuations in his diversified portfolio of investments, which includes a minority stake in the Cairo-based real estate firm, Palm Hills Development.
Beyond his portfolio in Palm Hills Development, where he sits on the board, Mansour is also a director in Mansour Group. This well-established family-run conglomerate was established by his father Loutfy Mansour back in 1952.
Youssef Mansour’s dominance in Egypt and beyond
For years, the Mansour Group has played a pivotal role in shaping the wealth of the Mansour family. The group, a key factor behind his billion-dollar fortune, has played a key role in cementing Youssef Mansour’s position among Africa’s wealthiest individuals.
Mansour, the Egyptian billionaire heading the Mansour Group with his brothers, oversees the consumer goods division — this includes managing entities like the Metro supermarket chain and exclusive distribution rights for L’Oréal in Egypt.
Despite recent challenges, he remains a prominent figure among Egypt’s wealthiest billionaires and stands out as one of the most prosperous magnates in both the African continent and the Arab world.