Home » Egypt’s richest man Nassef Sawiris’ net worth tops $9 billion

Egypt’s richest man Nassef Sawiris’ net worth tops $9 billion

by Mfonobong Nsehe
Nassef Sawiris

Key Points:

  • Nassef Sawiris’ net worth climbs to $9.08 billion, fueled by a rise in his stake in fertilizer giant OCI N.V.
  •  Despite a dip in Adidas holdings, Sawiris’ stake in OCI surges, boosting his overall wealth.
  • Sawiris’ success highlights Egypt’s growing influence and sets an example for aspiring global investors.

Egyptian billionaire Nassef Sawiris has seen his net worth surge past the $9 billion mark, propelled by a recent uptick in his key holdings. This rise solidifies his position among Africa’s wealthiest individuals.

According to the Bloomberg Billionaires Index, which tracks the fortunes of the world’s top 500 richest people, Sawiris’ net worth currently sits at $9.08 billion, up from $8.68 billion on April 25.

Year-to-date, Sawiris’ wealth has increased by $667 million, primarily driven by the performance of his stakes in Dutch fertilizer giant OCI N.V. and German sportswear giant Adidas. He holds a significant 38.8 percent stake in OCI and a 6 percent stake in Adidas.

OCI stake lifts net worth despite Adidas dip

While his Adidas stake has experienced a slight decline of $26 million, from $2.42 billion on April 25 to $2.39 billion, the recent uptick in OCI N.V. has more than offset this, cementing his position among Africa’s wealthiest individuals.

OCI N.V., the world’s leading producer and distributor of green methanol, has seen a 4.4-percent share price increase, rising from €24.80 ($26.904) to €25.89 ($28.087).

The recent surge in OCI’s share price has significantly bolstered Nassef Sawiris’s net worth. His stake in the fertilizer giant is now valued at an estimated $3.01 billion, eclipsing his $2.39 billion holding in Adidas.

Sawiris solidifies top spot in Egypt and North Africa

Nassef Sawiris’s impressive rise cements his position as the richest person in Egypt and North Africa. It also propels him up the global wealth ladder, with his ranking on the Bloomberg Billionaires Index, jumping from 291st to 284th.

Sawiris’s success underscores his entrepreneurial prowess and strengthens Egypt’s growing influence on the global business scene. As he navigates the ever-changing economic landscape, his achievements set a benchmark for aspiring global entrepreneurs and investors.

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