Egyptian billionaire Hisham Talaat Moustafa’s TMG stake falls below $1.1 billion

Timilehin Adejumobi -

Key Points:

  • Hisham Talaat Moustafa’s stake in TMG Holding falls due to recent selling pressure.
  • The Egyptian real estate group’s stock price weakens, pushing market cap down to $2.36 billion.
  • Year-to-date, TMG remains a strong performer, delivering a 46.4% return on investment.

Egyptian billionaire businessman Hisham Talaat Moustafa, chairman of Talaat Moustafa Group (TMG) Holding, has seen the market value of his stake in the real estate group retreat from recent highs. The decline comes after a surge in May that pushed his holdings above the $1.1 billion mark on the Egyptian Exchange (EGX).

According to data tracked by Billionaires.Africa, Moustafa’s stake in TMG has dropped by EGP5.33 billion ($113.1 million) over the past 8 days due to sustained selling pressure. This follows a $59.19 million gain between May 15 and 23, when the market value of his shares climbed from EGP51.4 billion ($1.1 billion) to EGP54.1 billion ($1.16 billion).

TMG Holding, a leader in Egypt’s real estate sector since its founding in 1974, has grown into one of the country’s largest groups under Hisham Talaat Moustafa’s leadership. Over the past eight days, its shares on the EGX have slumped nearly 10 percent, dropping from EGP59.89 ($1.27) on May 26 to EGP53.91 ($1.14). This decline has reduced the company’s market capitalization to $2.36 billion.

Moustafa loses $113 million as TMG shares decline

Hisham Talaat Moustafa is one of the wealthiest investors on the EGX and a prominent figure among North Africa’s richest individuals on account of his 43.16 percent stake in TMG, and his track record of success in the region’s real estate sector.

As a result of the recent decline in TMG shares, the market value of Moustafa’s stake has fallen by EGP5.33 billion ($113.1 million) over the past 8 days from EGP53.34 billion ($1.13 billion) on May 26 to EGP48.01 billion ($1.02 billion) at the time of writing.

Your Money and Your Life: TMG outperforms YTD despite volatility

While TMG’s stock price has experienced volatility in recent times, the company remains a standout performer year-to-date.

Factoring in the recent decline and the Egyptian pound devaluation, TMG Holding has delivered a total return of 46.4 percent to investors year-to-date. A $100,000 investment at the beginning of 2024 would now be worth $146,460, representing a profit of $46,460.