Egyptian billionaire Hisham Talaat Moustafa’s TMG stake rebounds above $1 billion

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Key Points:

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• Hisham Talaat Moustafa’s stake in TMG Holding rebounds above $1 billion after a recent stock surge.
• The Egyptian real estate developer’s share price jumps over 10% in just 11 days, boosting market cap above $2.3 billion.
• TMG’s strong performance delivers significant gains, with year-to-date returns exceeding 48% for investors despite currency fluctuations.

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Egyptian billionaire Hisham Talaat Moustafa, chairman of Talaat Moustafa Group Holding (TMG), has witnessed a significant recovery in his stake in TMG Holding, surpassing the $1 billion mark following a recent rebound on the Egyptian Exchange (EGX).

According to data tracked by Billionaires.Africa, Moustafa’s stake in TMG Holding has increased by EGP4.5 billion ($94.27 million) over the past 11 days, reaching EGP48.85 billion ($1.02 billion). This turnaround comes after a period of decline between late May and early June, when his stake slumped by EGP5.33 billion ($113.1 million).

TMG Holding’s stock surge propels market cap

TMG Holding, a leading force in Egypt’s real estate sector with a rich heritage dating back to 1974, has emerged as one of the country’s largest real estate development companies. This growth is credited to visionary leadership.

TMG Holding’s stock has witnessed a remarkable surge of 10.14 percent in the past eleven days alone. The price climbed from EGP49.8 ($1.044) to EGP54.85 ($1.15), propelling the company’s market capitalization above $2.3 billion. This uptick has delivered significant gains to shareholders amidst a broader recovery in Egypt’s financial markets.

Double-digit gains drive Moustafa’s wealth

Hisham Moustafa, who ranks as one of Egypt’s richest individuals and sits among the wealthiest investors on the Egyptian Exchange, holds a 43.16 percent stake in TMG. His stake in the leading group of 890,633,483 shares is now worth over a billion dollar thanks to the recent surge in share price 

Driven by a recent double-digit share price rise, the value of Moustafa’s stake has jumped by EGP4.50 billion ($94.27 million) since June 9, rising from EGP44.35 billion ($929.62 million) to EGP48.85 billion ($1.02 billion).

Your Money and Your Life

The recent uptick in TMG Holding’s fortunes underscores its robust performance compared to its peers in the Egyptian market. The company boasts year-to-date returns in local currency, surging by an impressive 128.64%.

Even factoring in the depreciation of the Egyptian pound, investors have reaped a total return of 48.08 percent in 2024, translating to substantial profits. A $100,000 investment made at the beginning of 2024 would now be worth $148,080, representing a profit of $48,080.