U.S.-Nigerian telecom tycoon Sam Darwish’s IHS stake rebounds above $40 million

Timilehin Adejumobi -

Key Points

  • Darwish’s stake in IHS Holdings rises from $35.87 million to $40.48 million due to a 12.8% surge in share price.
  • Share price jumps from $2.57 to $2.90 following renewed Master Lease Agreements with MTN Nigeria.
  • Year-to-date loss narrows to 36.96% as IHS Holdings rebounds on the NYSE.

U.S.-Nigerian telecom tycoon Sam Darwish, co-founder of IHS Holdings, has witnessed a significant recovery in his wealth. His stake in the telecom infrastructure firm, which had earlier declined, has rebounded above $40 million following a notable uptick in share price.

According to data tracked by Billionaires.Africa, Darwish’s stake, which saw a sharp decline from $42.01 million to $35.87 million between July 16 and August 6, have surged by $4.61 million in just four days to $40.48 million, thanks to a sharp rebound in IHS shares.

IHS Holdings shares surge 12.8%, boosting market cap 

Founded by Darwish in 2001, IHS Holdings is a leading telecom infrastructure provider with a presence across Africa, Europe, Latin America, and the Middle East. It ranks as the third-largest independent multinational tower company globally by tower count.

The recent uptick in its share price follows the renewal and extension of IHS’s tower Master Lease Agreements with MTN Nigeria until December 2032. This agreement covers 13,500 tenancy contracts, solidifying the long-term partnership between the two companies.

The positive news drove IHS shares up 12.84 percent in just four days, rising from $2.57 on August 6 to $2.9. This rebound lifts the company’s market capitalization back towards the $1 billion mark and delivers significant returns to shareholders, including Darwish.

Sam Darwish gains $4.61 million as IHS Holdings shares rebound

Sam Darwish holds a substantial 4.17 percent stake in IHS Holdings.The recent uptick in share price has boosted the market value of Darwish’s stake by $4.61 million, increasing it from $35.87 million on August 6 to $40.48 million in just four days.

Your Money and your life

Despite the recent gains, IHS shares are still down 36.96 percent year-to-date, highlighting ongoing risks. A $100,000 investment in IHS at the start of the year would now be valued at $63,040, resulting in a loss of $36,960.