Nassef Sawiris sees $930-million wealth gain, entering global top 350 richest

Omokolade Ajayi -
Key Points
  • Nassef Sawiris’ net worth surged by $930 million in the past week, reaching $8.59 billion, securing his place among Africa’s richest.
  • Sawiris' cash holdings have increased by nearly $1 billion, boosting his liquidity despite mixed performances in other investments like OCI Global.
  • Despite a drop in OCI Global value, his Adidas stake and diversified investments in sports and chemicals offset losses.

Nassef Sawiris, Egypt's richest individual, has experienced a rebound in his fortune, nearly recovering from a steep decline between the last week of September and the second week of October.

His net worth has increased by $930 million in the past week, rising from $7.66 billion on Nov. 14 to $8.59 billion, according to the Bloomberg Billionaires Index.

This spike solidifies his place among Africa’s richest individuals and secures him a spot among the world's top 350 wealthiest people—ranking 332nd.

At 63, Sawiris remains not only the richest person in Egypt but also the wealthiest in North Africa and one of the top billionaires in the Middle East and North Africa (MENA) region.

His wealth buoyed in recent times by the revaluation of his personal assets, notably his cash holdings, which have surged by nearly a billion dollars, from $2.9 billion to $3.85 billion—this boost in liquidity reinforces his position as one of Africa’s most financially liquid businessmen.

Sawiris’ cash holdings rise

While Sawiris’ cash holdings have grown sharply, his investment portfolio has displayed a mixed performance. Part of his wealth stems from his 38-percent stake in OCI Global, a leading Dutch producer and distributor of nitrogen and methanol products.

However, the value of this stake has taken a hit in recent months, slumping from nearly $2.5 billion at the start of 2024 to just $954 million as of today—this sharp decline is a major contributor to the earlier drop in Sawiris' fortune.

On the flip side, the Egyptian billionaire’s 7 percent stake in Adidas has performed well. This stake has risen from under $2.4 billion at the start of the year to $2.8 billion, helping to offset the OCI Global loss and contributing to a $179 million increase in his wealth year to date.

Sawiris' investments in sports, chemicals

In addition to his key holdings in OCI Global and Adidas, Sawiris’ broader investment portfolio includes a $163 million holding in Aston Villa, the English Premier League club, and $267 million in Madison Square Garden Sports Corp., which operates in sports and entertainment.

He also owns $310 million in Arkema S.A., a French chemicals company, and $242 million in Orascom Construction, an Egyptian engineering firm—these assets add $982 million to Sawiris’ fortune.

Despite some underperforming assets, Sawiris has weathered market fluctuations with resilience. His diversified investments in sectors such as construction, chemicals, sports, and entertainment reinforce his position as one of Africa's most influential business leaders.