Hisham Talaat Moustafa’s TMG stake increases by $321 million, surpasses $1 billion

Feyisayo Ajayi -
Key Points
  • Hisham Talaat Moustafa's wealth rose by $320 million in 2024, driven by Talaat Moustafa Group's strong stock performance.
  • TMG shares, after accounting for currency fluctuations, have risen 45.85% in 2024, elevating the company’s market capitalization to $2.37 billion. 
  • A $100,000 investment in TMG shares in January is now worth $146,940, reflecting $46,940 in profits.

Egyptian billionaire Hisham Talaat Moustafa, chairman of Talaat Moustafa Group (TMG), has seen his wealth rise by over $320 million in 2024. This surge is tied to the robust share performance of the real estate giant, in which Moustafa holds a 43.16-percent stake.

Moustafa’s stake in TMG, amounting to 890,566,601 shares, has gained EGP 29.46 billion ($321.54 million) in market value since the beginning of the year. This strong growth underscores heightened investor confidence in Egypt’s real estate firm, solidifying Moustafa’s position as a key player in the country's business landscape.

TMG rallies 135.96%, hits $2.37 billion market cap

TMG, founded by Hisham Talaat Moustafa in 1974, has grown into Egypt’s largest real estate holding company. With Moustafa’s visionary leadership, TMG has become a dominant force in the industry, solidifying its position as one of the most valuable stocks on the Egyptian Exchange (EGX). 

This year, TMG’s stock price surged by an impressive 135.96 percent, rising from EGP 24.33 ($0.487) on January 1 to EGP 57.41 ($1.149) on the EGX. Despite currency fluctuations reducing dollar-denominated gains to 45.85 percent, the company’s market capitalization surged past $2.3 billion, reinforcing its leadership position in the market.

The stellar performance has translated into substantial returns for investors, including TMG’s chairman, Hisham Talaat Moustafa, who is now ranked among Egypt’s wealthiest individuals. This growth reflects TMG’s ability to navigate Egypt’s economic challenges while creating significant value for its stakeholders.

Moustafa’s stake in TMG has seen a dramatic increase of EGP29.46 billion ($321.54 million) this year, fueled by the company’s triple-digit stock growth. Despite the impact of currency fluctuations, his stake has risen from EGP21.67 billion ($701.25 million) to EGP51.13 billion ($1.02 billion). This strong growth underscores Moustafa’s central role in TMG’s success and cements his position as one of Egypt’s most influential and affluent entrepreneurs.

Your Money and Your Life

TMG has been a top performer on the EGX in 2024, delivering a 135.96 percent return for local shareholders. However, the devaluation of the Egyptian pound significantly eroded those gains for foreign investors, resulting in a more modest 45.85 percent return in dollar terms. 

A $100,000 investment in TMG shares at the start of the year would now be worth $146,940, reflecting a profit of $46,940. This highlights the impact of currency fluctuations on returns for international investors, despite the strong performance of the company in local terms.