The accusations come nearly nine years after he signed a lucrative multiyear deal with Adidas to design the Yeezy brand.
West owns the entire Yeezy brand, which is valued at $2.9 billion.
His fortune is derived from a 38.8-percent stake in Netherlands-based OCI N.V. and a six-percent stake in German sportswear behemoth Adidas.
Sawiris' stakes in Adidas and OCI N.V. are now worth $2.11 billion and $2.26 billion, respectively.
Sawiris' net worth reached $7.45 billion at the end of the month.
The loss is directly linked to the performance of the German sportswear behemoth Adidas.
With a total net worth of over $6.6 billion, Sawiris remains the richest man in Egypt and the 389th richest man in the world.
Sawiris' net worth is still assessed at $5.93 billion.
Sawiris had a net worth of $6.5 billion at the start of February.
The decline can be linked to a slump in Adidas' shares, as investors sell off their positions in the company.
