Ezz Steel shares rebound, boosting Ahmed Ezz’s stake to $755 million
This wealth rebound follows a recent rally in Ezz Steel’s stock price on the Egyptian Exchange (EGX), reversing earlier losses.
This wealth rebound follows a recent rally in Ezz Steel’s stock price on the Egyptian Exchange (EGX), reversing earlier losses.
This loss reduces his total holdings to below $700 million. He remains the second-richest investor on the Egyptian Exchange and one of Egypt's wealthiest individuals.
In just two weeks, the Egyptian steel magnate has seen his stake in the steel giant appreciate by more than $100 million amid soaring investor confidence.
This marks a substantial recovery from the loss the company recorded during the same period in 2023.
This surge follows a previous increase of EGP5.28 billion ($113.13 million) between May 12 and 21.
According to data tracked by Billionaires.Africa, Ezz’s stake in Ezz Steel has climbed EGP5.28 billion ($113.13 million) over the past nine days.
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel, or 329,816,198 shares.
Despite the drop in his stake’s value, Ezz remains a prominent figure in Egyptian business and a leading investor on the Egyptian Exchange.
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel (or 329,816,198 shares).
Despite this significant downturn, Ezz remains a top figure in Egypt’s business landscape.
Ezz, an influential figure in the Egyptian industrial landscape, currently owns 60.7 percent of Ezz Steel, equivalent to 329,816,198 shares.