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This follows a $59.19 million gain between May 15 and 23, when the market value of his shares climbed from EGP51.4 billion ($1.1 billion) to EGP54.1 billion ($1.16 billion).
Executive Chairman Yasseen Mansour attributed the impressive results to strong sales across various regions.
This surge has pushed the group’s market cap above $255 million, delivering substantial gains to shareholders, including the wealthy Ghabbour family.
While Berzi’s stake in Edita Food has climbed recently, investors should be cautious. Year-to-date, the share price is down 3.88 percent.
Year-to-date, Sawiris’ wealth has increased by $667 million, driven by the performance of his stakes in Dutch fertilizer giant OCI N.V. and German sportswear giant Adidas.
This significant upswing not only solidifies Moustafa’s status as one of the most influential investors on the EGX, but also elevates him to the ranks of Africa’s billionaires.
Under Yasseen Mansour’s leadership, Palm Hills reported a $51.1 million profit at the end of its 2023 fiscal year, reflecting a robust 25.9 percent year-over-year increase.
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.
The double-digit growth in Q1 2024 is attributed to accelerated construction activity across its various destinations and improved performance across all its operating segments.
The development project builds on TMG’s successful track record in Africa and the Middle East.
The Ghabbour family maintains control of GB Corp, with family members holding executive positions on the group’s board.
The family’s joint stake in Elsewedy Electric has risen from EGP45.9 billion ($968.4 billion) on April 30 to EGP51.49 billion ($1.09 billion).
Despite the recent decline in the market value of his holding in Palm Hills, Mansour remains one of Egypt’s wealthiest men.
This initiative aligns with the Egyptian government’s food security strategy of localizing grain silo manufacturing.
Sawiris’ net worth currently stands at $6.53 billion, ranking him 422nd globally. This reflects a recent decline from a peak of $6.73 billion reached on April 9, 2024.
The Ghabbour family, Egyptian billionaires, have experienced a notable decrease in their wealth as the market value of their holding in GB…