Ezz, who founded Ezz Steel in 1994, owns 60.7 percent of the company.
According to World Steel, Ezz Steel ranks first in Africa and the Arab world, with a total output of 5.14 million tonnes.
Ezz owns a majority 60.7-percent stake in Ezz Steel.
Ezz is one of the wealthiest men in Egypt.
The multimillion-dollar decline in his stake may be attributed to a sell-off of the company's shares.
The steelmaker’s share price has surged due to investor cherry-picking activities on the Egyptian Stock Exchange.
The leading steel manufacturer saw its profit grow from a loss of $176.43 million in H1 2020.
The acquisition raised his ownership interest in the company to 65.7 percent from 32.29 percent.
Ezz Steel is the largest steel company in Egypt, the Middle East and North Africa.