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Egyptian billionaire and Aston Villa co-owner Nassef Sawiris has experienced a remarkable financial surge, seeing his personal wealth increase by £810 million over the past 12 months.
His wealth increase puts him among the select African billionaires whose wealth has swelled by over a billion dollars this year.
The $2.05-billion deal includes U.S. and European assets and a stake in Natgasoline LLC.
Egyptian billionaire Nassef Sawiris' net worth nears $10 billion, up $1.26 billion this year, thanks to strong performance in OCI and Adidas stocks.
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.
The unexpected surge catapults Sawiris nine spots on the Bloomberg Billionaires Index, from 300th to 291st.
The leading Egyptian billionaire has seen his ranking on the Bloomberg Billionaires Index slip following a decline in the market value of his holdings.
The recent surge in the share price of Adidas has bolstered Sawiris’ wealth significantly, with his stake now valued at $2.71 billion.
This is attributed to lower global nitrogen pricing and a reduction in natural gas prices in Europe and the United States following the exceptional highs of 2022.
Throughout 2023, Orascom Construction expanded its footprint by securing quality, internationally funded projects in Egypt and diversifying its presence in the UAE.
Egypt’s richest man Nassef Sawiris has experienced a remarkable upswing in his fortunes, with his net worth skyrocketing by $230 million in…
Sawiris hails U.S. investor Jeff Ubben’s influence as OCI embraces strategic overhaul.
This downturn — which translates to an average daily loss of $8.16 million since the start of the year — is linked to the slump in the market value of his industrial assets in Europe and Africa.