Egypt’s richest man Nassef Sawiris’ stake in Aston Villa slumps below $125 million
Despite the recent dip in his Aston Villa ownership, Sawiris has had a lucrative year, with wealth gains exceeding $640 million.
Despite the recent dip in his Aston Villa ownership, Sawiris has had a lucrative year, with wealth gains exceeding $640 million.
Founded in 1950 by the late Egyptian tycoon Onsi Sawiris, Orascom Construction is led by the Sawiris family.
Sawiris remains not only the richest man in Egypt but also the most affluent individual in the Arab world.
Sawiris, who is the richest man in Egypt, owns a 38.8-percent stake in Dutch fertilizer producer, OCI N.V.
The resurgence in Sawiris’ wealth can be primarily attributed to the impressive performance of his holdings in Adidas.
Egyptian billionaire Nassef Sawiris is considered one of Europe’s wealthiest football club owners.
As of the time of reporting, the market value of Sawiris’ holdings in Aston Villa has reached an impressive $147 million.
Despite the decline in his net worth, Sawiris remains a prominent figure among African business leaders.
Established in 1950 by the late Egyptian businessman Onsi Sawiris, Orascom Construction is majority-owned by the Sawiris family.
This divestment is part of Orascom’s strategy to extract value across its assets for allocation to growth and value-accretive areas.
Sawiris remains the richest man in Egypt and the Arab world.
The $600-million bump cements his position as one of Africa’s richest billionaires.
Orascom Construction is 51.8 percent owned by the Sawiris family.
The cash is interest-free and likely to be used to fund day-to-day operational activities.
Orascom Construction is majority-owned by the Sawiris family through their private investment vehicle OS Private Trust Company.
Sawiris’ stakes in Adidas and OCI have fallen in value below $1.9 billion and $2.6 billion.