
Egypt’s richest man Nassef Sawiris loses $180 million in 3 days
As a result of the recent $180-million slump in his fortune, Sawiris is currently the 308th wealthiest individual globally.
As a result of the recent $180-million slump in his fortune, Sawiris is currently the 308th wealthiest individual globally.
This solidifies his standing as one of Africa’s wealthiest individuals. His year-to-date gains now total $576 million.
Sawiris now commands a staggering fortune of $7.32 billion, propelling him to the 315th spot on the esteemed list of the world’s 500 wealthiest billionaires.
As a result of this recent $470 million decline, Sawiris, who ranks as the richest man in Egypt and the Arab world, is presently the 322nd wealthiest individual globally.
Sawiris’ net worth currently stands at $7.42 billion, down from $7.52 billion on Oct. 12.
In addition to his investments in OCI N.V., Sawiris holds a six-percent stake in the renowned sportswear giant, Adidas AG.
Sawiris’ net worth has surged by $150 million in just four days, translating to an average gain of $37.5 million per day since Sept. 26.
Despite the recent $103 million decline in his fortune, Sawiris’ present fortune of $7.51 billion makes him the 303rd richest individual globally.
Sawiris derives his wealth from his holdings in Adidas, the renowned sportswear giant, and OCI N.V., a Netherlands-based fertilizer producer.
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.