Egypt’s second-richest man Naguib Sawiris’ net worth falls below $5.5 billion
Naguib Sawiris has seen his wealth figures slump by $350 million over the past 49 days, translating to an average loss of $7.14 million per day since Sept. 13.
Naguib Sawiris has seen his wealth figures slump by $350 million over the past 49 days, translating to an average loss of $7.14 million per day since Sept. 13.
Ezz, a leading Egyptian industrialist, owns a 60.7-percent stake in Ezz Steel, or 329,816,198 shares.
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.
Ahmed El-Sewedy and his siblings, Sadek and Mohammed, jointly own a majority stake of 68.1 percent in Elsewedy Electric.
Berzi owns a significant 41.95-percent stake in the leading packaged food manufacturer through Quantum Invest BV.
Mzabi owns 24.8 percent of the company, which translates into 9,370,387 ordinary shares.
Under the leadership of Mansour, Palm Hills has become one of Egypt’s leading real estate companies.
Mansour, the founder of chairman of Man Capital LLP, has a $3.6-billion fortune according to Forbes.
Khalil’s stake in Raya Holding is now worth $88 million.
Tazi owns a substantial 8.4-percent stake in Sothema, translating to 605,030 shares in the leading healthcare company.
Sawiris’ net worth currently stands at $7.42 billion, down from $7.52 billion on Oct. 12.
Ezz, a prominent Egyptian industrialist, holds a 60.7-percent stake in Ezz Steel, equivalent to 329,816,198 shares in the steel behemoth.
The impressive growth of Douiri’s stake in Mutandis SCA underscores investors’ confidence in the Moroccan consumer goods company.
The $50-million loan from EBRD will further enhance Elsewedy Electric’s ability to meet the growing demand for cables and electrical equipment in the region.
Despite the recent decline in his stake in ADI, Lazraq remains one of the Casablanca bourse’s richest investors and one of Morocco’s wealthiest businessmen.
Sefrioui, one of Morocco’s wealthiest businessmen, owns a 64.1 percent stake in the Moroccan property developer.