Egyptian billionaire Naguib Sawiris’ Orascom Investment sells Brazilian subsidiaries for $17.8 million
Orascom Investment Holdings, which is controlled by Sawiris, will use the proceeds to develop tourist destinations.
Orascom Investment Holdings, which is controlled by Sawiris, will use the proceeds to develop tourist destinations.
The Khamis family, Egyptian multimillionaires, holds a majority stake of 56.58 percent in the company, which distributes its products in Oriental Weavers.
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.
Lazraq, a Moroccan real estate mogul who founded Alliances Group in 1994, owns 51.7 percent of the group’s publicly traded subsidiary, ADI.
Egyptian billionaire Yasseen Mansour retains a 7.29-percent ownership stake in Palm Hills Development.
With a 43.16-percent stake in TMG, Hisham Talaat Moustafa ranks among the richest investors on the Egyptian Exchange.
Raya Holding, formed in 1999 through a merger between entities owned by Khalil and Orascom Group, is a key player in the Egyptian investment landscape.
Mahmoud owns a noteworthy 10.13-percent stake in MM Group, presently valued at nearly $15 million.
Tazi, the CEO and chairperson of Sothema holds a substantial 8.4-percent stake in the leading healthcare company.
Despite the recent slump in the market value of his stake, Berzi remains one of the richest investors on the Egyptian Stock Exchange.
Akhannouch is the founder of the Aksal Group, a Moroccan conglomerate that owns shopping malls and franchises to luxury brands.
Ezz, a leading Egyptian industrialist, owns a 60.7-percent stake in Ezz Steel, equating to 329,816,198 shares in the steel behemoth.
Tamarziste owns a 12.9-percent stake in Union for Commerce and Industry (UBCI) through his business entity, Tamarziste Group.
Despite the recent $103 million decline in his fortune, Sawiris’ present fortune of $7.51 billion makes him the 303rd richest individual globally.
With this recent bump in the market value of his stake, Adouiri cements his position as one of the richest investors in the Casablanca bourse.
Al Mada, the holding company of Morocco’s royal family, is partnering with CNGR Advanced Material Co. to establish an industrial base in Morocco.