El-Sewedy brothers lose $175 million after becoming Egypt's newest billionaires
Ahmed El-Sewedy, CEO of Elsewedy Electric, and his brother Sadek, the company’s non-executive chairman, hold a majority 51.05 percent stake.
Sadek El-Sewedy
Egyptian brothers, Ahmed and Sadek El-Sewedy, emerge as Egypt’s newest billionaires
The rise in the El-Sewedy brothers' fortunes is attributed to an 80.6-percent increase in Elsewedy Electric's share price.