Table of Contents
Key Points
- Naguib Sawiris’ wealth climbs to $9.13 billion, overtaking brother Nassef at $9.03 billion, according to Bloomberg estimates.
- Naguib’s fortune surged $2.25 billion in 2025, boosted by gold investments through La Mancha Resources, Endeavour Mining, and Evolution Mining.
- Nassef Sawiris saw modest $340 million gains this year, supported by OCI Methanol’s $1.6 billion sale to Methanex Corporation.
At the beginning of 2025, billionaire industrialist Nassef Sawiris held the title of Egypt’s richest man, with a fortune of $8.69 billion. By August, the balance had shifted. His older brother, Naguib Sawiris, has now overtaken him, with Bloomberg estimating Naguib’s wealth at $9.13 billion—about $100 million more than Nassef’s $9.03 billion.
Naguib Sawiris wealth surges $2.25 billion
Naguib, 71, is the eldest of three sons of the late Onsi Sawiris, who built the Orascom Group into one of Egypt’s most powerful business empires. Since the start of the year, Naguib’s fortune has jumped by $2.25 billion, climbing from $6.88 billion in January to its current level. Much of that increase has come in just the past few months.
Nassef, on the other hand, has seen only modest gains. His wealth has risen by $340 million this year, largely supported by proceeds from the $1.6 billion sale of OCI Methanol, the global methanol unit of OCI Global, to Canada’s Methanex Corporation. The sale helped strengthen OCI’s balance sheet and offset declines in Nassef’s stakes in both OCI Global and German sportswear giant Adidas.
Naguib gains big on gold bets
Naguib’s rise is tied to the performance of his gold investments. Through his private investment firm, La Mancha Resources, and stakes in Endeavour Mining and Evolution Mining, he has benefitted from a surge in gold prices. Gold is up more than 30 percent over the past year, with geopolitical uncertainty and global trade tensions driving investors toward safe-haven assets.
The effect has been dramatic. Naguib’s stake in Endeavour Mining, listed in London, has more than doubled from $500 million to $1.15 billion. His holding in Australia’s Evolution Mining has jumped from $150 million to $309 million.
Closer to home, his stakes in Orascom Construction and Orascom Investment Holding have also appreciated, moving from $34.4 million to $50.7 million and from $20.6 million to $47.1 million respectively.
Forbes keeps Nassef ahead of Naguib
While Bloomberg now places Naguib ahead of Nassef, Forbes tells a different story. Its latest estimates keep Nassef on top, valuing his fortune at $8.8 billion, compared with $5 billion for Naguib. The contrast highlights the challenges of pinning down billionaire wealth, which often shifts with market moves and the way assets are valued.
