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The Ghabbour family, one of Egypt’s most prominent business families, has recently gained $51 million from their stake in GB Corp, one of the country’s leading automotive groups, as the company’s share price on the Egyptian Exchange (EGX) saw a notable rise.
Controlling a 63.4-percent stake in GB Corp—around 688.2 million shares—the family has seen the market value of its holdings increase by EGP 2.49 billion ($51.22 million) over just 58 days. The surge reflects growing investor confidence in both GB Corp’s recent performance and the broader Egyptian stock market.
GB Corp’s strong market performance
Founded in 1985 by the late auto magnate Raouf Ghabbour, GB Corp has become one of the Middle East and North Africa’s key players in the automotive sector, assembling and distributing vehicles for global brands. Headquartered in Cairo, the company remains led by the Ghabbour family, reflecting their presence in Egypt’s industrial and financial landscape.
In the past two months, GB Corp’s shares have climbed 16.8 percent, rising from EGP21.55 ($0.44) on July 1 to EGP25.17 ($0.52). This increase has lifted the automaker’s market capitalization to nearly $560 million. Consequently, the market value of the family’s controlling stake has grown from EGP14.83 billion ($304.93 million) to EGP17.32 billion ($356.15 million), further cementing their position among Egypt’s top-listed companies on the EGX.
Investor returns surge over 46% year-to-date
Beyond the family’s wealth, GB Corp. has also been a strong performer for other investors. So far this year, the stock has gained 46.94 percent. A $100,000 investment in GB Corp. at the start of 2025 would now be worth $146,940, generating a profit of nearly $47,000.
The Ghabbour family’s growing stake not only cements its place among Egypt’s wealthiest investors but also reflects increasing confidence in the country’s auto industry and broader capital markets.
