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Egyptian billionaire Ahmed Ezz has seen the market value of his stake in Ezz Steel, the Middle East’s largest steel producer, increase by $22.46 million, thus boosting his fortune and strengthening his influence in Egypt’s industrial and manufacturing sectors.
Ezz, who controls 66.45 percent of Ezz Steel—equal to 364,047,977 shares—recorded a EGP1.06 billion ($22.46 million) gain, lifting the total value of his holdings to about $1.07 billion. The jump reflects renewed investor confidence in Egypt’s steel industry, which remains a bellwether for the country’s infrastructure and construction activity.
Earlier gains add to a strong year
This latest rise follows earlier gains between March 17 and April 3, when the market value of Ezz’s stake climbed from EGP47.33 billion ($935.76 million) to EGP50.29 billion ($994.42 million)—a $58.66 million increase in just over two weeks. Those gains further solidified Ezz’s position among Egypt’s wealthiest businessmen.
Ezz Steel, which has a strong presence in the home market and exports to various regional hubs, can produce 7 million metric tons of steel per year. Hadeed in Saudi Arabia and Emirates Steel in the UAE are two competitors in the region that don't make as much as that.
Rising share price and investor confidence
Over the past 12 days, Ezz Steel’s share price on the EGX has increased by 2.14 percent, rising from EGP138.15 ($2.91) on Oct. 15 to EGP141 ($2.98). The uptick has propelled its market cap above $1.5 billion, thus generating impressive returns for shareholders.
For Ezz, the continued strength of the company’s shares underscores his growing role in the region, as the sustained rise in Ezz Steel’s stock has lifted the market value of his stake from EGP49.87 billion ($1.05 billion) on Oct. 15 to EGP50.94 billion ($1.07 billion), marking another paper gain of $22.46 million.
Ezz Steel remains one of the best-performing companies on the EGX so far in 2025 with its share price up 22.8 percent since the start of the year. A $100,000 investment in its shares at the start of the year would now be worth $122,800, which is a paper gain of $22,800.
