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The recent surge in the market value of their stake in Oriental Weavers reinforces their status among Egypt’s wealthiest families and top investors on the Egyptian Exchange.
The recent $200-million decline in his fortune can be attributed to market fluctuations.
A significant part of this wealth reduction stems from his considerable 38.8-percent ownership in the Dutch fertilizer company OCI N.V. and a six-percent stake in Adidas.
The $200-million surge in Mansour’s fortune in 2023 is largely linked to his investment in the family-owned conglomerate Mansour Group.
In 2023, Elsewedy Electric shares on the Egyptian Exchange experienced a remarkable surge of 130.7 percent.
Egyptian billionaire Ahmed El-Sewedy disclosed that the dam is now 94-percent complete and undergoing rigorous testing.
This latest venture with MAFI comes shortly after Elsewedy Electric announced plans to launch a multimillion-dollar industrial city project in Tanzania.
From Peters’ ace move in Mozambique to Johann Rupert’s claim of the title of Africa’s richest man, it has been an interesting week in African wealth.
The surge in Sawiris’ net worth has propelled him from $5.1 billion on Jan. 1 to $6.43 billion, adding $1.33 billion to his fortune since the start of the year.
Mansour, the chairman of Palm Hills Developments, owns a 7.29-percent stake in the leading real estate group.
Prior to the transaction, Ezz held a commanding 60.71-percent stake.
Ahmed El-Sewedy and siblings Sadek and Mohammed hold a combined 68.1-percent majority stake in Elsewedy Electric, a staggering 1.48 billion ordinary shares.
This impressive financial gain further solidifies the Ghabbour family’s position as one of the richest investors on the Egyptian Exchange.
Sawiris owns a 9.2-percent stake in UAE-based investment firm, B Investments.
The billionaire influx includes Egypt’s richest man, a crypto industry leader, and a hedge fund tycoon.
Egypt’s second-richest man Naguib Sawiris seeks to solidify his presence further in the Caribbean.