Key Factors
- Naguib Sawiris’ internet value has risen by $469 million this yr, reaching $7.35 billion, in keeping with the Bloomberg Billionaires Index.
- Sawiris’ holdings in actual property, telecom, and mining, alongside $6.33 billion in money reserves, have fueled his monetary positive factors.
- His stake in Endeavour Mining dropped to $722 million, whereas Evolution Mining rose to $235 million; he additionally holds Orascom stakes.
Like his youthful brother, Nassef Sawiris, who has seen his wealth develop considerably this yr, Naguib Sawiris—Egypt’s second-richest particular person—has additionally added to his fortune. Because the begin of the yr, his internet value has risen by $469 million, pushing it previous the $7 billion mark.
In keeping with the Bloomberg Billionaires Index, Sawiris’ wealth has climbed from $6.98 billion on Jan. 1 to $7.35 billion as of this report. This follows a $500 million gain in 2024 when his fortune elevated from $6.48 billion to $6.98 billion.
Together with his present internet value, he ranks 427th among the many world’s richest people, forward of Gary Rollins, the previous chairman and CEO of pest management large Rollins Inc. He stays Egypt’s second-richest man, trailing solely Nassef, whose fortune stands at $9.13 billion.
Sawiris’ fortune climbs with diversified holdings
Sawiris cemented his place among the many world’s wealthiest in 2010 when he struck a significant deal, promoting most of his telecommunications belongings—together with Italy’s Wind Telecomunicazioni and 51 % of Cairo-based Orascom Telecom Holding—for $1.5 billion and a 20 % stake in Vimpelcom. The transaction alone earned him $300 million, and between 2011 and 2012, he raised greater than $4 billion by promoting his Vimpelcom shares.
Extra lately, his wealth progress has been pushed by diversified investments throughout actual property, telecommunications, and mining. A good portion of his fortune—$6.33 billion, up from $6.25 billion on Feb. 10—is held in money reserves, which have already been revalued twice this yr, simply as they have been in 2024.
Sawiris’ mining, development holdings change
Past his money holdings, Sawiris has remained energetic within the mining sector by La Mancha Assets, his personal funding agency, and his stakes in two publicly traded gold mining firms: Endeavour Mining and Evolution Mining.
His stake in Endeavour Mining, a London-listed gold producer, is valued at $722 million, down from $744 million on Feb. 10, whereas his place in Evolution Mining, an Australian firm with operations in Australia and Canada, has risen to $235 million from $220 million.
He additionally holds a $34.6 million stake in Orascom Building and a $20.6 million stake in Orascom Funding Holding.
