Egyptian Richest People According to the Forbes Billionaires worlds list 1-Nassef Sawiris, $6.7 billion Egyptian, Construction Nassef Sawiris is the CEO of Orascom Construction Industries (OCI), Egypt’s most valuable publicly-traded company. In January last year, he announced that OCI was exchanging all global depositary receipts of the company for newly issued shares of OCI NV on the NYSE Euro next in Amsterdam. Bill Gates was part of a consortium of U.S investors who provided $2 billion to help cover payments to shareholders who prefer to tender their OCI shares for cash. 2-• Mohamed Mansour, $3.1 billion • Egyptian, Diversified • Despite instability in Egypt, Mohamed Mansour and his two brothers, Yasseen and Youssef (also billionaires), are prospering thanks largely to their Mansour Groups Caterpillar tractor and equipment sales in eight African countries and Russia. The company generated more than $6 billion in revenue last year, a 16% increase over 2012, with 60% coming from outside Egypt. To sustain its growth, Mansour Groups Unatrac subsidiary, which holds the Caterpillar business and is run by Mohameds son Loutfy, signed a $700 million syndicated credit facility last June. In Egypt the company reports strong sales of cigarettes through its Philip Morris unit, and food through its Metro Supermarkets. 3-• Naguib Sawiris, $2.8 billion • Egyptian, Telecoms • Naguib Sawiris, scion of the Sawiris business family made his fortune in telecom. His Orascom Telecom Media and Technology owns a 75% stake in Koryolink, North Korea’s only cell network. He is still actively looking for opportunities in the industry through his listed telecom firm Orascom TMT (formerly Weather Investments) and investment fund Accelero Capital. 4-• Onsi Sawiris, $2.4 billion • Egyptian, Diversified • Onsi Sawiris is the patriarch of Egypt’s wealthiest family, and founder of the eponymous Orascom conglomerate, which is involved in construction, telecoms and hotels. The companies are all run by his three sons- Naguib, Samih and Nassef, all billionaires. 5-• Youssef Mansour, $2.3 billion • Egyptian, Diversified • Youssef Mansour is a part owner of Mansour Group which owns Caterpillar dealerships in 8 African countries and General Motors dealerships in Egypt and Iraq, as well as supermarkets, McDonald’s and Philip Morris distribution. He maintains a lower profile than his billionaire brothers Mohamed and Yasseen. 6-Mohamed Al Fayed, $1.9 billion Egyptian, Property In 2010 Mohammed Al-Fayed sold his Harrod’s department store in London to Qatar Holding for a reported $2.4 billion and last July, he sold Fulham Football Club, which he acquired in 1997 to American billionaire Shahid Khan for a reported $300 million. He now owns the famed Hotel Ritz in Paris which he closed in August 2012 to start construction on what will be the hotels biggest redo since it was built in 1898 and also owns Cocosa, a U.K.-based discount fashion website. 7- • Yasseen Mansour, $1.8 billion • Egyptian, Diversified •• Yasseen Mansour and his brothers Youssef and Mohammed run Mansour Group, a large Egyptian conglomerate which owns Caterpillar and General Motor dealerships, supermarkets, restaurant franchises, and Philip Morris distribution in Egypt. 8-• Samih Sawiris, $1.3 billion • Egyptian, Property Development • Samih Sawiris is the youngest son of Egyptian construction magnate Onsi Sawiris. His company, Orascom Development develops integrated towns and operates resorts in Egypt. He also owns a minority stake in construction company, OCI N.V., which was founded by his father Onsi and is now run by his brother Nassef.
Posted on: Tue, 04 Mar 2014 22:05:22 +0000
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