Egypts

Richest
Egypt has seven prominent billionaires and even more millionaires. Who are they?

16

Men
Brought to you by

A fun fact:

Bill Gates is not the richest man in the world

for the time-being at least.

Egypt has scored numerous times. Names like Sawiris, Sewedy, Mansour and Ghabbour come to mind at first thought. But to determine who is the richest of them all and who follows, one needs to carefully evaluate the wealth of each. In this report, Egypt Business Directory brings you Egypts 16 Richest Men and tells you a little more about them.

The Microsoft-founder was overtaken by Mexican Telecom-Giant Carlos Slim Helu and his family. According to prominent business magazine Forbes, 73year-old Helu or better known as Slim has an estimated wealth of $73 billion, whereas Gates is at $67 billion. The first Arab in the long list of the Worlds Richest People list comes at place 26, with no other than Prince Alwaleed Bin Talal Alsaud from Saudi Arabia. With a net worth of $20 billion, the investor barely owns a third of Gates fortune.

The second Arab is Mohammed Al Amoudi, also known as one of Saudi Arabias oil sheikhs. Although he comes at place 65 with a wealth of $13.5 billion, he still is richer than Mark Zuckerberg, founder and owner of infamous most used website worldwide Facebook. Yet, it is not until further down that Egyptian businessmen earned a place in the list. In the long list of international billionaires and millionaires,

The richest Egyptians are...

$ $
$

What do they do?

Getting rich requires a lot of hard work so what did Egypts richlist do to get to where it is today?

ith a net worth of $6.5 billion (in 2011 it was $4.75 billion), Nassef Sawiris runs Orascom Construction Industries, Egypts most valuable publicly-traded company, which was founded by father Onsi. The construction and fertilizer companys shares fell almost one-third during the protests leading up to Egyptian President Hosni Mubaraks resignation in February 2011. They later rallied to pre-revolution levels, but recently slipped again, due to the travel ban that was placed on Sawiris and his father. Sawiris is the 4th richest man in Africa and also owns big stakes in cement giant Lafarge, and Texas Industries.

$ 1

ith a net worth of $2.5 billion (in 2011 it was $2.9 billion), Naguib Sawiris, the eldest son of Egyptian billionaire Onsi Sawiris, built Orascom Telecom, then sold the familys stake to Russian and emerging market telecom giant VimpelCom in April for $6.5 billion in shares and cash, becoming one of VimpelComs largest shareholders in the process. Sawiris is Africas 9th richest man and also delved into Egyptian politics, forming the Free Egyptians party in April 2011 to promote free markets and a secular platform.

fricas 10th richest man Mohamed Mansour (net worth $2.2 billion in 2013 $1.7 billion in 2011) and his brothers are the biggest sellers of GM vehicles in the world. Strong sales in their Caterpillar business throughout Africa, Russia and Iraq are making up for a slump in Egypt. Other interests include the largest supermarket chain in Egypt (Metro), and the Philip Morris franchise.

ith a net worth of 2 billion ($2.6 billion in 2011), Onsi Sawiris is the patriarch of Egypts wealthiest family and shares the fourth and fifth rank with Yasseen Mansour in this list. The Egyptian government nationalized his first construction business in 1971. Undeterred, he rebuilt what became Orascom Construction Industries. His son Nassef took over in 1995. Another son, Naguib, built a separate telecom company, while son Samih went into hotels and real estate. Onsi Sawiris now owns shares in Russian mobile operator VimpelCom, following its acquisition of the family stake in Orascom Telecom in April 2011.

ith a net worth of $2 billion ($1.55 billion in 2011), Yasseen Mansour, the youngest of Egypts three Mansour brothers, was put on the Interpol list on fraud charges in 2011, but was removed after being cleared of corruption charges over the misappropriation of state land for Palm Hills Developments. Yasseen, his brothers and cousin, the former housing minister who was also accused, but cleared on Palm Hills, are the largest shareholders in the companyEgypts second-biggest real estate developer. Yasseen resigned as CEO, but remains chairman. The majority of his fortune is tied up in the family business; it is the largest seller of GM vehicles in the world.

ith a net worth of $1.95 billion ($1.55 billion in 2011), Youssef Mansour, the older brother of Egyptian billionaire businessmen Mohamed and Yasseen, keeps a low profile. His assets, especially in publicly traded real estate development company Palm Hills Developments, took a hit with the Egyptian uprising early in 2011. Youssef is responsible for building Egypts largest supermarket chain, Metro, but now devotes time to the family foundation which targets illiteracy and education. The bulk of his fortune comes from the familys business as the largest seller of GM vehicles in the world, and strong sales of Caterpillar machines.

ith net worth of $1.4 billion, Mohamed Fayed is the last on the list of Egyptian billionaires. Back in the 50s, he set up a The General Navigation Company (Genavco), which was later nationalized by Gamal Abdel Nasser. Serving as the Chairman of Harrods in London for over 25 years, Fayed also bought British football team Fulham Football Club and even dined with Iron Woman Margret Thatcher at 10 Downing Street because he managed his finances in a way that was beneficial to the British economy. He was also granted the Medaille de Paris because he personally oversaw the renovation of Frances Hotel Ritz, spending about $1 million per room. He bought it in 1979. Fayed also turned Scottlands Falls of Shin into a tourist attraction.

ith a net worth of $720 million, Shafik Gabr is the richest known millionaire in Egypt. Gabr founded and built conglomerate ARTOC; a company with interests in steel fabrication and logistical services for oil and gas companies. Being a vivid art collector and with focus on Orientalist art, Gabr owns a foundation that promotes East-West dialogue through arts, science and business, aiming to reconstruct the relationship between governments on each side of the world.

1 9 10 1 12 13 1 4 6 15 1
With a net worth of $525 million, Samih Sawiris is the Chairman of Board of Directors of Orascom Development, mainly serving in the Tourism sector. With a net worth of $167.4 million, Raouf Ghabbour is the Chairman of the Board of Directors, CEO and Founder of Ghabbour Auto. With a net worth of $149 million, Sadek Sewedy is the Chairman of ElSewedy Industries Group, mainly active in the energy and lighting sector. With a net worth of $149 million, Ahmed Sewedy is the CEO and Managing Director at ElSewedy Electro-meter. With a net worth of $136.7 million, Soliman Abdel Mohsen is a Shareholder in multiple companies, such as Citadel Capital, 6 October for Development and Investment and GB Auto. With a net worth of $116.1 million, Mohamed Farid Khamis is the Founder of Oriental Weavers, Egypts leading textile company. With a net worth of $115.4 million, Mohamed Ebeid ElMella is a Shareholder in multiple companies, such as Unikai, United Foods, Dubai Insurance, Dubai Development and others. With a net worth of $110.2 million, Mohamed Sewedy is the Vice Chairman & Managing Director of ElSewedy Group.

Egypts 16 Richest Men

is brought to you by:

egypt
Business Directory

Do not miss our free weekly news and business updates! Sign up here: http://www.egypt-business.com/s/newsletter
Egypt-Business.com is an online directory of Egyptian firms with company profiles, press releases, tenders, jobs and management news. Egypt Business Directory gives companies and entrepreneurs a chance to set foot in the regional and global market by setting up their profile according to their needs. With traffic from over 152 countries, these profiles are visible to local and international investors and customers. Focusing on Business-to-Business communication and relations, we the team of egypt-business. com aim at promoting the Egyptian and Arab economy and giving entrepreneurs, start-ups and new companies the chance to be heard and seen. We give you a platform to publish your news, job offers, tenders, events, and latest products. Egypt-Business.com is operated by marketing-BRSE GmbH, a leading German provider of internet-technology. Marketing-boerse.de is the largest marketing-directory in Germany. Images used in this document are property of Forbes, AlSharq AlAwsat Newspaper, respective and mentioned company websites. Egypt Business Directory 28 AbdelRahman Sedky Street Nasr City, Cairo Mobile: 012 2 81 30 80 9 E-Mail: sales@egypt-business.com