Egyptian Mogul Hisham Talaat Moustafa Faces $180M Setback

Egyptian businessman Hisham Talaat Moustafa, the billionaire head of Talaat Moustafa Group (TMG) Holding, is experiencing new financial difficulties. This comes after his net worth plummeted by $727 million between March 6 and 9, as a result of the Egyptian pound’s devaluation.

The market value of Hisham Talaat Moustafa’s holding in TMG has fallen by EGP8.53 billion ($180.19 million) in the last 26 days, owing to continued selling pressure on the Egyptian Exchange’s top group’s shares.

Talaat Moustafa Group (TMG) Holding is a major player in Egypt’s real estate market, dating back to its inception in the early 1960s. It is currently one of Egypt’s major real estate developers.

Hisham Talaat Moustafa, the CEO who led TMG Holding to its current position in Egypt’s urban development, owns a controlling 43.16 percent ownership in the company, which represents 890,633,483 ordinary shares.

TMG’s share price on the Egyptian Exchange has dropped 12.42 percent since March 9, from EGP77.11 ($1.62764) to EGP67.53 ($1.4254). This fall has reduced the company’s market valuation to below $3 billion, resulting in losses for stakeholders, including Moustafa.


The market value of Moustafa’s stake has dropped by EGP 8.53 billion ($180.19 million) during the last 26 days, falling from EGP 68.68 billion ($1.45 billion) on March 9 to EGP 60.14 billion ($1.27 billion) at the time of reporting.

Despite failures and financial difficulties, Moustafa remains among the most wealthy investors on the Egyptian Exchange and is regarded as one of the wealthiest people in North Africa. His influence extends beyond his controlling ownership in TMG, demonstrating his perseverance in handling the challenges of new markets.

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