Egyptian Tycoon Ahmed Ezz Earns $45 Million in Just 14 Days

Ahmed Ezz, a well-known Egyptian businessman and the inventor of Ezz Steel, has seen his wealth increase significantly in the last two weeks, topping $40 million. This increase is attributable to value investors increasing their stakes in Ezz Steel on the Egyptian Exchange.

The market value of Ezz’s holding in the top steel maker has increased by EGP1.39 billion ($45 million) in the last 14 days, aligning with the company’s rising share price.

Ezz Steel, the top steel producer in the Middle East and North Africa, recently reported solid financial results, boosting investor confidence. With a manufacturing capacity of 5.14 million metric tonnes, it outperforms competitors like Saudi Arabia’s Hadeed and Emirates Steel.

Ezz, the mastermind behind Ezz Steel, owns 60.7 percent of the company. His holding, totaling 329,816,198 shares in the steel behemoth, has cemented his status as one of the Egyptian Exchange’s wealthiest investors.

Over the last 13 days, Ezz Steel’s shares on the Egyptian Exchange have climbed by 5.5 percent, from EGP76.55 ($2.48) on Feb. 7 to EGP80.7 ($2.61), bringing the group’s market capitalization above $1.4 billion.

The market value of the Egyptian billionaire businessman’s stake has risen by EGP1.39 billion ($45 million) in the last 14 days, from EGP25.25 billion ($817.1 million) on Feb. 7 to EGP26.64 billion ($862.04 million) at the time of writing, as the group’s share price increased by 5.5 percent.

Ezz’s recent $45 million share gain in Ezz Steel solidifies his position as a wealthy investor and businessman in Egypt.

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