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10 Richest People in Egypt Running The Country With Their Abundant Wealth

Here are the 10 richest people in Egypt running the country with their abundant wealth and business empire.

10. Sadek El-Sewedy

Sadek El-Sewedy is the Chairman at El-Sewedy Electric Com­pany. He owns 23.33% of the company’s shares and had also served on the board at Arabia Investments Development and Fi­nancial Investments Holding. his worth  is in excess of 300 million dollars.

9.Raouf Ghabbour

Raouf Ghabbour is the Chairman and Chief Execu­tive Officer of Ghabbour Auto (GB Auto), which was founded in 1999 and manufactures trucks, buses etc. He holds 31.52% of its shares.

8) Ahmed Ezz – $520 Million

Ahmed Ezz is a Steel magnate and a politician. He served as chairman of ousted Egyptian President Hosni Mubarak’s ruling political party, his wealth suffered a major setback following his accusation of corruption during the uprisings in 2011,convicted and served a three-year jail-term. he was later released.

Ezz was forced to relinquish his place as chairman of Ezz Steel, one of the largest steel manufacturers in the Middle East following his imprisonment. However, his holding company – Ezz Group remains a majority shareholder in the company. Ahmed Ezz is married with two children.

7) Samih Sawiris – $1.1 Billion

Samih Sawiris is the second son of Egyptian construction magnate Onsi Sawiris. A trained Engineer. samih is head of Orascom Development company, a company reknowed for building and operating  resorts in Egypt, Montenegro, and Switzerland. The political uprising in 2011 also hit the company hard as tourism which drives up the company’s profits was stalled, Sawiris also has nearly 10% stake in construction giant OCI N.V., which belongs to  his father, Onsi, and is now run by his  other brother Nassef. The sawiris brothers are all billionaires.

6) Onsi Sawiris – $1.9 Billion

The head of Egypt’s wealthiest family and also the founder of Orascom Construction Industries is Egyptian Onsi sawiris. Following the Egyptian political uprisings in 2011, the company stock and listing was transferred to Euronext in Amsterdam by his son – Nassef who heads the company. Onsi Sawiris still owns nearly 25% of OCI.

In November 2014, OCI won a tax evasion case brought against it by the government when Mohamed Morsi was president. OCI had agreed to disburse $1 billion over five years, but appealed after Morsi was ousted. There are ongoing plans to separate its construction unit from the chemicals and fertilizers business, and list the newly formed Orascom Construction in Egypt and in the United Arab Emirates in the first quarter of 2015.

 

5) Yasseen Mansour – $2.3 Billion

Yasseen Mansour and his brothers Youssef and Mohammed run Mansour Group, which owns Caterpillar dealerships in several African countries and the sole rights to General Motors dealerships in Egypt and Iraq, as well as supermarkets, all McDonald’s 81 outlets in Egypt, and the distribution of L’Oreal cosmetics in Egypt. Yasseen, embroiled in corruption charges following the ouster of former Egyptian President Hosni Mubarak, has settled his legal issues.

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He is the founder  of one of Egypt’s biggest real estate developers, publicly-traded Palm Hills Developments, . U.S. private equity firm Ripplewood bought a 2.3% stake in Palm Hills in May 2014 for an undisclosed amount, with its CEO appointed as the vice chairman.

4. Youssef Mansour – $2.9 Billion

Youssef Mansour keeps a lower profile than his billionaire brothers Mohamed and Yasseen. Each of the brothers owns a stake in Mansour Group, a conglomerate that derives the bulk of its value from its Caterpillar dealerships in Russia and several African countries. While Mohamed oversees Caterpillar and the group’s General Motors dealerships in Egypt and Iraq, Youssef is in charge of the consumer goods division, which include the Metro supermarket chain; Egypt’s largest, as well as tobacco brands, and all the 81 McDonald’s restaurants franchise in Egypt.

 

3) Naguib Sawiris – $3.1 Billion

Naguib Onsi Sawiris is an Egyptian billionaire businessman. Sawiris is Chairman of Weather Investments’s parent company and Chairman of Orascom Telecom Media and Technology Holding S.A.E. Naguib Sawiris returned as theChairman of orascom Telecom, following the resignation of the previous CEO. His telecom empire extends from Algeria to Pakistan. Naguib Sawiris net worth is in excess of 3.1 billion dollars.

2) Mohamed Mansour – $4 Billion

Mohamed Mansour, is the chairman of the conglomerate Mansour Group,  also one of the large business empires to suffer from the Egyptian uprising. the company is involved in the sales of General Motors Company products in Egypt. According to him, sales have surpassed are on track to reach 70,000 vehicles this year– up from a year ago but still down from a peak of 94,000 in 2010. Mansour Automotive is the sole distributor for General Motor Company products in Egypt.

The past three years has seen their private equity arm invest more than 500 million Dollars in international businesses including telecoms, education, and real estate in Missouri in the United States. The mansour Brothers are both Billionaires.

1) Nassef Sawiris – $6.1 Billion

Egypt’s richest man for 3 years in a row is Nassef Sawiris. Nassef has investments in Petroleum and Petrochemical companies, Agriculture, Construction and Mining.  In November 2013, he partnered with Abu Dhabi’s International Petroleum Investment Co. to develop a coal-based power plant in Egypt. He also plans to separate OCI’s construction unit from its chemicals and fertilizers arm, and list the newly formed Orascom Construction in Egypt and the UAE in the first quarter of 2015.

He is the youngest of the Sawiris Brothers. fiinished from the university of Chicago.

He bought one of  the costliest apartment in Manhattan which belonged to the late Edgar Bronfman Sr.’s Fifth Avenue penthouse for $70 million in May 2014.  Nassef Net worth is in excess of 6.1 billion dollars according to Forbes listing.

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