Egyptian billionaire businessman Youssef Mansour, who co-owns Mansour Group with his brothers, has seen his net worth climb by $200 million in the last three days due to a recent surge in the market value of his diverse interests.
According to Forbes, a leading U.S. business magazine that tracks the fortunes of the world’s ultra-high-net-worth individuals (UHNWIs), Youssef Mansour, a leading figure among Egyptian businessmen and one of North Africa’s top billionaires, has increased his net worth by $200 million from $1.3 billion on Nov. 17 to $1.5 billion at the time of writing this report.
With a current fortune of $1.5 billion, Youssef Mansour, one of Africa’s richest billionaires, ranks 1,932nd on Forbes’ global list of the wealthiest individuals, trailing Tanzania’s richest man Mohammed Dewji and Moroccan Prime Minister Aziz Akhannouch, a leading businessman.
The recent increase in his income can be attributable to the strong performance of his diverse portfolio of interests, which includes a minority position in Cairo-based real estate firm Palm Hills Development.
Youssef Mansour is a director of Mansour Group, a well-established family-run business founded by his father Loutfy Mansour in 1952, in addition to his stake in Palm Hills Development, where he sits on the board.
For decades, Mansour Group has been a crucial pillar in shaping the fortunes of the Mansour family, serving as the major motor behind Youssef Mansour and his brothers’ billion-dollar riches. Their combined net worth stands at an astonishing $6.4 billion as of July 2023.
Youssef Mansour, the Egyptian billionaire who co-founded Mansour Group with his brothers, is in charge of the consumer products segment, which includes the Metro supermarket chain and the exclusive distribution rights for L’Oreal in Egypt.
This significant increase, amounting to a whopping $200 million, drives Youssef Mansour to the upper echelons of Egypt’s wealthiest billionaires while also cementing his position as one of the most opulent magnates on the African continent and in the Arab world.