PH
Egyptian billionaire Naguib Sawiris’ wealth has increased by $130 million in the last 17 days. His diverse assets in the telecom, mining, and construction sectors helped drive this increase, making his net worth close to $7 billion.
Sawiris, Egypt’s second-richest individual, increased his fortune by $130 million in the last 17 days, according to the Bloomberg Billionaires Index, which measures the wealthiest billionaires worldwide. His net worth has increased from $6.6 billion on March 23 to $6.73 billion as of this writing.
This new increase brings his year-to-date winnings to $256 million and is due to his diverse investment portfolio. The portfolio comprises investments in La Mancha Resources and Endeavor Mining, both of which are publicly traded gold producers listed on the London Stock Exchange.
With a net worth of $6.73 billion, Sawiris is not only Egypt’s second-richest businessman, but also ranks 410th on Bloomberg’s list of the world’s wealthiest people, cementing his status as one of Africa’s most opulent billionaires.
Naguib Sawiris’ investment style has evolved in recent years. Following his 2011–2012 exit from Russian telecom giant Vimpelcom (now Veon), he has deployed cash through a number of private investment firms. He also continues to actively seek out new chances.
In an April 2018 interview with Bloomberg News, Sawiris identified himself as one of the world’s greatest gold-mining investors. His 37% interest in publicly traded Orascom Investment Holding is held indirectly via OTMT Acquisition Sarl, a Cairo-based firm formed by the merger of Vimpelcom and Orascom’s erstwhile parent, Orascom Telecom Holding.
