Top 10 Richest Men In Egypt – Egypt is the third-largest African country in terms of GDP. Based on this, it has remained the biggest economy in northern Africa year after year. So, it is noteworthy to discuss some of the major contributors to the robust GDP growth of Egypt.
In every country, businessmen are considered one of the key metrics which facilitate the growth of the economy. With respect to this, the Sawiris family and the Mansour family are considered the wealthiest Egyptian descents with massive contributions to the country’s business sector.
The information above draws attention to the Top 10 Richest Men in Egypt for 2020 and as you stick with this post, you will find out how these Egyptian men managed to build their reputations as wealthy businessmen.
Top 10 Richest Men in Egypt 2020
Net Worth: $6.4 Billion
With the estimated net worth of $6.4 billion, Nassef Sawiris is currently the richest Egyptian. He has made great wealth through business involvement typically by setting up a number of ventures spanning across agribusiness, mining, development, and oil. In conjunction with a global oil enterprise (owned by Abu Dhabi), Nassef Sawiris set up a power plant that specializes in the production of coal. Besides the coal venture, Nassef Sawiris is well-known as the originator of Orascom development in both Egypt and the United Arab Emirates. Over the years, his wealth has risen significantly, giving him the unrivalled spot as the richest man in Egypt.
Nassef Sawiris – Richest Man In Egypt
Net Worth: $2.9 Billion
Naguib Sawiris is the third wealthiest Egyptian with the net worth $2.9 billion. He’s one of the country’s most successful business moguls. He manages Orascom Media Telecom and Innovation alongside Weather Investment. Naguib Sawiri’s business involvement spanned across innovation enterprises, media and cell phones within and outside Egypt. The foreign countries he extended his businesses to are Lebanon and Pakistan.
However, Naguib Sawiris sold his shares in Mobinil –the cell phone company he was associated with –to Orange telecom. Consequently, he excluded himself from the cell phone business.
Net Worth: $2.3 Billion
As regards his sumptuous net worth of $2.3 billion, the second richest man in Egypt, Mohammed Mansour, who formerly served as a government official, is the second richest man in Egypt. Mohammed Mansour makes the robust part of his wealth through the ownership of the Mansour Group – an Egyptian aggregate company with the sole authority to control McDonald’s ventures and deal in GM vehicles and Caterpillar gear. The Mansour Group makes the largest portion of its revenue through vibrant operations in foreign countries.
Mohammed Mansour has wealthy brothers –in the names of Yasseen and Youssef –and they also have certain rights in the management of the Mansour Group.
Net Worth: $1.5 Billion
Net Worth: $1.5 Billion
Alongside his Egyptian brothers (Youssef Mansour and Mohammed Mansour), Yasseen Mansour manages the Mansour Group –a reputable Egyptian company with the sole authority to deal in Caterpillar in Egypt, Russia and a number of African countries. Besides, the Mansour Group owns General Motors –a dealership business with operations in Egypt and Iraq.
As a member of the Mansour Group, Yasseen Mansour takes administrative charge of a land improvement firm known as Palm Hills. Meanwhile, Yasseen Mansour is the fifth richest man in Egypt, as he maintains the net worth of $1.5 billion.
Net Worth: 1.2 Billion
Youssef Mansour is another fortunate business mogul belonging to the Mansour family –one of the richest Egyptian backgrounds. With the net worth of $1.2 billion, Youssef Mansour is considered one of the richest Egyptians alongside his brothers Yasseen Mansour and Mohammed Mansour.
Youssef Mansour, together with his two brothers, holds significant shares in the Mansour Group. As an Egyptian aggregate company, the Mansour Group makes the largest portion of its revenue from Caterpillar deals in foreign nations including a number of African countries and Russia. Within the Mansour Group, Youssef Mansour takes charge of the consumer division.
Net Worth: $1.1 Billion
Onsi Sawiris is the father of Nassef Sawiris as well as an aged member of the Sawiris family –one of the richest Egyptian backgrounds. He is the founder of Orascom Construction Industries. Nassef Sawiris is the administrator of Orascom Construction Industries but in spite of this, Onsi Sawiris still owns the quarter of the company. Over the years, Onsi Sawiris has maintained his presence among the richest Egyptians and at the moment, his net worth hangs around $1.1 billion.
Net Worth: $1.1 Billion
Samih Sawiris is another wealthy business mogul belonging to the Sawiris family. Alongside his brother (Nassef Sawiris) and his father (Onsi Sawiris), he is considered one of the richest men in Egypt. As a proficient architect, Samih Sawiris administers Orascom Development –an OCI division that specializes in compartments and working resorts in Switzerland and Egypt. Samih Sawiris is believed to have generated the largest portion of his wealth from tourism as he accounts for 10 percent of the entire shareholding of OCI development. At the moment, Samih Sawiris’ net worth stands at $1.1 billion.
Net Worth: $720 Million
Shafik Gabr is a renowned Egyptian tycoon who manages a conglomerate business known as ARTOC. Through ARTOC, Shafik Gabr specializes in steel production, prefabricated factories and provision of logistical services for the oil and gas industry. Unfortunately, Gabr’s business was weighed down as a result of the political crisis in Egypt. In 2012, his income was hit by a 20% reduction. He is the eighth richest Egyptian with a net worth of $720 million.
Ahmed Ezz is a steel magnate and the largest stakeholder of Ezz Group –the largest steel-making company in the Middle East. In 2011, some allegations were brought against him and as a result, he was imprisoned for three years. Ahmed Ezz endured a lot of frustration especially when he was forced to step down from his position as the executive of Ezz Steel. Currently, Ahmed Ezz still merits appearance among the richest Egyptians and his net worth is estimated at $520 million.
Raouf Ghabbour claims the tenth position among the richest men in Egypt. He magnifies his riches as the manager and CEO of GB Auto –also known as Ghabbour Auto. GB Auto is headquartered in Cairo and it is concerned with the assemblage of automotive vehicles such as cruisers, trucks, and cars. Raouf Ghabbour’s stakes account for 31 percent of GB Auto –a company that was set up in 1999 by Ghabbour Brothers.
GB Auto is a reputable and active company concerned with the production of various automotive brands including Yokohama, Hyundai, Lassa, Mazda, Iveco Irisbus, Bajaj, Mitsubishi, Marcopolo, Volvo, and Geely. Regarded as one of the wealthiest Egyptian tycoons, Raouf Ghabbour’s net worth is valued at $440 million.
That’s all on The Top 10 Richest Men In Egypt 2020.
Tags: Richest Men In Egypt 2020