Egypt is home to some of the wealthiest individuals in Africa and the Middle East. These billionaires have built their wealth through their diverse businesses and investments.
They also have powerful names and influence stretching across continents and beyond. Some of these wealthy people hail from renowned families whose wealth dates back generations. From business moguls to real estate investors, these individuals have made their mark on the country’s economy and society.
First on our list is the 5th richest person in Africa, Nassef Sawiris, the CEO of Orascom Construction, with a net worth of $7.2 billion. Then we have his brother, Naguib Sawiris, with a net worth of $3.3 billion and the 8th richest person in Africa. He is a billionaire businessman and philanthropist who has made a name for himself in the telecommunications industry. Naguib is the eldest of three brothers, all of whom are among the richest people in Egypt.
Our team of experts thoroughly researched the richest people in Egypt based on their current net worth according to the Forbes list, their various assets, businesses and investments. This blog post will provide you with detailed information on Egypt’s wealthiest individuals.
1. Nassef Sawiris
Sources of Wealth: Construction
Net Worth: $7.2B
Nassef Sawiris is an Egyptian billionaire businessman and the CEO of Orascom Construction, one of the largest construction companies in the Middle East and North Africa. He was born on January 1961 in Egypt, the youngest son of Onsi Sawiris, the founder of Orascom. Nassef Sawiris’s spouse is Sherine Sawiris, and together they have four children. They reside in Cairo but also have a home in New York City.
After completing his secondary education at Deutsche Evangelische Oberschule Kairo, Nassef Sawiris pursued his bachelor’s degree in economics at the University of Chicago, which he obtained in 1982 and an MBA from the University of Zurich. He began his career at Orascom in 1982 and worked his way up to become the CEO in 1998. Under his leadership, Orascom Construction has expanded its operations beyond Egypt to other regional countries, including Saudi Arabia, the United Arab Emirates, and Qatar.
In addition to his role at Orascom Construction, Nassef Sawiris is also a board member of LafargeHolcim, one of the world’s largest cement producers, and a significant shareholder in several other companies, including Adidas and OCI N.V., a leading producer of nitrogen fertilizers.
Nassef Sawiris and billionaire Wes Edens jointly own the football club holding company V Sports. V Sports has a 46% stake in Vitória S.C., a Primeira Liga team, and also owns Premier League team Aston Villa. Furthermore, V Sports is currently in talks to establish a Major League Soccer team in Las Vegas. ‘Las Vegas Villains’ is already registered for copyright in American and European markets.
2. Mohamed Mansour
Sources of Wealth: Automotive, Consumer goods, Real estate, and Financial services
Net Worth: $3.6B
Mohamed Mansour is an Egyptian billionaire businessman and the chairman of the Mansour Group, a diversified conglomerate interested in automotive, consumer goods, real estate, and financial services. He was born in Alexandria, Egypt, on August 1, 1948, into one of Alexandria’s most prominent business families. Mohamed Mansour is married with two children living together in Mayfair, London.
Mansour obtained a Bachelor’s degree in Economics from North Carolina State University in 1968 and later earned an MBA from Auburn University. After completing his education, he joined the Mansour Group, founded by his father, Loutfy Mansour, in 1952.
Mohamed Mansour inherited control of the Mansour Group after his father’s passing in 1976. Despite the family business experiencing nationalisation and asset confiscation in 1965, he oversaw its resurgence and expansion, resulting in the company controlling nine of Egypt’s top Fortune 500 companies. He played a major in establishing the company’s private investment subsidiary, Man Capital, in London.
Under Mohamed Mansour’s leadership, the Mansour Group has expanded its operations beyond Egypt and has become one of the biggest privately held companies in the Middle East and Africa. In addition to his business ventures, Mansour has been active in politics and public service. He served as the Minister of Transport and Communications in Egypt from 2006 to 2009.
Beyond his business dealings, Mohamed Mansour is a global philanthropist who has supported various initiatives worldwide. North Carolina State University awarded him an honorary doctorate in May 2022. He made notable contributions to aid those affected by COVID-19 in the UK, Egypt, and Sub-Saharan Africa. He was also appointed to the Board of Trustees for the Grand Egyptian Museum by Presidential Decree issued in May 2021, and the museum is set to open in 2023.
Recently, Mansour was announced as the senior treasurer for the UK Conservative Party in December 2022. However, in February 2023, he agreed to a multimillion pound tax settlement following an investigation into Mansour Group subsidiary Unatrac by HM Revenue and Customs.
3. Naguib Sawiris
Sources of Wealth: Construction and Phone operations
Net Worth: $3.3B
Naguib Sawiris is a billionaire, businessman and philanthropist. He was born on June 17, 1954, in Cairo, Egypt, into a family of successful entrepreneurs. He is the son of Onsi Sawiris, the founder of the Orascom conglomerate, and the brother of Nassef Sawiris and Samih Sawiris, both successful businessmen. Naguib Sawiris is the eldest of three brothers. His brothers, Nassef and Samih, are also billionaires. Naguib Sawiris is married and has four children, and resides in Cairo.
He obtained a Diploma from the German Evangelical School in Giza and a Diploma in Mechanical Engineering with a Master’s degree in Technical Administration from ETH Zurich. Naguib Sawiris received another degree in engineering from the Technical University of Berlin in 1978. He then returned to Egypt and worked in the family business, eventually becoming CEO of Orascom Telecom Holding, which he founded in 1998.
Under Naguib Sawiris’ leadership, Orascom Telecom Holding grew into one of the largest mobile phone operators in the Middle East, Africa, and Asia, operating in over 20 countries. Having managed Orascom Telecom effectively for several years, Naguib Sawiris sold the company to Russian telecommunications behemoth VimpelCom for $6.5 billion in a combination of shares and cash. This transaction elevated Naguib Sawiris to become the largest shareholder in Vimpelcom.
Through La Mancha Resources, Naguib Sawiris owns stakes in gold mines, including Evolution Mining and Endeavor Mining investments. He sold his stake in telecommunications company Vimpelcom in 2011 and 2012, raising more than $4 billion.
In addition to his business ventures, Naguib Sawiris is known for his philanthropic work. He has established several foundations, including the Sawiris Foundation for Social Development, which focuses on education, health, and community development in Egypt.
4. Mohamed Al-Fayed
Sources of Wealth: Real estate, Hospitality, and Retail
Net Worth: $2 B
Mohamed Al-Fayed is an Egyptian-born businessman and billionaire. He was born on January 27, 1929, in Alexandria, Egypt, and is of Palestinian origin.
Fayed and his brother established a shipping firm in Egypt that later relocated to Genoa, Italy, with satellite offices in London. In 1964, he strongly affiliated with the Haitian head of state François Duvalier, popularly known as ‘Papa Doc,’ and became involved in plans to construct an oil refinery in Haiti bearing the name Fayed-Duvalier. He also socialised with the geologist George de Mohrenschildt. However, Fayed’s time in Haiti ended six months after a batch of “crude oil” given to him by his Haitian associates turned out to be low-quality molasses.
In the 1960s, he moved to the UK and established himself as a successful businessman, initially in the clothing industry. Later, he diversified into other areas, including real estate, hospitality, and retail. During the 1960s, he met Sheikh Rashid Bin Saeed Al Maktoum, the ruler of Dubai, who asked him to help develop the city. In 1968, he established IMS (International Marine Services) in Dubai and brought British companies such as Costain Group, Bernard Sunley & Sons, and Taylor Woodrow to build in Dubai. He also became a financial advisor to the Sultan of Brunei, Omar Ali Saifuddien III, in 1966.
Al-Fayed is best known for owning Harrods, the iconic luxury department store in London, which he acquired in 1985. He held the store for over 30 years before selling it in 2010 to the Qatari royal family. Al-Fayed also owned the Ritz Hotel in Paris, which he sold in 2012, and the Fulham Football Club, which he held from 1997 to 2013.
In addition to his business interests, Al-Fayed has been involved in various philanthropic and political matters. He has donated large sums of money to charitable organizations and has supported various political campaigns. In 1987, Fayed created the Al Fayed Charitable Foundation intending to help children with life-limiting illnesses and those living in poverty. The organization works with charities like Francis House Hospice in Manchester, Great Ormond Street Hospital, and ChildLine. In 1998, Al-Fayed purchased Princess Diana’s previous boarding school in Kent and created the New School at West Heath, which helps children with additional needs and mental health issues.
5. Youssef Mansour
Sources of Wealth: Automotive, Real estate, and Consumer goods
Net Worth: $1.6B
Youssef Mansour is an Egyptian billionaire businessman and a member of the Mansour family, one of Egypt’s wealthiest families. He was born on October 19, 1944, in Alexandria, Egypt.
After completing a textile technology and chemistry degree at North Carolina State University, he obtained a master’s degree in Business Administration from Auburn University and a Bachelor of Science in Engineering from North Carolina State University. Youssef Mansour is the founder and chairman of the Mansour Group, a conglomerate that operates in various industries, including automotive, real estate, and consumer goods. The Mansour Group is one of the largest companies in Egypt and has operations in more than 100 countries worldwide.
In addition to his extensive professional background, he helped establish the American Egyptian Chamber of Commerce and is a member of the Egypt – US Business Council and the Council of Egyptian businessmen. He is also the founder of Mantra and was Chairman from 1977 to 1992.
Aside from his work with the Mansour Group, Youssef Mansour is also involved in several philanthropic initiatives in Egypt, including supporting education and healthcare programs.
According to Forbes’s “African Rich List, 2022”, Youssef Mansour’s net worth is approximately USD 1.6 billion. However, net value can fluctuate based on market conditions and business performance, so his current net worth may differ.
6. Yasseen Mansour
Sources of Wealth: Automotive, Real estate, and Consumer goods
Net Worth: $1.1B
Yasseen Mansour is an Egyptian businessman and a member of the Mansour family, one of the wealthiest families in Egypt. He was born on October 22, 1961, in Cairo, Egypt. Mansour resides in Cairo with his spouse and four children.
He received his undergraduate degree from George Washington University. Yasseen Mansour is the co-chairman of the Mansour Group, a conglomerate that operates in various industries, including automotive, real estate, and consumer goods. The Mansour Group is one of the largest companies in Egypt and has operations in more than 100 countries worldwide.
In addition to his work with the Mansour Group, Yasseen Mansour is also a board member of several organizations, including the American Chamber of Commerce in Egypt and the Egyptian Junior Business Association.
According to the “Africa’s Rich List 2021” by Forbes, Yasseen is the 18th richest person in Africa for 2022, with a net worth of $1.1 billion. He is also one of the youngest billionaires on the continent.
7. Samih Sawiris
Sources of Wealth: Managing luxury hotels, Residential properties, and Resorts
Net Worth: $850M
Samih Sawiris is an Egyptian businessman. He was born in 1957 in Egypt and is the son of Onsi Sawiris, the founder of Orascom Construction Industries.
In 1980, Sawiris completed his diploma in engineering management from the Technical University of Berlin. Sawiris is the founder and chairman of Orascom Development Holding, a company that develops and manages luxury hotels, residential properties, and resorts in Egypt, Oman, Switzerland, and Montenegro. The company also operates marinas, golf courses, and other leisure facilities. He stepped down in December 2021, and his son has taken over the role. In 2011, Sawiris acquired a 12.5% stake in FC Luzern, a Swiss football club. He also invested in Bidroom, an online hotel booking platform that requires membership, in 2017. In 2014, he purchased 74.9% of the shares of Raiffeisen Touristik (RT) Group and later, in December 2019, acquired Thomas Cook (Germany) through RT Group.
In addition to his business ventures, Sawiris is also known for his philanthropic work. He established the Sawiris Foundation for Social Development, which supports a wide range of education, healthcare, and community development initiatives in Egypt.
Sawiris has received numerous awards and honours for his business and philanthropic work, including the Order of Merit of the Federal Republic of Germany in 2012 and the 2015 African Business Leader Award. He is considered one of the most influential business leaders in the Middle East and North Africa region.
8. Shafik Gabr
Sources of Wealth: Real estate, Hospitality, and Manufacturing
Net Worth: $730M
Shafik Gabr is an Egyptian businessman and philanthropist. He was born in Alexandria, Egypt, in 1954 and studied economics and political science at the American University in Cairo.
Gabr is the founder and chairman of the Artoc Group for Investment and Development, a diversified conglomerate interested in several sectors, including real estate, hospitality, and manufacturing. He is also the founder of the Shafik Gabr Foundation, which promotes cultural dialogue and understanding between the Arab world and the West.
In 2014, Gabr gained international recognition for his “East-West: The Art of Dialogue” initiative, which brought together 50 influential Western and Arab leaders to travel together and discuss art, culture, and politics. The industry aimed to promote mutual understanding and bridge the gap between the two regions.
Gabr received numerous awards for his business and philanthropic work, including the Carnegie Medal of Philanthropy in 2015.
9. Sadek El Sewedy
Sources of Wealth: Engineering and Infrastructure
Net Worth: $350M
Sadek El Sewedy is an Egyptian businessman and entrepreneur. He was born in Alexandria, Egypt, in 1954 and earned a degree in electrical engineering from Alexandria University.
Sewedy is the founder and chairman of the Sewedy Group, a diversified conglomerate interested in several sectors, including energy, engineering, and infrastructure. The group operates in Egypt and several other countries in the Middle East, Africa, and South Asia.
Under Sewedy’s leadership, the company has grown into one of Egypt’s largest private sector companies, focusing on infrastructure projects such as power transmission and distribution, renewable energy, and transportation.
In addition to his business ventures, Sewedy is also known for his philanthropic work. He has established several charitable organizations, including the Sadek Sewedy Foundation, which supports Egypt’s education, healthcare, and social development initiatives.
Sewedy has received several awards and honours for his business and philanthropic work, including the Order of Merit of the Italian Republic and the Egyptian Order of Merit. He is considered one of the most influential business leaders in Egypt and the Middle East.
10. Mohamed Ahmed El Sewedy
Mohamed Ahmed El Sewedy is the President and CEO of Elsewedy Electric, which has become one of the largest providers of integrated energy solutions with more than 30 production facilities in 16 countries that sells its products in over 110 markets. Currently, his net worth is estimated to be about $240 million.
Alongside his two brothers, Mohamed Ahmed El Sewedy is a board member of Elsewedy Electric. His ownership stake in the company is valued at $216.5 million, representing 17.78 percent of the total.
He has been instrumental in the growth of the company, leading the transformation of the family business, Arab Cables, into a global export powerhouse. In May 2006, he led the El Sewedy Cables IPO and private placement of shares on the Cairo and Alexandria stock exchange, which amounted to EGP 1.29 billion.
Eng. Ahmed chairs several business councils, including the Egypt-Lebanon, Egypt-Zambia, Egypt-Ethiopia, and the Egyptian Chinese business council. He is a member of the Egyptian Businessmen Association and the German Chamber of Commerce.