Egypt_'s 15 Richest Men 2014

Egypt’s

RichestMen

“Early to bed, early to rise, keeps you healthy, wealthy

and wise.”- Benjamin Franklin

There seems to be 15 men in Egypt who follow for-mer American President Benjamin Franklin’s quote.

Like every year, prominent business magazine Forbes released its list on the world’s richest men 2014 - and as usual, Microsoft Founder Bill Gates and Mexican Telecom-Giant Carlos Slim Helu are wres-tling for first place. According to Forbes, 74-year-old Helu – or better known as “Slim” – has an esti-mated wealth of $79.8 billion, whereas Gates is at $79.3 billion.

The first Arab in the long list of the World’s Richest People list comes at place 30, with no other than Prince Alwaleed Bin Talal Alsaud from Saudi Arabia. With a net worth of $21.4 billion, the investor bare-ly owns a third of Gates’ fortune.

The second Arab is Mohammed Al Amoudi, also known as one of Saudi Arabia’s “oil sheikhs”. Although he comes at place 74 with a wealth of $14.4 billion. This year, he is no longer richer than Mark Zuck-erberg, founder and owner of infamous most used

website worldwide – Facebook.

Yet, it is not until further down

that Egyp-t i a n

businessmen earned a place in the list. In the long list of international billionaires and millionaires, Egypt has scored several times. Names like Sawiris, Sewedy, Mansour and Ghabbour come to mind at first thought. But to determine who is the richest of them all and who follows Franklin’s rule, one needs to carefully evaluate the wealth of each.

In this report, Egypt Business Directory brings you Egypt’s 15 Richest Men in 2014 and tells you about the most dominant families in the country - in terms of wealth of course.

The richestEgyptians in

$152.19 mln

$164.39 mln

$178.19 mln

$205.15 mln

$233.06 mln

$240.85 mln

$240.85 mln

$1.3 bln

$1.8 bln

$1.9 bln

$2.3 bln

$2.4 bln

$2.8 bln

$3.1 bln

$6.7 bln

Suleiman Abdul Mohsin

AbdulRahman Hassan Sharbatly

Mohamed Sewedy

Mohamed Khames

Raouf Ghabbour

Sadek Sewedy

Ahmed Sewedy

Samih Sawiris

Yasseen Mansour

Mohamed Fayed

Youssef Mansour

Onsi Sawiris

Naguib Sawiris

Mohamed Mansour

Nassef Sawiris

2014 are...

Who are they?What do they do?

Find out more about the backgrounds of Egypt’s richest men.

With a net worth of $6.7 billion (in 2011 it was $4.75 billion, and in 2013 it stood

at $6.6 billion), Nassef Sawiris runs Orascom Construction Industries, Egypt’s most valuable publicly-traded company, which was founded by father Onsi. The construction and fertilizer company’s shares fell almost one-third dur-ing the protests leading up to Egyptian Presi-dent Hosni Mubarak’s resignation in February 2011. Sawiris also owns big stakes in cement giant Lafarge, and Texas Industries. Recently, Prime Minister Ibrahim Mehleb met Sawiris to seek a settlement to the tax dispute between Sawiris and the Tax Authority. The former was sentenced to three years in prison and was fined EGP50 million. On the 28th of July 2014, Sawiris was the second biggest “winner” in the world, gaining over $650 million in one day, most likely due to a surge in Lafarges’s Q2

net profit. His brothers Samih and Na-guib are also two of Egypt’s

richest men.

Nassef Sawiris1

Total Wealth:

$6.7 bln

Age: 53Children: 4

Rank in the Arab World: 4Global Rank: 224

Sector: Construction

Mohamed Mansour (net worth $3.2 billion in 2014 - $1.7 billion in 2011) and his broth-

ers are the biggest sellers of GM vehicles in the world. Strong sales in their Caterpillar business throughout Africa, Russia and Iraq are making up for a slump in Egypt. Other interests include the largest supermarket chain in Egypt (Metro), and the Philip Morris franchise. In July 2014, Electronic Cigarettes International Group re-ceived a Strategic Equity Investment from the Mansour Group of up to $60 Million.

Mohamed Mansour2

Total Wealth:

$3.2 bln

Age: 66Children: 2


Sector: Diversified

With a net worth of $2.8 billion (in 2011 it was $2.9 billion - in 2013 $2.5 billion),

Naguib Sawiris, the eldest son of Egyptian billionaire Onsi Sawiris, built Orascom Tel-ecom, then sold the family’s stake to Russian and emerging market telecom giant Vimpel-Com in April 2013 for $6.5 billion in shares and cash, becoming one of VimpelCom’s larg-est shareholders in the process. Recently he also to acquired a 20 per cent stake in EFG-Hermes, which failed however, since sharehold-ers offered less than half the shares sought.

NaguibSawiris3

Total Wealth:

$2.8 bln

Age: 60Children: 4

Rank in the Arab World: 13Global Rank: 633Sector: Telecom

With a net worth of 2 billion ($2.6 billion in 2011), Onsi Sawiris is the patriarch of

Egypt’s wealthiest family. The Egyptian govern-ment nationalized his first construction busi-ness in 1971. Undeterred, he rebuilt what be-came Orascom Construction Industries. His son Nassef took over in 1995. Another son, Naguib, built a separate telecom company, while son Samih went into hotels and real estate. Onsi Sawiris now owns shares in Russian mobile op-erator VimpelCom, following its acquisition of the family stake in Orascom Telecom in 2011.

OnsiSawiris4

Total Wealth:

$2.4 bln

Age: 84Children: 3


Sector: Construction, Telecom

With a net worth of $2.3 billion ($1.55 billion in 2011 - $1.95 billion in 2013), Youssef

Mansour keeps a low profile. He owns assets, in publicly traded real estate development company Palm Hills Developments. Youssef is responsible for building Egypt’s largest super-market chain, Metro, but now devotes time to the family foundation which targets illiteracy and education. The bulk of his fortune comes from the family’s business as the largest seller of GM vehicles in the world, and strong sales of Caterpillar machines.

YoussefMansour5

Total Wealth:

$2.3 bln

Age: 69Children: 5

Rank in the Arab World: 21Global Rank: NA

Sector: Diversified

With net worth of $1.9 billion, Mohamed Fayed stands at rank 5. Back in the 50s,

he set up a The General Navigation Company (Genavco), which was later nationalized by Ga-mal Abdel Nasser. Serving as the Chairman of Harrods in London for over 25 years, Fayed also bought British football team Fulham Football Club and even dined with Iron Woman Margret Thatcher at 10 Downing Street because he man-aged his finances in a way that was beneficial to the British economy. He bought France’s hotel Ritz in 1979.

MohamedElFayed6

Total Wealth:

$1.9 bln

Age: 85Children: 5


Sector: Retail, Investments

With a net worth of $1.8 billion ($1.55 billion in 2011), Yasseen Mansour, the youngest

of Egypt’s three Mansour brothers, was put on the Interpol list on fraud charges in 2011, but was removed after being cleared of corrup-tion charges over the misappropriation of state land for Palm Hills Developments. Yasseen, his brothers and cousin are the largest sharehold-ers in the company. He started his career at Mansour Automotive Company in 1986, and has since successfully lead and managed several companies in various sectors.

YasseenMansour7

Total Wealth:

$1.8 bln

Age: 52Children: 4


Sector: Diversified

Samih Sawiris8

Total Wealth: $1.3 bln

Age: 57Rank in the Arab World: 35

Global Rank: 1,524Sector: Real Estate, Tourism

Ahmed ElSewedy9

Total Wealth: $240.85 mln

Age: NARank in the Arab World: 75

Global Rank: NASector: Electric

Samih Sawiris is the Chairman of Orascom Development Holding, which mainly serves in the Tourism Sector . He also developed a low income housing project in 6th of October City and is a member of the Sawiris Foundation.

Ahmed ElSewedy is the Chief Executive Officer and Manag-ing Director at El Sewedy Electro-meter Egypt.Graduated from Cairo University, he joined the family business which was founded in 1938.

Sadek ElSewedy10

Total Wealth: $240.85 mln


Global Rank: NASector: Electric

Sadek ElSewedy is the Chairman at Elsewedy Electric Com-pany. He owns 23.33% of the company’s shares and had also served on the board at Arabia Investments Development Fi-nancial Investments Holding.

Raouf Ghabbour11


Global Rank: NASector: Automobiles

Total Wealth:$233.06 mln

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

MohamedKhames12




Mohamed Farid Khames is the founder of Oriental Weavers, one of the biggest carpet manufacturers in the world which was established in 1980. He holds 41.81% of its shares.

MohamedElSewedy13




Mohamed ElSewedy is the sousin of Sadik ElSewedy and owns 17.26% of the family business ElSewedy Electric.The company also constructs and runs plants in the electrical manufacturing sector.

AbdulRahmanSharbatly14Age: NA

Rank in the Arab World: 91 Global Rank: NA

Sector: AutomobilesTotal Wealth:$164.39 mln

AbdulRahman Hassan Sharbatly is the Deputy Chairman of Golden Pyramids Plaza, Chairman of AlNahla Group and serves on the boards of Riyad Bank and Al Sagr Cooperative Insurance Company.

SuleimanAbdul Mohsin15




Suleiman Abdul Mohsen holds stakes in Citadel Capital, Sixth of October Development & Invest-ment Co. , Belton Financial Holding and GB Auto.

The FamiliesWhen going through the list of Egypt’s richest men, two family-names tend to stand out: Sawiris and Mansour.

Here is a bit more about both tycoon-families, that enjoy a remarkable amount of wealth.

Sawiris

The Father: Onsi SawirisBorn 1930 - also named “The Patriarch”

Son of a lawyer in southern EgyptFounded Orascom Conglomerate in 1950

Prevented from leaving the country for six years in the 1960s

The Eldest Son: Naguib Sawiris

Born 1954Educated in Zurich

Joined Orascom in 1979In charge of Orascom

Telecom HoldingFounded the Free

Egyptians Party in 2011Chairman of Weather Investments II S.à r.l

The Youngest Son: Nassif Sawiris

Born 1961Educated in Chicago

Joined Orascom in 1990In charge of Orascom

Construction IndustriesDirector at LafargeDirector of BESIX

Holds 1,671 Lafarge shares

The Middle Son: Samih Sawiris

Born 1957Educated in Berlin

Joined Orascom in 1996In charge of Orascom Development HoldingHolds Montenegron

citizenshipHas stakes in Swiss

football club FC Luzern

Total Wealth:

$13.2 bln

Main Business:Orascom

Mansour

The Father: Loutfy MansourBorn 1909 - Died 1976

Had four sons and one daughterStarted out with cotton trading, moved on to Agent of GM1955: Cotton company was nationalized, gov’t took assets

The Eldest Son: Youssef Mansour

Born 1945Educated in the US

Studied Textile Technology and Textile

ChemistryFounding Member of the American

Chamber of Commerce in Egypt

The Middle Son: Mohamed Mansour

Born 1948Educated in the USFormer Minister of

TransportResigned from minis-terial post after train

crashLecturer at Auburn

University (till 1973)

The Youngest Son: Yasseen Mansour

Born 1962Educated in the US

Founder of Palm Hills Development in 2005Founder of Manfood

Faced corruption charges in 2011

Board member of National Cancer Inst.

Total Wealth:

$7.2 bln

Main Business:Mansour Group

Distributors of: Chevrolet Marlboro General Motors Caterpillar

Other businesses:Metro McDonald’s

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Egypt_'s 15 Richest Men 2014

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