The first Arab in the long list of the World’s Richest People list, Egypt’s Nassef Sawiris, with a net worth of $7.4bn in 2023— his wealth dropped $300m less compared to 2022.
Algeria’s only billionaire, Issad Rebrab & family, remained the Arab’s second richest, with a net worth of $4.6bn in 2023, down $500m from 2022.
Egyptian businessmen earned a place in the list. In the long list of international billionaires and millionaires, Egypt has scored numerous times. Names like Sawiris, Sewedy, Mansour and Ghabbour first come to mind. But to determine who is the richest of them all and who follows, one needs to carefully evaluate the wealth of each.
In this report, DNE brings you Egypt’s 16 Richest Men and tells you a little more about them.
Getting rich requires a lot of hard work – so what did Egypt’s rich-list do to get to where they are today?
With a net worth of $7.4bn in 2023, according to Forbes Middle East (in 2011 it was $4.75bn), Nassef Sawiris runs Orascom Construction Industries, Egypt’s most valuable publicly-traded company, which was founded by father Onsi. The construction and fertiliser company’s shares fell almost one-third during the protests leading up to former president Hosni Mubarak’s resignation in February 2011. They later rallied to pre-revolution levels, but recently slipped again, due to the travel ban that was placed on Sawiris and his father.
Arab world’s 12th richest man, Mohamed Mansour (net worth $3.6bn in 2023 – $2.5bn in 2022) and his brothers 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). His brothers Yasseen and Youssef, who share ownership in the family group, are also billionaires; his son Loutfy heads private equity arm Man Capital.
With a net worth of $3.3bn (in 2011 it was $2.9 billion), Naguib Sawiris, the eldest son of Egyptian billionaire Onsi Sawiris, built Orascom Telecom. Sawiris is Arab world’s 9th richest man and also delved into Egyptian politics, forming the Free Egyptians Party in April 2011 to promote free markets and a secular platform.
With net worth of $2bn, Mohamed Fayed is the 1th on the list of Arab billionaires. Back in the 50s, he set up a The General Navigation Company (Genavco), which was later nationalised by Gamal 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 managed his finances in a way that was beneficial to the British economy. He was also granted the Medaille de Paris because he personally oversaw the renovation of France’s Hotel Ritz, spending about $1m per room. He bought it in1979. Fayed also turned Scottland’s Falls of Shin into a tourist attraction.
With a net worth of $1.5bn in 2023 ($1.55bn in 2011), Youssef Mansour, the older brother of Egyptian billionaire businessmen Mohamed and Yasseen, keeps a low profile. His assets, especially in publicly traded real estate development company Palm Hills Developments, took a hit with the Egyptian uprising early in 2011. Youssef is responsible for building Egypt’s largest supermarket 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
With a net worth of $1.3bn in 2023 ($1.55bn 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 corruption charges over the misappropriation of state land for Palm Hills Developments. Yasseen, his brothers and cousin, the former housing minister who was also accused, but cleared on Palm Hills, are the largest shareholders in the company—Egypt’s second-biggest real estate developer. Yasseen resigned as CEO, but remains chairman. The majority of his fortune is tied up in the family business; it is the largest seller of GM vehicles in the world.
With a net worth of $720m, Shafik Gabr is the richest known millionaire in Egypt. Gabr founded and built conglomerate ARTOC, a company with interests in steel fabrication and logistical services for oil and gas companies. Being a vivid art collector and with focus on Orientalist art, Gabr owns a foundation that promotes East-West dialogue through arts, science and business, aiming to reconstruct the relationship between governments on each side of the world.
With a net worth of $850m, Samih Sawiris is the chairman of board of directors of Orascom Development, which builds and operates resorts in Egypt, Montenegro, and Switzerland. Samih Sawiris is the youngest son of Egyptian construction magnate Onsi Sawiris.
With a net worth of $167.4m, Raouf Ghabbour is the chairman of the board of directors, CEO and founder of Ghabbour Auto.
With a net worth of $149m, Sadek Sewedy is the chairman of El Sewedy Industries Group, mainly active in the energy and lighting sector.
With a net worth of $149mn, Ahmed Sewedy is the CEO and Managing Director at El Sewedy electro-meter.
With a net worth of $136.7m, Soliman Abdel Mohsen is a shareholder in multiple companies, such as Citadel Capital, 6 October for Development and Investment and GB Auto.
With a net worth of $116.1m, Mohamed Farid Khamis is the founder of Oriental Weavers, Egypt’s leading textiles company.
With a net worth of $115.4m, Mohamed Ebeid ElMella is a shareholder in multiple companies, such as Unikai, United Foods, Dubai Insurance, Dubai Development and others.
With a net worth of $110.2m, Mohamed Sewedy is the Vice Chairman and Managing Director of El Sewedy Group.
