A 5 rise in Elsewedy Electrics stock added over 80 million to Ahmed and Sadek El-Sewedys combined fortune in under three weeks.
The billionaire brothers now control a combined stake in Elsewedy Electric worth nearly 1.7 billion, reflecting steady investor confidence.
Founded in 1938, Elsewedy Electric plays a central role in Egypts infrastructure and energy sector amid regional manufacturing ambitions.
Egyptian billionaire brothers Ahmed and Sadek El-Sewedy have added more than 80 million to their combined fortune in under three weeks, following a rise in the share price of Elsewedy Electric. The jump in value not only boosts their standing among Egypts wealthiest individuals but also reflects growing investor confidence in the countrys industrial sector.
Their company, Elsewedy Electric , has deep roots. It began in 1938 when the El-Sewedy family launched a small electrical shop in Cairo. Over the decades, it steadily expanded from supplying wires and meters to becoming one of the Middle East and Africas most prominent engineering and infrastructure firms.
Today, with Ahmed serving as CEO and Sadek as non-executive chairman, the company plays a central role in Egypts industrial landscapeproviding everything from power cables and transformers to managing large-scale infrastructure and telecom projects across the region.
Brothers build quiet wealth in EgyptFrom June 19 to July 10, Elsewedy Electrics stock climbed from EGP73 1.47 to EGP76.66 1.54, a 5.01 percent increase that pushed the companys market capitalization past 3.2 billion. This lifted the value of both brothers' stakes in the business.
Ahmed, who holds a 25.52 percent stakeor 546,252,820 sharessaw his holdings grow from EGP39.88 billion 802.99 million to EGP41.88 billion 843.25 million, a gain of 40.26 million. Sadek, with a slightly larger 25.53 percent stake, saw his shareholding rise from EGP39.9 billion 803.36 million to EGP41.9 billion 843.63 million, adding 40.28 million.