Egyptian real estate billionaire Hisham Talaat Moustafa added more than 90 million to his fortune after shares of his company, Talaat Moustafa Group TMG, rose on the Egyptian Exchange. TMG is one of Egypts largest listed property developers and its stock has attracted renewed buying interest even as investors weigh inflation and currency pressures.
Moustafas TMG stake gains 91 million
Moustafa, chairman of the Cairo-based group, owns about 43.5 percent of TMG, roughly 890.6 million shares. Over the past two weeks, the value of his holding climbed by around EGP4.32 billion 90.9 million, rising from EGP63.23 billion 1.33 billion on Nov. 24 to EGP67.55 billion 1.42 billion, according to stock market data tracked by Billionaires.Africa.
