Egyptian billionaire Hisham Talaat Moustafa , chairman of Talaat Moustafa Group TMG, has seen the market value of his stake in the real estate giant fall by more than 59 million after a recent pullback in the companys shares on the Egyptian Exchange EGX .
Moustafas TMG stake falls below 1 billion
Moustafa controls 43.5 percent of TMG, or roughly 890.6 million shares. In less than a month, the value of that stake slipped from EGP49.78 billion 1.03 billion to EGP46.93 billion 973.78 million, erasing about EGP2.85 billion 59.13 million.