Egyptian real estate billionaire Hisham Talaat Moustafa, chairman of Talaat Moustafa Group TMG, has seen the market value of his stake in the Cairo-based property developer surge above 1.3 billion, following a recent rally in share price on the Egyptian Exchange EGX.
Stock rally boosts billionaires fortune
Over the past two weeks, Moustafas stake in TMGamounting to about 43.5 percent, or roughly 890.57 million shareshas increased in value by EGP12.26 billion 259.26 million. His holdings rose from EGP50.25 billion 1.06 billion on Oct. 23 to EGP62.52 billion 1.32 billion, marking one of the sharpest gains among Egypts publicly traded tycoons this quarter.
