Egypt's Second-richest Man, Naguib Sawiris, Is 2 Billion Richer This Year

Naguib Sawiris net worth surged to 8.98 billion this year, driven by gains in private holdings across telecom, mining, and real estate.

In July, Sawiris invested 100 million in Moroccos BluEV to accelerate the shift to electric two- and three-wheelers in North Africa.

Sawiris is developing major projects in Iraq and the UAE, including a 120,000-home smart city and a 4.8 million sqm coastal community.

Billionaire businessman Naguib Sawiris, Egypts second-richest individual, has added more than 2 billion to his net worth since the beginning of the year, fueled by the rising value of his private investments across telecommunications, mining, technology, and real estate.

According to the Bloomberg Billionaires Index , which tracks the wealth of the worlds 500 richest people, Sawiris fortune has grown from 6.88 billion on Jan. 1 to nearly 9 billion 8.98 billion as of early August.

The 2.09 billion gain places him firmly among Africas top ten wealthiest individuals. This sharp rise in his fortune builds on an earlier 400 million increase recorded in 2024 , when his wealth climbed from 6.48 billion to 6.88 billion. The consistent gains are largely tied to the performance of his private holdings, which continue to grow in value across multiple sectors.

Naguib Sawiris has long been a familiar name in global business circles. In 2010, he made headlines by selling key telecommunications assetsincluding Italys Wind Telecomunicazioni and 51 percent of Egypts Orascom Telecom Holdingfor 1.5 billion and a 20 percent stake in Vimpelcom.

That deal alone brought in 300 million, and by 2012 he had raised more than 4 billion through additional share sales. These early moves laid the groundwork for the diversified portfolio he now manages.