Egyptian billionaire Mohamed Mansour, the countrys third-richest individual, has seen his net worth rise to 3.4 billion, reinforcing his position among Africas wealthiest business leaders. Forbes reports that Mansours fortune has grown by 100 million since the start of the year, up from 3.3 billion on Jan. 1. The increase places him as the 1,183rd richest person in the world.
Family business powers Mansours fortune
Most of Mansours wealth comes from the Mansour Group, the family-owned conglomerate he leads. The group, now valued at 6 billion, holds exclusive rights to distribute Caterpillar equipment in Egypt and seven other African countries, giving it a strong foothold in the heavy machinery and construction industries.