Forbes list Egypt's top 6 billionaires
Members of the Egyptian Sawiris and Mansour families are among the richest people in the world, according to Forbes
Ahram Online, Tuesday 5 Mar 2013
Six Egyptian businessmen rank amongst the world's richest people, according to the 2013 Forbes billionaire rankings.
The six own and run companies in the construction, automotive, communications and media sectors, and most have seen their fortunes grow despite the ongoing turmoil that the country is witnessing. They hail from just two families.
1. Nassef Sawiris: $6.5 billion net worth
Nassef Sawiris runs Orascom Construction Industries (OCI), Egypt's largest publicly-traded company. He ranks 182th richest in the world and is the 4th richest man in Africa. His net worth increased by $1 billion since last year's Forbes ratings.
He was banned from travel on Sunday following charges that OCI had failed to pay taxes worth some LE14 billion (roughly $2 billion) on its sale to Lafarge. Nassef likes to keep a low profile and rarely appears in the media. Unlike his older brother Naguib, he prefers to keep his political opinions to himself.
2. Naguib Sawiris: $2.5 billion net worth
Aged 58, Naguib Sawiris runs Orascom Telecom Media and Technology (OTMT) and recently sold nearly all his shares in Russian telecom giant VimpelCom, which had acquired Sawiris's Orascom Telecom.
He ranks as 589th richest person worldwide, and the 9th richest in Africa. His net worth dropped by $0.6 billion since last year's Forbes ratings. At the wake of the Egyptian uprising in 2011, he got involved in politics, establishing the Free Egyptians Party and attracting criticism from his political foes.
3. Mohamed Mansour: $2.2 billion net worth
Mohamed Mansour owns the Mansour Group holding company, a leading automotive, retailer and banking company. Mansour owns supermarket chain Metro, which recently received an offer from Emirati billionaire Majid Al-Futtaim for up to $300 million.
He is the 670th richest man worldwide and the 10th richest in Africa. His net worth has dropped by $0.5 billion since last year's Forbes ratings. He served as minister of transportation under President Hosni Mubarak from 2005 to 2009, and resigned following a devastating train crash that left 30 dead.
4/5. Yassen Mansour and Onsi Sawiris: $2 billion net worth each
Yassen Mansour is a major shareholder of in giant real estate company Palm Hills Development and is currently its chairman. He was recently accused of misappropriating state land to the company, but was acquitted. He ranks 736th richest worldwide and is the 13th richest man in Africa.
His net worth surged by $0.4 billion since last year's ratings.
Onsi Sawiris is the founder of Orascom Construction Industries (OCI) which his son, Nassef, currently runs. OCI is the largest publicly-traded company in Egypt. He comes 736th in the Forbes global rankings and is the 11th richest person in Africa. His net worth dropped by $0.9 billion since last year's ratings.
6. Youssef Mansour: $1.95 billion net worth
Part-owner of Egyptian conglomerate Mansour Group, he was responsible for building Egypt's largest supermarket chain, Metro. He ranks 758th richest worldwide and is the 14th richest man in Africa. His net worth has increased by $0.45 billion since last year.