Two families dominate Egypt rich list: Forbes

Ahram Online, Tuesday 4 Mar 2014

Forbes list of five wealthiest people in Egypt is populated by two families – Sawiris and Mansour – with a combined wealth of $17 billion

Nassef Sawiris, Mohamed Mansour and Naguib Sawiris
From left to right, Nassef Sawiris, Mohamed Mansour and Naguib Sawiris

Nassef Sawiris

Nassef Sawiris

Nassef Sawiris remains Egypt's richest person with a net worth of $6.7 billion, according to the 2014 Forbes list.

Sawiris runs Orascom Construction Industries (OCI), the Egyptian subsidiary of Dutch company OCI NV.

He is the 205th richest person in the world, dropping from 182nd last year. He is currently joint 3rd richest person in Africa alongside South Africa's Nicky Oppenheimer.

The 53-year-old's fortune has increased by $200 million since last year's Forbes list.

In March 2013, the tax authority accused OCI of tax evasion worth some LE14 billion ($2 billion) over the $12 billion sale of its subsidiary Orascom Building Materials Holding (OBMH) to cement giant Lafarge in 2007.

On Tuesday, OCI NV stated the public prosecutor had exonerated it of all tax evasion claims.

Mohamed Mansour

Mohamed Mansour

Mohamed Mansour is the second richest man in Egypt, 520th in the world and ninth in Africa with a net worth of $3.1 billion. He was third in 2013 behind Naguib and Nassef Sawiris. 

Mansour, 66, owns the Mansour Group holding company, a leading automotive, retailer and banking firm. He served as transport minister under president Hosni Mubarak from 2005 to 2009, and resigned following a devastating train crash that left 30 dead.

Naguib Sawiris

Naguib Sawiris

Naguib Sawiris fell one place to third on the list, despite his fortune growing to $2.8 billion from $2.5 billion in 2013.

The 59-year-old runs Orascom Telecom Media and Technology (OTMT) and sold nearly all his shares in Russian telecom giant VimpelCom, which had acquired his Orascom Telecom.

He is the 609th richest person in the world, and 11th in Africa.

Following the ouster of Islamist president Mohamed Morsi in July 2013, Sawiris said he and his billionaire brothers would be "investing in their homeland like never before."

Onsi Sawiris


Father of billionaires Naguib, Nassef and Sameh.

Onsi Sawiris is the fourth richest person in Egypt, according to Forbes, up one place from last year, with a net worth of $2.4 billion.Onsi, 84, is the founder of the above-mentioned OCI, which his son, Nassef, currently runs. He is 731st in the Forbes global list and is the 16th richest person in Africa. His fortune has risen by $0.4 billion since 2013.

Youssef Mansour

Youssef Mansour

Youssef Mansour, 68, gained one place to fifth in the Egyptian rich list, with a net worth of $2.3 billion.

Part-owner of conglomerate Mansour Group, he was responsible for building Metro, Egypt's largest supermarket chain. He is the 764th richest person in the world and the 15th richest in Africa. His net worth has increased by $0.35 billion since last year.

Youssef is the brother of Egypt's second richest person, Mohamed Mansour. 

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