Naguib Sawiris, Egypt’s second-richest man, is $469 million richer this year

Key Points

• Naguib Sawiris’ net worth has risen by $469 million this year, reaching $7.35 billion, according to the Bloomberg Billionaires Index.
• Sawiris’ holdings in real estate, telecom, and mining, alongside $6.33 billion in cash reserves, have fueled his financial gains.
• His stake in Endeavour Mining dropped to $722 million, while Evolution Mining rose to $235 million; he also holds Orascom stakes.

Like his younger brother, Nassef Sawiris, who has seen his wealth grow significantly this year, Naguib Sawiris—Egypt’s second-richest individual—has also added to his fortune. Since the start of the year, his net worth has risen by $469 million, pushing it past the $7 billion mark.

According to the Bloomberg Billionaires Index, Sawiris’ wealth has climbed from $6.98 billion on Jan. 1 to $7.35 billion as of this report. This follows a $500 million gain in 2024 when his fortune increased from $6.48 billion to $6.98 billion.

With his current net worth, he ranks 427th among the world’s richest individuals, ahead of Gary Rollins, the former chairman and CEO of pest control giant Rollins Inc. He remains Egypt’s second-richest man, trailing only Nassef, whose fortune stands at $9.13 billion.

Sawiris’ fortune climbs with diversified holdings

Sawiris cemented his place among the world’s wealthiest in 2010 when he struck a major deal, selling most of his telecommunications assets—including Italy’s Wind Telecomunicazioni and 51 percent of Cairo-based Orascom Telecom Holding—for $1.5 billion and a 20 percent stake in Vimpelcom. The transaction alone earned him $300 million, and between 2011 and 2012, he raised more than $4 billion by selling his Vimpelcom shares.

More recently, his wealth growth has been driven by diversified investments across real estate, telecommunications, and mining. A significant portion of his fortune—$6.33 billion, up from $6.25 billion on Feb. 10—is held in cash reserves, which have already been revalued twice this year, just as they were in 2024.

Sawiris’ mining, construction holdings change

Beyond his cash holdings, Sawiris has remained active in the mining sector through La Mancha Resources, his private investment firm, and his stakes in two publicly traded gold mining companies: Endeavour Mining and Evolution Mining.

His stake in Endeavour Mining, a London-listed gold producer, is valued at $722 million, down from $744 million on Feb. 10, while his position in Evolution Mining, an Australian company with operations in Australia and Canada, has risen to $235 million from $220 million. 

He also holds a $34.6 million stake in Orascom Construction and a $20.6 million stake in Orascom Investment Holding.