Ghabbour family, among Egypt’s richest, loses $17 million on GB Corp shares

Key Points

• The Ghabbour family’s controlling stake in GB Corp. has lost $17.24 million in value over the past 21 days.
• GB Corp.’s market capitalization has slipped under $470 million, reversing gains made in April and highlighting ongoing volatility in Egypt’s automotive sector.
• Despite the short-term loss, GB Corp. remains one of the EGX’s top performers in 2025, with shares up nearly 25% year-to-date.

The Ghabbour family, one of Egypt’s wealthiest, has suffered a sharp setback, with the market value of their controlling 63.4-percent stake in GB Corp. falling by more than $17 million, following a notable decline in the company’s share price on the Egyptian Exchange (EGX).

Holding 688.2 million shares, the family has seen the value of their stake drop by EGP860.26 million ($17.24 million) over the past 21 days. This recent downturn has erased the gains made between April 9 and May 4, when their holdings surged by $23.48 million during a brief market rally.

Market cap drops below $470 million

Founded in 1985 by the late Egyptian auto magnate Raouf Ghabbour, GB Corp. has grown into one of the Middle East and North Africa’s leading automotive companies. The Cairo-based automaker is still largely steered by the Ghabbour family, who remain deeply involved in shaping its future.

Over the past 21 days, shares of GB Corp. on the EGX have fallen by 5.52 percent, declining from EGP22.65 ($0.4539) on May 4 to EGP21.40 ($0.4289). This pullback has pushed the company’s market capitalization below $470 million, dealing a blow to shareholders, particularly the Ghabbour family. 

As a result of this decline, the market value of the Ghabbour family’s 63.4-percent stake has dropped by EGP860.26 million ($17.24 million), falling from EGP15.59 billion ($312.39 million) to EGP14.73 billion ($295.15 million). Despite the recent dip, the family remains one of the richest in Egypt.

Stock up nearly 25 percent in 2025

Year-to-date, GB Corp. has stood out as one of the top performers on the Egyptian Exchange (EGX), delivering a 24.93 percent return to investors—translating to strong overall returns for long-term investors. A $100,000 investment in the company’s shares at the start of 2025 would now be worth approximately $124,930—reflecting a gain of $24,930.