U.S.-Nigerian telecom executive Sam Darwish records $7.24 million decline on IHS stake

Key Points

• Sam Darwish’s stake in IHS Holding has dropped by $7.24 million in the past month,  amid a recent slide in the company’s share price on the NYSE.
• IHS reported a 5.24% year-on-year revenue increase in Q1 2025 to $439.6 million. However, shares remain down 8.96%, pushing the market cap below $2 billion.
• Despite the recent drop, IHS shares remain up nearly 95% in 2025, signaling continued investor belief in the firm’s long-term growth across emerging markets.

Sam Darwish, the U.S.-Nigerian telecom mogul and CEO of IHS Towers, has seen the value of his stake in the company drop below $80 million, following recent sell-offs that have dragged down the firm’s share price on the New York Stock Exchange (NYSE). The decline reflects ongoing investor caution and broader market volatility affecting emerging-market telecom stocks. 

Darwish holds a 3.9 percent stake in IHS Towers, equal to 12.92 million shares, underscoring his role in shaping Africa’s telecommunications infrastructure landscape. Over the past month, the market value of his holdings has plunged by $7.24 million, reducing earlier gains and highlighting the stock’s instability. 

This comes after a $7.75 million upswing between April 8 and May 7, when the value of his stake rose from $56.34 million to $64.09 million. The renewed pressure on IHS shares underscores investor concerns over governance, currency risks, and operational headwinds in key African markets.

Darwish’s IHS kicked off 2025 on a positive note

IHS Towers, founded by Darwish in 2001, is now the world’s third-largest independent telecom tower operator, managing over 39,000 towers across Africa, Latin America, and the Middle East. The company has ramped up its expansion efforts, adding 385 tenants, securing 1,566 lease amendments, and constructing 207 new towers, 136 of which are in Brazil.

IHS Towers posted revenue of $439.6 million for Q1 2025, marking a 5.24 percent year-on-year increase driven by strong organic growth, lease escalations, and new tenant additions. Despite the positive financial performance, investor sentiment remains subdued. 

IHS shares fall nearly 9% in one month

Over the past month, IHS Holdings’ share price has dropped 8.96 percent, falling from $6.25 on May 5 to $5.69 at the time of writing. The decline has pulled the company’s market capitalization down to roughly $1.9 billion, triggering notable losses for shareholders—including CEO Sam Darwish. 

As a result of the slump, Darwish’s stake in IHS has decreased by $7.24 million, dropping from $80.76 million on May 5 to $73.52 million. However, he remains a central figure in Africa’s telecom infrastructure space as IHS navigates an increasingly complex operating environment across its key markets.

Your money and your life

IHS Towers’ stock has had a strong run in 2025, climbing 95 percent so far this year. That means a $100,000 investment at the start of January would now be worth about $194,860—an impressive gain of nearly $95,000. The rally shows that investors are still betting on the company’s long-term potential, even as it faces some short-term market challenges.