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Meet Nassef Sawiris Of Egypt, The Second Richest Man In Africa After Dangote 

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Meet Nassef Sawiris of Egypt

The Sawiris family is the richest family in Egypt with huge investments and businesses in almost every economic sector in the country.

We all know Alhaji Aliko Dangote, the richest man in Nigeria and the whole of Africa, whose current value is estimated at $16.4 billion, according to Bloomberg.

He is succeeded by Nassef Sawiris, an Egyptian billionaire and business mogul who runs the most lucrative part of his family’s business empire. Nassef Sawiris is worth $8.5 billion, according to Forbes, and is currently the 297th richest man in the world.

Meet the Sawiris family

The Sawiris family is the richest family in Egypt with huge investments and businesses in almost every economic sector in the country. The patriarch of the Sawiris family is Onsi Sawiris. The 90-year-old business mogul started the business in 1950 and successfully passed it on to his two sons, Nassef and Naguib. Nassef is the youngest of the sons and also the richest.

Nassef Sawiris ($8.5bn) 

Nassef Sawiris owns and directs Orascom Construction, the construction arm of the Sawiris family business. He also has several personal investments and transactions outside of the family business. Here’s a quick look at his top business portfolios and investments according to Forbes.

  • He heads OCI, one of the world’s largest nitrogen fertilizer manufacturers, with factories in Texas and Iowa.
  • He heads Orascom Construction, one of the largest construction companies in Egypt.
  • He has a 5% stake in Adidas and sits on the company’s supervisory board. This is his largest and most lucrative investment, according to Forbes.
  • Nassef Sawiris has a major stake in the West African cement company, Lafarge Holcim.
  • His most recent acquisition is a 5% stake in New York-listed firm, Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams.

What you should know 

Nassef Sawiris and Aliko Dangote share similarities in the sense that they both enjoy immense support from the Egyptian and Nigerian governments respectively.

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