Naguib Sawiris Net Worth
As of 2021, Naguib Sawiris held the distinction of being the 8th richest person in Africa, as per Forbes magazine’s rankings, amassing a notable personal wealth of $3.2 billion.
Beyond his financial achievements, Sawiris is proudly known for his affiliation with the Coptic Christian faith, adding a distinctive aspect to his influential standing in both business and personal spheres.
As of 2024, Naguib Sawiris continues to be recognized as one of the wealthiest individuals in Africa, maintaining a substantial personal wealth of $3.3 billion.
His financial standing underscores his enduring impact and success in the business world.
Naguib Sawiris Information
Naguib Onsi Sawiris, born on June 15, 1954, is an Egyptian businessman with a notable presence in the corporate world.
Currently serving as the chairman of Weather Investments’s parent company, Sawiris has held key leadership roles, having been the former chairman and CEO of Orascom Telecom Holding and Orascom Investment Holding S.A.E.
Delve into the diverse business journey of Naguib Onsi Sawiris, a prominent figure in the Egyptian business landscape.
Early life
Born on June 15, 1954, in Cairo, Egypt, Naguib Onsi Sawiris is the eldest son of businessman Onsi Sawiris, the founder of the Orascom Group, and Yousriya Loza Sawiris.
Hailing from a family deeply rooted in business, Naguib has two younger billionaire brothers, Nassef and Samih.
This trio of successful siblings represents a significant business legacy, with Naguib playing a pivotal role in the family’s entrepreneurial journey.
Education
Naguib Sawiris attained his education from the German Evangelical School in Giza, earning a Diploma.
Furthering his academic pursuits, he obtained a Diploma in Mechanical Engineering along with a Master’s degree in Technical Administration from ETH Zurich.
This educational background laid the foundation for his future endeavors in the field of engineering and administration.
Career
Since joining Orascom in 1979, Naguib Sawiris has played a crucial role in shaping the company into one of Egypt’s largest and most diversified conglomerates, serving as the country’s largest private sector employer.
His contributions have been particularly significant in expanding the company’s presence in various sectors, including railways, information technology, and telecommunications.
In the late 90s, Orascom underwent a strategic restructuring, leading to the creation of separate operating entities such as Orascom Telecom Holding (OTH), Orascom Construction Industries (OCI), Orascom Hotels & Development, and Orascom Technology Systems (OTS).
Notably, Orascom Telecom Holding, established in 1997, later evolved into Orascom Investment Holding S.A.E. (OIH), with Naguib Sawiris assuming the role of Managing Director and CEO.
In August 2012, Sawiris took on the position of chairman at La Mancha Holding.
In 2014, he made headlines by raising over US$4 billion through the sale of his stake in telecommunications companies to the Russian company Vimplecom.
Venturing into the media industry, Sawiris acquired a majority stake in the pan-European television channel Euronews in early 2015.
His involvement continued until December 2021 when he began the process of selling his stake to Alpac Capital.
Demonstrating a commitment to humanitarian causes, Sawiris made headlines in September 2015 when he expressed interest in purchasing an island off Greece or Italy to assist refugees fleeing the Syrian conflict, acknowledging potential challenges related to jurisdictions and customs regulations.
In December 2016, Sawiris resigned as the CEO of Orascom Telecom Media & Technology. Subsequently, he launched Ora Developers (formerly Gemini Global Development) in 2016.
Ora Developers owns a $2.5 billion global real estate portfolio, featuring projects like the Silver Sands mixed-use project in Grenada, Ayia Napa Marina in Cyprus, and the Eighteen luxury residential project in Islamabad, Pakistan.
In 2023, reports surfaced about Sawiris considering an investment in Barrick Gold Corp.’s $7 billion Reko Diq copper-gold project in Pakistan, adding another dimension to his diverse business portfolio.
Personal life
Naguib Sawiris, a family man, is married and the proud father of four children. Residing in Cairo, he is multilingual, fluent in Arabic, English, German, and French.
As of 2021, Forbes recognized him as the 8th richest person in Africa, boasting a personal wealth of $3.2 billion.
Sawiris follows the Coptic Christian faith, a significant aspect of his identity. In May 2022, he celebrated a joyous family event as his son, Onsi, got married in one of Cairo’s prominent churches.
The grand reception took place in a spectacular event beneath the iconic pyramids, marking a memorable occasion for the Sawiris family.
Naguib Sawiris Facts
– Naguib Onsi Sawiris, born on June 15, 1954, is a prominent Egyptian businessman and the chairman of Weather Investments’s parent company.
– Naguib is the eldest son of Onsi Sawiris, the founder of the Orascom Group, and Yousriya Loza Sawiris.
– Comes from a family deeply rooted in business with two younger billionaire brothers, Nassef and Samih.
– Attained education from the German Evangelical School in Giza.
– Holds a Diploma in Mechanical Engineering and a Master’s degree in Technical Administration from ETH Zurich.
– Joined Orascom in 1979 and significantly contributed to its growth and diversification.
– Played a crucial role in expanding Orascom into one of Egypt’s largest conglomerates.
– In the late ’90s, orchestrated a strategic restructuring leading to the creation of separate operating entities, including Orascom Telecom Holding (OTH), Orascom Construction Industries (OCI), and others.
– Orascom Telecom Holding evolved into Orascom Investment Holding S.A.E. (OIH), with Sawiris as Managing Director and CEO.
– Appointed chairman of La Mancha Holding in August 2012.
– Raised over US$4 billion through the sale of his stake in telecommunications companies to Vimplecom in 2014.
– Acquired a majority stake in Euronews in 2015, later initiating the process of selling his stake to Alpac Capital in 2021.
– Expressed interest in purchasing an island off Greece or Italy in 2015 to assist refugees fleeing the Syrian conflict.
– Ventured into media with the acquisition of Euronews and later involvement in Ora Developers.
– Ora Developers owns a $2.5 billion global real estate portfolio with projects in Grenada, Cyprus, and Pakistan.
– Family man, married, and father of four children.
– Resides in Cairo and is fluent in Arabic, English, German, and French.
– Forbes recognized him as the 8th richest person in Africa in 2021, with a personal wealth of $3.2 billion.
– Sawiris identifies with the Coptic Christian faith, adding a cultural and religious dimension to his persona.
– Celebrated his son Onsi’s wedding in May 2022 in one of Cairo’s prominent churches, followed by a grand reception beneath the iconic pyramids.
