Nassef Sawiris Net Worth
Nassef Onsi Sawiris is an Egyptian businessman and the youngest among Onsi Sawiris’ three sons.
As of 2024, his estimated net worth is US$3.3 billion, solidifying his position as one of the wealthiest and most influential individuals in Africa.
His financial success and influence contribute significantly to his prominent standing in the business and economic landscape of the continent.
Nassef Sawiris Information
Nassef Onsi Sawiris, born on January 19, 1961, is an accomplished Egyptian businessman and the youngest among Onsi Sawiris’ three sons, alongside Naguib and Samih.
As of October 2021, his considerable success places his net worth at an estimated US$8.7 billion, making him not only the wealthiest Egyptian but also the fourth richest individual in Africa.
Explore the remarkable achievements and wealth of Nassef Onsi Sawiris, a prominent figure in the business landscape.
Early life
Nassef Sawiris pursued his secondary education at the Deutsche Evangelische Oberschule Kairo.
Subsequently, he continued his academic journey at the University of Chicago, earning a bachelor’s degree in economics in 1982.
This educational background laid the foundation for his future endeavors in the business world.
Career
Nassef Sawiris’s career journey began in 1982 when he joined the Orascom group.
He took on a pivotal role overseeing the construction activities of Orascom Construction, especially after the transfer of management control from his father, Onsi Sawiris, in 1995.
Sawiris subsequently ascended to the position of CEO of Orascom Construction Industries in 1998.
His influence extended to the boardroom, serving on the board of Besix after OCI SAE acquired a 50% stake in the company in 2004.
Additionally, he played a significant role in the Cairo and Alexandria Stock Exchanges as a board director from 2004 to 2007.
Moreover, Sawiris contributed to the Dubai International Financial Exchange DIFX from July 2008 to June 2010.
In January 2013, he assumed the role of CEO of OCI NV after the company acquired the former parent company, OCI SAE.
His involvement in the corporate world expanded further when he became a board member of LafargeHolcim in 2015, having served on Lafarge SA’s board since 2008.
Sawiris’s diverse portfolio includes investments in global brands. In October 2015, he acquired a stake in Adidas AG through his investment company NNS Holding Sàrl Luxembourg.
His influence in the sports industry was solidified when he was appointed supervisory director of Adidas AG, based in Herzogenaurach, Germany, in 2016.
Venturing into the world of Special Purpose Acquisition Companies (SPACs), Sawiris founded Avanti Acquisition Corp in October 2020.
Despite it’s initial establishment, Avanti Acquisition was wound up in October 2022 after failing to acquire another company.
Sawiris’s career showcases a dynamic trajectory, marked by leadership in various industries and strategic investment decisions.
Sports ownership
Nassef Sawiris has made substantial investments in sports team ownership, particularly in association football.
In collaboration with billionaire Wes Edens, Sawiris is a co-owner of V Sports, a football club holding company.
V Sports boasts ownership of the Premier League team Aston Villa and holds a significant 46% stake in Primeira Liga team Vitória S.C.
The duo has also expressed interest in extending their influence to Major League Soccer, with discussions underway to establish a team in Las Vegas.
The name ‘Las Vegas Villains’ has been registered for potential use, indicating their strategic expansion into the American and European football markets.
As of March 2021, Sawiris has diversified his sports portfolio by acquiring a 6.3% stake in the American company MSG Sports.
This company possesses assets that include the NBA team New York Knicks and the NHL team New York Rangers.
Nassef Sawiris’s investments underscore his active involvement and strategic positioning in the dynamic and global sports industry.
Aston Villa
In July 2018, Nassef Sawiris, in collaboration with fellow billionaire Wes Edens, formed a consortium known as NSWE and acquired a controlling 55% stake in the English Championship club Aston Villa for £30 million.
The acquisition aimed to rescue the club from financial turmoil, including substantial cash flow issues and a potential winding-up order by HMRC due to an unpaid £4 million tax bill under the previous owner, Tony Xia. NSWE, post-takeover, injected significant funds to address these challenges.
Under NSWE’s ownership, Aston Villa underwent a transformative period marked by a substantial turnover of management and playing staff. Key appointments included former Liverpool executive Christian Purslow as CEO and Dean Smith as manager.
This strategic restructuring proved successful as the club achieved promotion back to the Premier League, including an impressive 10-game winning streak, marking Villa’s longest ever.
The consortium continued its commitment to Aston Villa by buying out the remaining shares from Tony Xia in August 2019, becoming sole owners.
This transaction involved absorbing an unpaid £30 million debt owed by Xia to the former owner, Randy Lerner.
Sawiris and Edens have ushered in an era of substantial investment in Aston Villa, injecting approximately £360 million of debt-free share capital as of August 2022.
Their vision for the club extends to ambitious plans for Villa Park, intending to expand its seating capacity from 42,682 to over 50,000.
The proposed project, costing over £100 million, includes the demolition of the North Stand and the creation of a major retail venue, with funding entirely provided by V Sports.
In 2021, the NSWE holding company rebranded to V Sports, signaling a broader vision.
This new identity reflects an intention to invest in other clubs globally through a multi-club model.
The ownership of Aston Villa by Nassef Sawiris and Wes Edens exemplifies a strategic and transformative approach, securing the club’s financial stability and future growth.
Vitória de Guimarães
In February 2023, V Sports, the sports investment entity led by Nassef Sawiris and Wes Edens, finalized an agreement to acquire a significant 46% stake in the Portuguese Primeira Liga team Vitória S.C., valued at €5 million.
As part of this strategic partnership, V Sports committed to furthering the team’s development by investing an additional €2 million in sporting infrastructure over the next two years.
Additionally, a credit line of up to €20 million was extended to support Vitória S.C.’s financial initiatives.
This substantial agreement received formal approval from Vitória’s members on March 4, 2023, solidifying V Sports’ commitment to enhancing the club’s performance and infrastructure within the Portuguese football landscape.
The collaboration between V Sports and Vitória S.C. signifies a strategic move to strengthen the club both on and off the field, marking another milestone in V Sports’ global sports investments.
Personal life
Nassef Sawiris is married to Sherine, and together they have four children. Their primary residence is in Cairo, reflecting his strong ties to Egypt.
Additionally, Sawiris maintains a residence in New York City, showcasing his global presence and diverse lifestyle.
It is noteworthy that Nassef Sawiris identifies as a Coptic Christian, underlining the rich cultural and religious diversity in his personal identity.
His family life and residences reflect a balance between his Egyptian roots and global engagements.
Other activities
Nassef Sawiris is actively involved in various organizations and institutions beyond his business ventures. Some of his notable activities include:
– University of Chicago:
– Member of the Board of Trustees since 2013, showcasing his commitment to higher education and institutional development.
– Council on Foreign Relations (CFR):
– Member of the Global Board of Advisors, highlighting his engagement in international affairs and contributing to discussions on global issues.
– Cleveland Clinic:
– Member of the International Leadership Board, demonstrating his participation in healthcare leadership and supporting initiatives in the medical field.
These engagements underscore Sawiris’s broader commitment to education, global diplomacy, and healthcare, showcasing his dedication to making a positive impact beyond his business endeavors.
Nassef Sawiris Facts
– Youngest son of Onsi Sawiris, part of a prominent Egyptian business family.
– Net worth estimated at US$8.7 billion as of 2024.
– Actively involved in the Orascom group since 1982.
– Oversaw Orascom Construction activities and became CEO of Orascom Construction Industries in 1998.
– Served on the board of Besix after OCI SAE’s stake acquisition in 2004.
– Board director at the Cairo and Alexandria Stock Exchanges from 2004 to 2007.
– Contributed to the Dubai International Financial Exchange DIFX from 2008 to 2010.
– Became CEO of OCI NV in January 2013.
– Elected as a board member of LafargeHolcim in 2015.
– Acquired a stake in Adidas AG in 2015 through NNS Holding Sàrl Luxembourg.
– Appointed supervisory director of Adidas AG in 2016.
– Co-owns V Sports with Wes Edens, holding Aston Villa and a stake in Vitória S.C.
– Invested in MSG Sports, holding assets like New York Knicks and New York Rangers.
– Actively involved in philanthropy through the Sawiris Foundation.
– Supports education, healthcare, and community development initiatives.
– Founded Avanti Acquisition Corp, a Special-purpose acquisition company, in October 2020.
– Engaged in diverse global ventures, showcasing a dynamic and expansive business portfolio.
– Married to Sherine with four children.
– Resides in Cairo with an additional residence in New York City.
– Identifies as a Coptic Christian.
– Member of the University of Chicago Board of Trustees since 2013.
– Member of the Council on Foreign Relations (CFR) Global Board of Advisors.
– Member of the International Leadership Board at the Cleveland Clinic.
These facts encapsulate the diverse and influential aspects of Nassef Sawiris’s life, from his business ventures and investments to philanthropy, sports team ownership, and institutional engagements.
