Naguib Sawiris Net Worth - A Look At The Egyptian Billionaire's Fortune
Naguib Sawiris is a prominent Egyptian businessman who has made his fortune in the telecommunications industry. With his success in business, Sawiris has become one of the wealthiest people in the world, Naguib Sawiris net worth is currently estimated in billions.
James K.Apr 10, 202362 Shares1642 Views
Naguib Sawiris is a prominent Egyptian businessman who has made his fortune in the telecommunications industry. He is the founder of Orascom Telecom Holding, which has operations in several countries in the Middle East, Africa, and Asia. With his success in business, Sawiris has become one of the wealthiest people in the world, Naguib Sawiris net worthis currently estimated in billions.
Naguib Sawiris was born on June 15, 1954, in Cairo, Egypt. He is the second of three sons of Onsi Sawiris, who founded the Orascom Group, a leading construction and engineering company in Egypt. Sawiris grew up in a family of successful entrepreneurs and was exposed to the business world from a young age.
Sawiris attended the German School in Cairo and later earned a degree in Mechanical Engineering from the Swiss Federal Institute of Technology in Zurich. He went on to obtain an MBA from INSEAD, a leading business school in France.
After completing his studies, Sawiris returned to Egypt and began working for his family's construction business. However, he soon saw an opportunity in the telecommunications industry and decided to pursue it.
Naguib Sawiris' career began in the family construction business, where he worked for several years after completing his studies. However, he soon realized the potential in the telecommunications industry and decided to start his own company.
In 1998, Sawiris founded Orascom Telecom Holding, which became one of the largest mobile network operators in the Middle East, Africa, and South Asia. The company's success led to the expansion of its operations to several countries, including Egypt, Algeria, Pakistan, and Bangladesh. Sawiris also founded Orascom Telecom Media and Technology Holding, which invested in various media and technology companies.
Apart from his involvement in the telecommunications industry, Sawiris has also invested in other businesses, including real estate development, cement production, and gold mining. He is a shareholder in LafargeHolcim, one of the largest cement producersin the world, and Adidas, the German sportswear company.
Conversation with Naguib Sawiris (Founder of Orascom Telecom Holding) | DLD12
Orascom Telecom Holding (OTH) is a telecommunications company founded by Naguib Sawiris in 1998. The company's primary business is to provide mobile phone services in emerging markets in the Middle East, Africa, and Asia. OTH has operations in several countries, including Egypt, Algeria, Tunisia, Pakistan, Bangladesh, North Korea, and Zimbabwe.
One of OTH's major achievements was launching the first mobile network in Egypt in 1998, under the brand name Mobinil. The company later expanded its operations to several other countries in the Middle East and Africa, including Algeria, Tunisia, and Zimbabwe. OTH's success in the telecommunications industry led to the expansion of its operations to other sectors, including media and technology.
In 2011, OTH was acquired by Russian telecoms giant VimpelCom, which later merged with Wind Telecom, a company owned by Sawiris. The merger created a new company, Global Telecom Holding (GTH), in which Sawiris held a significant stake. However, in 2017, Sawiris and his family sold their stake in GTH to VimpelCom.
Apart from Orascom Telecom Holding, Naguib Sawiris has been involved in several other business ventures in various industries, including:
Orascom Development Holding- Sawiris founded this company in 1996 to develop tourist destinations in Egypt, Switzerland, and Montenegro. The company also owns hotels, resorts, and golf courses.
La Mancha Resources- Sawiris is the founder and chairman of this Canadian mining company, which focuses on gold mining. La Mancha Resources has operations in several countries, including Sudan, Côte d'Ivoire, and Australia.
Cement Production- Sawiris is a shareholder in LafargeHolcim, one of the largest cement producers in the world. He has also invested in several cement plants in Egypt and Algeria.
Media and Technology- Sawiris founded Orascom Telecom Media and Technology (OTMT), which invests in various media and technology companies. The company has invested in several startups, including EFG Hermes, the largest investment bank in Egypt.
Agriculture- Sawiris has invested in agricultural projects in several African countries, including Sudan and Ethiopia. He has also invested in several food processing and distribution companies in Egypt.
Sawiris' business ventures have made him one of the wealthiest people in Egypt and the world. However, he is also known for his philanthropic work, particularly in education and healthcare, and his political activism in Egypt.
As of 2023, Naguib Sawiris' net worth is approximately $3.3 billion. The majority of his wealth comes from his involvement in the telecommunications industry, particularly from the success of Orascom Telecom Holding, which he founded in 1998.
Sawiris has also diversified his investments into several other sectors, including real estate, cement production, and gold mining. In addition, he has made investments in startups and technology companies through his Orascom Telecom Media and Technology (OTMT) investment firm.
Naguib Sawiris wearing a black suit while crossing his arms
Naguib Sawiris has invested in several real estate properties in various countries, including Egypt, Switzerland, Montenegro, and Greece. Some of his notable real estate properties include:
Lake Geneva Mansion- Sawiris owns a stunning mansion on the shore of Lake Geneva, Switzerland. The mansion, which he purchased in 2008, is estimated to be worth around $60 million.
Andermatt Swiss Alps- Sawiris invested in the development of the Andermatt Swiss Alps ski resort in Switzerland. The resort, which spans over 1.4 million square meters, includes luxury hotels, apartments, and chalets.
El Gouna- Sawiris developed the El Gouna resort town on the Red Sea coast in Egypt. The town includes several hotels, golf courses, and residential properties.
Porto Montenegro- Sawiris invested in the development of the Porto Montenegro marina in Montenegro. The marina includes luxury residences, hotels, and a yacht club.
Greece- Sawiris has invested in several properties in Greece, including a resort on the island of Spetses and a vineyard in the Peloponnese.
Sawiris' investments in real estate have not only been profitable but also have contributed to the development of several tourist destinations and resorts in various countries.
Naguib Sawiris is known for his philanthropic work and political activism in Egypt. He has established several foundations to support education and healthcare initiatives in the country, including the Sawiris Foundation for Social Development, which aims to improve the quality of life for Egyptians. The foundation has invested in several projects, including schools, hospitals, and community centers.
In addition to his philanthropic work, Sawiris has been a vocal critic of the Egyptian government and has been involved in several initiatives to promote democracy and human rights in the country.
He has spoken out against corruption and authoritarianism and has advocated for greater freedom of speech and political participation in Egypt.
Sawiris was also involved in the 2011 Egyptian revolution, which led to the ousting of President Hosni Mubarak. He was a vocal supporter of the revolution and used his media companies to broadcast newsand information about the protests.
Despite facing criticism and backlash from the government for his activism, Sawiris continues to use his influence and resources to promote positive change in Egypt. He has called for greater investment in education and healthcare and has advocated for the development of a more inclusive and democratic political system in the country.
Naguib Sawiris wearing a blue suit and black bow tie at the Elgouna Film Festival
Sawiris comes from a family of successful businessmen. His father, Onsi Sawiris, founded Orascom Group, a conglomerate that includes Orascom Construction, a major construction company in the Middle East and North Africa.
Sawiris studied engineering at ETH Zurich in Switzerland and graduated with a degree in mechanical engineering in 1982.
In 2011, Sawiris was listed as one of Time Magazine's 100 most influential people in the world.
Sawiris is an avid skier and has invested in several ski resorts, including Andermatt Swiss Alps in Switzerland and Kitzbuhel in Austria.
Sawiris is a member of the advisory board of the African Agricultural Capital Fund, which invests in agriculture and agribusiness in Africa.
Sawiris has three children and has said that he wants to pass on his entrepreneurial spirit to his children.
In 2015, Sawiris made headlines when he offered to buy an island to provide a new home for refugees fleeing the Syrian civil war.
Sawiris is a big supporter of Egyptian football and has been involved in several initiatives to support the sport in the country.
Sawiris is known for his sense of humor and has joked that his real passion in life is not business, but skiing.
Despite his immense wealth, Sawiris is known for his humility and philanthropic work, particularly in the fields of education and healthcare. He has established several foundations to support these causes in Egypt and beyond.
Naguib Sawiris net worth is a testament to his success as a businessman and entrepreneur. He has built a telecommunications empire that spans several countries, and his other business ventures have also contributed to his wealth.
Sawiris is known for his philanthropic efforts and political activism in Egypt, and his modest lifestyle reflects his focus on investing his money in his businesses and charitable endeavors. Despite his immense wealth, Sawiris continues to inspire others with his dedication to making a positive impact on the world.