Whenever the subject of Nigeria’s richest man is mentioned, Aliko Dangote is the first name that comes to mind. The name Aliko Dangote is mentioned again and again when the question is asked about the richest person in Africa. ‘
Our research team and Bloomberg have estimated Aliko Dangote’s current net worth at $16.4 billion. But who is Africa’s second-richest individual? That’s a good question.
A metal worth $9.2 billion belongs to Nassef Sawiris, Africa’s second richest man, according to Forbes. My media Africa has a comprehensive profile of this billionaire businessman in today’s article, which includes everything you need to know about him.
|Real name||Nassef Onsi Sawiris|
|Date of birth||19 January 1961|
|Country of Origin||Egyptian|
|Source of Wealth||Businessman|
|Net worth||$9.2 Billion|
Nassef Sawiris is a billionaire Egyptian and the eldest son of Egypt’s richest family, the Sawiris clan. Orascom Construction, the construction arm of the Sawiris family business, is owned and operated by him. With an estimated fortune of $297 million, Forbes ranks him 297th in the world.
The wealthiest Egyptian dynasty is that of the Sawiris. The family owns a variety of businesses in different parts of the country. Onsi Sawiris, the family patriarch, reigns supreme in the Sawiris clan.
His sons and grandsons are all multibillionaires, including Nassef Sawiris, Samih Sawiris, and Naguib Sawiris. His name was Onsi Sawiris. He chose to follow a seemingly solitary path toward making his family’s name a household name of power and wealth.
It was in 1976 that he founded the Orascom General Contracting and Trade company, which was later renamed Orascom Building Industries.
In 1995, he handed over the reins of Orascom Construction Industries to his son, Nassef Sawiris, who assumed leadership of the company. On June 29, 2021, Onsi Sawiris, a visionary entrepreneur, passed away at the age of 73.
When Nassef Onsi Sawiris was born on January 19, 1961, he was just 19 years old.
His two other brothers, Samih Sawiris and Naguib Sawiris, are both multi-billionaires who work for the Sawiris family business in different capacities.
Kairo’s Deutsche Evangelische Oberschule (DEO) was where Nassef Sawiris received his secondary schooling. At the University of Chicago, he went on to complete his undergraduate studies, earning a bachelor’s degree in economics in 1982. To be ready to take over the family business, Nassef Sawiris chose to major in Economics in college. A member of Egypt’s Coptic Christian minority, the Sawiris Family is based in Cairo.
Nassef Sawiris Investment and Business Portfolios
When Nassef Sawiris finished high school in 1982, he joined the Orascom Group as an employee. Every step he’s taken since then has led to a new position in the business.
This dynamic and insightful businessman is Nassef Sawiris. He has a diverse portfolio of investments. For the past several years, he has held executive positions at Orascom Construction Industries, which has resulted in a substantial amount of wealth.
Here are Nassef Sawiris’s business holdings and investments, as reported by Forbes:
- His company, Orascom Construction Industries, is one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it is listed on the Euronext Amsterdam exchange.
- One of his most valuable assets is his stake in Adidas, which is valued at nearly 6%. New York-listed Madison Square Garden Sports, which owns the NBA Knicks and NHL Rangers teams, was purchased by him in December 2020.
- Orascom Construction, his engineering, and construction company trade on the Cairo exchange and the Nasdaq Dubai.
- He is a member of the board of directors of the Dubai NASDAQ. Dubai International Financial Exchange (DIFC) Director Nassef Sawiris.
- Lafarge Holcim, the world’s largest cement company, and Adidas are among his investments. He also serves on the board of Adidas’ supervisory committee.
- Aston Villa’s chairman and CEO.
- Vice-Chairman and Chief Executive Officer (CEO) of Avanti Acquisition Corp., which was formed to acquire and merge existing businesses to implement their business models.
- Nassef Sawiris is a member of several other organizations.
- At the University of Chicago, he serves on the university’s Board of Visitors.
- A member of the Global Board of Advisors of the Council on Foreign Relations (CFR).
- An international leader’s member at the Cleveland Clinic.
No matter how much money you have, it’s not easy to be the richest person in your country.
To run a successful business, many times one needs the help of the government.
His father, Nassef Sawiris, had no government assistance when starting his family business.
The Gamal Abdel Nassar Hussein-led government was particularly hostile to him during his time in office. For a time, the company’s growth was slowed down by this.
But the current government of Abdel Fattah Al-Sisi supports Nassef Sawiris.
Aliko Dangote’s relationship with the Nigerian government is strikingly similar to this. He has four children with his wife, Sherine. In addition to being a Muslim, Nassef Sawiris is a Copt.
Nassef Sawiris’ total number of properties is unknown. His primary residence is in New York City but, on the other hand, he lives and works in London. His mansions in London, Cairo, and New York City are rumored to be worth millions.
Co-op at 960 Fifth Avenue owned by Nassef Sawiris is one of the most expensive in New York City. For the penthouse apartment, Sawiris paid $70 million.