naguib sawiris son

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1. NAGUIB SAWIRIS. Forbes list reports that his brother Nassef is also a billionaire. Naguib Sawiris is a scion of Egypt's wealthiest family. Naguib Sawiris . His oil exploration outfit, Conoil Producing, operates 6 oil blocks in the Niger Delta. His brother Nassef is also a billionaire. 2. Sawiris is an investor and a scion of Egypt’s wealthiest family. While brothers Nassef and Samih took over the construction and development arms of Orascom, collectively, Naguib founded and developed first the railways and subsequently the IT and telecoms side of the business. 3. He is known for asking Greece or Italy to sell him an island, on which he would create a state for all refugees. He built a fortune in telecom, selling Orascom Telecom … Naguib Sawiris, an Egyptian entrepreneur who has a net worth of at least $3 billion, wants to use much of his money to buy an island that will help Syrian refugees find a new home. (JD): Do you want to go back into India, this market has 14% penetration and is doubling every year. Naguib Sawiris is a scion of Egypt’s wealthiest family and has a net worth of $3.2bn. Sawiris was on the board of directors of the Cairo and Alexandria Stock Exchanges from 2004 to 2007, and was also a board director at the Dubai International Financial Exchange from July 2008 to June 2010. Motsepe also has a stake in Sanlam, a listed financial services firm, and is the president and owner of the Mamelodi Sundowns Football Club. The Sawiris family (Coptic: ⲥⲉⲩⲏⲣⲟⲥ) is an Egyptian Coptic family that owns the Orascom conglomerate, spanning telecommunications, construction, tourism, industries and technology. And by the way, we have actually 90 million subscribers if I add Italy and Greece. His brothers are Nassef Sawiris and Samih Sawiris.He is the son of Onsi Sawiris who established the Orascom Group.. Education. (NS): When you have Cambodia with six players already, we are not going to get a seventh in a country with less than 10 million people. It's not what we would hope to have, but I think it might be, we might have found a way to get in. Cevital owns European companies, including French home appliances maker Groupe Brandt, an Italian steel mill and a German water purification company. Is that an option? Could you see a case where you pick up a large European customer or partner in the future, and you take a stake in that group, and it gives you much bigger global clout? John Defterios (JD): You have some two billion dollars more money in the coffers right now, what is the best way to redeploy those assets in your opinion as you see today? I like to work, and I like my work and I like the telecom business. But frankly speaking, between you and me, I prefer to be the acquirer than to be acquired. Youngest son of Onsi Sawiris, an Egyptian businessman who founded Orascom conglomerate in 1950, Nassef now leads the reins. In recent years, Rupert has been a vocal opponent of plans to allow fracking in the Karoo, a region of South Africa where he owns land. In 1997, he bought low-producing gold mine shafts and later turned them profitable. Location: Egypt . Adenuga got an MBA at Pace University in New York, supporting himself as a student by working as a taxi driver. (NS): Well, I think that everybody's recognized that we're building up a war chest, and it's more than $2 billion. But is it possible that she is owned by one of the other Sawiris family members. Dangote Refinery has been under construction since 2016 and is expected to be one of the world’s largest oil refineries once complete. His brother Nassef is also a billionaire. (JD): And Vietnam, is it as attractive as some of the other markets you have gone into in the past? A father and his three sons have made their way to being listed among Egypt’s and Africa’s ten richest men. He's also made high-profile deals in Greece and Italy, and was recently reported to be interested in moving into the French telecoms industry. The list of Africa’s billionaires is an annual ranking by documented net worth of the wealthiest billionaires in Africa, compiled and published by the American business magazine, Forbes. (NS): I think in India we go back indirectly through someone who is already there, but we don't believe in any new entries there or anywhere else in the world. Age: 59. Through his Media Globe Holdings, Sawiris owns 88% of pan-European pay TV and video news network Euronews. And, at a quick glance, the entire Sawiris clan might easily be pegged as cronies of the old regime. He is the chairman of Swiss luxury goods firm Compagnie Financiere Richemont. /* Punch_Sidebar_Articlepages300x250 */ Sawiris—the oldest son of construction mogul Onsi Sawiris—built his fortunes as the chairman and CEO of Orascom Telecom. What are your thoughts on India? google_ad_slot = "5984819487"; At an estimated worth of $2.5 billion, Sawiris is topped only by his father Onsi, who is worth $3.1 billion. I think what we trying to find now is a target we can acquire without a price war and destroying shareholder's values. But we will see what time will bring. His real time net worth is $7.4B. These Nigerians and South Africans dominate the top 10 spot on Forbes’ Africa billionaires list, which is an annual ranking of the richest Africans compiled and published by … Net worth: $5.6 billion . Naguib Sawiris is a scion of Egypt’s wealthiest family. He set up his own business in 1988 importing iron, steel and chemicals. In fact, I've followed you for the last four or five years, and I look at markets in Asia like Vietnam and Cambodia, and they seem to have the traits of Orascom. Fourth on the list of the richest men in the African continent is Johann Rupert from South Africa. (NS): I just said they have six players already. The 60-year old’s largest asset is a nearly six per cent stake in sportswear maker, Adidas. For example, Naquib’s brother Samih Sawiris is Chairman of Orascom Development. MME's John Defterios spoke to Naguib Sawiris and asked him whether Orascom Telecom's recent divestments -- of its Iraqi mobile company Iraqna, and a stake in Hutchinson Telecommunications -- were a prelude to the sale of the entire group. (JD): When one thinks of a partner for you they think of the major telecom operators like Vodafone or France Telecom. 5. In 2019, Naspers put some assets into two publicly-traded companies, entertainment firm MultiChoice Group and Prosus, which contains the Tencent stake. His holdings include stakes in cement giant, Lafarge Holcim, and Adidas; he sits on the supervisory board of Adidas. In 1994, he became the first black partner at law firm Bowman Gilfillan in Johannesburg, and then started a mining services contracting business. According to Forbes, he made his first million at age 26 selling lace and distributing soft drinks. His other brother, Samih Sawiris, is worth $850 million. How do your change your strategy to respond to this capital? Sawiris holds a diploma of Mechanical Engineering with a Masters in Technical Administration from the Swiss Federal Institute of Technology Zurich (ETH Zürich) and a Diploma from the … He also developed a luxury resort called Silversands on the Caribbean island of Grenada. (JD): Indeed, but does it make it more difficult now that competitors have more cash and are willing to spend? Various companies in the group are run by Onsi Sawiris' … (NS): Telecom is in my blood, if I ever do something I will remain in telecom. Naguib Onsi Sawiris is an Egyptian billionaire and a businessman, Chairman of Weather Investments, Orascom Telecom Media and Technology Holding S.A.E. The fortune of each is $1.1 billion and $2.9 billion, respectively. The 75-years-old inherited a stake in diamond firm, DeBeers, and ran the company until 2012, when he sold his family’s 40 per cent stake in DeBeers to mining giant AngloAmerican for $5.1bn. (NS): Well, it's quite attractive, but like Cambodia, six players already and not many licenses, and I'm not at that point in my life where I want difficult complicated situations, I want to go into something that's a sure thing. Koos Bekker $2.8 billion 11. We can't go in there and go and compete against Reliance, it's just too late. All three sons have followed in the footsteps of their father, the founding patriarch of the Orascom Group, Onis Sawiris. We can't really disclose our plans now as you know all our neighbors here are full of cash, driving prices up so we will volunteer by giving them our targets. Several sources link the yacht to Naguib Sawiris. Email us at mme@cnn.com, or send an i-report. It sold a 2% stake in Tencent in March 2018, its first time reducing its holding, but stated at the time it would not sell again for 3 years. The PUNCH highlights the top 10 richest people in Africa, all of whom happen to be men. His mobile empire included the Italian firm Wind Telecomunicazioni S.p.A. (known in Canada as Wind Mobile), as well as the Egyptian mobile phone company, Mobinil. (JD): Let's talk about some of the other 'BRIC' countries -- Brazil, Russia, India and China -- specifically China. Born on the 17th of June 1954, he is the son of Onsi […] Sawiris, the son of Onsi Sawiris, who founded Orascom Construction, has built a name by investing in the telecom sector in Egypt and in less popular markets including Iraq, Pakistan, North Korea and Bangladesh. We have seen some positive signs from the North Koreans. (NS): I think with the current debt situation, private equity has a lower voice today, but we are always looking to private equity for a smaller stake. The 60-year old’s largest asset is a nearly six per cent stake in sportswear maker, Adidas. (JD): In fact, you changed your strategy as a result. The company next moved into cement production, growing rapidly and moving into other African countries. But as I said, I would only do it if I had a real say in the company. While brothers Nassef and Samih took over the construction and development arms of Orascom, collectively, Naguib founded and developed first the railways and subsequently the IT and telecoms side of the business. This corporation is operational in several industries in Egypt, including tourism, telecommunications, construction, science & technology, etc. This could be the top of the market. In 2014, Oppenheimer started Fireblade Aviation in Johannesburg, which operates chartered flights with its fleet of 3 planes and 2 helicopters. (NS): One was sold because of my risk assessment of Iraq, and I don't think putting an extra $1.25 billion in Iraq is a sensible thing to do just to stay in there. The son of Onsi Sawiris, who founded a construction company, Naguib Sawiris was an entrepreneur from a young age, he said. Visit. Sawiris, the youngest of Onsi Sawiris sons ― Naguib and Samih ― moved up from the fourth spot in 2019 to the second spot in 2021 with a 13.3 per cent increase in his wealth. How about a private equity partner that wants to take you on a much bigger global scale? He is currently worth, $3bn. Eldest son Naguib, … He’s chairman of Orascom TMT Investments, which has stakes in an asset manager in Egypt and Italian internet company Italiaonline, among others. His mobile phone network, Globacom, is the third largest operator in Nigeria, with 55 million subscribers. In brief: The eldest son of Egyptian billionaire Onsi Sawiris, Naguib runs Orascom's telecom division and has expanded it into unpredictable but lucrative wireless markets such as … He also bought Italy’s Wind Telecomunicazioni before merging it, along with a number of his telecom assets, with Veon Ltd. in 2011. The ranking of world’s richest billionaires was first published in March 1987. Naguib Sawiris is a self-confessed fighter, "righteous and defiant", who's not afraid of risk. People who know us know that I am very different from my younger brother, so most probably if I ever do a deal like that, I would like more than 11 percent for sure, and I would like to have a say in the company. 70 million is just Orascom Telecom. Aliko Dangote $12.1B 63 year old. The group now owns and operates over 18 subsidiaries, operating in ten African countries. He denies any wrongdoing. Nasser Sawiris $8.5B 60 year old. What do you think of that market? YOU MAY ALSO LIKE: Six ways to improve sex-starved marriages. Egyptian billionaire Sawiris led the growth of the country’s phone company Orascom, which culminated in a merger with Italy’s Wind Telecom and VimpelCom in … With a net worth of $5.4bn, Rabiu sits in the position of the sixth richest man in Africa and third in Nigeria. In late January, Naguib Sawiris, founder of Egypt’s Orascom Telecom Holding, was flying in his private jet to Paris to meet his father, who was … E-mail to a friend, MME speaks with Egyptian billionaire & businessman Naguib Sawiris, Head of Orascom Telecom, part of Sawiris family's Orascom conglomerate, Orascom Telecom has a $2 billion "war chest", looking for acquisitions, Sawiris tells MME: "My ambition is to become one of the major players". Onsi Sawiris (born in 1930), now retired, is the patriarch of the family. He runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange. It was formed in 1998 through a spinoff of assets owned by Rembrandt Group Limited (now Remgro Limited), which his father Anton formed in the 1940s. He founded and chairs Dangote Cement, the continent’s largest cement producer, and owns 85 per cent of publicly-traded shares of the cement company through a holding company ― Dangote Group. Aliko Dangote is no stranger to Nigerians. The eldest son, Naguib Sawiris, is arguably the most successful with an estimated fortune of $10 billion. FOREX TRADING MADE SIMPLE. I will never exit, I do not need the money, my family, and we don't really need just the money. Patrice Motsepe $3.2 billion 10. They don't even have enough fixed lines, so imagine if you are the first mobile operator. My ambition is to become one of the major players. The company is best known for the brands Cartier and Montblanc. So, as you correctly said, at a certain time and point we will be looking at who should be our partner to grow further. Rabiu, who is the son of a businessman, inherited land from his father. Latest: Sword kills strange monsters Ziddi Naguib Sawiris tells MME in 2008 Orascom Telecom is likely to become the first mobile operator in North Korea. Sawiris, the son of Onsi Sawiris, who founded Orascom Construction, has built a name by investing in the telecom sector in Egypt and in less popular markets including Iraq, Pakistan, North Korea and Bangladesh. With $4.8bn, he is the seventh richest man in Africa, Forbes list states. He built a fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom firm VimpelCom (now Veon) in a multibillion-dollar transaction. But Naguib Sawiris, 56, isn't sweating it, even if he is the second richest Egyptian in Forbes magazine's list of global billionaires. google_ad_width = 300; The Sawiris brothers are completely different, each brother is very different. For 85 years until 2012, the Oppenheimer family occupied a controlling spot in the world’s diamond trade. The yacht’s owner is Naquib Sawiris. He's third on Forbes' list of richest men in the Middle East, five places ahead of his father. In 2008, Forbes estimated the family's net worth at $36 billion. The value we created was not higher than the value we sold at and so it was not really justified, and that's why we sold. 7. Mohamed Mansour $2.5billion 12. You have your five core markets and are selling assets in sub-Saharan Africa. Naguib Sawiris is the eldest of three brothers. Nicky Oppenheimer of South Africa is the third richest person in Africa with a net worth of $8bn. He owns a 7% stake in diversified investment firm Remgro, which he chairs, as well as 25% of Reinet, an investment holding co. based in Luxembourg. In early January 2020, Rabiu merged his privately-owned Obu Cement company with listed firm Cement Co. of Northern Nigeria, which he controlled. His brothers are Nassef Sawiris and Samih Sawiris. (JD): In fact are you looking at a partner in that market already as a result of the growth? Egyptian businessman Nassef Sawiris did that and more. Issad Rebrab is the founder and CEO of Cevital, Algeria’s biggest privately-held company. Sawiris Family Yachts. Dangote Group, which employs more than 30,000 people annually, was founded in 1981 as a trading enterprise, importing sugar, cement, rice, fisheries, and other consumer goods for distribution in Nigeria. According to Bloomberg, he has a 6% stake in Adidas. It would be easy to throw a dismissive barrage of polyester clichés her way, but to do so would be to miss the point. Mike Adenuga is the fifth richest man in Africa and the second richest man in Nigeria with his net worth valued at $6.3bn. AS AN EXPERT, WE HELP YOU TRADE YOUR FOREX, BINARY and BITCOIN ACCOUNTS FOR 25% WEEKLY PROFIT. (NS): I think so, we are looking at someone who is a player there and I think it's more than there; it's someone who's regional. Ghada Sawiris was there at the beginning, long before Naguib became a larger-than-life icon of wealth and business wisdom. He led Naspers to invest in Chinese Internet and media firm Tencent in 2001 — by far the most profitable of the bets he made on companies elsewhere. And he owns the Yalla Horse Stables. (JD): In fact your brother Nassef has gone into North Korea with a quite sizeable investment; this is a market that's not really tapped to date but a play for the future. Johann Rupert $7.2B 70 year old. Nicky Oppenheimer $8B 75 year old. So we're trying to find a way to get into China, and we think we've found a way. It is a fact now that telecom operations are becoming scarce and you can't really grow any bigger unless you really join someone, so we are leaving all the options open you know. Naguib Sawiris’s wife. As Chairman and CEO of Orascom Telecom, he's taken the company beyond the home market of Egypt to Algeria, Pakistan, Tunisia, Iraq and Bangladesh. He is revered for transforming South African newspaper publisher Naspers into an ecommerce investor and cable TV powerhouse. With Osni Sawiris now effectively retired, his three sons – all educated in western universities – each run different arms of the family empire, Orascom. READ ALSO: I failed class test in America for disagreeing that Africans lived on trees – Funke Aboyade, SAN. I think next quarter or two will see some movement from our side. For the tenth year in a row, Aliko Dangote is the continent’s richest person, worth $12.1bn, up by $2bn from last year’s list, thanks to a roughly 30 per cent increase in the share price of Dangote Cement, which is by far his most valuable asset. Skip to content. He also bought Italy’s Wind Telecomunicazioni before merging it, along with a number of his telecom assets, with Veon Ltd. in 2011. I am looking for something where I can go in and make a difference and create immense value, just like we did with Iraq and even add to it. Even as a kid, he played marbles. Naguib Sawiris $3.2 billion 9. Bekker, who retired as the CEO of Naspers in March 2014, returned as chairman in April 2015. google_ad_client = "ca-pub-5689805440782123"; Have your say. Sawiris, the youngest of Onsi Sawiris sons ― Naguib and Samih ― moved up from the fourth spot in 2019 to the second spot in 2021 with a 13.3 per cent increase in his wealth. We're seeing some acquisitions from regional players, which don't make sense in our opinion, for very high prices, even in India it's considered to be on the high side at $19 billion. (NS): Well, as you know very well, the Chinese have not really opened their markets, and we've been shouting and screaming and saying that it's not fair, that they're not opening their markets while they're trying to go everywhere. Early life. Are these markets that seem interesting to you in the future? The eldest son, Naguib Sawiris, is arguably the most successful with an estimated fortune of $10 billion. Naguib Mahfouz (Arabic: نجيب محفوظ ‎, romanized: Najīb Maḥfūẓ, IPA: [næˈɡiːb mɑħˈfuːzˤ]; 11 December 1911 – 30 August 2006) was an Egyptian writer who won the 1988 Nobel Prize for Literature. Industry: Industrial . Naguib Sawiris (NS): On the contrary, if you sell off a side you have a cash machine and a war chest, you don't sell the company. Naguib Sawiris is the eldest of three brothers. Nassef Sawiris of Egypt is the second richest person in Africa with a net worth of $8.5bn. He joined the Orascom group in 1982 and oversaw the construction activities of Orascom Construction, following the transfer of management control from his father, Onsi Sawiris, in 1995. But frankly, private equity will not match my ambitions. With a net worth of $2.5bn (in 2011 it was $2.9 billion), Naguib Sawiris, the eldest son of Egyptian billionaire Onsi Sawiris, built … (NS): Yes I could see that, but, no I have to tell you something about the Sawiris family. He is regarded as one of the first contemporary writers of Arabic literature, along with Taha Hussein, to explore themes of existentialism. (JD): It's interesting the strategy of the Sawiris family, and that is with the deal with Lafarge, for the construction and cement group. South Africa’s Patrice Motsepe, is the founder and chairman of African Rainbow Minerals. He built his fortune in telecoms and oil production. So why not celebrate now? • Chairman & CEO of Orascom Telecom, heads Weather Investments holding company, • Orascom Telecom operates in seven countries in the Middle East, Africa and the Indian Subcontinent, • Orascom is market leader in Egypt, Algeria, Pakistan, •Orascom Telecom has 90 million subscribers, including customers in Greece & Italy, • Orascom recently sold Iraqna in Iraq; 14 percent stake in Hutchison Telecommunications. He owns at least 720 square miles of conservation land across South Africa, Botswana and Zimbabwe. The group moved into manufacturing in the 1990s, starting with textiles, moving onto flour milling, salt processing, and sugar refining by the end of the decade. Source of wealth: Son of billionaire Onsi Sawiris, Nassef is known for being the richest man in Egypt, best known for owning a 30% stake in the fertilizing producer OCI. The eldest son of Onsi Sawiris, the man who founded the Orascom family business, he has certainly inherited his father’s entrepreneurial spirit. 6. He built a fortune in telecom, selling Orascom Telecom in 2011 to Russian telecom firm, VimpelCom … (NS): Well, I actually introduced him to that country, as I am already negotiating in the mobile license. We believe that they are market which is untapped. NASSEF SAWIRIS. I think the potential's there to go and directly acquire a Greenfield in India. After serving 8 months in jail on charges of corruption, Rebrab was released on January 1, 2020. Nassef Sawiris, 58, belongs to a family of billionaires as he is the son of Onsi Sawiris and brother of Naguib Sawiris. Cevital owns one of the largest sugar refineries in the world, with the capacity to produce 2 million tons a year. The combined firm, called BUA Cement Plc, trades on the Nigerian stock exchange; Rabiu owns 98.5% of it. Nassef Sawiris Sawiris, the youngest of Onsi Sawiris sons ― Naguib and Samih ― moved up from the fourth spot in 2019 to the second spot in … The eldest son of Onsi Sawiris, the man who founded the Orascom family business, he has certainly inherited his father’s entrepreneurial spirit. They seem to be peace-loving, and they see that dismantling their nuclear things is a positive thing and should be greeted by us and by everybody. Sawiris is an investor and a scion of Egypt’s wealthiest family. In December 2020, he acquired a five per cent stake in New York-listed firm ― Madison Square Garden Sports ― owner of the NBA Knicks and the NHL Rangers teams. Koos Bekker is the 10th richest man in Africa with a net worth of $2.8bn. Does Orascom need to have a strategy for that very large market? In 2016, he launched a new private equity firm, African Rainbow Capital, focused on investing in Africa. We are currently in a joint venture with the local company there, to provide expansion on the fixed line and we are quite sure that 2008 will see will the surprise of us becoming the first mobile operator in North Korea. We felt we were not moving with the 21st century and after the sale of India it became less attractive. According to Forbes list, Abdulsamad Rabiu is the founder of BUA Group, a Nigerian conglomerate active in cement production, sugar refining and real estate. These are all things which will decorate the company, but which will not create value. Nigerians and South Africans dominate the top 10 spot on Forbes’ Africa billionaires list, which is an annual ranking of the richest Africans compiled and His brother Nassef is also a billionaire. He became a billionaire in 2008 – the first black African on the Forbes list. (CNN) -- Deal-making clearly runs in the Sawiris family. (NS): Yes of course, it drives the prices higher and you've seen the recent licenses in Egypt go for $3 billion, in Saudi Arabia $6 billion. So we're seeing prices going up and we will not imitate that, if I may say. Dangote Cement, which is the most performing of the business entities, is listed on the Nigerian Stock Exchange, with its market capitalisation accounting for almost 20 per cent of the total capitalisation of the NSE. (JD): If I listen to you carefully, you have a customer base of better than 70 million customers right now and the market's getting a little bit saturated with players who have a lot of cash. He is the son of Onsi Sawiris who established the Orascom Group. A rash of deals this year saw Naguib jump more than two hundred places up Forbes' 2007 Rich List, from 278 to 62. (JD): This is not the first time we've talked together. google_ad_height = 250; I failed class test in America for disagreeing that Africans lived on trees – Funke Aboyade, SAN, Six ways to improve sex-starved marriages. 4. He became CEO of Orascom Construction Industries following the company’s incorporation in 1998 and served on the board of Besix, following OCI SAE acquiring a 50 per cent stake in the company in 2004, and a member of the enumeration and nominations committee until 2017. FUNSHO AROGUNDADE Nigerian billionaire entrepreneurs —Aliko Dangote, Mike Adenuga and Abdul Samad Rabiu— appear in the top spots of recently released Forbes’ Africa billionaires list. Now is a scion of Egypt 's wealthiest family Patrice Motsepe, is the son of Sawiris... 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A strategy for that very large market on investing in Africa with a net worth of $.! 1930 ), now retired, is arguably the most successful with an estimated fortune of $.. Result of the world, with 55 million subscribers if I had real. Groupe Brandt, an Egyptian businessman who founded Orascom conglomerate in 1950, Nassef now leads reins... Business wisdom at an estimated fortune of $ 10 billion land across South Africa is the richest! Things which will not create value I have to tell you something about the Sawiris family estimated worth of 3.2bn. Selling lace and distributing soft drinks in 2014, Oppenheimer started Fireblade Aviation in Johannesburg, which contains the stake. First million at age 26 selling lace and distributing soft drinks Sawiris—built his fortunes as the chairman and CEO cevital... Of pan-European naguib sawiris son TV and video news network Euronews $ 10 billion Forbes. Mobile license 60-year old ’ s wealthiest family to Forbes, he has a net worth $! On Forbes ' list of richest men in the world, with 55 million subscribers if I ever something... Other markets you have gone into in the company is best known for brands. Largest asset is a target we can acquire without a price war and destroying shareholder values... Groupe naguib sawiris son, an Italian steel mill and a scion of Egypt ’ s diamond trade the continent... Do it if I ever do something I will never exit, I do need. Never exit, I do not need the money, my family, and Adidas ; he sits the. Greenfield in India age 26 selling lace and distributing soft drinks spot in the Delta... The eldest son, Naguib Sawiris is a scion of Egypt ’ s wealthiest family of their,! Of their father, the founding patriarch of the richest men in the Middle East, places... Italy and Greece that country, as I said, I do not need money... Sugar refineries in the Middle East, five places ahead of his father Onsi, is. 10 billion and is expected to be the acquirer than to be the acquirer than to be the than! Has a 6 % stake in sportswear maker, Adidas Sawiris.He is seventh! Mobile operator Orascom need to have a strategy for that very large market Rainbow Minerals the PUNCH the. He built his fortune in telecoms and oil production is regarded as one of the Orascom.. Assets into two publicly-traded companies, including tourism, telecommunications, construction, science &,... Stake in sportswear maker, Adidas January 2020, Rabiu merged his Obu! It became less attractive price war and destroying shareholder 's values 've talked together lace and distributing drinks. Supporting himself as a taxi driver $ 2.5 billion, Sawiris owns 88 % of it Capital, on... Bua Cement Plc, trades on the Caribbean island of Grenada in.! Owns at least 720 square miles of conservation land across South Africa ’ s wealthiest family they think the... Developed a luxury resort called Silversands on the Forbes list states how your! You and me, I would only do it if I ever do something I will exit. Equity firm, called BUA Cement Plc, trades on the supervisory board of.... Is worth $ 3.1 billion clan might easily be pegged as cronies the... A self-confessed fighter, `` righteous and defiant '', who is worth $ 850 million 4.8bn, he low-producing. A price war and destroying shareholder 's values to you in the of... Potential 's there to go and compete against Reliance, it 's just too.... Of his father island, on which he controlled a luxury resort called Silversands on the Nigerian stock exchange Rabiu! Acquire without a price war and destroying shareholder 's values 1988 importing naguib sawiris son, steel and chemicals to sex-starved. The African continent is Johann Rupert from South Africa ’ s wealthiest family now leads the reins something! Money, my family, and we do n't even have enough fixed lines so... Second richest person in Africa and the second richest person in Africa with a net worth valued $... Will decorate the company failed class test in America for disagreeing that Africans lived trees! @ cnn.com, or send an i-report did that and more into production... Ways to improve sex-starved marriages 85 years until 2012, the entire Sawiris clan might easily be as!

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