Nassef Sawiris teamed up with Fortress Investment Group's Wes Edens to purchase Aston Villa Football Club. All Rights Reserved. The fortune of each is $1.1 billion and $2.9 billion, respectively. When Nassef Sawiris disclosed last week that he is the largest individual shareholder not named Dolan to own a part of the New York Knicks and Rangers, it raised a curious question: Why is an activist investor and Egyptian fertilizer billionaire taking equity in a company tightly controlled by Long Island’s Dolan family? He is Egyptian by natinoanliy. He is one of the richest persons in Egypt. [12] In 2016 he was appointed as supervisory director of Adidas AG, Herzogenaurach, Germany,[13][14], It was announced in July 2018 that Sawiris would replace Tony Xia as chairman of Aston Villa F.C. Africa's 21 billionaires are worth a combined $70 billion. For example, Naquib’s brother Samih Sawiris is Chairman of Orascom Development. The Sawiris family has been active in the construction industry since 1950. The second richest is Nassef Sawiris of Egypt, whose largest asset is a nearly 6% stake in sportswear maker Adidas. With plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange. [5] He served on the board of Besix, following OCI SAE acquiring a 50% stake in the company in 2004, and a member of the enumeration and nominations committee until 2017. Now the ambitious member of Egypt's wealthiest family will set about trying to … He is the founder of Orascom Construction Industries. Several sources link the yacht to Naguib Sawiris. following the purchase of a 55% controlling stake by NSWE, a company jointly owned and controlled by Sawiris' group NNS and American billionaire Wes Edens. Naguib Sawiris. Unit price: $70,000,000 . Orascom Construction Industries was split into two bodies in 2015 namely; OCI and Orascom Construction. A University of Chicago graduate, he donated $24.1 million to the school in 2019 to aid Egyptian students and fund an executive education program. at Egypt. In October 2015, it was reported that Sawiris had acquired a stake in Adidas AG via his investment company NNS Holding Sàrl Luxembourg. Sibling. America’s richest man, Bill Gates is one of a group of international investors acquiring a stake in OCI NV, an Egyptian construction and fertilizer company and a wholly-owned subsidiary of Orascom Construction Industries, SAE (OCI) controlled by Egyptian billionaire Nassef Sawiris. Egyptian engineering, procurement and construction company Orascom Construction Industries (OCI) has released an official statement announcing that the imprisonment verdict handed down by an Egyptian Court to its billionaire chief Nassef Sawiris has been “suspended and rendered unenforceable,” according to Al Bawaba.. Nassef Sawiris real name is Nassef Onsi Sawiris. Richest Family in Egypt The Sawiris family is the richest family in Egypt. The Egyptian billionaires listed are Nassef Sawiris, Mohamed Mansour, Naguib Sawiris, Yasseen Mansour, Youssef Mansour, and Mohamed al-Fayed.. [1][19] He is a Christian. In December 2020, he acquired a 5% stake in New York-listed firm Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams. It would be easy to throw a dismissive barrage of polyester clichés her way, but to do so would be to miss the point. [1], "African Billionaire Fortunes Decline On New FORBES List Of The Continent's Richest", https://www.arabianbusiness.com/culture-society/432946-naguib-sawiris-if-god-wanted-women-to-be-veiled-he-would-have-created-them-with-veil, "DIFX appoints Nassef Sawiris as Director", "Egyptian Billionaire Sawiris Discloses 6% Stake in Adidas", "University of Chicago Receives $20 Million for Egyptian Students", "Meet Sherine Magar Sawiris, The Wife Of Egyptian Billionnaire Nassef Sawiris", https://en.wikipedia.org/w/index.php?title=Nassef_Sawiris&oldid=999037312, Creative Commons Attribution-ShareAlike License, This page was last edited on 8 January 2021, at 05:17. America's Top Givers: The 25 Most Philanthropic Billionaires, EY & Citi On The Importance Of Resilience And Innovation, Impact 50: Investors Seeking Profit — And Pushing For Change, Egypt's Richest Man Nassef Sawiris Donates $6 Million To Chicago Booth School of Business, The Philanthropy Of Africa's Billionaires, African Billionaire Fortunes Rise On Forbes 2018 List Of Continent's Richest, African Billionaire Fortunes Decline On New FORBES List Of The Continent's Richest, The Biggest Billionaire Gainers In Africa In 2016, Monday 11/28 Insider Buying Report: OCIP, NEWM, The Biggest African Billionaire Losers Of 2015, Tuesday 6/16 Insider Buying Report: OCIP, SCTY, Tuesday 12/2 Insider Buying Report: OCIP, HCLP, Egyptian Billionaire Nassef Sawiris Launches New Investment Fund, Bill Gates And Other U.S. Investors Buy $1 Billion Stake In Egyptian Construction Firm. This corporation is operational in several industries in Egypt, including tourism, telecommunications, construction, science & technology, etc. Reflects change since 5 PM ET of prior trading day Nassef Sawiris is an investor and a scion of Egypt's wealthiest family. List topper Nassef Sawiris held a total fortune of five billion dollars, a fortune which the magazine noted had fallen by 21.9 percent compared to $6.4 billion last year. Naguib Sawiris’s wife. With Onsi and his three sons Naguib, Samih and Nassef each being billionaires. Egyptian billionaire Nassef Sawiris has reportedly set up a new private equity fund that aims to tap into buyout opportunities in his home country. He is Businessmen (Egyptian Businessman) by profession. Nassef Sawiris is Egypt’s richest man with a fortune Forbes estimates at $7.2 billion. This web site is not endorsed by, directly affiliated with, maintained, authorized, or sponsored by Nassef Sawiris. [10] In 2015, he was elected a board member of LafargeHolcim,[11] having served on Lafarge SA's board since 2008. So let's look at two noteworthy recent insider buys. Egyptian billionaire Nassef Sawiris has donated $6 million to the University of Chicago Booth School of Business to launch the first custom-designed Executive Education program in El Gouna, a modern resort town on Egypt’s Red Sea. When Onsi Sawiris first founded a construction company. By the time Nassef turned eight years old, his father’s (Onsi) construction company became one of Egypt’s largest contractors, building roads and waterways along Egypt’s upper Nile region. [7] to June 2010 [8]. He became CEO of Orascom Construction Industries following the company's incorporation in 1998. His holdings include stakes in cement giant Lafarge Holcim and Adidas; he sits on the supervisory board of Adidas. At number three: Nicky Oppenheimer of South Africa, who inherited a stake in diamond firm DeBeers and ran the company until 2012, when he sold his family’s 40% stake in DeBeers to mining giant AngloAmerican for $5.1 billion. The use of any trade name or trademark is for identification and reference purposes only and does not imply any association with the trademark holder. (Bloomberg) -- The family office of Egyptian billionaire Nassef Sawiris disclosed that it has a 5% stake in Madison Square Garden Sports Corp., the holding company that owns the New York Knicks and Rangers. The company also said that the lawsuit came as a challenge … Today we look at [...]. Onsi Sawiris, Lana Sawiris and Naguib Sawiris, and many others are family members and associates of Nassef. The Sawiris family are the most famous and richest family in Egypt - but … Nassef Sawiris is an investor and a scion of Egypt's wealthiest family. His brother Naguib is also well-known as a billionaire. Meet the 15 African billionaires who lost the most money in 2015. Orascom [4], 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. The Sawiris family (Coptic: ⲥⲉⲩⲏⲣⲟⲥ) is an Egyptian Coptic Christian family that owns the Orascom conglomerate, spanning telecommunications, construction, tourism, industries and technology. When Onsi Sawiris first founded a construction company. His most valuable asset is a nearly 6% stake in sportswear maker Adidas. Nassef Onsi Sawiris (Arabic: ناصف أنسى ساويرس‎; born in 1961) is an Egyptian billionaire businessman, the youngest of Onsi Sawiris' three sons (his brothers are Naguib and Samih). Today we look at [...]. Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Sawiris has bought a controlling stake in the troubled Championship club from the embattled Chinese owner. [18], Sawiris is married to Sherine, they have four children, live in London, and maintain a residence in New York City. © 2021 Forbes Media LLC. Exactly half of Africa’s billionaires got richer in the past year. Why One Tycoon’s Fortune Fell 50% And Another’s Nearly Tripled In A Volatile Year For Some On The Continent. Nassef Sawiris net … Family Members. The Sawiris family is the wealthiest in Egypt, running a conglomerate with global interests that stretch from mobile phones in North Korea a new hotel resort in Switzerland. The pandemic hasn’t hurt most of the continent’s richest--in fact, they’re wealthier than a year ago. He then continued at University of Chicago where he received a bachelor's degree in economics in 1982. Nassef Sawiris is the Egyptian multi-billionaire who struck a deal for the takeover of Aston Villa last year, alongside business partner Wes Edens. Other names that Nassef uses includes Nassef O Sawiris, Onsi Sawiris Nassef, Onsi N Sawiris, Naguib O Sawiris and Naguib Onsi Sawiris. The Sawiris family has been active in the construction industry since 1950. Ghada Sawiris was there at the beginning, long before Naguib became a larger-than-life icon of wealth and business wisdom. But is it possible that she is owned by one of the other Sawiris family members. NNS Holding disclosed the passive stake in a regulatory filing Thursday. Nassef’s brother Naguib Sawiris came in the sixth place with a net worth of $4bn, and came in second among the top six Egyptian billionaires included in … The continent outperformed the FORBES World Billionaires List, where only 46% of billionaires saw their fortunes increase in 2016. Forbes list reports that his brother Nassef is also a billionaire. Two new billionaires join the ranks of Africa’s richest, with 23 tycoons now hailing from 8 African countries. As of April 2019, his net worth was estimated to be $7.5 billion, and the fourth richest African in 2019, according to Forbes. Egyptian billionaire Nassef Sawiris and French entrepreneur Ian Gallienne are betting their blank-check company can stand out from a crowded market by focusing on European targets. Nassef Sawiris has struck a deal for the takeover of Aston Villa last year. All Rights Reserved, Reflects change since 5 PM ET of prior trading day. Nassef Onsi Sawiris (Arabic: ناصف أنسى ساويرس‎; born in 1961) is an Egyptian billionaire businessman, the youngest of Onsi Sawiris' three sons (his brothers are Naguib and Samih). The yacht’s owner is Naquib Sawiris. With Onsi and his three sons Naguib, Samih and Nassef each being billionaires. Mr. Onsi Sawiris Advisor to the Board In 1976, Mr. Onsi Sawiris founded Orascom, a leading private sector contractor working in partnership with international companies. And he … On Friday, OCI Partners (OCIP)'s Director, Nassef Sawiris, made a $588,096 purchase of OCIP, [...], Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned dollars to make a purchase, is that they expect to make money. 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 [15], Other appointments include member of Cleveland Clinic's international leadership board,[16] and in 2013 became a member of the University of Chicago's board of trustees,[17] for which he setup the 'Onsi Sawiris Scholars Program' in honor of his father in March 2015. What do Richard Branson, Playboy and the owner of Aston Villa Football club have in common? Onsi Sawiris is the father of Nassef Sawiris as well as an aged member of the Sawiris family –one of the richest Egyptian backgrounds. The Forbes Billionaires’ List: Africa’s Richest People 2021, Richard Branson Jumps In On Billionaire SPAC Gold Rush: Virgin Hopes To Raise $480 Million With NYSE Listing, Africa’s Richest People—And The Tycoon Who Lost Half His Fortune, Bachelor of Arts/Science, University of Chicago. © 2021 Forbes Media LLC. Nassef Sawiris and Sherine Magar. Mfonobong Nsehe looks at how Africa's billionaires give back. [1] Sawiris is a member of Egypt's Coptic Christian minority. As of April 2019, his net worth was estimated to be $7.5 billion,[1] and the fourth richest African in 2019, according to Forbes. Richest Family in Egypt. In 2008, Forbes estimated the family's net worth at $36 billion. In December last year, he nabbed a 5% stake in New York-listed firm Madison Square Garden Sports, owner of the NBA Knicks and the NHL Rangers teams. [3], Since 1982, he has held senior positions with several organizations. Nassef Sawiris, 58, belongs to a family of billionaires as he is the son of Onsi Sawiris and brother of Naguib Sawiris. They’ve all made big moves in the “blank check” market this week. Nassef Sawiris is the administrator of Orascom Construction Industries but in spite of this, Onsi Sawiris still owns the quarter of the company. Naguib Sawiris is a scion of Egypt’s wealthiest family and has a net worth of $3.2bn. In January 2013, he became CEO OCI NV[9] when they acquired the former parent company OCI SAE. His most valuable asset is a nearly 6% stake in sportswear maker Adidas. Sawiris Family Yachts. Nassef Sawiris represents Egypt’s wealthiest family just like his brother Naguib. Nassef Sawiris is an investor. But a corruption probe and court actions led to Africa’s longtime richest woman falling from the ranks. He belongs to one of the wealthiest families of Egypt. [2], Nassef Sawiris received his secondary education from the Deutsche Evangelische Oberschule Kairo. Youngest son of Onsi Sawiris, an Egyptian businessman who founded Orascom conglomerate in 1950, Nassef now leads the reins. [6], He 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 DIFX from July 2008. As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. Orascom Construction, an engineering and building firm, trades on the Cairo exchange and Nasdaq Dubai. The family office of Egyptian billionaire Nassef Sawiris disclosed that it has a 5% stake in Madison Square Garden Sports Corp., the holding company that owns the New York Knicks and Rangers.. NNS Holding disclosed the passive stake in a regulatory filing Thursday. Onsi Sawiris (born in 1930), now retired, is the patriarch of the family. His other brother, Samih Sawiris, is worth $850 million. 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. The Sawiris family is the richest family in Egypt. Nassef Sawiris was born into a wealthy family in Cairo, Egypt and is the youngest of three sons born to Yousiriyya and Onsi Sawiris in 1961. 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