Nassef Sawiris, the most wealthy person in North Africa and the Arab world, is making news with his current business activities and the expansion of his already enormous fortune. Sawiris is the fifth-richest person in Africa with a net worth of $7.39 billion, and he isn’t showing any signs of slowing down.
Over 25% of Sawiris’ fortune originates from his 38.8% ownership position in OCI N.V., a significant manufacturer and supplier of products containing nitrogen and methanol. His amazing net worth has been greatly impacted by this investment as well as his ownership in businesses like a six-percent position in Adidas AG, Arkema S.A., Madison Square Garden Sports Corp., and Aston Villa.
Sawiris has invested $135 million in the English club team Aston Villa, making him a successful football club owner as well. As one of the wealthiest football club owners in Europe, his investment was essential in assisting the team’s promotion to the Premier League in 2019.
One of the investments Sawiris has made in the most expensive businesses and sports franchises in the world is his most recent $24 million mansion acquisition in Beverly Hills’ Trousdale Estates, which is flanked by other opulent estates owned by billionaires like Bernard Arnault.
With $219 million in year-to-date wealth gains, Sawiris is also prospering financially. This is partly because of the success of a large-scale blue ammonia project in Beaumont, Texas, and his ownership of OCI N.V. By April 2023, the business intends to give its shareholders a semi-annual cash return of $730 million, following total cash payouts of $1.1 billion in 2022, which included a record net profit of $1.4 billion.
A 500-MW wind farm in Egypt’s Ras Ghareb municipality is also being built, according to a recent announcement from Sawiris’ family-run and partially-owned company, Orascom Construction. Along with accelerating Egypt’s switch to renewable energy, this project, developed in partnership with ENGIE and Toyota, would also cut CO2 emissions by 1 million tons yearly. As one of the richest men in the world, Nassef Sawiris has established himself as a force to be reckoned with through his investments in worthwhile businesses and endeavors.
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