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#360 Naguib Sawiris $4.93B

Random fact: Has more than 2 million followers on Twitter.

Overview

Naguib Sawiris controls a majority stake in Orascom Telecom Media and Technology Holding. The Cairo-based company is publicly traded and has investments across the Middle East and North Africa. He also owns closely held telecommunications businesses in Europe and has interests in gold mines through La Mancha Resources.

As of July 23, 2017:
Last change +$26.3M (+0.5%)
YTD change +$658M (+15.4%)
Industry Media & Telecom
Biggest asset Cash
Citizenship Egypt
Age 63
Wealth Self-made
View net worth over:   Max 1 year 1 quarter 1 month 1 week

Relative Value

Naguib Sawiris's net worth of $4.93B can buy ...

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troy ounces of gold
0
barrels of crude oil

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of the GDP of the United States
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of the total wealth of the 500 richest people in the world
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of the top 100 U.S. college endowments
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of the top 200 U.S. executives’ total awarded compensation
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of U.S. existing home sales
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times the median U.S. household income

Latest News

Net Worth Summary

Cash
Private asset
Public asset
Misc. liabilities
Confidence rating:

The majority of Sawiris's fortune is held in cash and closely held assets, most of which are from the sale of his stake in Russian telecommunications company Vimpelcom for almost $4.1 billion in 2011 and 2012. He first acquired the shares after agreeing to sell most of his telecommunications assets, including a 51 percent stake in Cairo-based Orascom Telecom Holding and 100 percent of Italy's Wind Telecomunicazioni, for $1.5 billion and a 20 percent stake in Vimpelcom. The billionaire told Bloomberg News in a 2011 interview that his profit from the Vimpelcom deal was about $300 million.

Sawiris owns most of his assets through Luxembourg-based holding vehicle, Orascom TMT Investments, formerly called Weather Investments II, which he controls with his father, Onsi. Naguib Sawiris's stake in Orascom TMT Investments, or OTMTI, is calculated at 70 percent, based in part on the ownership structure of another asset owned by the Sawiris family: publicly traded fertilizer company, OCI, which is controlled by Onsi and Naguib's brother, Nassef.

Through OTMTI, Sawiris indirectly owns a 36 percent stake in publicly traded Orascom Telecom Media and Technology Holding, a Cairo-based company formed from the merger between Vimpelcom and Orascom's former parent company, Orascom Telecom Holding. His other public holdings include stakes in Evolution Mining, Endeavour Mining and Dada.

He also owns telecommunications service provider, WIS Telecom, which is valued based on its 2014 financials and the average enterprise value-to-sales and enterprise value-to-Ebitda multiples of three publicly traded peers: TalkTalk Telecom Group, QSC and Tiscali.

His private equity firm, Accelero Capital, is valued based on a December 2014 transaction.

The value of his cash investments is calculated using an analysis of insider transactions, dividends, taxes and market performance.

Manal Abdel-Hamid, a spokesperson at OTMT, declined to comment on the new worth calculation.

Biography

Birthdate: 6/15/1954
Family: Married, 4 children
Education: Swiss Institute of Technology, Master's Degree German Evangelical School, Diploma

Naguib Sawiris was born on June 15, 1954 in Egypt, the oldest of three sons born to Yousiriyya and Onsi Sawiris. His father, the son of a lawyer, founded a construction company in 1950, which became one of Egypt's largest contractors, building roads and waterways along Egypt's upper Nile region. The business was nationalized in 1961 by President Gamal Abdel Nasser, and renamed El Nasr Civil Works Company.

Frustated at being reduced to an employee at his own company, Onsi moved to Libya, where he built a new general contracting company. After six years, relations between Libya and Egypt were fraying and Onsi moved back to Egypt where he started anew for the third time, founding Orascom Construction Industries. Through partnerships with international companies working on local projects, Orascom grew to be one of the largest private builders in Egypt by the mid-1990s.

Naguib joined the family business in 1979, after studying at the German Evangelical School of Cairo and earning a Masters in technical administration from the Swiss Federal Institute of Technology in Zurich. At Orascom, Naguib helped expand the company's operations into IT and telecommunications. It had split into three separate operating companies by 1990: Orascom Telecom, headed by Naguib, Orascom Development and Hotels, led by middle son Samih, and Orascom Construction Industries, overseen by the youngest, Nassef.

Under Naguib's leadership, Orascom Telecom grew quickly by penetrating markets such as Iraq, Bangladesh and North Korea, that were perceived as too poor and underdeveloped by competitors. Not wanting to limit himself to emerging markets, Naguib sought to invest wherever he saw a deal. He formed Weather Investments in 2005, funded partially with his stake in Orascom Telecom, and led a record $15 billion leveraged buyout of Italy's Wind Telecomunicazioni. Sawiris merged Weather Investments, renamed Wind Telecom, with Russia's Vimpelcom in April 2011, creating the world's sixth-largest mobile telecommunications provider.

Naguib is one of four billionaires in the family, and the only one who has entered politics. He co-founded the Free Egyptians Party (Al Masreyeen Al Ahrrar), in June 2011, in the wake of the Egyptian revolution. Advocating a secular, free-market agenda, the party has opposed Egypt's Islamist parties.

Following the election of President Morsi and facing death threats, Naguib left Egypt with his family in June 2012. He came back to Egypt with his father and eight family members the following May. A Coptic Christian, Sawiris is married with four children. He lives in Cairo.

Milestones
  • 1954 Naguib Sawiris is born in Egypt.
  • 1976 His father Onsi returns to Egypt due to Libya's political instability.
  • 1979 Joins the family's Orascom Group.
  • 2005 Leads $15 billion leveraged buyout of Wind Telecomunicazioni.
  • 2008 Buys a 25-year mobile phone license in North Korea.
  • 2011 Co-founds the Free Egyptians Party.
  • 2012 Leaves Egypt after the election of President Morsi.
  • 2013 Returns to Egypt with his family.