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This Billionaire Says He's Put Half His Net Worth Into Gold

  • Egypt’s Sawiris has put half his entire net worth into gold
  • He’s been waiting 10 years for North Korea stakes to pay off
Bloomberg business news
Sawiris Expects Gold Prices to Rally to $1,800 per Ounce

Some big investors see warning signs ahead for markets but are holding their positions. Egyptian billionaire Naguib Sawiris is taking action: He’s put half of his $5.7 billion net worth into gold.

He said in an interview Monday that he believes gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now, while “overvalued” stock markets crash.