Nassef Sawiris Net Worth, Cars, House and Latest Biography

When it comes to the richest man in Nigeria, the name that immediately comes to mind is Aliko Dangote. In the same way, when asked who is the richest man in Africa, the name Aliko Dangote pops up again. According to Bloomberg and our research team, Aliko Dangote’s current net worth is estimated at $16.4 billion. But then, who is the second richest man in Africa?

Nassef Sawiris is the second richest man in Africa with a metal worth $9.2 billion according to Forbes. Today’s article on https://carpulse.ng brings to the spotlight everything you need to know about this business magnate who has taken his place amongst the richest billionaires in the world.

Brief Profile of Nassef Sawiris

Nassef Sawiris is an Egyptian billionaire and the youngest Scion in the wealthiest family in Egypt- the Sawiris family. He owns and runs Orascom construction, the construction arm of the Sawiris family business. According to Forbes, he is the 297th richest man in the world.

Meet the Sawiris family

The Sawiris family is the wealthiest family name in Egypt. The family has different business investments in various sectors of the country. The patriarch of the Sawiris family is Onsi Sawiris. Onsi was the head of Sawiris and the father to the billionaires Nassef Sawiris, Samih Sawiris, and Naguib Sawiris. He took the seemingly lonely road of making his family name a name of influence and wealth. He established the Orascom General Contracting and Trade company in 1976, which later became Orascom Construction Industries. He handed over management power and executive control of Orascom Construction Industries to his son, Nassef Sawiris in 1995. Sadly, the visionary Onsi Sawiris died on 29 June 2021

Nassef Sawiris Biography

Nassef Onsi Sawiris was born in Egypt on 19th January 1961. His two brothers, Samih Sawiris, and Naguib Sawiris are also billionaires and handle certain segments of the Sawiris family business.

Nassef Sawiris received his secondary education from the Deutsche Evangelische Oberschule Kairo. He then continued at the University of Chicago where he received a bachelor’s degree in Economics in 1982. Studying Economics in school was a smart choice of preparation for Nassef Sawiris as he envisioned himself taking over the family business.  The Sawiris Family is a member of Egypt’s Coptic Christian minority.

Nassef Sawiris Business Portfolios and Investment

As soon as Nassef Sawiris graduated from school in 1982, he became a member of the Orascom Group. He has climbed various business ladders and taken positions ever since. Nassef Sawiris is a dynamic, astute businessman. He has investments in various sectors. He has garnered a lot of wealth from various investment, business and executive roles at Orascom Construction Industries. According to Forbes, here are Nassef Sawiris’s business portfolios and investments:

• He runs Orascom Construction Industries, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa; it trades on the Euronext Amsterdam exchange.

• He has a nearly 6% stake in sportswear maker Adidas, which is considered his most valuable asset.

• 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.

• He is the CEO of Orascom Construction, an engineering and building firm, trades on the Cairo exchange and Nasdaq Dubai.

• He is among the board members of NASDAQ Dubai. Nassef Sawiris also serves as a Director of the Dubai International Financial Exchange,

• His holdings include stakes in cement giant Lafarge Holcim and Adidas; he sits on the supervisory board of Adidas.

• He is the executive chairman of Aston Villa.
• He is the chairman and CEO of Avanti Acquisition Corp; a special acquisition company created to operate by merging and acquiring existing businesses and implementing their business models.

Other memberships of Nassef Sawiris

• He is a Member of the Board of Trustees at the University of Chicago(since 2013).

• Council on Foreign Relations (CFR), Member of the Global Board of Advisors

• He is a, Member of the International Leadership Board; Cleveland Clinic

Nassef Sawiris and Government

Being the wealthiest man in a country is no child’s play. Oftentimes, one requires the support of the authorities to comfortably run one’s business.

When Nassef Sawiris’s father started building the family business, he had no support from the government. He particularly faced resistance from the Gamal Abdel Nassar Hussein- led government during his time. This crippled the growth of the business for a while. However, Nassef Sawiris is enjoying the support of the current Abdel Fattai Al- Sisi- led government. This is very similar to the kind of support Aliko Dangote enjoys from the Nigerian government.

Nassef Sawiris Family

Sawiris is married to Sherine, they have four children. Nassef Sawiris is also a Coptic Christian

Nassef Sawiris Houses

The total number of houses Nassef Sawiris owns is not publicly known. However, he lives in London and maintains a residence in New York City. It is often said that he has a house in London, Egypt, and New York worth millions of dollars. Nassef Sawiris owns one of New York City’s most expensive properties, a co-op at 960 Fifth Avenue. Sawiris paid $70 million for the penthouse apartment.

Nassef Sawiris Cars

Nassef Sawiris is a busy man, and thus he needs good cars to meet his executive needs. Being a billionaire, Nassef Sawiris can afford every expensive car ever produced. He owns a 2019 Audi Q5, a private yacht, and a private jet.

2019 Audi Q5

The 2019 Audi Q5 combines dynamic performance with a high-end cabin that offers a modern, user-friendly infotainment system along with roomy, well-padded seats. The model is a compact luxury vehicle which features energetic engines, all-wheel drive, a serene ride, and sharp handling. The Starting price of the 2019 Audi Q5 is between $37,069 – $52,672.

Nassef Sawiris Private yacht

The successful business magnate owns a private yacht worth millions of dollars. The yacht is equipped with state-of-the-art features.

Nassef Sawiris Private jet

When duty calls and Nassef Sawiris has to travel immediately, he need not worry as his private jet is always readily available.

Conclusion

As it’s popularly said and believed, the rich know how to get richer. The wealth of Nassef Sawiris keeps increasing as he continually seeks opportunities to grow his wealth. Maybe someday, he will be richer than Dangote.