Rich List

Top 8 Richest People in Egypt

6) Onsi Sawiris – $1.9 Billion

Onsi Sawiris: the patriarch of Egypt’s wealthiest family is the founder of Orascom Construction Industries. The Egyptian political uprisings in 2011 necessitated its listing to be moved to Euronext in Amsterdam by his son – Nassef who heads the company. Onsi Sawiris still owns nearly 25% of OCI.

In November 2014, OCI won a tax evasion case brought against it by the government when Mohamed Morsi was president. OCI had agreed to disburse $1 billion over five years, but appealed after Morsi was ousted. There are ongoing plans to separate its construction unit from the chemicals and fertilizers business, and list the newly formed Orascom Construction in Egypt and in the United Arab Emirates in the first quarter of 2015. All Onsi’s sons Nassef, Naguib and Samih are billionaires.

Onsi Sawiris

5) Yasseen Mansour – $2.3 Billion

Yasseen Mansour and his brothers Youssef and Mohammed run Mansour Group, which owns Caterpillar dealerships in several African countries and the sole rights to General Motors dealerships in Egypt and Iraq, as well as supermarkets, all McDonald’s 81 outlets in Egypt, and the distribution of L’Oreal cosmetics in Egypt. Yasseen, embroiled in corruption charges following the ouster of former Egyptian President Hosni Mubarak, has settled his legal issues.

He is the founder of publicly-traded Palm Hills Developments, one of Egypt’s biggest real estate developers. U.S. private equity firm Ripplewood bought a 2.3% stake in Palm Hills in May 2014 for an undisclosed amount, with its CEO appointed as the vice chairman.

Yasseen Mansour

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