What is Naguib Sawiris's Net Worth?
Naguib Sawiris is an Egyptian billionaire businessman, investor, and political figure who has a net worth of $8.5 billion. Naguib Sawiris rose to prominence by transforming his family's telecom holdings into a global empire. As the eldest son of Onsi Sawiris, founder of the Orascom conglomerate, Naguib played a critical role in expanding the family's business footprint beyond Egypt. He built Orascom Telecom into one of the largest telecommunications companies in the Middle East and Africa, with operations spanning dozens of countries. In 2011, he orchestrated a multi-billion-dollar merger with Russian telecom firm VimpelCom (now VEON), which significantly reshaped the global telecom landscape. Beyond business, Sawiris has also become an influential voice in Egyptian politics and media, founding the Free Egyptians Party and investing heavily in Arabic news and entertainment platforms. Known for his outspoken personality, Naguib Sawiris remains one of the most prominent and provocative figures in the Arab world.
Early Life and Education
Naguib Sawiris was born on June 15, 1954, in Egypt into the wealthy and influential Sawiris family. His father, Onsi Sawiris, founded the Orascom Group, which began as a construction company and later evolved into a diversified conglomerate. Naguib studied in Switzerland at the Zurich Institute of Technology and later earned a diploma in Mechanical Engineering and a Master's degree in Technical Administration from the Swiss Federal Institute of Technology (ETH Zurich). His international education provided him with the technical knowledge and global perspective that would prove essential in expanding the family business.
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Orascom Telecom and Business Empire
Naguib joined the family business in the 1980s and eventually took charge of Orascom's telecommunications arm. Under his leadership, Orascom Telecom Holding (OTH) became one of the fastest-growing mobile operators in emerging markets, with successful operations in countries such as Egypt, Algeria, Tunisia, Pakistan, Bangladesh, and North Korea (under the Koryolink joint venture). OTH gained a reputation for pioneering telecom expansion into challenging and underserved markets.
In 2011, Sawiris sold the majority of Orascom Telecom to VimpelCom in a deal worth over $6.5 billion. The merger created the world's sixth-largest mobile telecommunications provider by subscribers at the time. Despite the sale, the Sawiris family retained significant influence over the remaining telecom assets through other holding structures.
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Investments and Diversification
After exiting most of the telecom business, Sawiris shifted focus toward media, real estate, tourism, and gold mining. He owns majority stakes in various television and news outlets, including ONTV and Euronews, and has positioned himself as a vocal advocate for press freedom in the region.
Sawiris is also the chairman of Orascom Investment Holding and has invested in luxury resorts in Egypt and Europe, including the Red Sea resort town of El Gouna. In recent years, he has turned his attention to gold, becoming a major shareholder in La Mancha Resources, a mining investment company with interests in Africa and Latin America.
Political and Social Influence
In the wake of the Egyptian Revolution of 2011, Sawiris founded the Free Egyptians Party, a liberal political party advocating for secularism, individual rights, and economic modernization. The party quickly became one of the most prominent liberal forces in post-Mubarak Egypt, though internal disputes and political turbulence diminished its influence in later years.
Sawiris has frequently spoken out on issues of religion, politics, and civil liberties in Egypt, often stirring controversy. Despite facing criticism and occasional legal threats, he has remained a persistent and visible figure in public discourse.
Philanthropy
Through the Sawiris Foundation for Social Development, Naguib and his family have contributed significantly to education, healthcare, job training, and poverty alleviation in Egypt. The foundation is one of the largest private philanthropic organizations in the country, supporting both grassroots initiatives and large-scale infrastructure projects aimed at sustainable development.