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12 Things You Didn’t Know About Nassef Sawiris

12 Things You Didn’t Know About Nassef Sawiris

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Nassef Sawiris, 53, is Egypt’s richest man. With a net worth of $6.9 billion, he makes most of his money in construction through his company, Orascom Construction Industries. Projects include chemical plants and residential complexes. He is credited with creating 29,108 jobs. Here are 12 things you didn’t know about Nassef Sawiris.

Source: VenturesAfrica.

Wikipedia.org
Wikipedia.org

He has an international education

Sawiris attended secondary school at the German International School of Cairo in Egypt before moving on to earn his bachelor’s degree in economics at the University of Chicago.

Wikipedia.org
Wikipedia.org

He has two brothers

Sawiris is the youngest of three brothers — all entrepreneurs. His siblings are Naguib Sawiris and Samih Sawiris. Naguib is CEO at Orascom Telecom Media & Technology and Sahim is the head of a development company that builds resorts around the world.

Sources:Forbes.com, Forbes.com 

Forbes.com
Forbes.com

 

He was charged with tax evasion

The Sawiris family faced tax evasion charges in 2013, with Nassef facing three years in prison. Orascom Construction Industries agreed to pay back the Egyptian tax authority in 10 installments between 2013 and 2017 and he was acquitted of all charges.

Source: Dailynewsegypt.com

Wikipedia.org
Wikipedia.org

His family is philanthropic

The Sawiris family started the Sawiris Foundation for Social Development in 2001. The foundation’s goal is to create jobs, encourage Egyptian entrepreneurs and, as the chairman put it, “to invest in human welfare and sustained development, and provide vital safety nets and much-needed services in some of our most deprived communities.”

Source: Sawirisfoundation.org 

Wikipedia.org
Wikipedia.org

His home was raided as a child

Sawiris’ brother, Naguib, admitted that after their father’s company was nationalized when they were children, authorities came to their home and searched the house.

Source: Cnn.com

Micorex.hu
Micorex.hu

He’s brought in great investors

Nassef has landed investors and partnerships with big names. Orascom Construction Industries owns 50 percent of BESIX group, one of the largest Belgian construction groups, and has a joint venture with Swiss cement manufacturer Holcim.

Source: Euroasiaindustry.com 

Afri-culture.com
Afri-culture.com

 

He’s considered the solid-but-slow brother

Nassef is the richest of his three brothers. Brother Samih said, “Nassef is like a slow-moving tank, Naguib is a racing car and I am coming on my donkey.”

Source: Euroasiaindustry.com 

Africaranking.com
Africaranking.com

 

He’s not much of a planner

In an interview with Bespoke Magazine, Sawiris said, “I don’t believe in master plans. I believe in a vision that stays dynamic and suits the area, the people that live in it, your clients, and the circumstances.” He said when he started with Orascom he didn’t even know it could lead to a career for him.

Source: Bespoke-magazine.com

Wikipedia.org
Wikipedia.org

 

He interviews fishermen

Sawiris said that when scouting oceanfront properties for his business ventures, he interviews local fishermen, telling them his requirements for land. They’ll send him the right way, he said.

Source: Bespoke-magazine.com

Ahram.org.eg
Ahram.org.eg

He claims to be eco-concious

Sawiris says Orascom Construction Industries aims to be a carbon-neutral entity that generates as much energy as it consumes. His company is also building shale gas plants in the U.S. to exploit the natural gas trapped in sedimentary rocks.

Source: Upenn.edu

Curbed.com
Curbed.com

 

He owns the most expensive co-op in New York City

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. The building counts among its residents some of New York’s elite and wealthy.

Source: 6sqft.com 

Nydailynews.com
Nydailynews.com

He is on a lot of boards

Sawiris is affiliated with 62 executive boards in seven organizations spanning eight different industries. Some of these board memberships include being vice chairman of the BESIX Group, director at Nile City Investments and managing director at Orascom Construction Industries.

Source: Bloomberg.com