Egyptian billionaire Mohamed Mansour has turn into the newest addition to the cohort of African billionaires who’ve witnessed a surge of their web price, surpassing the $1 billion benchmark because the starting of this yr.
In line with Forbes, the famend American enterprise journal that tracks the fortunes of the world’s ultra-high web price people, Mohamed Mansour’s web price has skyrocketed by a staggering $1.1 billion because the begin of 2023, hovering from $2.5 billion on January 1 to a whopping $3.6 billion on the time of penning this report.
Attributed to the strong efficiency of his diversified portfolio of belongings and investments, the spectacular surge of $1.1 billion has not solely catapulted Mohamed Mansour to the echelon of Egypt’s wealthiest billionaires but additionally solidified his standing as some of the prosperous magnates in African continent and within the Arab world.
It’s price noting that, like his brothers Yasseen and Youssef Mansour, the lion’s share of Mohamed Mansour’s staggering $3.6 billion fortune emanates from his stake in Mansour Group, a well-established family-run conglomerate that was established by his father Loutfy Mansour again in 1952. This enterprise powerhouse, which Forbes values at a whopping $6 billion, has been a pivotal cornerstone of the Mansour household’s wealth for many years.
For many years, the Mansour household has been intrinsically linked with a formidable array of worldwide famend manufacturers, for which they’ve acted as respected brokers. Among the many notable manufacturers are Chevrolet, Marlboro, and Basic Motors—with the Mansour Group pioneering the institution of GM dealerships in Egypt manner again in 1975—in addition to Caterpillar, for which the household holds unique distribution rights in not solely Egypt however seven different African nations.
It’s price noting that the Mansour household’s prodigious enterprise acumen just isn’t restricted to their pursuits within the Mansour Group and Al Mansour Automotive Group. Additionally they maintain substantial pursuits in Metro, Egypt’s largest grocery store chain, and personal a number of McDonald’s franchises within the nation.