Egyptian billionaire Naguib Sawiris has seen his net worth drop below the $10 billion mark after losing more than $170 million in under a month, according to the Bloomberg Billionaires Index.
Sawiris’s wealth declined from $10 billion on October 7 to $9.83 billion, reversing a strong rally earlier in the year that had made him Egypt’s first billionaire to surpass the $10 billion threshold on Bloomberg’s global rich list.
The downturn is largely linked to a slump in gold prices — a key component of Sawiris’s investment portfolio. Gold recently slipped below $4,000 per ounce, down from a record high of over $4,350 earlier in 2025.
Analysts attribute the decline to shifting investor sentiment and reduced expectations for further U.S. interest rate cuts, which had previously boosted precious metal prices.
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A significant portion of Sawiris’s wealth is tied to La Mancha, his investment firm with major holdings in gold and copper mining companies.
In October, La Mancha increased its stake in Greenheart Gold Inc. by two million shares, raising its ownership to about 5%.
The firm’s overall portfolio, currently valued at $2.44 billion, includes substantial positions in Endeavour Mining and Evolution Mining, which jointly produced 751 kilograms of gold and 76 kilograms of copper this year—figures in line with production forecasts.
Beyond mining, Sawiris maintains a robust presence in real estate development. His company, Ora Developers, continues to expand its footprint across the Middle East.
In May, the firm officially launched Bayn, a $10 billion beachfront project in the United Arab Emirates, underscoring his growing interest in luxury property investments and long-term diversification beyond mining.
Despite the temporary setback, Sawiris remains one of Africa’s most influential business figures, with diversified interests spanning mining, real estate, and telecommunications.
His fortune, though slightly diminished, continues to reflect his position as one of the continent’s wealthiest and most strategic investors.
