Egyptian billionaire Naguib Sawiris’ net worth hits $11.3 billion as $400 million flows into gold

Egyptian billionaire Naguib Sawiris has added another chapter to a career defined by calculated moves, with his net worth climbing to $11.3 billion as he deepens a long-held conviction in gold. The increase, up from $10.6 billion at the start of the year, reflects a $700 million gain tied largely to the rise in gold prices, which have advanced more than 36 percent year-to-date, lifting the value of his mining assets and reinforcing his standing among Africa’s richest individuals.

At the center of this wealth expansion is a portfolio that has steadily tilted toward mining over the past decade. Sawiris has committed an additional $400 million to gold investments in recent months, directing the funds into a mining company in which he already holds a significant stake. He has not named the company, but his exposure is largely concentrated through La Mancha Resources, the Luxembourg-based vehicle he acquired in 2012 for $492 million. Through La Mancha, he holds key positions in Endeavour Mining and Evolution Mining.

Gold assets surge on safe-haven demand 

The numbers show how sharply that bet has paid off. His private mining assets are now valued at $8.63 billion, up from under $8 billion at the start of 2026. His stake in Endeavour Mining has risen to $1.98 billion, while his holdings in Evolution Mining have increased from $450 million on Jan. 1 to $520 million. These gains have been supported by a market that has increasingly turned to gold amid geopolitical tensions, a shift that aligns with Sawiris’ long-standing view of the metal as a store of value in uncertain times.

Beyond mining, his portfolio still reflects ties to the business empire built by his late father, Onsi Sawiris. He holds a $72.4 million investment in Orascom Construction and a $55.3 million stake in Orascom Investment Holding, where he serves as chairman. The firm has operated as a holding company since 2011, with interests spanning telecom, media and technology, sectors that once formed the backbone of his fortune.

That earlier chapter was defined by a landmark telecom deal in 2010, when Sawiris sold major assets, including Italy’s Wind Telecomunicazioni and a controlling stake in Orascom Telecom Holding, for $1.5 billion in cash and a 20 percent stake in Vimpelcom. The transaction generated $300 million, and follow-up deals by 2012 added another $4 billion to his wealth, giving him the flexibility to reposition his investments over time.

Counter-cyclical entry during sector downturn 

His pivot to gold, however, has been less about timing the market and more about conviction. He began building his position when the sector was out of favor, acquiring La Mancha at a point when prices had retreated from post-financial crisis highs and investor interest had waned. He continued to add exposure through periods of volatility, a strategy that now appears to be paying off as global uncertainty drives demand for the metal.

That approach extends beyond his core holdings. Through AKH Gold, a subsidiary he majority owns, Sawiris has signed exploration contracts for nine blocks in Egypt’s eastern desert and secured licences in Uzbekistan. He has also pointed to Sudan as a future target once conditions stabilize, citing what he sees as untapped potential in the country’s mineral resources.

Portfolio reshaped by commodity allocation 

His latest $400 million commitment underscores a shift in how he is positioning his capital. Funds have moved away from domestic real estate toward assets he views as more resilient in periods of global stress. For Sawiris, the move is not a short-term trade but part of a longer plan built on years of accumulation and a consistent belief in gold’s role during uncertain times.

With his fortune now at $11.3 billion, the results of that strategy are becoming clearer. The rise in gold prices has not only lifted the value of his holdings but also reinforced a decision he made years ago, when the sector drew little attention. Today, as markets respond to geopolitical strain, Naguib Sawiris’ early bets are translating into measurable gains, reshaping both his portfolio and his place among the world’s wealthiest investors.