Guess what? This is how Africa’s popular billionaires made their money

Nassef Sawiris — www.forbesmiddleeast.com

Nassef Sawiris

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Egypt’s second-richest man recently said that he had put half of his $5.7bn net worth into gold with the belief that gold prices will rally further, reaching $1,800 per ounce from just above $1,300 now.

Coming from Egypt’s wealthiest family, his father, Onsi and brother Naguib are also billionaires. In 2015, Sawiris split Orascom Construction Industries into two entities: OCI and Orascom Construction. He runs OCI, one of the world’s largest nitrogen fertilizer producers, with plants in Texas and Iowa.

Sawiris whose net worth is $6.8 billion has made a name for himself, by investing in the telecom sector in Egypt and in other markets in Bangladesh, Iraq, Pakistan, North Korea.