What It’s Like To Be A Billionaire In Egypt

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Let’s be honest, Egypt isn’t a country that often comes to mind when thinking about where billionaires would choose to live. But in reality, Egypt is home to a good number of billionaires who were born into wealthy families. Take Nassef Sawiris as the perfect example. He is the richest billionaire in Egypt, but also enjoys the finer things in life around the world, like a New York City penthouse worth over $70 million. Since Egypt’s poverty rate is declining and at its lowest in over twenty years, the country is expecting a 66% growth of the elite in about five years. So Egypt is getting ready by building luxury homes, hotels, restaurants, and shopping malls. While many wealthy Egyptian families send their kids abroad for quality education, the kids are coming home and bringing back what they learned and applying it to their family’s businesses. There’s no telling how much wealth future generations will develop since, unlike their billionaire grandparents, have a knack for technology and learning. Real estate purchases among the elite are incredibly popular, with the elite taking advantage of lower prices, giving them more money to either spoil themselves with expensive things like clothes and fine dining, or saving that extra money and investing it. Egypt is truly become a playground for billionaires, and the number is only going to increase in the coming years.

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Written by: Alex Matsuo
Narrated by: Alex Matsuo
Edited by: M.A.

For copyright matters please contact us at: legal@valnetinc.com

00:00 Intro
00:13 Nassef Sawiris
01:29 Naguib Sawiris
02:57 Mohamed Mansour
04:05 Youssef Mansour
04:46 Yassin Mansour
05:18 Food & Shopping in Egypt
06:03 Inheriting Generations
06:31 Investment Opportunities
06:48 Decline in Poverty Rates”

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