Nassef Sawiris, the Egyptian billionaire who has made a name for himself as a prominent businessman, was born on 19 January 1961. He is the youngest of the three sons of Onsi Sawiris, with his brothers being Naguib and Samih. As of October 2021, Nassef Sawiris boasted an estimated net worth of US$8.7 billion, making him not only the richest Egyptian but also the fourth richest individual in Africa.

Nassef Sawiris pursued his secondary education at the Deutsche Evangelische Oberschule Kairo. After completing his secondary education, he embarked on an academic journey that would later prove instrumental in his career. He pursued a bachelor’s degree in economics at the University of Chicago and graduated in 1982, armed with knowledge and a thirst for success.

Nassef Sawiris: Building a Business Empire

Nassef Sawiris’s journey in the business world commenced in 1982 when he joined the Orascom group. Over the years, he played a pivotal role in the group’s construction activities. The turning point in his career came in 1995 when the management control of Orascom Construction was transferred to him from his father, Onsi Sawiris. His ascent continued, and he assumed the position of CEO of Orascom Construction Industries following the company’s incorporation in 1998.

Sawiris’s influence extended to other prominent organizations. He served on the board of Besix, a construction company, following OCI SAE’s acquisition of a 50% stake in the firm in 2004. Additionally, he contributed his expertise as a board director at the Cairo and Alexandria Stock Exchanges from 2004 to 2007. His contributions were not limited to Egypt, as he also held a position as a board director at the Dubai International Financial Exchange (DIFX) from July 2008 to June 2010.

In January 2013, he took on the role of CEO of OCI NV when the company acquired the former parent company OCI SAE. His remarkable journey continued as he was elected as a board member of LafargeHolcim in 2015. This appointment was the result of his earlier service on Lafarge SA’s board, which began in 2008.

In October 2015, Nassef Sawiris made headlines by acquiring a stake in Adidas AG through his investment company, NNS Holding Sàrl Luxembourg. His involvement with Adidas AG further solidified his reputation as a savvy businessman. He was subsequently appointed as a supervisory director of Adidas AG, headquartered in Herzogenaurach, Germany, in 2016.

In October 2020, Sawiris founded Avanti Acquisition Corp, a Special-purpose acquisition company (SPAC), showcasing his entrepreneurial spirit. Although his attempt to acquire another company through Avanti Acquisition did not materialize as expected, his boldness and innovative thinking were evident.

Venturing into the World of Sports Ownership

Apart from his successful business ventures, Nassef Sawiris demonstrated a keen interest in sports ownership. In particular, he invested heavily in football teams. Together with billionaire Wes Edens, he owns V Sports, a football club holding company that boasts ownership of the Premier League team Aston Villa. Additionally, they have a 46% stake in Primeira Liga team Vitória S.C., signaling their influence not only in English football but also in Portuguese football.

Furthermore, V Sports is in discussions to establish a Major League Soccer team in Las Vegas, even registering the name ‘Las Vegas Villains’ within American and European copyright, highlighting their global sports expansion plans.

As of March 2021, Sawiris’s sports ownership extended to American company MSG Sports, with a 6.3% stake. This company holds assets that include the NBA team New York Knicks and NHL team New York Rangers, adding diversity to his sports portfolio.

Aston Villa’s Transformation

Nassef Sawiris, alongside Wes Edens, made a significant impact on the world of football by purchasing a 55% controlling stake in English Championship club Aston Villa in July 2018. The club had been facing substantial financial challenges under previous owner Tony Xia, including a looming winding-up order by HMRC due to an unpaid £4 million tax bill.

Under the ownership of NSWE, the club underwent a significant transformation, with substantial investments addressing financial issues. A change in management and playing staff, including the appointment of CEO Christian Purslow and manager Dean Smith, led to Aston Villa’s return to the Premier League. The club even achieved its longest-ever winning streak of 10 games.

Following their promotion, NSWE acquired the remaining shares owned by Xia, solidifying their ownership of the club. Their investments were substantial, with approximately £360 million of debt-free share capital injected into the club.

Plans for expanding Villa Park from 42,682 seats to over 50,000, including demolishing the North Stand to create a major retail venue, were well underway. This extensive project, estimated to cost over £100 million, was set to be funded entirely by V Sports. In 2021, the NSWE holding company rebranded to V Sports, signifying their ambition to invest in other clubs worldwide through a multi-club model.

Venturing into Portuguese Football

In February 2023, V Sports took another significant step by agreeing to purchase a 46% stake, valued at €5 million, in the Portuguese Primeira Liga team Vitória S.C. This investment was accompanied by a commitment to infuse an additional €2 million into sporting infrastructure over the next two years and provide a credit line of up to €20 million. The agreement was ratified by Vitória’s members on 4 March 2023.

In conclusion, Nassef Sawiris’s journey is one of remarkable success in both business and sports ownership. From his early education to his strategic business moves and forays into the world of football, his legacy is a testament to his vision and determination. His contributions have left a profound impact, both in the boardroom and on the pitch. Zatrun.com’s exploration of his life and achievements sheds light on the far-reaching influence of this exceptional individual.