The Richest Man In Egypt Just Became The Largest Adidas Investor

Egypt’s richest man, billionaire Nassef Sawiris, has purchased a six percent stake in Adidas, making him the single largest investor in the company. According to a statement released by Adidas, Sawiris’s investment vehicle, NNS Holding, owns 4.3 percent of the company, while Sawiris owns a 1.7 percent stake of the company. Though investments in companies are usually not disclosed publicly, the announcement was required as a result of Mr. Sawiris having surpassed the five percent threshold in stock ownership. With a net worth of roughly $5.1 billion, Nassef Sawiris is the richest man in Egypt, and is a member of the richest family in Egypt. Sawiris and his two brothers, Naguib and Samih, each run one of three companies that are part of the Orascom Group, a business conglomerate formed by their father, Onsi Sawiris. Nassef is the CEO of Orascom Construction Industries, one of the top engineering, procurement, and construction contractor and fertilizer producers in the world, and has served as CEO since the company was formed in 1998. In addition to running OCI, he serves as a board member of Besix, a Belgian construction company, is a board member of the aforementioned NNS Holding, and is a director at LafargeHolcim, a French industrial company. Sawiris is no stranger to large investments. He is the third largest investor in the aforementioned LafargeHolcim, and is also the largest investor in OCI N.V., a Dutch fertilizer company. And it appears that Adidas may not be done bringing in new investors. According to Adidas spokesman Jan Runau, the company has “a constructive dialogue with current and potential investors and welcomes every new shareholder.”