Table of Contents
Key Points
- Ahmed Ezz’s stake in Ezz Steel rose by over $110 million in 10 days, reflecting renewed investor confidence in the Cairo-based steel giant.
- Ezz Steel’s stock surged 13.59% on the Egyptian Exchange, boosting its market cap to over $1.3 billion and strengthening its regional leadership.
- The gains offset a significant portion of Ezz's earlier $280.85 million losses in 2024, showcasing Ezz Steel’s recovery and strength in MENA's steel industry.
Egyptian steel magnate Ahmed Ezz has experienced a significant rebound in his wealth, driven by a surge in the market value of his stake in Cairo-based steel giant Ezz Steel. Over the past 10 days, the value of Ezz’s holdings has climbed by more than $110 million, reflecting growing investor confidence in the company’s prospects.
Ezz, who owns 360.7 million shares — representing a 66.4 percent stake in Ezz Steel — has seen the value of his shares rise from $815.18 million to $925.94 million. This recovery comes after a challenging year in which his wealth suffered a steep $250 million decline, driven by Egypt’s currency devaluation and the resultant economic pressures.
Ezz Steel’s performance reflects renewed confidence
Ezz Steel, a leading player in the MENA region's steel market, operates advanced facilities capable of producing 7 million tons annually, including over 5 million metric tons of high-quality steel. Its efficient operations and competitive scale place it ahead of regional rivals such as Saudi Arabia's Hadeed and Emirates Steel.
On the Egyptian Exchange (EGX), Ezz Steel’s stock price climbed 13.59 percent in just 10 days, rising from EGP114.01 ($2.26) to EGP129.5 ($2.57). This growth has pushed the company’s market capitalization above $1.3 billion, delivering significant returns to investors and boosting its reputation as a resilient player in the steel industry.
Ezz Steel’s resilience boosts Ahmed Ezz’s wealth by $110 million
For Ahmed Ezz, the recent surge in Ezz Steel’s performance has solidified his position as one of Egypt’s wealthiest individuals. His stake in Ezz Steel surged from EGP41.13 billion ($815.18 million) on Jan. 5 to EGP46.71 billion ($925.94 million).
This rally highlights Ezz Steel's ability to navigate challenging economic conditions, reaffirming its role as a cornerstone in MENA’s steel industry and a critical driver of regional growth.
