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Key Points
- The Ghabbour family’s stake in GB Corp. has lost $25.65 million in value as investors offload shares amid ongoing market pressures.
- A sharp 8.50% drop in stock price has pushed GB Corp.’s market capitalization below $325 million, deepening losses for shareholders.
- A $100,000 investment in GB Corp. at the start of 2025 is now worth $90,480, reflecting sustained market volatility.
The Egyptian multimillionaire Ghabbour family has taken another financial hit, with the market value of their controlling stake in GB Corp. dropping by nearly $26 million. A sharp selloff in the company’s shares on the Egyptian Exchange (EGX) has fueled the decline, adding to earlier losses.
Investors dump GB Corp. shares, wiping millions off family’s stake
The Ghabbour family holds a 63.4 percent controlling stake in GB Corp., equivalent to 688.2 million shares. Over the past two weeks, the value of this holding has fallen by EGP991.02 million ($19.65 million) as investors continue to offload shares in Egypt’s leading automotive company.
This latest drop follows an earlier $13.63 million decline between Jan. 1 and 14, when the family’s stake slipped from EGP 11.79 billion ($233.51 million) to EGP11.1 billion ($219.88 million) amid a broader downturn in GB Corp.’s stock.
GB Corp.’s market cap falls below $325 million
Founded in 1985 by the late Egyptian auto magnate Raouf Ghabbour, GB Corp. continues to be a leading player in the automotive sector across the Middle East and North Africa. The family’s stake underscores their central role in guiding the company’s strategic direction.
GB Corp.'s stock has tumbled 8.50 percent on the EGX, dropping from EGP16.94 ($0.33586) on Jan. 29 to EGP 15.50 ($0.3073) at the time of writing. The decline has shaved the company’s market capitalization to below $325 million, delivering notable losses to shareholders.
Family’s stake loses over $25 million in market value
The continued slide in GB Corp.’s share price has erased EGP1.29 billion ($25.65 million) from the value of the family’s stake. It now stands at EGP10.67 billion ($211.49 million), down from EGP11.66 billion ($231.14 million) just two weeks ago.
Despite the losses, the Ghabbours remain among the wealthiest investors on the EGX, maintaining their stronghold in Egypt’s industrial sector. However, ongoing market pressures are chipping away at shareholder value.
Your money and your life
Since the start of the year, GB Corp. shares have dropped 9.52 percent, reflecting broader investor caution. A $100,000 investment in the company at the beginning of 2025 would now be worth just $90,480—a $9,520 loss—as market volatility continues to weigh on the stock.
