
Ahmed Ezz’s stake in steel company nears $1 billion
This marks a rebound from the previous month, when his stake had fallen below $970 million, signaling a strong recovery in his financial position.
This marks a rebound from the previous month, when his stake had fallen below $970 million, signaling a strong recovery in his financial position.
This represents a sharp reversal from the recent highs recorded in February, when the market value of his stake had surged to nearly $1 billion.
Ezz, who controls 66.4 percent of the Cairo-based steel giant—equivalent to 360,727,978 shares—has suffered a loss of $280.85 million in his stake since the start of the year.
Ezz Steel’s scale positions it as an industry leader, surpassing competitors like Saudi Arabia’s Hadeed and Emirates Steel.
This wealth rebound follows a recent rally in Ezz Steel’s stock price on the Egyptian Exchange (EGX), reversing earlier losses.
This loss reduces his total holdings to below $700 million. He remains the second-richest investor on the Egyptian Exchange and one of Egypt's wealthiest individuals.
This marks a substantial recovery from the loss the company recorded during the same period in 2023.
According to data tracked by Billionaires.Africa, Ezz’s stake in Ezz Steel has climbed EGP5.28 billion ($113.13 million) over the past nine days.
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel, or 329,816,198 shares.
Despite the drop in his stake’s value, Ezz remains a prominent figure in Egyptian business and a leading investor on the Egyptian Exchange.
Egyptian billionaire and prominent industrialist Ahmed Ezz owns 60.7 percent of Ezz Steel (or 329,816,198 shares).
Ezz, an influential figure in the Egyptian industrial landscape, currently owns 60.7 percent of Ezz Steel, equivalent to 329,816,198 shares.
This reduction in its share price has brought the company’s market cap. below $1.5 billion, resulting in substantial losses for shareholders, including Ezz.