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Egypt IT leaders on Forbes billionaire list

Egyptian billionaires have been listed on Forbes magazine’s list of wealthiest people in the world.
IT News Africa | 30.11.2011

Egyptian billionaires have been listed on Forbes magazine’s list of wealthiest people in the world. Leading the charge is telecommunications mogul Naguib Sawiris, who has created a global telecom empire from Egypt.

Yasseen Mansour, the brother of the Former minister of transportation, who’s now facing charges of profiteering and waste of public money, is listed, along with his two brothers, on Forbes World’s Billionaires list.

New to the list, the fortune of 49-year-old Yasseen, the chairman of Egypt’s second largest real estate developer Palm Hills Developments (PHD), is worth $1.8 billion, ranking #692 on the list.

Forbes’ 2011 list this year has 14 Africans, among them 8 Egyptians, including Egypt’s wealthiest family the Sawiris family. Nassef, chairman of Orascom Construction, was ranked #182 with $5.6 Billion, Naguib of Orascom Telecom #310 with $3.5 B, and Samih, the younger brother and owner of Orascom Development #879 at $1.4 B. Their 81-year-old father and founder of the Orascom empire, Onsi Sawiris was ranked #393 with a fortune estimated at $2.9 billion.