• Samih Sawiris transferred all Orascom Development shares to Naguib, accelerating succession after the former CEO’s unexpected departure.
• The billionaire retains 51% of the Swiss company and selected projects in Morocco and Senegal.
• He plans to donate 30% of his wealth to charitable causes, including a heart hospital project in Rwanda.

Sawiris

Egyptian billionaire Samih Sawiris reveals that he completed a full transfer of Orascom Development Holding to his only son, Naguib, four years ago. The succession followed the sudden exit of former CEO Khaled Beshara. Sawiris explains that, rather than returning to manage the company himself, he preferred to hand full control to Naguib.

The transfer also gave Naguib complete decision-making freedom, including the right to delist the Swiss-listed company, a move Sawiris publicly confirmed.  Samih Sawiris discusses this on Al-Nahar TV’s AL Soura Program hosted by Lamis El Hadidy. He goes on to say that his son insisted on full autonomy before returning from the US including the freedom to delist the company from the Swiss stock exchange.

The billionaire divided his wealth strategically among his children. Naguib received all shares of Orascom Development, while Samih retained 51% of the Swiss parent company. He also kept projects in Morocco and Senegal. His daughters were allocated cash and stakes in other undisclosed companies.

Beyond Wealth

Beyond wealth, Samih is increasingly focused on philanthropy. He plans to donate roughly 30% of his fortune to charitable causes before his death. This includes supporting a heart hospital project with Dr. Magdi Yacoub in Rwanda, among other initiatives.

Now 64, Sawiris is enjoying life beyond business. He pursues personal projects like playing piano and exploring film directing ideas. His approach reflects a shift from wealth accumulation to legacy-building and personal fulfillment.

Samih has built a substantial footprint in real estate and tourism. His companies span seven countries and more than 110 million square meters of land, marking him as a significant player in the MENA business landscape.