Nassef Sawiris
Nassef Sawiris | |
|---|---|
| Born | January 19, 1961 Aswan, Egypt |
| Occupation(s) | Entrepreneur, businessman |
| Years active | 1982–present |
| Known for | CEO of OCI NV, co-owner of Aston Villa F.C., co-owner of V Sports |
| Spouse | Sherine |
| Children | 4 |
Nassef Onsi Sawiris (; born 19 January 1961) is an Egyptian entrepreneur and the youngest offspring of Onsi Sawiris. By October 2021, his fortune was valued at approximately US$8.7 billion, positioning him as the wealthiest individual in Egypt.
Early life
Originating from Aswan, Egypt, Sawiris completed his education at the Deutsche Evangelische Oberschule Kairo and obtained a bachelor's degree in economics from the University of Chicago in 1982.
Career
In 1982, Sawiris commenced his professional journey with the Orascom group, overseeing construction operations after leadership transitioned from his father in 1995. He was appointed CEO of Orascom Construction Industries in 1998. When OCI SAE acquired a 50% share in Besix in 2004, he joined its board and remuneration committee, roles he maintained until 2017.
His governance experience includes board memberships at the Cairo and Alexandria Stock Exchanges between 2004 and 2007, as well as at the Dubai International Financial Exchange (DIFX) from 2008 through 2010.
January 2013 marked Sawiris’s appointment as CEO of OCI NV following its acquisition of OCI SAE. He joined LafargeHolcim’s board in 2015, having been on Lafarge SA’s board since 2008.
Through NNS Holding Sàrl Luxembourg, Sawiris secured shares in Adidas AG in October 2015 and was named supervisory director of Adidas AG in 2016.
Sawiris established Avanti Acquisition Corp in October 2020, a special-purpose acquisition vehicle aimed at European transactions. After unsuccessful acquisition attempts, Avanti was dissolved in October 2022.
Sports ownership
Sawiris has made substantial investments in sports franchises, with a particular focus on association football. Together with billionaire Wes Edens, he co-owns the football holding company V Sports, which controls Premier League club Aston Villa and holds a 29% ownership stake in Portuguese Primeira Liga side Vitória S.C..
As of March 2021, Sawiris held a 6.3% equity interest in American firm MSG Sports, the parent company of NBA's New York Knicks and NHL's New York Rangers.
Aston Villa
In July 2018, Sawiris partnered with Wes Edens through their consortium NSWE to acquire a majority 55% stake for £30 million in Championship club Aston Villa. The club was struggling financially with critical cash flow problems and faced a potential winding-up petition over an outstanding £4 million tax liability. NSWE injected considerable capital to restore financial stability.
Subsequent organizational restructuring included appointing former Liverpool executive Christian Purslow as CEO alongside manager Dean Smith. These changes contributed to Aston Villa’s promotion back to the Premier League and a record-breaking ten consecutive victories. In August 2019, NSWE purchased the remaining shares from previous owner Tony Xia by absorbing his £30 million debt owed to Randy Lerner, thereby obtaining full ownership.
By August 2022, under Sawiris and Edens’ leadership, Aston Villa had received nearly £360 million in debt-free funding. Ambitious plans to expand Villa Park’s capacity from 42,682 to over 50,000 seats are underway, including demolition of the North Stand and development of a significant retail complex; this project exceeding £100 million is fully financed by V Sports.
In 2021, NSWE rebranded itself as V Sports to advance a multi-club ownership strategy involving investments across various international football clubs.
Vitória de Guimarães
In February 2023, V Sports secured a 46% ownership interest in the Portuguese Primeira Liga club Vitória S.C. through a €5 million investment. The agreement also entails a pledge to inject an extra €2 million into the club's sports facilities within two years, alongside offering a credit facility up to €20 million. This arrangement received approval from Vitória's membership on 4 March 2023.
Other activities
- Serving on the Board of Trustees at the University of Chicago since 2013
- Participating as a member of the Global Board of Advisors at the Council on Foreign Relations (CFR)
- Holding a position on the International Leadership Board at Cleveland Clinic
Personal life
Sawiris is married to Sherine, with whom he has four children. The family resides primarily in Cairo and maintains an additional residence in New York City. He practices the Coptic Christian faith.