Inside The Investment Portfolio Of 3 Arab Billionaires

From technology to social entrepreneurship, investing in another company’s shares is one way to diversify revenue streams, and for the rich, it’s one more way to get richer. Here’s where three of the Middle East’s wealthiest individuals are investing their billions.

From technology to social entrepreneurship, investing in another company’s shares is one way to diversify revenue streams, and for the rich, it’s one more way to get richer. Here’s where three of the Middle East’s wealthiest individuals are investing their billions. Nassef Sawiris NET WORTH 2021: $8.3 billion

Egyptian magnate Sawiris announced in October 2020 that he is hoping to raise $600 million by listing his SPAC, Avanti Acquisition Corp., on the New York Stock Exchange. NNS Group and Sienna Capital plan to invest about $100 million in the blank check firm. The investment vehicle is focusing on family and founder-led European targets to investors. It is on the hunt for high-growth companies in technology, healthcare, and retail, targeting those worth more than $2.4 billion.

Last year, the construction billionaire also dabbled in sports investments. In December, NNS Group, the Egyptian billionaire’s family office, announced that it has a 5.02% stake in Madison Square Garden Sports Corp, which owns and operates the New York Knicks, Rangers, Liberty, the Hartford Wolf Pack, and the Westchester Knicks.

Sawiris teamed with Fortress Investment Group’s Wes Edens to purchase a majority stake in Aston Villa Football Club in 2018. The serial investor is also an Adidas backer and sits on the supervisory board of the German company.