Sawiris Onsi Chairman of the Board of Orascom conglomerate Country: Egypt

1. Biography of Onsi Sawiris
2. Establishment of Orascom conglomerate
3. The Success of His Sons
4. Other Leadership Roles

Biography of Onsi Sawiris

Onsi Sawiris is a well-known Egyptian businessman who is the Chairman of the board of Orascom conglomerate. In 2007, Forbes magazine estimated his net worth to be $9.1 billion. He is one of the few businessmen who can be considered as a self-made individual. Onsi's fortune, which he earned through telecommunication systems, was built from scratch. Thanks to his persistence, diligence, intelligence, and determination, today his three sons have the opportunity to manage one of the largest companies in the world - Orascom conglomerate.

Establishment of Orascom conglomerate

Orascom conglomerate, a prominent private company, was established in 1950. It is divided into three major divisions that focus on telecommunications, tourism, and construction. It is difficult to say why Onsi Sawiris chose these particular sectors, but the profits generated by the conglomerate each year indicate that the choice was a successful one. For instance, comparing the results of 2006 and 2007, Onsi Sawiris rose from 158th to 129th place in Forbes' list of the world's richest people.

The Success of His Sons

Onsi Sawiris' three sons followed in his footsteps and are now managing directors of the conglomerate, with each overseeing a specific division. Onsi Sawiris resides in his home country of Egypt with his family. However, his business ties extend throughout the East and Asia. This is primarily due to the high demand for construction in the East, especially in developing countries. Additionally, Egypt and its neighboring countries have always been attractive for tourists, which is why the tourism industry in Egypt flourishes.

Other Leadership Roles

Despite his age, Onsi Sawiris holds several prominent positions in companies such as Misr Exterior Financial Investments Company (Chairman of the Board) and YMCA in Cairo (Vice President). Additionally, he is the President and Chairman of the board of his brainchild, Orascom conglomerate. According to his own words, he does not interfere with the policies implemented by his sons in the divisions they manage. As he notes, adult children are not obligated to listen to their parents. This provides the opportunity for his sons to further increase the family's wealth and possibly become known as the richest individuals in the world one day.