Mohamed Mansour Net Worth and How He Grew to become One in every of The Richest Egyptians

Loyalty, belief, empathy, respect, dedication, and understanding; these are only a few of the qualities which have helped Mohamed Mansour emerge because the second richest man in Egypt with a web value of $2.5 billion. It should be famous although that his journey to that exalted standing was something however straightforward.

Initially born into one of the vital distinguished enterprise households within the city of Alexandria, Mansour had the most effective that life needed to supply whereas rising up. Issues nonetheless turned for the more serious after the federal government nationalized his father’s enterprise within the 60s. Extra nationalizations would come however Mansour and his father refused to surrender. They labored onerous to uphold their cherished household title and as we speak, that work has paid off. Mohamed Mansour now controls the Mansour Group, which is the second-largest firm in Egypt by income. Its holdings span about half a dozen corporations with pursuits in automotive, retail, tourism, power, and tech industries. The Mansour Group operates in over 120 nations all over the world with tens of 1000’s of workers on their payroll. Such feats have fetched Mohamed Mansour a ton of respect. He has additionally been appointed to serve in a ministerial place in his nation, a truth that may undoubtedly make his now-deceased father fairly proud.

Mohamed Mansour’s Household Made a Fortune from The Cotton Enterprise Earlier than their Firm was Nationalised by the Egyptian Authorities

Mohamed Mansour got here into this world in 1948, the scion of a distinguished enterprise household that hailed from Alexandria. His father, Lofty Mansour, had arrange a cotton firm (referred to as the Egyptian Cotton Buying and selling Firm) in 1952 and some years down the road, enterprise was booming. The corporate boasted of about 30 employees and the resultant income afforded the Mansour household the wherewithal to reside in a lavish 40-room mansion. The little Mansour and his siblings lived life to the fullest and their father endeavored to move on essential life classes to them.

One of many notable studying durations got here in 1958 when a 10-year outdated Mansour was hit by a automobile whereas crossing the highway. He was left with horrific accidents and the medical doctors contemplated amputating his leg. He stubbornly refused and proclaimed that he would get well sometime. His father supported him and so for the subsequent three years, he underwent numerous rehabilitation methods. The little boy was largely caught in a single place throughout this era however his doting dad all the time spent the evenings with him. Throughout these evenings, he taught him ideas on turn into an honorable man and entrepreneur.

Mohamed Mansour would ultimately regain using each of his legs in 1961, a lot to the delight of his dad. Their happiness nonetheless turned to sorrow two years later because the Egyptian authorities confiscated the corporate that Lofty had labored so onerous to construct up. A person who as soon as boasted of spectacular revenue now needed to depend on a authorities month-to-month stipend of $75. Such a drastic change in fortune was sufficient to throw any extraordinary fellow in despair however the senior Mansour determined to maintain on attempting. He moved out to Sudan, based one other cotton firm, and utilized his sharp enterprise acumen to develop it right into a thriving concern.

Lofty’s success as soon as extra attracted the eye of the authorities and the Sudanese authorities forcibly took over his firm in 1971. Having misplaced all that he had labored for in life twice, the senior Mansour didn’t know what to do anymore. It was his son, Mohamed Mansour, who suggested him to start out afresh, this time in Switzerland. He agreed and the cotton enterprise he arrange within the European nation would kind the premise for the billion-dollar Mansour Group.

He Studied Engineering in america Earlier than Taking Over His Father’s Firm in 1973

Whereas serving to his father to deal with nationalizations and different enterprise threats, Mohamed Mansour didn’t neglect his research. He attended the distinguished Victoria Faculty in Alexandria the place he excelled in each his teachers and athletics. He was in a position to end his secondary college schooling by the age of 14 and subsequently headed out to America the place he enrolled in North Carolina College to check engineering. Mansour’s first few years of faculty noticed him dwelling an expensive life as $200 month-to-month allowance checks rolled in from his dad.

Issues nonetheless turned for worse after his dad’s firm was nationalized. He needed to scale down his life-style and decide up numerous part-time jobs to outlive. He nonetheless managed to beat all this adversity and acquired his diploma in 1968. Mohamed Mansour then went on to acquire an MBA from Auburn College in 1971. Upon finishing his grasp’s diploma, he spent two years instructing at Auburn earlier than heading again to Switzerland in 1973 to take over his father’s firm.

Record of Instructional Establishments Attended by Mohamed Mansour

• Victoria Faculty Alexandria
• North Carolina State College
• Auburn College Alabama

Mansour is the Chairman and Founding father of Mantrac and Al Mansour Automotive

The inspiration for the Mansour Group might have been laid by Mohamed Mansour’s father but it surely was he that took it to the nice heights that it occupies as we speak. Upon taking cost of the corporate in 1973, Mansour got here up with the brilliant concept to veer away from cotton and go in new instructions. This path was automotive and he snagged a take care of Common Motors to be their sole distributor in Egypt. From solely distributing GM automobiles in Egypt, Al Mansour Automotive gained the rights to distribute GM automobiles on your entire African continent.

Al Mansour Automotive is now the most important GM dealership on the planet and in addition has unique agreements with the likes of Chevrolet. Mansour additionally has a profitable take care of the world’s largest development gear producer, Caterpillar. Underneath the phrases of the 1977 deal, his firm, Mantrac, initially secured the appropriate to solely distribute Caterpillar gear in Egypt. Mantrac’s space of protection has since expanded to sub-Saharan Africa, Russia, and Iraq. It’s now the fifth largest Caterpillar vendor on the planet.

He’s the Co-Founder and Chairman of Man Capital LLP

Mohamed Mansour’s decades-long expertise within the enterprise world means that he’s fairly attuned to sturdy rising areas and has no hesitation taking his firm in that path. It’s this indisputable fact that motivated him to hitch palms together with his eldest son, Lofty, to determine a personal funding agency known as Man Capital in 2010. Mansour had for lengthy acknowledged that expertise was the longer term and so he arrange Man Capital to allow his household’s firm to benefit from alternatives in that space.

Man Capital is now headquartered in London and has dozens of workers throughout Asia, Europe, and the U.S. They seal about two offers every year they usually have made investments in Vanguard Maritime Logistics Agency, Millennium Offshore Companies, and telecom infrastructure supplier IHS Towers. The corporate has additionally invested in tech start-ups reminiscent of Snowflake and Adyen. Mansour additionally had the nice fortune of being amongst the early buyers in large tech corporations reminiscent of Fb, Twitter, Uber, and Spotify; which means that no matter shareholdings he has there would have elevated a number of folds.

Mohamed Serves as President of Mansour Group Which Owns and Operates A number of Enterprises within the World

Mohamed Mansour and his household now home all their enterprise pursuits underneath a conglomerate referred to as the Mansour Group. The Multinational Company is the second most dear firm in Egypt. It generates annual income of greater than $7 billion due to various enterprise pursuits. Aside from Mantrac, Al Mansour Automotive, and Man Capital, there’s additionally Manfoods which has a franchising settlement with American fast-food giants, McDonald’s. They, subsequently, function tons of of McDonald’s eating places all all through Egypt. One other profitable arm of the Mansour Group is Al-Mansour Holding Firm for Monetary Investments. The subsidiary has the unique rights to distribute tobacco merchandise from Imperial Model in Egypt.

Mansour Group additionally has sole distribution rights for different overseas merchandise reminiscent of IBM, Hewlett-Packard, Microsoft, Compaq, Purple Bull, and UPS. Al Mansour Monetary additionally operates the most important grocery store chain in Egypt, Metro Markets, in addition to the low cost shops chain, Kheir Zaman.

Mohamed Mansour has additionally unfold his tentacles to different profitable areas reminiscent of actual property, tourism, telecom, media, and leisure. For example, his Palm Hills Growth is billed because the second-largest actual property developer within the nation. They deal in residential, industrial, and resort tasks and have a formidable roster of 29 tasks in West Cairo, East Cairo, The North Coast, and the Purple Sea. The corporate got here into existence in 1997 and is at the moment listed on each the London and Egypt Inventory Exchanges.

Record of Firms Underneath the Umbrella of the Mansour Group

• Al Mansour Automotive
• Mantrac
• Man Capital
• ManFoods
• Al Mansour Holding Firm for Monetary Investments
• Mansour-Maghraby Funding and Growth Firm
• ManSports

His ManSports Invested $100 Million in Famend Soccer Academy, Proper to Dream

One other space the place Mohamed Mansour is hoping to make each income and affect is sports activities. The Egyptian billionaire initially toyed with the concept of shopping for a soccer membership however his son satisfied him to spend money on a famend soccer academy referred to as Proper to Dream. The academy had been praised for its unconventional however profitable means of doing issues and so in April 2021, Mansour and his household poured in about £100 million to buy the bulk stake within the firm by way of a brand new subsidiary referred to as ManSports.

Egyptian enterprise giants Mansour Group invests $120m in Ghana’s @right2dream academy – plans to develop in #Egypt (with Cairo academy), Ghana, Denmark &, intriguingly, UK too.

Mansour Group chairman is Africa’s Seventh-richest man.

RTD’s journey goes on…https://t.co/4ghMtIESfX

— BBC Information Africa (@BBCAfrica) January 20, 2021

Underneath the phrases of the settlement, Proper to Dream will construct a soccer academy for girls and boys in Egypt. They can even launch an expert ladies’s crew within the Egyptian league in addition to enhance the actions at their academies in Ghana and Denmark. The cash can even be used to assist the operations of the skilled Danish league facet, FC Nordsjælland, which is owned by Proper to Dream. Mansour has in the meantime revealed that it’s his household’s love for soccer that impressed the deal. It’s nonetheless not some charity handout however fairly an funding that comes with enjoyable, happiness, and goal.

Record of Companies The place Mohamed Mansour Serves as a Board Member

• Social Fund for Growth
• Mohandes Financial institution
• Mantrac
• Caylon Financial institution
• Lead Basis
• Mansour Automotive Firm
• Egypt/ U.S. Enterprise Council
• Middle for Up to date Arab Research at Georgetown College
• The George Washington Faculty of Enterprise
• Coca Cola Firm
• Egyptian Inventory Change
• Trustees of the American College in Cairo.

Mohamed Mansour’s 4 Yr Tenure as Egypt’s Transport Minister Witnessed A number of Highs and Lows

Mohamed Mansour’s exploits within the enterprise world haven’t solely fetched him a formidable fortune but additionally the admiration of lots of his friends. It has additionally garnered him the respect of his countrymen and so in 2005, then-Egyptian president Hosni Mubarak tapped him to make the most of his transport automobiles experience and function the nation’s transport minister. This was a tall order, on condition that Egypt’s transportation system was a multitude, however Mansour was undeterred. He approached the duty with the identical zeal that had helped him to show his father’s small cotton firm into an enormous conglomerate.

The enterprise mogul instituted a number of reforms and utilized public-private partnerships (PPPs) in each the ports and highway sectors. Underneath his watch, the transport ministry constructed tons of of kilometers of highways and attracted $4 billion funding from the personal sector within the nation’s ports.

When it got here to Egypt’s historic railway community, which was shedding about L.E. 1.4 billion ($89.4 million) a yr, Mansour launched into an in depth reform program. He provided coaching, pay raises, and performance-based incentives to the employees of the nationwide railway firm. He additionally cracked down on non-payment of fares by passengers and elevated fares for air-conditioned and first-class coaches. All these reforms drastically diminished the rail sector’s losses and Mansour was praised for his actions. He nonetheless confronted a barrage of condemnation after some tragic accidents occurred within the nation. One was the sinking of a ferry which killed over 1000 folks in 2006. One other was a practice crash that claimed 18 lives and injured 36 folks in October 2009. The practice crash resurrected requires Mansour to step down and he threw within the towel shortly after the accident.

The ace businessman has stayed out of politics since then and has maintained that he wouldn’t be going again once more. In response to him, it was a tough expertise. He nonetheless appreciated it because it gave him the chance to step out of his regular haunts of Cairo and Alexandria and go to villages the place he noticed poor folks and on a regular basis regular life. For Mansour, his ministerial tenure was a implausible expertise that enabled him to see all sides of Egypt. He nonetheless wouldn’t be in search of a repeat as he now desires to concentrate on rising the Mansour Group into a significant multinational international firm.

Record of Awards Obtained by Mohamed Mansour

• Forbes World’s Richest Individuals Record (#670) – January 2013
• Forbes World’s Richest Individuals Record (#764) – January 2012
• Forbes World’s Richest Individuals Record ($595) – January 2011.