Key points
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Ahmed El-Sewedy loses $65 million from Elsewedy Electric decline.
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Elsewedy Electric shares dropped 7.21 percent in nine days.
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The billionaire still holds a 25.52 percent stake.
Egyptian billionaire Ahmed El-Sewedy, the chief executive officer of Elsewedy Electric, has seen his wealth dip by more than $65 million in just over a week.
The decline comes as shares in his family’s multinational electrical company fell sharply on the Egyptian Exchange.
El-Sewedy, who controls more than a quarter of the company, had watched his fortune climb earlier this month to above $900 million.
But the latest market correction has chipped away at that figure, underscoring the volatility facing large shareholders in emerging markets.
Elsewedy Electric shares fall amid market caution
Elsewedy Electric, founded by the El-Sewedy family in 1938, has grown from a small Cairo electrical shop into one of the Middle East and Africa’s biggest industrial players.
As reported by Billionaires.Africa, the company manufactures cables, transformers, meters, and other infrastructure solutions critical to power projects across the region.
The company’s shares fell 7.21 percent over nine trading days, sliding from EGP80.30 ($1.65) on Aug. 17 to EGP74.51 ($1.53) on Aug. 26.
That drop erased $65.09 million from El-Sewedy’s stake, which now stands at $837.64 million.
The market capitalization of Elsewedy Electric slipped below $3.5 billion as investors weighed ongoing macroeconomic risks.
Analysts say Egypt’s equities market has been marked by caution this quarter, with foreign participation slowing.
Wealth impact of Elsewedy Electric decline
El-Sewedy owns about 546.2 million shares, equal to a 25.52 percent stake. While the billionaire remains one of the most influential industrial figures in North Africa, the decline highlights the risks tied to concentrated holdings in a single stock.
Elsewedy Electric’s year-to-date performance has been muted, down 1.81 percent. A $100,000 investment made in January would now be worth about $98,190.
Despite the dip, institutional investors still see long-term potential. The company’s strong pipeline of energy and industrial projects continues to attract backing, especially with Egypt’s infrastructure push and rising demand for electricity.
Outlook for Egypt’s leading energy firm
For El-Sewedy, the $65 million decline is a reminder of the fragility of wealth tied to emerging markets. Short-term swings in investor sentiment can cause sharp shifts in valuation.
Still, Elsewedy Electric remains one of Egypt’s largest industrial conglomerates, employing thousands across the region.
Its long-term growth prospects remain tied to government-led infrastructure expansion and a regional shift toward reliable power generation.
Analysts suggest that while volatility may persist, the fundamentals of the business give investors reason for confidence.
For El-Sewedy, the immediate setback may be another chapter in the decades-long story of a family business turned multinational leader.
