From $11.8 to $10.2 Billion Over Weeks.. Nassef Sawiris Loses $1.6 Billion From His Wealth as Gold Prices Decline Globally

Egyptian businessman Nassef Sawiris's wealth has declined by more than $1.5 billion since tensions related to Iran war escalated, affected by the sharp drop in global gold prices, which directly impacted his investments in the precious metal.

According to the Bloomberg index, Sawiris's wealth peaked at $11.8 billion on February 28, 2026, before declining to approximately $10.2 billion as gold prices fell.

These losses, estimated at around $1.6 billion, resulted from the close correlation of his portfolio with the gold sector, particularly through his investments in mining companies, coinciding with the metal declining by approximately 20% since the crisis began, under pressure from dollar strength and rising bond yields.

Nevertheless, the long-term outlook for gold remains positive, supported by persistent geopolitical risks and inflationary pressures, which could support opportunities for price recovery later.
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