Sawiris Reaches $12.2B as Gold Bull Run Continues

Naguib Sawiris, an Egyptian billionaire, has surpassed $12.2 billion in net worth, according to the Bloomberg Billionaires Index.

This marks a record for any Egyptian billionaire and places him among the world's 300 wealthiest individuals, ranking 294th globally.

The surge in his wealth is largely due to the value of his gold mining investments, particularly through La Mancha Holdings, which he founded in 2012. The Luxembourg-based platform has seen significant gains from its stakes in Endeavour Mining and Evolution Mining.

Gold prices have been trading above $4,300 an ounce, driving Sawiris' holdings higher and establishing him as one of the biggest individual beneficiaries of the commodity's multi-year bull run.