loutfy mansour net worth

'You know, Chelsea owes him 2billion, but Chelsea don't have the money. Yasseen Mansour's Net Worth and How He Became One of Africa's Richest Wyss was not charged or named by prosecutors, but an indictment made reference to the 'CEO of Synthes' - a position he held at the time. Europe, Menlo Park, China), This describes the type of investor the person is (e.g. Loutfy Mansour is the Co-Founder and CEO at Man Capital. Nationality: Egyptian. Since its inception, the company has been a pioneer in the industry, setting the stage for the development of the automotive industry across its countries of operation. [2] It is the largest General Motors dealer in the world, and the fifth largest distributor of Caterpillar Inc. products globally. Kroenke, 74, originally thought he had successfully bought the baseball side, but was beaten by a winning bid of 1.3bn - a record sum at the time. As Mansour learned on all those summer jobs, the human side is important too. Yasseen Mansour net worth 2023 is estimated at $1.1 billion making him one of the richest men in Egypt and among the richest in Africa at the moment according to Forbes. In 1977, Wyss founded Synthes USA, a medical device manufacturer that makes implants to mend bone fractures. The 49-year-old reportedly. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. OTSs owner was its founder, who didnt want to see his lifes work get broken up by private equity. Few are as close as the Mansours, whose conglomerate the Mansour Group has 60,000 employees and revenues of $6bn, but is still very much a family-run business. We use cookies and other tracking technologies to improve your browsing experience on our site, show personalized content and targeted ads, analyze site traffic, and understand where our audiences come from. But he was fired after just three days because his boss had seen his medical report and wasn't keen on him working there with mild eczema. The business flourished until it was nationalised by the then Egyptian president Gamal Abdel Nasser, forcing the original Loutfy to relocate to Sudan to work for a cotton family. The Mansours own Mansour Group, a massive Egyptian conglomerate with $7.5b in annual revenues, and Loutfy is the head of its investment arm, Man Capital. Angel, Fund of Funds, Venture Capital), Number of Investments the Individual has partnered in, Announced Date: Date when the Investment is announced, Organization Name: Name of the organization that received the investment, Investor Name: Name of the investor who participated in the Investment, Lead Investor: This field indicates whether an investor led/organized the investment, Funding Round: Name of the funding round where the Investment is made, Money Raised: Amount of money raised in Funding Round, Total number of current Jobs the person has, CB Rank (Hub): Algorithmic rank assigned to the top 100,000 most active Hubs. What did you think of this? Slowly, I learnt. Did that put pressure on him? [1] The subsidiary was also an early investor in technology companies including Facebook, Twitter, Spotify and Uber. The Royal Mansour experience begins before guests even set foot in the hotel. In the early 1970s, Loutfy opened an office in Geneva, Switzerland, from which he expanded his cotton brokerage business internationally while continuing to develop Sudanese exports. Global Rank #: #2035. The 49-year-old reportedly tried to buy Chelsea in 2019, but his bid was rejected as too low; while a 2.3bn offer for rivals Tottenham also fell in. Country : Egypt. And it all started with one idea. Yasseen Mansour Net Worth 2023, Business, Family | Glusea.com He soon established a successful and powerful partnership with General Motors. The Mantrac subsidiary was formed to manage the Caterpillar business, and Mantrac eventually secured Caterpillar rights to Sub-Saharan Africa, Russia and Iraq. Mantrac Group is the exclusive dealer of Caterpillar products for Nigeria, Ghana, Sierra Leone, Liberia, Kenya, Tanzania, Uganda, Iraq, Egypt and parts of Russia. Sir Jim is a lifelong Manchester United fan, although he also has a season ticket at Chelsea. It became the second-largest cotton exporter in the world. The Group is one of the top five Caterpillar dealers globally and was named as the world . Palm Hills Developments, a leading real estate developer in the Egyptian market, was established. In 2020, he was slammed for following a raft of rich Britons including Topshop boss Phillip Green and his wife Tina in relocating from the UKtoMonaco where he is expected to save an estimated 4billion in tax. Net Worth 2021: $1.5 B. 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Loutfy Mansour - Co-Founder & CEO @ Man Capital - Crunchbase General Motors appointed Al Mansour Automotive as its official dealer in Iraq. 'For the British people's sake, I hope that there will be another vote when all the facts are on the table,' he said. In 1952, he created a successful business in cotton exporting, and Loutfy Mansour and Sons was established. Technology is part of that, he says, but it can also overwhelm. He is also aware of responsibilities from one generation to the next. We bring managers into the companies when we need to, for several months and in one case for a year, he says. Ramy Youssef on the many connections between his new HBO special 'Feelings' and his critically acclaimed Hulu series 'Ramy.'. Al Mansour Automotive stays on top of the cars market in Egypt. Mansours father Mohamed served as transport minister in the regime of former president Hosni Mubarak, although his tenure was brief and he had left office before the Tahrir Square demonstrations in 2011 led to the overthrow of the government. The company also has a private investment firm, Man Capital, based in London. Mansour is also a season ticket holder at Stamford Bridge, and he's already involved in sports as he acquired Right To Dream last year. Back then, a lot of things were done on gut and hunch and if you have that, that is second to none, but now the world is obsessed with numbers., One of the first people in Egypt to use the internet in the 1990s, Mansour is a keen user of technology. Now, it is expanding the dream to change society through soccer https://t.co/UGmpd2ToE9 pic.twitter.com/9MOiHI9so2. GNS Egypt (rebranded as Infort in 2016) was founded to provide learning opportunities, e-security and application development for its clients. Significant co-investment in the first private sector, GM-operated vehicle factory in Egypt, manufacturing the Chevrolet Minibus. [16] Manfoods was founded in 1994 when McDonald's franchised their first restaurants in Egypt to Mansour Group. Call (800) 327-5050 or visit gamblinghelpline.ma.org (MA), Call 877-8-HOPENY/text HOPENY (467369) (NY). In 1975, Loutfys business character and values of integrity, hard work and confidence inspired him to return to Egypt and branch out into a new industry. Mohamed Mansour founded the Lead Foundation, which has provided over 2.5 million loans to small businesses and underprivileged women in Egypt. Genlerbirlii Mansour Group acquired Unatrac, Unilevers Caterpillar dealership in East and West Africa. Number of Organizations that the person founded, Algorithmic rank assigned to the top 100,000 most active Investors, The organization associated to the person's primary job, Where the person is located (e.g. In September 2019, Forbes estimated his net worth at US$1.5 billion. In the UK, meanwhile, the highest tax rate is 45% on income above 150,000-a-year. Like many successful families, the Mansours have developed political links over the decades. Advertisement Read Sheikh Mansour net worth Galatasaray. We dont have an exit strategy. The Group has since continued to expand globally and as of 2021 was active in more than 12 countries. GM were talking to banks about possible partners, and they said there were these three American-educated brothers in Alexandria, Mansour told the FT in his first ever interview. Former Egypt President Gamal Abdel Nasser nationalized his father's original cotton trading business. analyse how our Sites are used. , updated This page is not available in other languages. Youssef Mansour is chairman of family-owned conglomerate Mansour Group, which was founded by his father Loutfy (d.1976) in 1952. Expansion is not the only aim, though. [10] The company consists of 10 employees across the US, Europe and Asia, and averages about 2 deals a year. The conglomerate originated with the cotton business founded in 1952 by Mansours grandfather (also called Loutfy), who was one of the first Egyptians to graduate from Cambridge university. In case Mansour acquires Chelsea, he will be the second Egyptian club owner in the Premier League, with the first being Aston Villa co-owner Nassef Sawiris. You cant look at a spreadsheet and say this is how the business is going to grow, you have to understand the nuts and bolts of how the business works, and the managers.. We don't like squandering money or we wouldn't be where we are today. The aim is to make just one or two acquisitions a year. From a young age Mansour was immersed in the business. The Al-Mansour International Distribution Company (AMIDC) was created underneath Mansour Financial to manage the tobacco business. 12:29 BST 03 Mar 2022 I get one every Fathers day and birthday, and things like that. Boehly andWyss are worth an estimated 9billion between them, with Mansour boasting a much smaller fortune - much of which will be wrapped up in the family business. Oops. Roman Abramovich made it clear that hes not going to rush through a deal to sell his beloved Chelsea, and governmental powers willing, he will hopefully get a chance to do so over the next few weeks, and make the best possible deal for the future of the club (beyond just the fact that hes leaving us debt-free) and for the future benefit of the charitable organization hes decided to set up with the net proceeds. Man Capital LLP, the global investment arm of the Mansour Group, was founded to invest in a number of businesses and ventures around the world. The family are well connected politically. At the ripe old age of 86, he is by far the oldest bidder for the West London side. #4 Mohammed Mansour. Yasseen Mansour - The Richest Arab Billionaires 2021- Forbes Lists Sector : Diversified. On behalf of Boot Hill Casino & resort (KS). [1], At that time, General Motors was looking for Egyptian partners to help them expand, and were connected with the Mansour family. Gambling Problem? According to Forbes, the renowned U.S. business magazine that tracks the fortunes of the world's ultra-high net worth individuals, Mansour's net worth has skyrocketed by a staggering $1.1 billion since the start of 2023, soaring from $2.5 billion on Jan. 1 to a whopping $3.6 billion at the time of writing this report. Copyright 2023 Mansour Group All Rights Reserved Born in 1909 in Egypt, Loutfy Mansour founded and began building the family business empire. Loutfy Mansour died in 1976 and left his business empire to his four sons, Ismail, Youssef, Mohamed and Yasseen, and his daughter, Rawya. . What did you find interesting? Net worth: $2.5 billion Rank in 2020: 7 Net worth in 2020: $3.3 billion Self-made Origin of wealth: Diversified Industry: Diversified Age: 72 . Mohamed Mansour oversees family conglomerate Mansour Group, which was founded by his father Loutfy (D.1976) in 1952 and has 60,000 employees. Copyright 2023 Mansour Group All Rights Reserved My aim is to win, Sign up for the See our ethics statement. Loutfy Mansour, MAN Capital LLP: Profile and Biography He only started his first business weeks before his 40th birthday and founded Ineos aged 45 in 1998. Loutfy Mansour returned to Egypt and founded Mansour Automotive Company which became the dealer for GM in Egypt. Your email address will not be published. [2], In 2021 Mansour Group invested $120 million in a takeover of Right to Dream Academy and announced it was forming a new entity, ManSports.[22]. By choosing I Accept, you consent to our use of cookies and other tracking technologies. Loutfy Mansour is CEO/Co-Founder at MAN Capital LLP. Net worth: $2.9 billion. It is a conscious decision to have the family name on the business, and it is a big deal. Sir Jim, founder and boss of chemical giant Ineos, is a football obsessive who recently attracted controversy by his decision to abandon Britain for the tax haven of Monaco. Newspaper articles suggested the billionaire was consideringputting in an offer for the club, although his spokesman later said there was 'no substance' to the reports. Champion's Profile Net Worth $2.7 billion Mohamed Mansour oversees family conglomerate Mansour Group, which was founded by his father Loutfy. [18], Mantrac was created by the Mansour Group in 1977 as the sole authorised dealer for Caterpillar Products in Egypt. The business that Loutfy Mansour founded passed to his children sons Ismail, Youssef, Mohamed, Yasseen and daughter Rawya following his passing in 1976. Sir Jim Ratcliffe, Britain's richest man and a Brexit supporter turned resident of tax-free Monaco, has also been put forward as a bidder, although his spokesman said the reports were unfounded. We use It comes amid reports Abramovich may still have 'weeks or months' before any possible sanctions,with the Foreign Office and National Crime Agency unable to prove 'reasonable grounds' for taking action, according to The Times. Boehly's philanthropic activities include serving on the board of New York-based charity Faces - Finding a Cure for Epilepsy and Seizures - and Brunswick School, a private school in Connecticut. What started as a makeshift academy in one couple's home recently attracted a $118 million investment from a global conglomerate. Why not make use of them?. 21+ (18+ NH/WY). Mantrac was the fifth largest Caterpillar dealer in the world. Luxe fashion designer, Sandra Mansour discusses her Spring/Summer '20 collection. "I get one every Father's day and birthday, and things . Is that because they find the situation in their homeland untenable? Mohamed Mansours father lost his wealth after a wave of socialist Arab nationalism swept Egypt and Sudan, now the billionaire talks to Forbes about how he rebuilt his family business. It's part of our DNA, trying to spend sensibly.'. 'Me and three others received an offer to buy Chelsea on Tuesday from Abramovich. It is much more analytical now, Mansour replies. Bachelor of Business Administration (B.B.A. Could Mansour Group's Loutfy Mansour Become Chelsea FC's - CairoScene Weve been investing in Egypt for decades.. From 1976 to 1981, he served as the CEO of the Loutfy Mansour Trading Company, the . Coming to London was a strategic move, he says. If you buy something from an SB Nation link, Vox Media may earn a commission. [3], Mansour Financial, also known as Al-Mansour Holding Company for Financial Investments, manages the tobacco partnership with Imperial Brands. Forbes considers Wyss as 'among the most philanthropic people in the world', and he hasdonated hundreds of millions of dollars to environmental charities and universities. It has also acquired the back catalogues of top music acts ranging from Bruce Springsteen to The Killers. Labour's Chris Bryant has previously alleged the tycoon is selling his home and an apartment because he is 'terrified of being sanctioned', adding that he feared the government will soon run out of time to act. After Russian billionaire Roman Abramovich announced his decision to sell London-based football club Chelsea FC, Egyptian billionaire Loutfy Mansour is one of several names that have been reported as potential suitors in a potential multi-billion dollar deal. As a kid I would go to the office. The businessman also came under fire when it emerged he had furloughed almost 800 members of staff from his luxury hotel groups. His net worth is $ 2 billion. Please enter a valid email and try again. Change: - $400 M. Age : 75. The way you create value in a company is through its people, so I had to get to know the people at several levels and to work my way up to get credibility with the family and my colleagues. He became chief executive in 2006. It also operates the Egyptian franchises for a number of firms includingMcDonald's, Chevrolet, Red Bull, UPS and Imperial Brands. All Rights Reserved. The company is the second largest company in Egypt by revenue. Major League Soccer awarded its 30th team to the city of San Diego, California. The factory bottles water from a reservoir that is over 1,000 meters deep in the Siwa oasis. Required fields are marked *. Man Capital co-founded 1984 Ventures, a California-based venture capital fund targeting early-stage investments in high-growth technology businesses, and is an anchor investor in the firms inaugural fund. The pair, who have two sons, divorced in 1995. Related by financial asset: Palm Hills Developments SAE. Eighty per cent of family businesses dont succeed in the third generation. 'I was fascinated.'. As of 2015. Previously, several former Synthes executives were jailed after the firm's use of an untested medical procedure led to the deaths of three people. The 36-year-old owns home electronics company Haier Pakistan as well as MG Motors Pakistan. He was educated internationally and in 1933 was awarded a BA at St. Johns College, Cambridge. Mansour Group is the exclusive distributor of GM vehicles and Caterpillar equipment in Egypt and several other countries. Net worth: 5billion The US investment tycoon is a sports fanatic and former amateur wrestler who has repeatedly voiced interest in buying a Premier League club. Loutfy Mansour - Man Capital His sons were in the US at the time, stranded until Egypt moved back to a market economy in the early 1970s. [1] The business was nationalized by Gamel Nasser in the 1970s, forcing Mansour to Sudan and eventually Switzerland, where he continued to work in the cotton business. Reports of several investors or investment groups circling in the water had already emerged earlier this week, with Swiss billionaire Hansjrg Wyss revealing his own involvement. We dont want deal-junkies, Mansour says. In 1984, GM opened its first factory in Egypt, and 1985 the first GM vehicle was produced in the country. We dont have to report something every quarter. There is no financial engineering, and even the 2012 acquisition of OTS Logistics a company with $700m of sales was completed without debt. His brothers Yasseen and Youssef, who share ownership in the family group, are also billionaires; his son Loutfy heads private equity arm Man Capital. I continue to believe there is a global opportunity for the best clubs.'. Younger brothers Mohamed and Yasseen are also billionaires and part owners of Mansour Group. The Mansours own Mansour Group, a massive Egyptian (well, global) conglomerate with $6b in annual revenues, and Loutfy is the head of its investment arm, Man Capital. Sector : Diversified. The billionaire was born in Bern on September 19, 1935, and raised in a small apartment with his two sisters. Mansour Group is the exclusive distributor of GM vehicles and Caterpillar equipment in Egypt and several other countries. They said, If one day we can sell 40 cars, then that would be amazing, he says. Mansour Group invested in this leading provider of offshore jack-up accommodation services vessels to oil and gas companies in the MENA and Asia-Pacific region. When we talk to management we say that we will hold it for the next 30 years, he says. We are all getting older and it is a decade of your life to resolve that.'. [7], Mansour Auto, also known as Al-Mansour Automotive, imports and sells General Motors (GM) automobiles. The 33-year-old has a season ticket at Stamford Bridge and believes that he can put together a bid for the club, sources to the Telegraph. But withAbramovich demanding 3bn for the club, it is unclear whether any of the bidders could muster the financial firepower needed for the deal. Mansour says he feels a natural affinity with other family-owned businesses. Mansour Group - Wikipedia Loutfy maintains relationships with many people -- family, friends, associates, & neighbors -- including Quinton Wells, Barbara Peter, Jerry Mccoy, Marsha Ingber and Quinton Wells, Barbara Peter, Jerry Mccoy, Marsha Ingber and It is a far cry from the beginnings of the family business. Now, the plan is to grow the brand globally. His net worth has been reported as between 12 and 14bn. [6] The company also private labels consumer goods such as Sunshine Tuna, Labanita and Belhana dairy products and Hayat Natural drinking water. The government totally confiscated the Mansour Familys businesses and their assets sequestrated. In an interview with the FT in 2016,Mansour spoke lovingly of his 'close-knit' family and described his fascination with business from an early age. My father always said: I wont leave you the biggest companies or the most money, but I will leave you the best name. You have to take care of that.. Mansour's father, Mohamed, served as transport minister under former presidentHosni Mubarak, although he left office before widespread protests broke out against the regime in 2011 which led to the Egyptian Revolution. Sunshine brands of seafood and frozen vegetables was launched. Youssef Mansour Biography and Net Worth - The Xplorion See terms at draftkings.com/sportsbook. Mansour Group is the exclusive distributor of GM vehicles and Caterpillar . The largest supermarket chain in Egypt with over 100 stores, catering to a high-quality shopping experience. Beneath his sharp suit, the 33-year-old wears a number of bracelets given to him by his wife and son. I wish to explore this. Mansour studied at Georgetown University in the US, and worked for Goldman Sachs for two years before going into the family business. References This page was last edited on 28 April 2023, at 16:22 . 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Egyptian billionaire Loutfy Mansour has become the latest businessman to distance themselves from buying Chelsea Football Club as Roman Abramovich 's attempts to sell continues. Then I'd go into accounting and see them with their calculators,' he said. [10] The family transferred its entire net worth to the new standalone entity incorporated in London. Today, it is one of the largest GM distributorships in the world. Youssef Mansour is chairman of family-owned conglomerate Mansour Group, which was founded by his father Loutfy (d.1976) in 1952. Loutfy Mansour is the son of Egyptian billionaire Mohamed Mansour and . Mohamed Mansour - The Richest Arab Billionaires 2022 - Forbes Lists There is no recent news or activity for this profile. The Mansour Group was founded more than 60 years ago and now has over 60,000 employees, a presence in more than 100 countries and total revenues exceeding $7.5 billion. He has a daughter with his second wife Alicia. From 1976 to 1981, Youssef worked as the CEO of the Loutfy Mansour Trading Company, the Chevrolet dealer in Egypt and part of General Motors.
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