Richest man

Chapter 45 Africa: Ansi Saveri
——Ansi Saveris and Family: Building Egypt's New Pyramid Ansi Saveris is one of only two world-class billionaires on the African continent. Ky Oppenheimer. In 2000, Ansi Saveris and his family were included in the "Forbes" list of the world's richest people with a net worth of US$21 billion, ranking 194th.Due to the bursting of the Internet bubble and the economic downturn in Egypt, the market value of the shares held by the Saveris family fell. In 2001, they only ranked 10th on the "Forbes" list with assets of US$490 billion. Since 2002, the family has dropped out of the Forbes list of billionaires over $10 billion.However, the situation changed suddenly.In [-], the Saveris family rose again and ranked [-]st on the "Forbes" list of the world's richest people with US$[-] billion.

Finding a Career in Perseverance
Ansi Saveris was born in 1930 in a Christian family in Sohag Province, Upper Egypt.His father, a lawyer and a landowner, was a typical nobleman in Upper Egypt.Anxi's elder brother also became a lawyer after graduating from university. According to the custom, Anxi should inherit his father's land management.After finishing high school from elementary school in a mediocre manner, he entered the Agricultural University to study according to his father's wishes.Four years later, he got his degree, but apart from not wanting to be a government servant, he has no specific plans for his future.

In 1950, Ansi Saveris, who had no interest in agriculture, and a few friends founded a construction contracting company in Upper Egypt, and later he moved the company to the capital Cairo.He gradually became one of Egypt's best-known engineering contractors by contracting to dig aqueducts and build roads. In 1961, the Egyptian government nationalized large enterprises, Ansi was appointed as a director of the company, received a monthly salary from the government, and was prohibited from leaving Egypt. In 1966 his ban on going abroad was lifted and he went to Libya to continue his architectural career.

In 1978 at Camp David, north of Washington, Egypt signed a peace agreement with Israel.This incident isolated Egypt in the Arab world, and many Egyptians who settled in other Arab countries had to return to Egypt.Ansi Saveris also returned to Cairo to establish Olascom, an engineering contracting and trading company with only five employees.With his shrewd business acumen and outstanding communication skills, the company's business expanded rapidly.Through cooperating with a series of large international companies, his Olascom Company once again became the main private engineering contractor in Egypt, and gradually expanded to other industries, and finally formed three major departments of construction, communication and tourism.In the early 90s, Egypt began privatization reforms, and the Saveris family's business expanded rapidly. From 1997 to 2000, its property increased from US$6 million to US$21 billion. In 1999, the Olascom Group was listed on the Cairo Stock Exchange.

"Olascom has developed because we can provide effective solutions to our customers on challenging projects," said Ansi Saveris, whose company operates in Egypt and the Middle East. Contracted many complex engineering projects, including sewage treatment plants, railways, five-star hotels, skyscrapers and office buildings.During his stay in Libya, his three sons who were sent to study in Western countries also returned to China one after another and became his right-hand man in his career.

The Three Feet of Olascom: Construction, Electronics and Telecommunications, Tourism

Today's Olascom Group consists of three major companies, Olascom Construction Industries, Olascom Technologies, and Olascom Projects and Tourism Development.

The construction industry company is the headquarters of the Saveris family, and has now developed into one of the most famous large construction companies and large building material suppliers in Egypt and even the Middle East.Ansi Saveris remains chairman of the company and his third son, Nassef Saveris, is CEO.Nassef graduated from the University of Chicago, specializing in economics.After taking over the company in the 90s, he expanded its operations through an ambitious diversification strategy.In addition to construction and building materials, Nassef is also widely involved in petrochemical, transportation, port construction and other fields, making the company a large group enterprise with dozens of wholly-owned or joint-stock companies.The construction industry company has undertaken many landmark infrastructure constructions in Egypt, including the world's largest Suez Canal Railway Bridge, a number of luxury hotels, and the three tallest skyscrapers in Egypt.It is also the partner of many large western construction companies in Egypt.

Olascom Technologies was established in 1987 and is currently one of the major information technology companies in Egypt.Ansi Saveris' eldest son, Najib, who graduated from the Zurich Polytechnic Institute, is the company's president.The company's business includes sales, support and service of computer hardware and software, network equipment, test and measurement equipment, analytical instruments, security systems and telecommunications products.It is the product agent of many multinational companies in Egypt, and its partners include leaders in the information technology industry such as Hewlett-Packard, Compaq, APC, Microsoft, Oracle, Novell, Netscape, Lucent and Motorola.Olascom Technologies is the main public payphone operator and mobile phone operator in Egypt, and also provides distribution of network services, value-added services and software development.Through this flat expansion, the company has gained a head start in the Egyptian information technology and telecommunications market. Since the mid-90s, the business of this group company has expanded to more than 20 countries in the Middle East and North Africa. In 2003, it even obtained a mobile communication business license from Iraq.

Compared with the above two companies, Olascom Project and Tourism Development Company has a smaller share in the family group.The company, run by Ansi Saveris' second son, Sami, a graduate of the Berlin Institute of Engineering and Technology, was established to "develop and build world-class leisure resorts in Egypt."Their first investment was a success, and the established El Gouna recreational area has become one of the main tourist attractions on the Red Sea coast of Egypt.It includes 6 hotels, 315 villas and apartments, a Nubian-style village and local airport, large shopping malls, specialty restaurants, golf courses, marinas, schools and hospitals.Spin-off industries from the construction of El Gouna also include a private utility company, a bottled water company and a brewery.In Cairo and around Egypt, the company also owns numerous restaurants, cinemas, clubs, golf courses and other entertainment and leisure projects.However, due to the impact of the Palestine-Israel conflict and the economic downturn in Egypt in recent years, many of the company's projects have suffered from depression, especially the Taba resort center established near Israel with few tourists.

Be the protector of your son

On the outside, Anci Saveris did not look like a rich man. He liked to laugh, but he was a little shy around strangers.He always gets up at six in the morning and goes to bed early at night like the traditional Egyptians.He insists on walking for an hour every day, and usually spends his leisure time at home watching TV or playing chess with old friends.He lived in a small apartment building overlooking the Nile.It's more of a middle-class place, with no brand new Mercedes around, much less Rolls Royces favored by wealthy collectors.His home has a few pieces of Chinese furniture, the sofas and armchairs are rustic and comfortable, and the side tables do not see the usual knick-knacks that are common in wealthy homes.

The Saveris father and son have made Olascom one of the largest and most successful enterprises in Egypt through their hard work in the construction, electronics and tourism industries.They have even been dubbed the Egyptian version of the Rockefellers by the locals.Saveris Sr. had a good relationship with his sons, and the family often dined together.He said his son is his greatest pride.

When his sons were studying abroad, the old Saveris always let them go back to Egypt during the holidays to experience their homeland.He also visits his son several times a year.When his sons graduated, he urged them to return home because their future was in Egypt.The three sons returned to work with him and were given managerial authority in different parts of the company.Saveris Sr. said he gave them little advice on how to run the company.He said: "The new generation has its own methods and ideas. When I want them to understand my views, I must use a gentle way. Of course, I have also been rejected by them." He treats his son like a friend, so the generation gap The problem is not outstanding.They talked frankly about everything, and the sons did not take obedience to their parents for granted.

In the eyes of the old Saveris, his family had not achieved any extraordinary success. "We just play by the rules and try to do our best. We work hard and abide by the law. Why shouldn't we do things well?" He regrets that at the age when he plans to retire, he still faces a lot of business in the company expansion. “I used to be against this kind of diversification. For example, I don’t like movie theaters, but the contracts to renovate old theaters and build new theaters kept coming. Then I realized that this is a market demand, and we can’t avoid it.”

Old Saveris didn't like his sons to be too adventurous, "They are young and ambitious, and I must tighten the reins to prevent them from being too aggressive."He said he believed his sons needed his protection, "which is why I still work every day now".

(End of this chapter)