Egypt is home to a constellation of successful and influential business leaders in Africa and the Middle East. However, among them, the Mansour brothers stand out as a true powerhouse. These visionaries, innovators, and philanthropists have built a family empire that spans across various sectors and countries, contributing significantly to the economic and social development of their nation and beyond. With their extraordinary achievements, the Mansour brothers are not only billionaires but also role models for aspiring entrepreneurs. In this captivating article, we will delve into the fascinating lives of the Mansour brothers and explore how they rose from humble beginnings to become one of the most powerful and influential families in the region
Mohamed Mansour
Egyptian businessman and former politician, Mohamed Mansour, is the eldest of the Mansour brothers and the head of Mansour Group, one of the largest and most diversified family-owned conglomerates in Egypt. The group was founded by his father, Loutfy, in 1952 and has interests in the automotive, equipment, retail, and services sectors. Mansour Group is the exclusive distributor of General Motors vehicles and Caterpillar equipment in Egypt and several other African countries, and it operates Metro, the largest supermarket chain in Egypt, with exclusive distribution rights for Gauloises cigarettes and L’Oréal products. The group has a massive workforce of over 60,000 employees and boasts an impressive annual revenue of over $7.5 billion.
Mansour’s business acumen is matched by his passion for philanthropy and politics. He served as Egypt’s Minister of Transportation from 2006 to 2009, where he oversaw major infrastructure projects and reforms. He later resigned from his post after a deadly train crash in 2009, but returned to his business activities and expanded Mansour Group’s presence in Africa and beyond.
In addition to his political and business endeavors, Mansour is a passionate supporter of education and entrepreneurship initiatives in Egypt and Africa. He founded Lead Foundation, a non-profit organization that provides microfinance services to low-income entrepreneurs in Egypt, and is a co-founder and board member of the American University in Cairo’s School of Business, where he established the Mansour Center for Entrepreneurship with a $10 million donation. He is also a member of the advisory board of the London Business School’s Middle East Centre.
Mansour earned his bachelor’s degree in engineering from North Carolina State University and a master’s degree in business administration from Auburn University. He holds dual citizenship in Egypt and the United Kingdom and currently resides in London with his wife and two children. Mansour’s son, Loutfy, heads the private equity arm of Mansour Group, Man Capital.
Youssef Mansour
Youssef Mansour, the middle brother in the Mansour brothers family, is a prominent figure in Egypt’s business world, serving as the chairman of Mansour Group’s consumer division, which includes Metro, the largest supermarket chain in Egypt, and the sole franchisee of McDonald’s in the country. He is also a major shareholder in Palm Hills Developments, one of the leading real estate companies in Egypt.
Since joining Mansour Group in 1976, Youssef Mansour has played a pivotal role in growing the family business into a regional powerhouse. He spearheaded the acquisition of exclusive distribution rights for General Motors vehicles and Caterpillar equipment in Egypt and other African markets, while also diversifying the group’s portfolio into retail and fast food sectors. Under his leadership, Metro has emerged as the top supermarket brand in Egypt, while McDonald’s has become a household name since its introduction in 1994.
Youssef Mansour is also a significant investor in the real estate sector. In 2005, he co-founded Palm Hills Developments with his brother Yasseen. The company has since grown into one of the largest developers of residential and commercial properties in Egypt, boasting a land bank of over 40 million square meters and more than 30 projects across the country. As chairman and a 20% stakeholder in the company, Youssef Mansour continues to drive the company’s success.
Youssef Mansour’s academic credentials are impressive, holding a bachelor’s degree in engineering from North Carolina State University and a master’s degree in business administration from Auburn University. He resides in Cairo with his wife and four children, one of whom is Farida, the CEO of Man Foods, the company that operates McDonald’s restaurants in Egypt.
Yasseen Mansour
Yasseen Mansour, the youngest of the Mansour brothers, is a prominent figure in the business world as the chairman of Palm Hills Developments, one of Egypt’s leading real estate companies. Along with his brother Youssef, Yasseen co-founded the company in 2005 and has since amassed a 17% stake in the business.
Despite beginning his career at Mansour Group in 1986, where he held various roles in the automotive and equipment divisions, Yasseen is best known for his contributions to the real estate sector. Palm Hills Developments has more than 30 projects across the country and owns a land bank of over 40 million square meters, making it one of the largest developers of residential and commercial properties in Egypt.
Yasseen also owns and operates several hotels and resorts in Egypt and abroad, including the Royal Mansour Marrakech, a luxury hotel in Morocco that was commissioned by King Mohammed VI. He is also the owner of the Four Seasons Hotel Cairo at Nile Plaza, the Four Seasons Resort Sharm El Sheikh, and the Four Seasons Hotel Alexandria at San Stefano.
Yasseen Mansour is a graduate of George Washington University, where he earned a bachelor’s degree in business administration. He lives in Cairo with his wife and four children and is a shareholder in Mansour Group, where he oversees the company’s real estate and hospitality ventures.
The Mansour Brothers Worth
The Mansour brothers are among the richest people in Egypt and Africa, with a combined net worth of over $6 billion as of March 2023. According to Forbes, Mohamed Mansour is the wealthiest of the three, with a net worth of $3.6 billion, making him the 10th richest person in Africa and the 786th richest person in the world. Youssef Mansour is the second richest, with a net worth of $1.5 billion, ranking him as the 18th richest person in Africa and the 2126th richest person in the world. Yasseen Mansour is the third richest, with a net worth of $1.3 billion, placing him as the 19th richest person in Africa and the 2448th richest person in the world.
CONCLUSION
The Mansour brothers are a remarkable example of how a family business can grow and thrive in a challenging and dynamic environment. They have built a global empire that spans across various sectors and countries, while maintaining their family values, long-term relationships, and growth mindset. They have also made a positive impact on their society and region through their investments, philanthropy, and political involvement. The brothers are not only billionaires, but also visionaries, innovators, and philanthropists who have inspired generations of entrepreneurs and leaders in Egypt and beyond.
FAQs About The Mansour Brothers
- Q: Who are the Mansour brothers?
- A: The Mansour brothers are Mohamed, Youssef, and Yasseen, who are the founders and board members of Mansour Group, a global family-owned conglomerate with interests in automotive, equipment, retail, and services. They are also among the richest people in Egypt and Africa, with a combined net worth of over $6 billion as of March 2023.
- Q: How did the Mansour brothers start their business?
- A: The Mansour brothers started their business as a cotton exporter in Egypt in 1952, following their father Loutfy Mansour, who was one of the first Egyptians to graduate from Cambridge. Their business was nationalized by Gamel Nasser in the 1970s, forcing them to relocate to Sudan and Switzerland. They returned to Egypt in the early 1980s and secured the exclusive distribution rights for General Motors vehicles and Caterpillar equipment in Egypt and other African markets. They later diversified their portfolio into retail and fast food sectors, establishing Metro as the dominant supermarket brand in Egypt and bringing McDonald’s to the country in 1994. They also co-founded Palm Hills Developments, one of the largest real estate developers in Egypt, in 2005.
- Q: What are the Mansour brothers’ roles and responsibilities in Mansour Group?
- A: The Mansour brothers share ownership and management of Mansour Group, which comprises six divisions: Al-Mansour Automotive, Mantrac, Mansour Financial, Manfoods, MMID, and Man Capital. Mohamed Mansour is the head of Mansour Group and oversees its automotive and equipment divisions. Youssef Mansour is the chairman of Mansour Group’s consumer division, which includes Metro and McDonald’s. Yasseen Mansour oversees Mansour Group’s real estate and hospitality ventures and is the chairman of Palm Hills Developments.
- Q: What are some of the Mansour brothers’ achievements and challenges?
- A: The Mansour brothers have achieved remarkable success in growing their family business into a regional powerhouse with operations in 100 countries and revenues exceeding $7.5 billion. They have also contributed to the economic and social development of Egypt and Africa through their investments, philanthropy, and political involvement. Some of their challenges include navigating the political turmoil and economic instability in Egypt and other markets, dealing with competition and regulation in their sectors, and managing succession and governance issues within their family business.
