Khaberni - Egyptian businessman Naguib Sawiris opened his files revealing a severe financial loss he incurred as a result of an investment decision taken in a moment of anger, amounting to about 500 million euros.
He explained, during a television interview on the "Journey of the Billion" program on Al-Nahar channel, that his reaction to someone prompted him to double his investment in a company in which he already owned 10%, to purchase an additional share of the same percentage without sufficient study, before this coincided with a global market crash and he lost the entire amount.
Sawiris confirmed that the experience taught him a harsh lesson: "No financial decisions while angry," adding that he faced other losses in his career due to overconfidence, emphasizing that calmness and precise calculations are the foundations of success in the investment world.
Despite these experiences, Sawiris clarified that money was never his primary goal; he grew up in a family that believed in contentment and moderation, which made him keen on staying close to people.
He recounted a humane incident involving a taxi driver to whom he gave a large sum of money after reaching his destination, to the driver's surprise exclaiming: "That's too much," to which Sawiris responded: "Keep it with you for the times."
He revealed that about 70% of his fortune is invested in gold, while the rest is spread across various projects, noting that his first billion was achieved with the establishment of "Orascom."
He affirmed that he measures his success by the value of the companies he owns, not by his ranking among the wealthy, adding that he has never regreted any decision or deal that was not concluded.
