Lifestyle

Egypt’s Richest Man Nassef Sawiris Resides in $24M Mansion Solely to Aid the Needy

Nassef Sawiris possesses opulent properties in London, New York City, and Egypt, but never in Los Angeles. A few months ago, Sawiris paid $24 million for a stunningly exquisite and picturesque property in Trousdale Estates, one of the most expensive neighborhoods in Beverly Hills.

Sawiris, the smallest of three sons of Onsi Sawiris, was born and raised in Cairo. His father expanded the Orascom Group into an international conglomerate with interests in construction, tourism, hospitality, technology, and the media. Nassef has emerged as a shrewd entrepreneur with investments in some of the world’s most valuable corporations and sports teams. Forbes reports that Sawiris, the largest shareholder in Adidas, is worth $7 billion, more than his two elder brothers combined.

However, Sawiris may be best known in the United States for Kanye West. In September, West captioned a Sawiris photo with the phrase “Sooooo much positivity” on his prominent Instagram account.

The Beverly Hills modernist Sawiris residence from the late 1960s is situated on one of Trousdale’s most coveted ridges. By the middle of the twenty-first century, the single-story house had undergone a series of disastrous restorations that left it resembling an oddly Greco-Roman take on modernism, replete with dozens of white columns.

In 2009, the property was acquired by seasoned real estate developer Edward “Eddie” Israel. Israel, a Los Angeles landlord of apartments and condominiums, purchased the dilapidated home for $5,1 million and engaged architect William Hefner to restore it. After a number of years, the house was demolished and enlarged.

The estate is now more contemporary than ever with exceptionally high ceilings, glass walls, and blonde hardwood flooring. In 2017, it was featured on the cover of the out-of-print book “Trousdale Estates: Midcentury to Modern in Beverly Hills” by Steven Price.