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YALLA Yacht – Impressive $80M Superyacht

The luxury YALLA yacht is a multi-award-winning yacht built by CRN Yachts. The YALLA was delivered from CRN’s Ancona shipyard in 2014.

The award-winning interior was designed by CRN’s interior design team in collaboration with Droulers Architecture.

Omega Architects contributed to the exterior design of the yacht. The YALLA is the very definition of a luxury experience on the water.

YALLA yacht interior

The stunning interior of the YALLA yacht was designed by Droulers Architecture in collaboration with CRN’s in-house Interiors and Design Office.

There is accommodation for 12 guests in 6 deluxe staterooms, including an owner’s suite and VIP staterooms.

The guest accommodations all have the best quality furnishings, amenities, and en-suite bathrooms.

There are facilities for 22 highly trained crew members, making the yachting experience of the highest quality for guests.

The yacht has many features that include a beach club that creates an area for indoor-outdoor living level with the water.

There is a pool, a well-equipped gym, and plenty of areas for socializing and al fresco dining opportunities.

There is an abundance of options for sunbathing on the YALLA. The garage has a limousine tender and many water toys that offer fun and action while aboard the yacht.

The interior of the YALLA yacht was a finalist for The ShowBoats Design Awards 2015 for Interior Design in a Motor Yacht over 500GT.

The exterior of the YALLA yacht was a finalist for the Naval Architecture Award on a Displacement Motor Yacht and the Exterior Design & Styling Award on a Motor Yacht over 500GT at The ShowBoats Design Awards 2015.

With its four spacious decks and sleek and sporty lines, the YALLA is an eye-catching yacht on the water. She was delivered in 2014 with a steel hull and an aluminum superstructure.

The design was penned by Omega Architects and built at the CRN shipyard in Ancona, Italy. CRN is a builder of luxury superyachts, and YALLA was a custom build for the shipyard.

Specification

The 73m YALLA yacht is powered by 2 Caterpillar engines , which gives her a top speed of 18.5 knots and a cruising speed of 12.5 knots. The YALLA has a range of 5500 nautical miles at her cruising speed.

She has a beam of 12.8m and a draft of 3.4m, with a displacement of 1709 gross tons.

She features at-anchor stabilizers that afford guests exceptional comfort levels by reducing the rolling motion of the yacht on the water.

The YALLA costs $5 – $8 Million per annum to operate.

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The latest metamorphosis of the richest man in Egypt, Nassef Sawiris: Owner of Aston Villa and shareholder in Adidas

With a net worth of $8.7 billion according to ‘forbes,’ the businessman is looking for ways to bring more luster to the jewel in his crown, the fertilizer giant oci.

Egypt’s richest man, Nassef Sawiris, and the crown jewel of his economic empire, chemical giant OCI, are once again undergoing a transformation. After piloting the Netherlands-listed group into one of the world’s largest fertilizer producers, Sawiris, who has a net worth of $8.7 billion according to Forbes magazine, is mulling a radical business turnaround. He does not yet know where it will take him, but the Egyptian billionaire, whose investment portfolio includes the English soccer club Aston Villa and the sports multinational Adidas , is looking to redefine his future once again, remaining faithful to his family’s way of doing and understanding business.

One of the more drastic options being considered by the 63-year-old, who is also a member of J.P. Morgan’s international board, is to turn it all into cash and move into other sectors: further fragmenting his main holding company and selling off the parts to become a special purpose acquisition company (SPAC). “We’re quite open-minded,” he recently told the Financial Times , in a rare interview. “We always say that we are builders, not holders,” he added, in an apparent nod to his family’s business background.

Sawiris is the youngest son of the late Onsi Sawiris, whose first steps as a construction entrepreneur in Egypt ran into the 1960s nationalization wave of President Gamal Abdel Nasser’s socialist-tinged government. With the rise of his successor, Anwar El-Sadat, the architect of Egypt’s policy of opening up to the private sector in the 1970s, Onsi returned to the fray and eventually turned Orascom Construction into one of the country’s largest contractors. The firm continued to thrive in the three decades of former president Hosni Mubarak’s regime, during which the Sawiris always maintained close connections with Cairo’s political elites.

The diversification of the business came about in the 1980s and 1990s through his three sons, all foreign-educated, who took over Orascom and expanded its activities in three sectors: the eldest, Naguib, in telecommunications; the middle son, Samih, in tourism; and Nassef, in construction, expanding into the cement industry and emerging markets, first as CEO and then chairman of the subsidiary Orascom Construction Industries, which was eventually renamed OCI.

In 2008, Orascom sold its cement division to France’s Lafarge for $12.8 billion, which included a subsidiary in Syria that years later pleaded guilty to having paid several million dollars to armed groups, including Islamic State, to maintain its activity. The deal saw Nassef Sawiris become a major shareholder in the French firm and in 2015 it merged with Switzerland’s Holcim to form the world’s largest cement maker. Sawiris sold his stakes in 2019.

Sawiris undertook one of his biggest business reorganizations after the 2011 revolution in Egypt. During the term of President Mohamed Morsi (2012-13), the first democratically elected leader of Egypt, the Public Prosecutor imposed a travel ban on Nassef and Onsi Sawiris over a tax evasion case related to the sale of the cement division to Lafarge. Some interpreted the indictment as an attempt by the Islamist government to stoke the liberal opposition, or to persecute those believed to have benefited from the widespread corruption of the Mubarak years. The travel ban was lifted in 2013, following a million-dollar payment from OCI.

It was during that period that OCI completed a share swap with its Dutch parent company, moved to Amsterdam‚ and turned its attention to the chemical sector, especially fertilizers. Shortly before, Naguib Sawiris had liquidated almost all his assets in Egypt. But it was not until the violent rise to power of the current president, Abdel Fatah el-Sisi , in 2013 that the Sawiris returned to pledge millions of dollars in investments in the country. Today, Orascom is Egypt’s largest employer and one of the firms that has benefited most from the government’s infrastructure megaprojects although Nassef’s brothers, Naguib — the most politicized — and Samih have in recent months criticized the government’s management of the country’s deep economic crisis , in a very unusual display of dissent.

Sports investments

Over the past decade, Nassef Sawiris has also made a big splash in the world of sports. In 2015 he acquired 6% of Adidas through his family investment company, NNS, and in 2018 he partnered with U.S. billionaire Wesley Edens to form the holding company V Sports, which bought a 55% stake in Premier League club Aston Villa. V Sports also owns stakes in Portuguese soccer team Vitória Setúbal. In 2020, NNS revealed that it also has a stake in the company that owns the NBA’s New York Knicks and the NHL’s New York Rangers. In his interview with the FT , Sawiris confessed that getting into sports has helped him change his view on the qualities behind success: “You come to the conclusion that attitude and work ethic trump talent at any time.”

For the past year, however, Sawiris has been focused on OCI. Its board initiated a strategic review of its business last March, and as part of its bid to sell assets the company announced in the span of just three days in December the sale of a fertilizer plant in Iowa and its 50% stake in Fertiglobe, the Middle East’s largest fertilizer producer. The deals were worth more than $3.5 billion each. All eyes are now on its methanol and ammonia divisions and Sawiris has already stated that “there is more to come.”

NNS also announced in December that it would join the long procession of billionaires who have decamped in recent years to Abu Dhabi, in its case from Luxembourg. Sawiris’ intention is to invest in Europe, the Middle East, and the U.S., and to find, in his own words, “English law without the English climate.”

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Board approved: Who lives at 960 Fifth Avenue?

The fourth installment of LLNYC’s series on Manhattan’s most prestigious cooperative apartment buildings is a look inside 960 Fifth Avenue.

The 1928 building, which uses 3 East 77th Street as an alternate address, was designed by Rosario Candela with architecture firm Warren & Wetmore. And all the requisite Candela “good building” details and flourishes are there – wood burning fireplaces in common rooms, varying ceiling heights that stretch to 18 feet in some units and staircases that enable hostesses to make a grand entrance in the duplexes. The building has a gym with outdoor space on an upper floor.

The building also boasts an old school amenity on the ground floor, The Georgian Suite, a multi-room restaurant where residents can host parties, fundraisers or simply have a meal. The facility also offers catering services for lunch and dinner, with meals delivered to residents’ units upstairs.

This building’s demographics skew heavily in favor of inherited wealth. Many of the residents behind this particular limestone curtain are scions of families who made money in concrete, construction, toys, sugar and textiles. Several of the resident also have ties to the South — particularly Texas, Louisiana and Tennessee.

Here’s a detailed look at the residents of 960 Fifth Avenue:

(Source: Property Shark, Acris, and published news articles)

Nassef Sawiris and Sherine Magar

Unit price: $70,000,000

Nassef Sawiris and images of his 960 Fifth Avenue penthouse

Nassef Sawiris is an Egyptian construction tycoon and a scion of the Sawiris family, whose members hold stakes in telecommunications and real estate in Egypt.

He is the chief executive of Orascom Construction Industries. Sawiris and his wife, Sherine Magar, have four children. They divide their time between New York and Cairo.

Sawiris set a record for the highest price ever paid for a co-op in New York with the purchase of the five-bedroom, eight-bathroom apartment of the late Edgar Bronfman.

Charles Lazarus and Joan Regenbogen

Unit price: $4,800,000

960 Fifth Avenue and Charles Lazarus (Lazarus photo credit: Corbis Images)

Charles Lazarus is the founder of Toys “R” Us. Since 1995, he has been married to Joan Regenbogen, an interior designer. He was married to Helen Singer Kaplan, a sex therapist, from 1979 until she died in 1995.

According to public records, Lazarus owns multiple units in the building. In 2013, he sold one of his units for $21 million to Carlos Rodriguez-Pastor, the heir to a Peruvian banking fortune.

John Sullivan Jr. and Nonie Sullivan

Unit price: $4,200,000

John Sullivan Jr. and his unit at 960 Fifth

John Sullivan Jr. is a scion of the Sullivan-Gerli family whose members made their fortune in the silk and velvet textile business. He serves as chairman and chief executive of Gerli & Co., the parent company of American Silk Mills in north-eastern Pennsylvania.

Sullivan is the grandson of Paolino Gerli, who established the family’s silk business in the early 1900s.

Eleanor (Nonie) Clay Ford Bourke Sullivan is a scion of the Ford family (as in Ford motors). Her first marriage to Frederic Bourke Jr., of leather goods maker Dooney & Bourke, ended in divorce.

David Mackie

Unit price: $2,932,500

David Mackie is a venture capitalist, a consultant for the natural gas industry and a lawyer by training. He serves as an independent director at AltaGas.

His career includes stints at El Paso Natural Gas Co. and Transco Energy Co.

Sharmin and Bijan Mossavar-Rahmani

Unit price: $15,000,000

Sharmin Mossavar-Rahmani (Goldman Sachs)

Bijan Mossavar-Rahmani (RAK Petroleum plc)

Sharmin Mossavar-Rahmani is a philanthropist, author, wealth manager and a partner at Goldman Sachs. As of 2016, she worked as the chief investment officer of the Private Wealth Management Group at the Wall Street investment bank. She joined Goldman in 1993.

Bijan Mossavar-Rahmani is a philanthropist and an oil and gas executive. He serves as chairman and chief executive officer of RAK Petroleum in the United Arab Emirates and executive chairman of Norway’s DNO International. He is the founder of Houston-based Apache International. Princeton University’s Mossavar-Rahmani Center for Iran and Persian Gulf Studies was made possible by a $10 million donation by the couple.

Emilia and José (Pepe) Fanjul

Unit price: $1,900,000

Emilia and Pepe Fanjul

José Fanjul, who goes by Pepe, is one of the Fanjul brothers of Cuba, who jointly own Fanjul Corp, a conglomerate with holdings in the sugar industry and in real estate in the U.S. and the Dominican Republic. His brother are Alfonso (Alfy), Alexander and Andrés.

The Fanjul family has been involved in the sugar business for 150 years and have been involved in American, Cuban and Dominican politics. Jose Fanjul received an MBA from New York University (NYU) and a BA from Villanova University.

Emilia May Fanjul is a philanthropist. She serves as a trustee of Glades Academy, a public charter elementary school in Florida. She received an undergraduate degree from Columbia University’s Barnard College.

Mathew and Ann Wolf

  Unit price: $2,500,000

Mathew Davis Wolf is a rancher, the son of oil tycoon Erving Wolf, a trained lawyer and an oil man in his own right. He received a JD from the University of Houston Law School and an undergraduate degree from Hampshire College in Amherst, Massachusetts. He is an alumnus of Brooks, a private school in the town of North Andover in Massachusetts.

Ann Weltchek Wolf received an undergraduate degree from Wesleyan University. She is an alumna of St. Mark’s, a private school in Southboro, Massachusetts, class of 1979. The Wolf’s married in 1990 and have three children, Daisy, Henry and Benjamin.

Benjamin Steinbruch

  Unit price: $18,875,000

Benjamin Steinbruch is a Brazilian ex-billionaire and industrialist whose family made its fortune in textiles and steel.

Steinbruch serves as chairman and chief executive of CSN. The Steinbruchs have suffered a dramatic reversal of fortune precipitated by a slump in global commodities prices. In 1993, the family came to own CSN, a formerly government-owned steel company, by using their textile business, Vicunha Textile, and a large amount of debt in the acquisition, which occurred during Brazil’s privatization drive.

Gail Auchincloss Gilbert and her son, S. Parker Gilbert, Jr.

Unit price: $1,500,000

Gail Auchincloss Gilbert is a wealthy widow and member of old New York society. For 55 years she was married to Seymour Parker Gilbert III, with whom she had three children, S. Parker Gilbert Jr, David, and Lynn Tudor.

Her husband led the investment bank Morgan Stanley, with which his family had multiple ties. He oversaw its initial public offering in 1986 and continued to influence the bank’s management in retirement. Her grandfather was a New Jersey congressman.

Parker Gilbert, Jr. is one of Gail Auchincloss Gilbert’s sons. His brother David wrote a novel, “& Sons,” set in the privileged New York milieu in which they grew up.

James Krugman and Connie Simmons

Unit price: Undisclosed

Connie Simmons

James Krugman is a corporate executive and a lawyer by training. His career includes stints as chief executive of several companies: Insituform of North America Inc., Memphis, a wastewater pipeline reconstruction company, Meadox Medicals, a medical prosthetics and devices manufacturer that was acquired by Boston Scientific in 1995, and Hayward Industries, a manufacturer of valves and filters.

From 1972 to 1978, Krugman was senior partner at Krugman, Chapnick & Grimshaw, a law firm based in Saddle Brook, New Jersey.

Connie Simmons is an artist, a lawyer by training and a producer of public television programming about the visual arts. She established and runs her namesake company, SimmonsArt Inc. Simmons produced, directed and edited a PBS series, “Landscapes through Time with David Dunlop” that was nominated for two Emmys in 2009.

Her career includes stints at Columbia Tri Star and working as an entertainment lawyer in private practice. Her clients included New Line Cinema and Miramax. Simmons received a JD from Columbia University’s Law School and a BA from the University of Texas at Austin.

James Coleman Jr.

Unit price: $795,000

James Coleman Jr. is Louisiana businessman and a lawyer. He is the former chairman of International Matex Tank Terminals, a company that handles, stores and transports crude oil, vegetable oils and liquid fertilizers and that was established by his father.

The Coleman family’s interest in IMTT was bought out in two phases in 2006 and 2014. He serves as managing partner of the New Orleans law firm Coleman, Johnson, Artigues & Jurisich. Coleman received a JD from Tulane University Law School in New Orleans, Louisiana, in 1968 and a BA from Princeton University in 1963.

James and Marie Marlas

Unit price: $7,100,000 (the couple own multiple units in the building)

James and Marie Nugent-Head Marlas

James Marlas is a buy-out tycoon and a lawyer by training. He is the co-founder and chairman of Union Capital Corporation, a private equity firm he established in 1968. His career also includes a stint working as an associate at law firm Baker & McKenzie.

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He received a JD from the University of Chicago Law School in 1963, an MA in jurisprudence from Oxford University in 1961, and a BA from Harvard University in 1959.

Marie Nugent-Head Marlas is a philanthropist and a former actress. She played a doctor in the 1992 movie “Lorenzo’s Oil.” She is a recipient of the Legion of Honor, France’s highest award, given in recognition of accomplishments and service to France. She and her husband acquired and renovated a 18th-century castle in France.

Henri and Marsha Wedell

McGehee School Headmistress Eileen Friel Powers, and Marsha Miller Wedell and Henri Wedell

Henri Wedell is a retired businessman, investor and philanthropist. He invests in private prisons. From the 1970s to 1999, Wedel worked at investment bank The Robinson Humphrey Company (now SunTrust Robinson Humphrey). He received an MBA from the Tulane University School of Business.

Marsha Wedell is a historian, author and philanthropist. She received a PhD in history and is an alumna of the Louise S. McGehee School, an all-girls private school in New Orleans, class of 1959. The Wedells donated $1 million to the school in 2013.

They split their time between Manhattan, Memphis, Tenn., and Florida.

Peter and Laura Grauer

Unit price: $2,400,000

Laurie and Peter Grauer

Peter Grauer is a private equity executive and a former investment banker who led Bloomberg LP, the financial data and news provider, as chief executive immediately after the company’s founder, Michael Bloomberg, stepped down.

In 2016, Grauer joined the board of directors of private equity firm The Blackstone Group. He served as chief executive of Bloomberg from 2002 to 2008 and continues to serve as chairman. His career also includes stints at Credit Suisse, Donaldson, Lufkin & Jenrette (an investment bank acquired by Credit Suisse) and Citibank. He received an MBA from Harvard Business School in 1975 and a BA from University of North Carolina in 1968. He is an alumnus of Hotchkiss, a boarding school in Lakeville, Connecticut.

Laura Grauer, who goes by Laurie, is a philanthropist.

Mary Lawrence Porter

Unit price: $3,000,000

No information immediately available.

Joseph and Mary Jane Platt

Unit price: $2,300,000

Joseph Platt, Jr. is an insurance industry executive and philanthropist. He is a founding principal at Thorn Partners, an investment firm in Pittsburgh, Pennsylvania.

From 1971 to 1997, he worked at Johnson & Higgins, an insurance broker and employee benefits advisory firm, until it acquired by Marsh & McLennan in 1997. Platt received an MBA from Harvard Business School in 1983, a JD from Fordham University Law School in 1971 and an undergraduate degree from Manhattan College in 1968.

Mary Jane Platt is a Pittsburgh, Pennsylvania-based philanthropist.

James and Stephania McClennen

Unit price: $1,100,000

James McClennen (left), Mary Ceruti (center), and Stephania McClennen (right)

James McClennen is a co-owner, with his wife Stephania, of the Wequassett Resort and Golf Club. The couple acquired the Cape Cod property in 1977.

Carlos Rodriguez-Pastor

Unit price: $21,000,000

Carlos Rodriguez-Pastor is a businessman, philanthropist and an heir to a Peruvian banking fortune. His father served as Peru’s central bank chief. Rodriguez-Pastor (the son) parlayed their fortune and experience into a financial services and retail conglomerate, Intercorp, and a private equity firm, Nexus Group.

From 1993 to 1994, he co-founded and ran a New York City-based hedge fun at Banco Santander with Hari Hariharan and Manuel Balbontín (who lives at River House), before returning to Peru. Rodriguez-Pastor’s first job out of business school was at Citibank, on the emerging markets trading desk. He worked as a Wells Fargo bank teller while attending college.

In 1988, Rodriguez-Pastor received an MBA from Dartmouth College’s Tuck School of Business in Hanover, New Hampshire. In 1983, he received a bachelor degree from the University of California at Berkeley. He grew up in Lafayette, a town on the outskirts of San Francisco, after his family fled Peru under threat of persecution following a coup d’état.

960 Fifth Avenue #11B (Streeteasy)

Gabriela Perez Rocchietti is a philanthropist. The couple, who divide their time between Manhattan and Lima, Peru, have two sons, Martin and Franco.

Rodriguez-Pastor purchased his apartment at 960 Fifth from Charles Lazarus, the founder of Toys “R” Us.

Andrew Atterbury and Gwyn Prentice

Unit price: $3,650,000

Andrew Atterbury is a Kansas City, Missouri-based oil-and-gas industry executive. He is the co-founder and president of Bowood Capital Advisors, an asset management firm.

From 2002 to 2011, Atterbury worked as a senior vice president in charge of corporate development at Inergy, a firm that buys, sells, transports and stores natural gas products like propane. Crestwood Equity Partners, a rival that operates in the shale gas and shale oil sector, acquired the firm in 2013. From 1999 to 2011, Atterbury worked in a similar position at Houston, Texas-based Kinder Morgan, a logistics and storage behemoth that handles crude oil, natural gas and coal.

From 1996 to 1998, he worked in the real estate finance group at Lehman Brothers, the investment bank that collapsed in 2008. Atterbury received a MBA from Columbia Business School and a BA from Dartmouth College in New Hampshire.

Gwyn Prentice is a Kansas City, Missouri-based fashion designer. She is the founder of Helen Jon Swimwear. Prentice received a BA from Dartmouth College in New Hampshire in 1996.

Their three-bedroom unit (11CD), which the couple acquired in 2013, was listed for $5,495,000 as of early April 2016, according to Streeteasy.

Coleman and Susan Burke

Unit price: $4,700,000

Susan Payson Burke is a philanthropist, an avid gardener and a former public relations director at Bergdorf Goodman.

She serves on the board of the New York Botanical Garden, on the horticulture committee at Wave Hill public garden in the Bronx and on the board of Memorial Sloan-Kettering Cancer Center. Burke is also a member of the Bedford Garden Club and a founding member of the Garden Club of America.

Her career has included stints working as an advertising director at Frances Denny and as a marketing and public relations executive for Moët & Chandon. She and her husband, Coleman Burke, divide their time between Manhattan, an 1805 farmhouse in Bedford, New York, and houses on Nantucket Island, in Massachusetts and in Florida.

Coleman Burke is a real estate investor, lawyer by training, philanthropist and an amateur paleontologist. He is the founder and managing partner of Waterfront Properties, a firm that invests in office buildings and retail and storage properties in New York, Maine, Massachusetts and Colorado.

Burke serves on the board of the National Parks of New York Harbor Conservancy, the Woods Hole Oceanographic Institution, the National Forest Foundation and on the science committee of the New York Botanical Garden. He is a member of the Leadership Council of the Yale Institute for Biospheric Studies, the Yale School of Forestry and Environmental Studies and Yale’s Peabody Museum.

Before going into the real estate industry, Burke was a partner at law firm Burke & Burke (now Satterlee Stephens Burke & Burke). As a hobby, Burke digs for dinosaur bones, including in Wyoming and Patagonia, a rugged grassland region on the southern tip of South America.

Elizabeth Ballantine and Paul Leavitt

Elizabeth Ballantine

Elizabeth Ballantine is a scion of the multi-branched Ballantine-Cowles family of newspaper publishers, a former investment advisor, an activist for women’s reproductive rights, scholar of Russian history and lawyer by training. She works in the family business and serves and sits on the board of directors of Sacramento, California-based McClatchy Newspapers.

From 1993 to 1998, she worked in a similar position at Cowles Media Company. From 1993 to 1999, Ballantine worked as an international trade lawyer Dickstein, Shapiro, Morin & Oshinsky, a Washington, DC-based law firm that shuttered in 2016. From 1990 to 1993, she worked as a private advisory to individuals interested in investing abroad.

Her career also includes stints working as an attorney from the Central Intelligence Agency and as a reporter in the 1970s and 1980s for two of her family’s daily newspapers, The Durango Herald in Colorado, which her parents bought in 1952, and The Des Moines Register in Iowa, which her great-grandfather bought in 1903.

Ballantine serves as a trustee of Grinnell College in Iowa, as chairwoman of the board of the National Cathedral School, a private all-girls school in Washington, DC, as a trustee of the Gardner and Florence Cowles Foundation, and as an advisor to Planned Parenthood. She received a PhD in Russian history from Yale University in 1986, a JD from American University’s Washington College of Law and a BA from Yale in 1971.

Paul William Leavitt is a retired newsman who married into a multi-branched Midwestern publishing family. From 1997 until his retirement, he worked as the Washington DC news editor for USA Today, the national daily he joined in 1985.

He spent the previous decade working as a reporter and editor for The Des Moines Register, a daily newspaper in Iowa owned by the family of the woman who would become his wife, Elizabeth Ballantine. He began his career as a broadcaster reporter.

Leavitt and Ballantine live in McLean, Virginia, and have a son, William, who works as a lawyer in New York City and sits on the board of the family business, Ballantine Communications. From 1982 to 1983, Leavitt attended Moscow State University in the USSR (now Russia). He received a journalism degree from Drake University in Des Moines in 1972. He grew up in Natick, a town in Massachusetts.

Gustavo and Patty Cisneros

  Unit price: undisclosed

Gustavo Cisneros (Gustavo A. Cisneros Rendiles) is a Caracas, Venezuela-born media mogul, hospitality tycoon, and philanthropist. His father, Diego, made his fortune by securing the concession to sell Pepsi in Venezuela and parlaying that into investments into television. As of 2014, Cisneros (the son) had a net worth $4 billion, according to Forbes.

His privately-held holding company also owns Venezuelan baseball team Leones del Caracas (Caracas Lions) and the Miss Venezuela beauty pageant. He received a BA from Babson College in Massachusetts in 1968 and is an alumnus of Suffield Academy (class of 1963), a private prep school in Connecticut. He appears to hold multiple citizenships including those of Venezuela, Spain, and the Dominican Republic, and is of Cuban ancestry.

Patricia Phelps de Cisneros, who goes by Patty, is an art collector and art patron, a philanthropist, and a scion of a Venezuelan-American family of ornithologists, coffee tycoons, and media moguls. The couple have three children, Guillermo Cisneros, Carolina Cisneros de Rodríguez, Adriana Phelps Cisneros de Griffin.

Adriana is a principal in the privately-held family business. Patty Phelps sits on the board the Museum of Modern Art (MoMA), where her focus is Latin American and Caribbean art, and she is the founding principal of her private art collection, Colección Patricia Phelps de Cisneros. In 1969, she received a BA from Wheaton College in Massachusetts.

The couple divide their time between Manhattan and the Dominican Republic, where Cisneros is developing a Four Seasons-branded resort.

Check out the other buildings in our series here:

Who lives in River House?

Who lives at 740 Park Avenue?

Who lives at 834 Fifth Avenue?

Correction: An earlier version of this article incorrectly stated that an upstate New York politician resided at 960 Fifth Avenue. He was misidentified; and the information has been removed. 

12 Things You Didn’t Know About Nassef Sawiris

Written by Julia Austin

Jan 29, 2015

Nassef Sawiris, 53, is Egypt’s richest man. With a net worth of $6.9 billion, he makes most of his money in construction through his company, Orascom Construction Industries. Projects include chemical plants and residential complexes. He is credited with creating 29,108 jobs. Here are 12 things you didn’t know about Nassef Sawiris.

Source: VenturesAfrica.

He has an international education

Sawiris attended secondary school at the German International School of Cairo in Egypt before moving on to earn his bachelor’s degree in economics at the University of Chicago.

He has two brothers

Sawiris is the youngest of three brothers — all entrepreneurs. His siblings are Naguib Sawiris and Samih Sawiris. Naguib is CEO at Orascom Telecom Media & Technology and Sahim is the head of a development company that builds resorts around the world.

Sources: Forbes.com , Forbes.com 

He was charged with tax evasion

The Sawiris family faced tax evasion charges in 2013, with Nassef facing three years in prison. Orascom Construction Industries agreed to pay back the Egyptian tax authority in 10 installments between 2013 and 2017 and he was acquitted of all charges.

Source: Dailynewsegypt.com

His family is philanthropic

The Sawiris family started the Sawiris Foundation for Social Development in 2001. The foundation’s goal is to create jobs, encourage Egyptian entrepreneurs and, as the chairman put it, “to invest in human welfare and sustained development, and provide vital safety nets and much-needed services in some of our most deprived communities.”

Source: Sawirisfoundation.org 

His home was raided as a child

Sawiris’ brother, Naguib, admitted that after their father’s company was nationalized when they were children, authorities came to their home and searched the house.

Source: Cnn.com

He’s brought in great investors

Nassef has landed investors and partnerships with big names. Orascom Construction Industries owns 50 percent of BESIX group, one of the largest Belgian construction groups, and has a joint venture with Swiss cement manufacturer Holcim.

Source: Euroasiaindustry.com 

He’s considered the solid-but-slow brother

Nassef is the richest of his three brothers. Brother Samih said, “Nassef is like a slow-moving tank, Naguib is a racing car and I am coming on my donkey.”

He’s not much of a planner

In an interview with Bespoke Magazine, Sawiris said, “I don’t believe in master plans. I believe in a vision that stays dynamic and suits the area, the people that live in it, your clients, and the circumstances.” He said when he started with Orascom he didn’t even know it could lead to a career for him.

Source: Bespoke-magazine.com

He interviews fishermen

Sawiris said that when scouting oceanfront properties for his business ventures, he interviews local fishermen, telling them his requirements for land. They’ll send him the right way, he said.

He claims to be eco-concious

Sawiris says Orascom Construction Industries aims to be a carbon-neutral entity that generates as much energy as it consumes. His company is also building shale gas plants in the U.S. to exploit the natural gas trapped in sedimentary rocks.

Source: Upenn.edu

He owns the most expensive co-op in New York City

Sawiris owns one of New York City’s most expensive properties, a co-op at 960 Fifth Avenue. Sawiris paid $70 million for the penthouse apartment. The building counts among its residents some of New York’s elite and wealthy.

Source: 6sqft.com 

He is on a lot of boards

Sawiris is affiliated with 62 executive boards in seven organizations spanning eight different industries. Some of these board memberships include being vice chairman of the BESIX Group, director at Nile City Investments and managing director at Orascom Construction Industries.

Source: Bloomberg.com

Egypt’s richest man Nassef Sawiris makes $230 million in just 2 weeks

This surge has seen his fortune rise from $8.31 billion on march 7 to $8.54 billion at the time of drafting this report.

Egypt’s richest man Nassef Sawiris has experienced a remarkable upswing in his fortunes, with his net worth skyrocketing by $230 million in just two weeks, solidifying his position among Africa’s wealthiest billionaires — this comes after a period of decline earlier in 2024.

According to the latest data from the Bloomberg Billionaires Index , which tracks the fortunes of the world’s top 500 richest individuals, Sawiris’ net worth has surged by $230 million over the past fortnight (two weeks). This surge has seen his fortune rise from $8.31 billion on March 7 to $8.54 billion at the time of drafting this report.

Adidas stake boosts Nassef Sawiris’ net worth

The primary catalyst behind Sawiris’ recent wealth surge, averaging a staggering daily gain of $23 million since March 6, is his stake in the German sportswear giant Adidas. Serving on Adidas’ supervisory board since 2016, Sawiris holds a commanding six-percent stake in the leading sports brand, which has experienced a notable increase in value in recent times.

Adidas shares have risen by more than six percent since the start of March, climbing from €187 ($203.115) to €199.20 ($216.366). This surge has propelled the market capitalization of the sportswear giant beyond the $38-billion mark.

Sawiris’ fortunes have been directly impacted by this remarkable uptick, making him the 300th wealthiest individual globally, according to Bloomberg. His stake in Adidas, presently valued at $2.69 billion, has bolstered his net worth to $8.54 billion, reinforcing his position as Egypt and North Africa’s wealthiest individual.

Nassef Sawiris joins the ranks of African billionaires enjoying a banner year

With year-to-date wealth gains of $134 million, Sawiris joins the ranks of African billionaires enjoying a banner year. This surge not only solidifies his position as one of the continent’s richest but also underscores the resilience of his investment portfolio in volatile markets.

Despite challenges like ending its partnership with Kanye West’s Yeezy Brand, Adidas has impressed investors with its robust financial performance . The company’s 2023 operating profit of €268 million ($292 million) exceeded forecasts by nearly €1 billion ($1.08 billion).

Omokolade Ajayi

Omokolade Ajayi is a financial reporter at Billionaires.Africa. Previously, he worked as a journalist at Nairametrics. Omokolade is a seasoned financial analyst and reporter with in-depth knowledge of and expertise in equity markets, and financial and economic analysis. He has a degree in economics and is a certificate holder of the CFA Institute’s Investment Foundation Program.

Egyptian tycoon Ahmed Ezz loses $422 million amid devaluation and share dip

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Sunrise Yachts Sponsor 2011 Moscow International Boat Show (MIBS)

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Written by Mike Smith

Sunrise Yachts, a luxury yacht building company which is based in Turkey, has been made a main sponsor of next year’s 2011 Moscow International Boat Show (MIBS). The four-day Russian yacht show event is currently scheduled to run from April 14-17 at the Moscow’s Crocus exhibition centre.

moscow boat show

MIBS is organised by the ITE Group and it is one of Russia’s leading boat shows and is an internationally recognised superyacht event. The show covering everything from small parts and accessories to large superyacht with over 9,000 people and 178 exhibitors attended the last year show.

The Paolo Scanu-designed Sunrise 45 yacht is an ocean-going cruising yacht that was released in 2009 to much acclaim at this was the group’s first-ever model.

Sunrise Yachts was founded in 2007 by the German entrepreneur Herbert P Baum along with the French-British yacht builder Guillaume Roché. The luxury yacht group is based in Antalya, Turkey and utilises a 10,000sq m shipyard facility. Sunrise has two sheds measuring 100m (328ft) x 16m (53ft), as well as a 70m (230ft) x 16m (53ft) fully acclimatized paint shed that can accommodate new-build and refit projects up to 65m (213ft) in length and 1,200 tonnes displacement.

The sunrise 45m superyacht by Sunrise Yachts

Along each side of the yacht-building facility, space is available for long-term sub-contractors with the latest equipment and logistics capabilities, along with air-conditioned storage, ventilation and extraction plants. The shipyard is organized as an “assembler,” based loosely on the car industry’s model, with a small, yet powerful project management team charged with running all the in-house long-term sub-contractors.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "Sunrise Yachts Sponsor 2011 Moscow International Boat Show (MIBS)".

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