10 min read

The Man Called Yasseen Mansour

July 17, 2024

Born into a wealthy business-oriented family, Yasseen Mansour is an Egyptian businessman and billionaire.

The Mansour Group is the largest General Motors dealer in the world and a prominent distributor of Caterpillar equipment in Egypt and across Africa.

He is currently the chairman of Palm Hills Developments which is a company within the Mansour Group and one of the largest real estate development companies in Egypt.

Yasseen Mansour Biography

Yasseen Mansour stands tall among the most influential businessmen in Egypt and the entire Middle East. Born on January 1, 1961, he pursued a Bachelor’s degree in Financial Sciences at George Washington University in the United States. He’s part of the prominent Mansour family, including siblings Ismail (late), Youssef, Mohammed, and Rawya.

Yasseen’s father, Loutfy Mansour, laid the foundation for what would eventually become the Mansour Group. A diversified conglomerate with interests in various sectors including automotive, consumer goods, and real estate.

Influenced by his father, Lateef Mansour, Yasseen adopted perseverance, even through financial difficulties after his father’s company was nationalized, leaving a significant financial impact. The collective wealth of the three billionaire brothers, Mohammed, Youssef, and Yasseen Mansour, now reaches $5.3 billion.

Yasseen Mansour isn’t just a billionaire; he’s a visionary leader adept at business management within his family’s empire. Since 1986, starting with Mansour Motors, he’s led and overseen remarkable growth and performance across all his companies.

Personal Life

Behind every successful individual is a strong support system. And for Yasseen Mansour, his family plays an integral role in his life and achievements. Yasseen Mansour leads a private personal life and resides in Cairo, Egypt with his wife and four children.

He is known for his dedication to his family and his commitment to philanthropy. Yasseen Mansour’s legacy is one of entrepreneurship, innovation, and social responsibility, leaving a lasting impact on the business landscape of Egypt.

Yasseen Mansour Career

Mansour started his professional career in 1986 with the Mansour Automotive Company. He also served as the Chairman of Board and Directors and Chief Executive Officer of Palm Hills Development since 2005. However, he stepped down as the CEO but still holds the position of the Chairman and the bigger shareholder.

His company “Palm Hills” is into building luxurious homes and resorts, within a few period of time, the company expanded and became Egypt second largest real estate developers.

Yasseen founded Manfoods who operates the franchise of the fast-food star McDonalds. He is the chairman of that Manfoods since 1994. Yasseen has been the chairman for many organization such as; Chairman of the Mansour and Maghraby Investment and Development (MMID) company where he served as the president and Chief Executive Officer.

MMID is a joint stock company mainly owned by the Mansour group and El- Maghraby. Yasseen being proficient in heading organizations also serves as the chairman at Mantrac groups, the authorized suppliers of caterpillars in Egypt from 2005 till date.

He was also Chairman of Credit Agricole in Egypt and Royal and Suns Alliance company.

Yasseen is a member of Board of Directors of Commercial International Life Insurance company. After the Egyptian revolution, Yasseen was charged with misplacement of state lands for Palm Hills Developments but was later cleared.

However, the bulk of Yasseen wealth comes from Mansour group the bedrock of his family business. Addition, he is also the co-founder of the Lead Foundation whose activities is the financing of local Egyptian business women.

He is part of the board members for National Cancer Institute and Secretary General of Future Foundation.

Al Ahly Football Club

Between 2021 and 2022, Yasseen Mansour undertook the leadership of Al Ahly Football Company, marking his return to a great role in the football world. His appointment as the President of Al Ahly Football Company came after the club’s announcement, tasking the company with organizing and managing football activities within Al Ahly. This includes player management, sport promotion, and other football-related affairs.

Mansour boasts an extensive history with Al Ahly, having been one of its major supporters and a former board member. His resignation from the presidency of Al Ahly’s football company was stated to be in the club’s best interest.

Yasseen Mansour’s position marked a significant chapter in the club’s administration, reflecting his commitment to Al Ahly’s legacy and the sport’s integrity. His influence and dedication to the club’s improvement remain a testament to his connection and contribution to Egyptian football.

Yasseen Mansour Net Worth

Yasseen Mansour’s financial success is a reflection of his business acumen, strategic vision, and relentless pursuit of excellence. According to Forbes Real Time Net Worth, Yasseen Mansours net worth is $1.2 billion. This considerable wealth places him among the most affluent individuals in Egypt and the Middle East.

The majority of Yasseen’s wealth is derived from his significant holdings in the Mansour Group and its various subsidiaries. The group’s diverse portfolio, spanning automotive, consumer goods, real estate, and other sectors, has provided a solid foundation for sustained financial growth. Yasseen’s strategic investments and ability to navigate complex market dynamics have been key factors in the accumulation of his wealth.

The Mansour Group

After completing his education, Youssef Mansour joined the family business, Mansour Group. The company was originally a small trading enterprise. But Youssef’s vision and strategic thinking would help transform it into one of Egypt’s most significant conglomerates.

The Mansour Group first rose to prominence when it secured exclusive dealership rights for General Motors in Egypt. Today, in Egypt, you may find that everything you use daily, from your car to your table salt, comes from or is affiliated with the Mansour Group.

This sprawling family-owned conglomerate is one of the biggest in Africa and the world dealing in everything from automobiles to consumer goods down to real estate.

Founded in 1952 by Loutfy Mansour as a cotton exporter, the Mansour Group has grown into a global conglomerate thanks to the business acumen of Loufty’s kids: Youssef Mansour, Mohammed Mansour, Yassen Mansour and Rawya Mansour who took up the mantle after their father death.

The Mansour siblings

Youssef Mansour

He grew up watching his father lay the foundation for the Mansour Group, a company that would later become a global powerhouse.

Youssef pursued a Bachelor of Science in Engineering from North Carolina State University in the USA and later honed his business acumen with a Master of Business Administration from Auburn University.

When Egypt returned to a market economy, the Mansour family returned to Egypt and soon after started doing business with General Motors(GM). Youssef who had been pursuing a career in investment banking in New York returned to Egypt in 1976.

The Mansour family set up a GM dealership and obtained Egyptian sales rights in 1975. The company was called Al-Mansour Automotive.

In 1984, GM opened its first factory in Egypt, and in 1985 had its first GM vehicle produced in Egypt. By 2001 the Mansour Group had become an exclusive GM distributor. A turning point in the history of the company.

Building on this success, Mansour Automotive expanded its operations to Iraq and Africa. Becoming the largest distributor of GM products in the world outside of China. The Mansour Group’s dealership network now spans several countries. The company also owns franchises for Opel, MG, Chevrolet, Isuzu and Peugeot.

Mohammed Mansour

Mohammed Mansour is a well-known figure in political and commercial circles. With a net worth of $3.3 billion, he ranks eighth on Forbes’ list of Africa’s richest people.

Mohammed has always had a love for politics and even served as transport minister in 2006 although he was later forced to resign.

Recently, the tycoon was by British Former Prime Minister Rishi Sunak, sparking debates and discussions about political patronage. He is a part owner of the Mansour Group and helps his brothers oversee the family business.

Yasseen Mansour

Yasseen is instrumental in the expansion and success of the Mansour Group. Yaseen co-founded Mansour & Maghraby Investment Development (MMID) with his cousin, former Minister of Housing, Ahmed El-Maghraby.

MMID is the majority owner of Palm Hills Development Company (PHDC.CA). A leading real estate developer in Egypt of which Yassen is the chairman. Palm Hills Development is part of the Mansour Group businesses.

Rawya Mansour

Rawya, the only female sibling, is less known but just as impressive. She founded RAMSCO for Refined Architecture and Interior Design in 1999 and RAMSCO for Trade and Distribution in 2007.

Rawya also established the Organic Agriculture for Social International Solidarity (OASIS) in Monaco in 2012. She is also a member of the Egyptian National Council for Women for Foreign Affairs Committee and the Planetary Health Pledge Club in Monaco.

Each of the Mansour siblings has crafted a name for themselves and contributed significantly to the growth of the Mansour group. However, there is one at the helm of it all who unlike his siblings is a recluse who prefers to lead a rather private life.

Yasseen Mansour’s Positions

His success story isn’t only limited to Egypt but also extends across the entire Middle East. He’s an important figure in the Mansour Group that was founded by his father in 1952, holding exclusive distribution rights for General Motors buses and Caterpillar equipment in Egypt.

The group also exclusively manages the famous fast-food brand McDonald’s in Egypt and is the sole distributor for the Gauloises cigarette brand.

Yasseen Mansour also holds significant positions in several companies across various sectors such as:

CEO of Mansour and Maghraby Investment & Development Company.
Board Member of Credit Agricole Egypt Bank.
Board Member of Mantrac Egypt Group and Accor Hotels Group.
Board Member of Man Capital Company.
Member of the National Cancer Institute.
Active Member of Takaful Association.
Secretary-General of the Future Association.
Founding Member of the Lead Foundation in collaboration with the World Bank for Small Projects Financing.

Charity Work

Yasseen Mansour is not just a prominent figure in the business world; he stands out as a trailblazer in the realm of philanthropy, championing humanitarian causes and actively participating in projects for the “Lead” foundation.

This foundation, in partnership with the World Bank, focuses on funding small and medium-sized developmental projects. At the helm of Mansour & Maghraby Investment, a leading private investment fund in Egypt, Mansour’s leadership reflects not only business acumen but a strong commitment to societal contributions.

His involvement with the National Cancer Institute and the Takaful Association showcases his unwavering dedication to providing support for health and social causes.

Mansour’s humanitarian endeavors shed light on another facet of his persona—not merely a billionaire or a shrewd businessman but a person who believes profoundly in the positive impact of philanthropy on society’s progress.

Yasseen Mansour’s diverse portfolio and leadership roles reflect his profound influence on Egypt’s economic landscape and beyond, shaping multiple industries and societal aspects. His continuous ambition towards excellence continues to define Egypt’s business ethos and inspires aspiring entrepreneurs globally.

References: