Nassef Sawiris now has a 6% stake in the sporting giant, officially making him its single largest shareholder.
Adidas has been having a hot year with its stocks already climbing 41%, thanks to their boost technology and Kanye West Adidas collection. Always looking to invest big in winners, Nassef Sawiris has officially become Adidas' single largest shareholder.
With a net worth of $5.1 billion, Nassef Sawiris, is one of , if not the richest man in Egypt. While his brother, Naguib, looks to purchase an island for refugees, Nassef is poised to continue growing his money-making empire and now owns a 6% percent stake in Adidas. This may not seem like a lot, and far cry from a majority share, but it in fact makes him Adidas' biggest investor.
According to Bloomberg, “This year's performance greatly contrasts the performance in 2014 when the stock fell 38 percent on scrapped financial goals and market share losses to Nike Inc. and others, making it the DAX Index’s biggest loser for that period.” Completely turning around their fortune, Adidas is now the second-best performing company in Germany’s DAX index.
Needless to say the investment couldn’t have come at a better time, and if his brother is successful in purchasing the island, then one can assume that Adidas will be the first and possibly only apparel outlet on the island.