The American magazine Forbes reported that the American billionaire of Egyptian origin, Fayez Saroufim, died yesterday, Saturday, at his home in Texas, at the age of 93..
The Saroufim Coptic family had left Egypt and arrived in the United States in 1946, and he studied at Harvard University before entering the field of finance and developed his talent in selecting stocks, and with $100,000 obtained from his father, he launched his company, Fayez Saroufim & Co. in 1958.
Besides the start-up company in the capital, his father gave him advice, telling him not to take a salary, but to return any profits to the company in order to give customers the best possible service, and that the profits will come later.
In addition to being the heir to the wealthy Sarofim family, Fayez worked as a manager of a number of Dreyfus family stock exchange funds, the original shareholder and second largest shareholder in Kinder Morgan, and owned part of the Houston Texans, the fifth most valuable NFL team with a value of 1.55 billion dollars.
Last September, his fortune reached $1.91 billion, and he was ranked 847th in the Forbes list of the world’s rich, in 2015. The total assets of his investments amounted to more than $30 billion..
Saroufim was ranked sixth in the list of the 8 richest billionaires with Arab assets in 2020, and his wealth, and its source of money management, is estimated at $1.1 billion. “Phoenix“.
