Nassef Sawiris, a prominent Egyptian billionaire, is set to chair Adidas’ board, highlighting his influence in global business.
Egyptian billionaire Nassef Sawiris is set to make history as the new chair of Adidas, one of the world’s most iconic sportswear brands. The $9.2 billion businessman—already a major shareholder and board member since 2016—will take the helm at the German giant’s May shareholder meeting, replacing Thomas Rabe. The appointment comes at a golden moment for Adidas: the company posted record revenues of $28.9 billion in 2025, powered by a remarkable comeback following pandemic disruptions and the costly split from Kanye West’s Yeezy brand. Sawiris brings a formidable portfolio to the role, including stakes in Aston Villa, Madison Square Garden Sports, and OCI, one of the world’s largest fertilizer producers.
Forbes Africa