This Egyptian Billionaire Just Became adidas' Biggest Investor

Eygpt's richest man, Nassef Sawiris, just became adidas' biggest investor.

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Complex Original

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There's no question that adidas is constantly working to become the most relevant sportswear brand and this year they've proven to be just that. With boost technology and Kanye West taking the German brand by storm, adidas is definitely making all the right moves to increase sales and it's not going unnoticed. Nassef Sawiris, Eygpt's richest man, just became adidas' biggest investor.

According to Bloomberg Business, Sawiris has a net worth $5.1 billion and now owns a 6 percent stake in adidas, making him the sportswear giant's biggest investor. The disclosure is required after a stakeholder surpasses a threshold of 5 percent in a listed company.

Sawiris isn't new to investing into big companies. The report also indicated that he is also the third largest shareholder in Swiss cement maker LarfargeHolcim Ltd. and is the largest investor in Dutch fertilizer company OCI N.V.

Adidas stocks have risen 41 percent this year alone, making it the second-best performing company in Germany's DAX index. 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.

The German sportswear brand has “a constructive dialogue with current and potential investors and welcomes every new shareholder,” said adidas spokesman Jan Runau.

Now might be the time to best time to purchase a few shares in adidas before the price shoots through the roof.

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