A Billionaire Says He’s Ready to Invest in Venezuela. As Soon as Maduro’s Gone
Egyptian billionaire Naguib Sawiris said he would invest in Venezuela “anytime” after embattled President Nicolas Maduro leaves office.
Maduro “starves his own people, he starves the whole country, he ruined the country,” Sawiris told Bloomberg Television in Abu Dhabi.
The Venezuelan leader has held on for years in the face of protests, a collapsed economy and international sanctions through a tight grip on the military and by cracking down on the opposition.
Sawiris, with a net worth of $5 billion according to Bloomberg’s Rich list, said he’s would consider other opportunities in Latin America. He could also invest about $300 million in Italy but said Brexit has put him off investing in the U.K.
“Brexit is a disaster,” he said. “Europe is a big mess.”
Sawiris owns stakes in gold mines through his closely held company, La Mancha Resources. He told Bloomberg last year that he had invested half of his net worth in gold and said on Tuesday that he is continuing to invest in bullion.
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