Arab billionaire sells his shares in Twitter and Facebook, plans ‎to invest in E-vehicles ‎

News reports revealed that Egyptian billionaire Mohamed Mansour plans to invest in electric cars after selling his shares in Twitter and Facebook.

The Egyptian billionaire said, according to Bloomberg Agency, that he has reduced his investments in social media, including stakes in Twitter and the Meta platform, while enhancing his participation in green projects, such as making electric cars for the most populous country in the Middle East.

Mansour, whose family fortune is estimated at $6.8 billion, according to the Bloomberg Billionaires Index, plans to produce 15,000 electric cars in Egypt over the next three to five years through his Mansour Automotive Company, which has a long-term partnership with General Motors. His company also plans to import and market five models of Cadillac electric cars by 2025.

It is worth noting that Mohamed Lotfy Mansour, Chairman of the Mansour Group, holds American citizenship. Mohamed Lotfi Mansour is an Egyptian businessman and former politician. He chairs the board of directors of the Mansour Group, which is valued at $6 billion. The group is the second largest company in Egypt in terms of revenues.