Word: entrepreneur
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Naguib Sawiris likes to think of himself as a Middle Eastern Richard Branson. Last year the Egyptian entrepreneur started Iraq's first mobile-phone network. After just six months, his company, Orascom Telecom, already had more than half a million subscribers, earning $95 million before taxes and interest. Like Branson, Sawiris is a music lover--he calls himself a "party animal"--and has a taste for risky ventures...
Sawiris is no bootstrap entrepreneur. He comes from a wealthy Coptic Christian family. His father Onsi made his fortune in Egypt in the 1950s in the construction industry but then lost it all when President Gamal Abdel Nasser nationalized the business in the early '60s. After living in Libya, the family moved back to Egypt a decade later. There Sawiris Sr. built his fortune anew. He has since divided his empire among his three sons: Naguib, the eldest, took telecommunications; Nassef, the youngest, runs the construction business; and Samih, the middle brother, has a tourism and travel company...
...Gore, Entrepreneur...
DIED. JOHN JOHNSON, 87, rags-to-riches publishing entrepreneur who launched Ebony and Jet a half-century ago to inject positive images of African Americans into mass media, and whose life was perhaps more inspiring than that of any of the people featured on the cover of his magazines; in Chicago. The grandson of slaves, Johnson used his mother's furniture to get a $500 loan in 1942 that 40 years later had grown into a publishing empire big enough to make him the first African American to snag a spot on the Forbes 400 list of the wealthiest Americans...
...next year - and doesn't publicly disclose financial results.) The more direct competitor to eBay, called Taobao (?searching for treasure? in Mandarin) isn't yet profitable, but according to Yang is a ?great franchise in the making.? Both sites were started and are run by 40-year-old internet entrepreneur Jack Ma, who will remain in charge. ?This is definitely an arrangement where we think have great assets coming together, but this (deal) would not have happened without Jack and his team,? says Yang. ?They'll continue to run things as they...