The Egyptian billionaire founded the first mobile operator in the DPRK. Now he hopes that he will finally be able to make money on this: Bloomberg

Saviris is one of the richest Egyptians, his fortune is estimated at $ 5.7 billion. He made most of him investments in the telecommunications industry (his company, in particular, for a long time was a shareholder of Vimpelcom, which works in Russia under the Beeline brand).

One of its most risky investments is in North Korea. He not only created the first mobile operator Koryolink there, but also built a hotel. True, difficulties arose with the return of investments - all income from business in the DPRK is nominated in North Korean Vona, which is difficult to take out of the country and change to convertible currencies. In addition, as Saviris says, the Western governments pressed him because of cooperation with Korea, which is under economic sanctions. Now all Saviris business operations in the DPRK do not fall into the reporting of his company Orascom Telecom Media & Technology Holding.

Now, after the historical meeting of the leaders of the Northern and Southern Kores took place, and diplomats are preparing the meeting of US President Donald Trump and Kim Jong -un, Saviris had the hope that his investments in the DPRK bring income.

In an interview with Bloomberg, Saviris also said that he transferred half of his condition into gold. He expects that it will grow in price against the backdrop of consumption in China and several foci of instability in the world. “Look at the Middle East and the rest of the world. Yes, and Donald Trump [in a decrease in instability] does not help, ”the investor explains his decision. Gold usually rises in price when there is an increased demand for the most reliable assets.