The second richest billionaire in Egypt invested half of his fortune buying

Thinking that the stock market is "overvalued" will soon plunge, Egyptian billionaire Naguib Sawiris has staked half of his fortune worth 5.7 billion dollars on gold.

In a recent interview with Bloomberg news, billionaire Sawiris said that he believes the price of gold will rise to 1,800 USD / ounce from the current 1,300 level.

"People tend to turn to gold in a crisis and we are in a myriad of crises. Look at the Middle East and the rest of the world, and Mr. Trump (US President Donald Trump ) is not helping at all, "said billionaire Sawiris.

But Sawiris said to him personally, Trump is helping a lot: If the peace deal on the Korean peninsula is established, his investments will pay off. This deal will help the 2nd richest billionaire Egypt after 10 years of waiting to be able to bring all profits back home with ease and take complete control of his mobile phone company.

"I have a lot of disadvantages, paid in currency that can't be converted easily. I have to spend a lot of money building hotels and doing a lot of good things here," Sawiris - founder of the house North Korea's first telecommunications network, Koryolink, said.

The cost and revenue at the North Korean branch are not included in the financial statements of OrascomTelecom Media & Technology's parent group Sawiris. Last year, the billionaire came under great pressure from "all Western governments in the world" when he invested in a country that is under international sanctions for threatening nuclear attacks. Therefore, the upcoming meeting of North Korean leader Kim Jong Un with Trump is of great significance.

A deal - unprecedented for nearly seven decades - will open up the opportunity for Mr. Sawiris to revive his investments and potentially make more new ones.

Sawiris is the son of Onsi Sawiris, the founder of Orascom Construction, and has built a name for himself by investing in the telecom sector in Egypt and in lesser known markets such as Iraq, Pakistan, Korea, and Bangladesh. He also acquired the Italian corporation Wind Telecomunicazioni before merging with many other properties into the Veon Ltd. year 2011.

Since then, the billionaire has diversified his investment by acquiring Egyptian investment bank Beltone Financial Holdings and attempting to buy CI Capital Holdings to create Egypt's largest bank. However, this deal failed.

He also expanded into gold mining, and together with his family became the largest investor in the field through stakes in Evolution Mining, Endeavor Mining and La Mancha Resources.

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Sawiris is born into a family of investment traditions. Nassef Sawiris - his youngest brother, is the richest man in Egypt and is the largest shareholder and CEO of the pesticide producer OCI NV. He is also the largest shareholder of the engineering company Orascom Construcstion.

Sawiris is currently prioritizing investment in Egypt after the International Monetary Fund (IMF) bailout program from 2016. With all monetary barriers removed and subsidies cuts, the country is making Invest more confidence in the Arab world's most populous economy.

In 2018, billionaire Sawiris plans to invest in Egypt's booming real estate market.

"Our family invests when they see the opportunity, not because of patriotism, advertising or anything like that," said Sawiris.