Sam Darwish, the US-Nigerian telecom mogul and co-founder of IHS Holdings, has seen his net worth plummet as the market value of his interest in the telecom infrastructure giant has declined.
According to HowNG data, the market value of Darwish’s interest in IHS Holdings has dropped by more than $24 million since July 21, owing principally to a drop in the shares of the top telecom infrastructure business on the New York Stock Exchange.
IHS Holdings, founded in 2001 by Sam Darwish, has established itself as the leading telecom infrastructure business in Africa, Europe, Latin America, and the Middle East. In terms of tower count, the company is also the third-largest independent multinational tower company in the world.
Darwish owns a sizable 4.17 percent interest in IHS Holdings, totaling 13,958,158 shares in the company.
IHS Holdings shares on the NYSE have dropped 19.71 percent in the last 36 days, going from $8.93 on July 21 to $7.17, taking the group’s market capitalization below $2.40 billion.
As a result, Darwish’s share in the major telecom infrastructure provider has dropped by $24.6 million, from $124.6 million on July 21 to $100.08 million at the time of writing.
Nonetheless, IHS Holdings remains hopeful and confident in meeting its 2023 targets. Because of its enormous tower network and savvy acquisitions, the firm has established itself as a prominent participant in the global telecom infrastructure scene.
According to Sam Darwish, the latest drop highlights the volatility inherent in the realm of high-stakes investments. Despite the drop in the market value of his interest in IHS Holding, Sam Darwish remains a key participant in the telecom business.