U.S.-Nigerian mogul Sam Darwish’s IHS stake slips below $90 million

U.S.-Nigerian telecom mogul Sam Darwish, who is the founder of IHS Towers, has seen the value of his stake in the telecom infrastructure company drop to about $86 million after a slide in its shares on the New York Stock Exchange (NYSE).

Darwish stake in IHS drops $12 million

The decline marks another setback for Darwish, whose 12.92 million shares — equal to a 3.9 percent holding — have shed more than $12 million in the past three weeks. The losses wiped out the rebound he briefly enjoyed earlier in the summer, when IHS shares had gained ground.

Between late July and late August, Darwish’s stake had climbed by $19 million, rising from $70.42 million to nearly $89.5 million. But investor concerns about governance, foreign exchange swings, and rising operating costs across Africa have weighed on sentiment, dragging the shares lower once again.

Darwish’s IHS Towers slide to $2.22 billion

Darwish, who launched IHS Towers in 2001, has spent more than two decades building it into the world’s third-largest independent telecom tower operator, with more than 39,000 towers across Africa, Latin America, and the Middle East. IHS continues to add new business, securing 1,566 lease amendments, adding 385 tenants, and putting up 207 new towers this year.

Despite that growth, the stock has fallen 12 percent in just two weeks, sliding from $7.61 on Sept. 12 to $6.67 by Sept. 27. The drop has cut IHS’s market capitalization to about $2.22 billion, eroding shareholder value — including Darwish’s own fortune.

His stake, worth nearly $100 million only weeks ago, now sits at about $86.19 million. Yet Darwish remains one of the most influential players in Africa’s telecom infrastructure, a sector considered vital for both economic development and digital access.

Long-term IHS investors reap 128% return

For long-term investors, IHS still stands out. Shares have more than doubled this year, rising 128 percent since January. That means $100,000 invested at the start of 2025 would now be worth $228,000. The gains underscore why many market watchers continue to see promise in the company Darwish built, even as he navigates the pressures of today’s market.