“Nawal’s Treasure”: Villa Heist Uncovers Massive Hidden Wealth in Egypt’s Ruling Elite
Amid calls for austerity and banking trust, a burglary at Nawal El-Degwi’s villa reveals a hidden fortune, igniting outrage over unchecked elite corruption in Egypt.
Watan-At a time of official austerity and public appeals for citizens to “tighten their belts,” the robbery of Nawal El-Degwi’s villa—an academic and prominent figure in Egypt’s ruling Mostaqbal Watan Party—has ignited a major scandal. The break-in revealed an unexpected treasure hidden inside her 6th of October City residence, which Egyptians quickly dubbed “Ali Baba’s Cave.”
According to the police report, the stolen assets included approximately 50 million Egyptian pounds in cash, $3 million USD, £350,000 GBP, and 15 kilograms of gold—amounting to more than a quarter of a billion Egyptian pounds, exceeding the budgets of entire government agencies.
What shocked many was that El-Degwi, long seen as a model loyalist to the regime and frequently presented in media as a “shining example,” had been honored by President Abdel Fattah El-Sisi in 2019 and held top positions in the ruling party. She also received honorary doctorates from British and American universities.
But the incident raised questions deeper than theft: Why would someone of her status hoard such vast wealth at home? Why not trust the banking system she publicly promotes? And above all, how was this fortune accumulated in the first place?
