Mr Mohamed Mansour, the internationally renowned Egyptian business leader and philanthropist, has been awarded an honorary doctorate by North Carolina State University (“NC State”), his alma mater.

In recognition of his decades of life-changing philanthropy in Egypt and internationally, Mr Mansour was made an ‘Honorary Doctor of Humane Letters’, the highest honour the university can bestow, at a ceremony in Raleigh, North Carolina on 7 May.

In addition to receiving an honorary doctorate, Mr Mansour was invited to deliver the keynote address at the University’s commencement ceremony. He addressed an audience at Raleigh’s landmark PNC Arena of around 20,000 people, thought to be the largest ever attendance for an NC State commencement, including the graduating Class of 2022 and the students’ family and friends, as well as faculty members, academics and other university staff. Read the full press release here.

Speech in full:

 Thank you, Chancellor Woodson, so much!

And thank you to every trustee and board member of this great institution for your wonderfully warm welcome I have been given today.

So… Class of 2022 – what a special group! To have graduated at any time is an achievement. To do it in a pandemic – wow!

You should be so proud. Congratulations!

A special hand, everyone, please to the graduating class of 2022!

 

This is a very moving moment for me. To you students who have had to struggle at times or overcome adversity – I know a little of how you feel.

I was almost thrown out of this university.

I was literally on the verge of being kicked out.

It does make me think, should I really be standing here – to receive an honorary doctorate, when I was told I couldn’t make it as an undergraduate?

It doesn’t help that this venue where I now stand centre stage has been a place for such legends from Bruce Springsteen to the Rolling Stones.

Somehow Mohamed from Egypt, or ‘Mo’ as I was known here, does not immediately trip off the tongue after such a rock ‘n’ roll roll call.  But, anyway here I am.

 

Flattered and truly honoured.

And immensely grateful.

 

I came to study in America in November 1963, only a few days after JFK was shot. A few weeks later, aged 16, I enrolled as an undergraduate here.

I was thrilled to be in America. I’d been confined to bed for three years from the age of 10 after being in a near-fatal car accident in Egypt.

So I was raring to go, to embrace life in North Carolina.

And I found the American Dream.

Can I just ask, is there a better place than North Carolina to find that dream?

Of course not! This is Wolfpack territory! Go Pack!

 

It was the Sixties and as the saying goes, ‘if you can remember the Sixties, you probably weren’t there’.  Well, I was there!

By 1966, halfway through my degree, I was at risk of flunking out.

My professors told me – I worked too hard… at partying!

And that I needed to put that energy into studying.

The simple truth was that I was about to be chucked out.

But my physics professor took pity on me.

He had intended to give me a fail. But when I pleaded and explained that failing would mean me going back to a country run on Soviet-style socialism, he took pity and offered me a life-saving deal.

 

I was given a second chance.

We made a deal. If I worked my socks off, I could stay.

I learnt the critical lesson that you have to control your own destiny. There are always consequences.

I had two routes.   I was either going to flunk, fail and fester… or face those faults and failures and try to flourish.

Sink… or swim.

Take flight… or fight.

Bottle it… or battle for it.

 

The choices were stark. I had lost my way.

But that second chance allowed me to get back on track. To reconfigure my moral and social compass in every way.

And it gave me the strength and purpose to overcome a second, devastating challenge – becoming dirt poor.

My father had built a cotton textiles company. And he had been really successful which was why I could study in America.

 

Then one night, he lost everything. The Government of Egypt took it all away.

President Nasser – under the political sway of the Soviet Union – nationalised the entire cotton industry including my father’s company.

It meant he stole it from us. And not just the company – all my family’s land, homes, and other assets were confiscated.

My father went from being a wealthy entrepreneur to being paid 75 dollars a month on a state salary. He wrote to me and my brothers, who were studying here also, at NC State and UNC, to say there was no more money for us.

So, no money for rent or food and certainly nothing for the bills and debts in my fraternity house.   Dad had no money which meant I had no money.

I had to resign from my fraternity and move into a damp and overcrowded house on Chamberlain Avenue.  I went yesterday and visited the fraternity. They showed me my letter of resignation, which I wrote in 1966. I also visited Chamberlain Avenue. My house looks a lot smaller now than it did then!

I got a job as a waiter in an Italian diner called Amedeo’s.

The owner, a former football player at NC State called Dick, also gave me a second chance. He made me understand hard work as I became Mo the waiter on a dollar 25 an hour.

Slowly I saved the tips and salaries I paid off my debts and learnt to manage my own finances. My big lesson was that spending money is very different than how you spend your life. It made me realise that maybe Oscar Wilde was right when he talked about knowing ‘the price of everything and the value of nothing’.

I had no money, and the place we stayed in was a fleapit. But I didn’t care. I was surrounded by friends, supported by my tutors, and embraced by hospitable North Carolina.

Somebody asked me yesterday, ‘these must have been very tough times?’

Yes, they were tough times, but they were happy times.

 

I love this country for its dreams and for the belief that anything is possible.

I landed here just a few days after JFK was shot. I witnessed the impact of the Vietnam war.  But I saw America regroup and heal.

I saw the Civil Rights movement grow and alter America. The hippy movement. The amazing music – the Beatles, the Stones, and Elvis Presley. I watched Mohammed Ali defeat Sonny Liston.

I saw the first Moon landing and like everybody else, was inspired by the science in America.

 

I graduated in 1968 and did an MBA at Auburn University in Alabama, returning to Egypt in 1973 following President Nasser’s death.

I went into the family cotton business which we had started again from scratch. We had our second chance to rebuild in Egypt.

 

And so always, I remember, gratefully, my second chance here in Raleigh.

Sometimes I have to pinch myself that what happened afterwards is for real. Mo the waiter now employs 60,000 people around the world.

We build cars and sell bulldozers.

We own hotels and have partnerships with Caterpillar, General Motors and many other companies.

We invested in Facebook, Airbnb and Uber, and established a venture capital firm in Silicon Valley that is backing more than 50 tech start-ups today, 25 of which have gone for first and second raises.

We’ve invested in schools, sports academies and football teams.

We have employees in China and California and almost everywhere in between.

 

My family have become philanthropists as well as capitalists.

I created a foundation to give financial support – well over four million loans – to women in Egypt.

My charity is about opportunities and second chances – the same second chance I gained here.

It is part of my life and business philosophy.

 

So I accept this honorary doctorate with great humility and enormous gratitude.

It is a wonderful gift, but for me the true wonder today is all of you, graduating here.

We all know there are huge challenges facing the world. Conflicts are becoming more common. Globalisation has gone into reverse. Democracy is in retreat. Climate change threatens the planet.

But seeing you all here reaffirms my optimism for the future.

 

Together we can all say we did not flunk! We have our second chance.

Please – when you get a second chance, seize it, learn from it, and be grateful for it.

 

We reached the winning post.   We got there.

You are the possible.

You are the future, as I once was.

And you have the hope, energy, talent as well as drive and ambition to take all of us into the future. This is your time.

 

I thank you. And God bless.

Mr Mohamed Mansour, the internationally renowned Egyptian business leader and philanthropist, has been awarded an honorary doctorate by North Carolina State University (“NC State”), his alma mater.

In recognition of his decades of life-changing philanthropy in Egypt and internationally, Mr Mansour was made an ‘Honorary Doctor of Humane Letters’, the highest honour the university can bestow, at a ceremony in Raleigh, North Carolina on 7 May.

In addition to receiving an honorary doctorate, Mr Mansour was invited to deliver the keynote address at the University’s commencement ceremony. He addressed an audience at Raleigh’s landmark PNC Arena of around 20,000 people, thought to be the largest ever attendance for an NC State commencement, including the graduating Class of 2022 and the students’ family and friends, as well as faculty members, academics and other university staff.

Mr Mansour used his speech to share an important message about seizing opportunities and making the most of ‘second chances’ in life, drawing on his personal experiences at NC State and how he recovered from early mistakes and setbacks with the trust and support of the university in general and one professor in particular.

It is believed Mr Mansour is among the first Egyptians to be given an honorary doctorate by a US university. He studied at NC State from 1964-68, graduating in textile technology aged 20. He later studied for an MBA at Auburn University in Alabama before returning to Egypt in 1973.

Mr Mansour went on to be Co-Founder and Chair of the Mansour Group, the global conglomerate. Among the businesses in the group are Mansour Automotive Company, a leading Egyptian and regional automotive distributor; Mantrac Group, one of the world’s largest distributors of Caterpillar machines; and ManCapital LLP, the Mansour family’s private investment firm.

Raleigh, North Carolina was Mr Mansour’s first home outside of Egypt after moving from Alexandria aged 15 and the university still holds a special place in his affections. Mr Mansour’s father, the late Mr Loutfy Mansour, a successful cotton exporter, had wanted him and his brothers to go to NC State University because it was then – and still is – renowned for its textiles programme.

Mr Mansour is a committed philanthropist in Egypt and internationally. Among the many programmes that he has created over many years, he is the founder and Chairman of the Lead Foundation, a ground-breaking non-profit organisation established almost 20 years ago that empowers and provides funding to small enterprises owned by women in Egypt.

 Reflecting on the ceremony and award, Mr Mansour said:
“My time at NC State undoubtedly shaped me as a human being and provided me with the building blocks which allowed me to go on and build successful global businesses and give back throughout my life.

“When I arrived from Egypt in late 1963, Raleigh was a much smaller town to what it is today but NC State was such a welcoming place for a young man to grow and thrive. The campus has developed hugely over the years but that welcoming environment has not changed.

“It was a tremendous privilege to be invited back to receive an Honorary Doctorate and address this year’s latest generation of bright, young graduates ready to take their next step in life.”

Commenting on Mr Mansour’s recognition by NC State, the university’s Chancellor, Dr Randolph Woodson said:
“Honorary Doctoral Degrees are only awarded to individuals who have attained achievements of extraordinary and lasting distinction and made outstanding contributions to scholarship, creativity, leadership, and humanitarian or public service.

“No one embodies these qualities and reflects the mission of the University more than Mr Mansour. His longevity and success as a business leader and philanthropist are worthy of celebration, and we were delighted to welcome Mr Mansour back so many years after he originally attended NC State as an undergraduate.”

Dr. David Hinks, Dean of Wilson College of Textiles, said:
“The Wilson College of Textiles has always been so proud to call Mr. Mansour an alumnus. For many years we have been enormously impressed by his humanity and sense of purpose. He has enjoyed extraordinary success as an entrepreneur and business leader but has remained true to his strong principles and values.

“The theme of second chances is something that really resonates with a lot of our students at NC State. As Mr Mansour said in his speech, ‘we all deserve second chances’ and often those moments become turning points, as in his own extraordinary life.”

Right To Dream, the global opportunity-creating ecosystem of football academies, professional football clubs and partnering colleges and universities, founded by visionary British social entrepreneur, Tom Vernon, has formed a new €100 million partnership with Man Capital LLP (“Man Capital”) to help bring greater access, opportunity and equality through football.

The investment in Right To Dream by Man Capital, the UK-based investment arm of the Egyptian Mansour Group, a family-owned global conglomerate, is being made through Man Sports, a new entity established for the partnership. Focus will be on establishing a Right To Dream academy in Egypt, and furthering the activities of the Right To Dream academy in Ghana, the FC Nordsjælland club and academy in Denmark, exploring UK opportunities at club and academy level, and expanding women’s and girl’s programmes across the organisation.

Under the terms of the partnership, Man Sports will assume majority control of Right to Dream with Tom Vernon remaining the other significant shareholder. Mr Mohamed Mansour, the Founder and Chairman of Man Capital, becomes Chairman of the Board of Right To Dream, while his son, Mr Loutfy Mansour, the CEO of Man Capital, becomes a Board member.

The partnership enables Right To Dream to hire new senior leaders across the organisation, with several appointments already being made for the new venture, namely Mohammed Wasfy as MD of the new Right To Dream academy to be launched in Egypt, Pippa Grange taking on a permanent role as Group Chief Culture Officer, and Jan Laursen being promoted into the role of Chairman of FC Nordsjælland.

Tom Vernon, who continues in his role as CEO of Right To Dream Group, said: “For 20 years Right To Dream has been using football as a vehicle for social change, bringing life-changing opportunities through sport and education for children and their communities. This partnership helps Right To Dream accelerate global expansion plans to provide more opportunities for more children around the world, continuing to put people and purpose at the centre of football. With the support of the Mansour family, we continue to aspire to the creation of a new standard of purpose-driven sports for clubs academies and players.”

The first project for the new partnership sees Right To Dream build an academy in Egypt, for boys and girls, following the same model as the successful academies in Ghana and Denmark. Supporting the Government’s national development agenda, “Egypt 2030”, the Egyptian academy will be located in West Cairo, with construction expected to begin early this year ready to welcome its first group of children in 2022.

Mr Mohammed Wasfy joins Right To Dream as MD of RTD Egypt to lead this project and the development of the organisation in the country, supported by the Mansour family. Closely following the opening of the new academy will see the launch of a new professional women’s football team. This elite Women’s team will showcase purpose-driven female athletes at their best, embodying the RTD brand and model with an aspiration to recruit and attract top talent into Egyptian women’s football.

Speaking about the investment, Mr Mohamed Mansour, Chairman and Founder of Man Capital, said: “I could not be prouder to be investing in and partnering with Tom and his team at Right To Dream, who are inspirational for the life-changing work they undertake with talented boys and girls across Africa, Europe and the Americas. We have long taken a close interest in the work they are doing and are delighted to be announcing our partnership today. Not only are we a family of football fans, indeed my uncle Mostafa Kamel Mansour even represented Egypt in the 1934 World Cup, but we are committed to supporting communities across Africa, through our foundations and other philanthropic activities.”

Right To Dream academies are not simply a pipeline for talent, they are platforms of opportunity for the boys and girls who come into contact with them, on and off the field. Established in Ghana before expanding into Europe and North America, Right To Dream academies aim to merge people and purpose through the lens of football. The academies have links to world class universities and educational establishments and provide a personal development environment for young people who lack access to schooling and sport.

Having already graduated over 140 students, with 82 students currently at the academy, Right To Dream has a vision to create a global chain of academies that fundamentally change the role clubs play in football today. Pippa Grange, Right To Dream’s new Global Chief Culture Officer says, “Skills on the field are just as important as education, character development and aspiration off it. Right To Dream develops every aspect of a child’s life, giving them the best possible support and preparation to make their way in the world.”

The success of Right To Dream’s academy model is clear. In 2016, Right To Dream acquired FC Nordsjælland (FCN), the Danish Superliga club that does things differently. FCN was the first club in the world to sign with Common Goal. They launched a professional women’s football team, along with a girl’s academy and continue to maintain the ambition of developing and promoting significant numbers of players from their two academies (currently 80% of the men’s first team are from Right To Dream’s own academies) and attracting purpose led top class senior players to the model. Now, with an average age of below 22, FCN’s story is becoming well documented. Within the last 12 months, six academy players have received a call up for international duty, and since the Right To Dream acquisition in 2015, 58 academy players have received call ups to national youth teams (49 boys and 12 girls).

FCN has also generated transfer fees in excess of €65m, the majority of which being players who progressed through from the academies, over the last five years, and has coaches such as Michael Essien emerging. With Jan Laursen at the helm, stepping up to the role of Club Chairman as part of the new partnership, FCN is on track for even greater things.

Right To Dream is working towards a different future for global football. “We believe there can be a greater purpose-driven model in football where clubs take an active role in social change, rather than leaning on individual athlete-driven social consciousness. Our academies do exactly that and once Egypt is firmly established, we’ll set our sights on the UK. With our partners and our strong experienced team, we are hungry to do more for the growing elite sporting talent and educational achievements of children coming through our academies, to help them achieve their dreams”, concluded Vernon.