 He has an estimated net worth of around US$1.4 billion.During the time Ioannou resided in Egypt, he was the national UIM president.As a speed boat manufacturer he organised the first red sea rib rally and brought to this event a long list of world class royalty, celebrities, business people and adventurers, and created thereafter a series of events which included the first ever Formula 2 race in the Egyptian Nile, "les 8 heurs du nil".