This chapter contributes a re-thought narrative of the evolution of socio-economic inequality in Egypt since the 1950s, by incorporating other facets of inequality and exploring inequality of opportunity which explains an important part of the Egyptian people’s capacity for upward mobility. The chapter starts by conducting a historical review of income and expenditure inequality which is moderate by global levels even after accounting for top incomes, and where there has been a strong reduction over the past seventy-five years. Wealth inequality is also assessed, with Egypt showing moderate levels in global comparisons. Similarly, significant declines were found in social inequalities, including vertical and horizontal inequalities in health and education. However, the main challenge for Egypt lies in inequality of opportunity, which was persistently high, especially in secondary education. This constrains people’s ability to improve their economic standing and leaves them trapped in uncontrollable circumstances.