Who Is The Richest Man In Ethiopia ? Mohammed Hussein Al Amoudi
The Richest Man In Ethiopia – Mohammed Hussein Al Amoudi as the Richest Man In Ethiopia is an Ethiopian-Saudi billionaire businessman. He was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother.
How did Mohammed Al Amoudi become rich?
He made his initial fortune in construction in Saudi Arabia. One of his most valuable assets is oil refiner Preem, which bills itself as the largest fuel company in Sweden. In Ethiopia he has invested in agriculture, cement production and gold mining.
Mohammed Hussein Al Amoudi Biography : Net worth and Lifestyle
Mohammed Hussein Al Amoudi Profile summary
Full name: Mohammed Hussein Al Amoudi
Born : July 21, 1946 (age 75 years), Dessie, Ethiopia
Nationality : Saudi
Spouse : Sofia Saleh Al Amoudi
Partner : Mahder Assefa
Siblings : Saeed Al Amoudi, Saleh Al Amoudi, Hassan Al Amoudi, Abdulla Al Amoudi
Parents : Weyzero Rakiya Mohammed Yassin, Haji Hussein Al Amoudi
Mohammed Hussein Al Amoudi Biography
Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. In 2016, his net worth was estimated by Forbes at approximately $10.9 billion and a relative fall in net value was linked to the global fall in oil and gold prices at the time of estimation. He was also listed as Ethiopia’s richest man, the second richest Saudi Arabian citizen in the world and the second richest person of African descent in the world. Al Amoudi made his fortune in construction and real estate before branching out to buy oil refineries in Sweden and Morocco. He is the largest individual foreign investor in Ethiopia and a major investor in Sweden.
Mohammed Hussein Al Amoudi Career Life
Al Amoudi owns a broad portfolio of businesses in construction, energy, agriculture, mining, hotels, healthcare and manufacturing amongst others. His businesses are largely to be found within two conglomerate holding and operating companies, Corral Petroleum Holdings and MIDROC, both which he owns and manages. He employs over 70,000 people through these companies.
Al Amoudi’s construction company consortium, Mohammed International Development Research and Organization Companies, also known as MIDROC, won a contract to build Saudi Arabia’s estimated $30 billion nationwide underground oil storage complex in 1988. MIDROC acquired Yanbu Steel in Saudi Arabia in 2000.
In addition to his business interests in Ethiopia, he also owns oil refineries in Morocco and Sweden (Svenska Petroleum Exploration AB) and is engaged in energy exploration and production off West Africa and elsewhere. His Addis Ababa Sheraton is said to be among the finest hotels in Africa.
He has recently pledged US$275 million alongside other Saudi and South Korean investors through MIDROC to finance a factory to build Saudi Arabia’s first car, to be called Gazal-1, in a project initiated by King Saud University and, in September 2011, it was announced that he planned to invest around US$1.07bn (4bn Saudi Riyals) in two major Saudi industrial projects (phosphate derivatives and sulfur) in Ras Al-Khair [Eastern Region] and Jubail Industrial City respectively.
Mohammed Hussein Al Amoudi Net Worth 2021
Mohammed Hussein Al Amoudi is currently the richest man in Ethiopia , with an estimated net worth of low as $6 billion and as high as $12 billion in recent years.
Where is Mohammed Hussein Al Amoudi now?
According to the BBC, Al Amoudi splits his residence between central London, Surrey and Saudi Arabia.