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Saudi Arabian/Ethiopian businessman and billionaire, Mohammed Al-Amoudi has an estimated net worth of $8.35 billion in May 2019. The son of Saudi father and Ethiopian mother, Al Amoudi started investing in Sweden in the 1970s. His construction company Midroc scored a contract to build Saudi Arabia’s nationwide underground oil storage complex in 1988; estimated $30 billion project solidified his fortune. Mohammed Al-Amoudi is the richest black person in the world. He has been investing in Ethiopia since the late 1980s.
Earnings & Financial Data
Date |
Category |
Description |
Amount |
---|---|---|---|
2011 |
Asset |
Value of his investment in Ethiopia through his MIDROC Ethiopia Investment Group to be ploughed into agriculture, cement, steel, transport and hospitality |
$3,400,000,000 |
2011 |
Asset |
Value of his investment in two major Saudi industrial projects (Ras Al Khair and Jubail Industrial City) |
$1,070,000,000 |
2011 |
Asset |
Value of the investment through Saudi Star Agricultural Development Plc in Ethiopian rice projects |
$2,500,000,000 |
2010 |
Earnings |
Profit from MIDROC Ethiopia |
$70,000,000 |
1993 |
Asset |
Value of his acquisition in Sweden’s largest integrated energy company, OK Petroleum, which was subsequently renamed Preem Petroleum |
$750,000,000 |