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Top 15 Richest Ethiopians & Their Successful Companies in 2019

11. Mohammed Al Amoudi 

richest ethiopians mohammed al amoudi

Mohammed Al Amoudi born in 1946 to an Ethiopian mother of Wollo Amhara descent and a Hadhrami Yemeni father is an Ethiopian and Saudi Arabian citizen. He was raised born in north central Ethiopia, in the city of Dessie in the Wollo region, but grew up in Woldia.

Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country.

Al Amoudi would begin his journey to astronomical wealth by venturing in the fields of construction and real estate.

By 1988, Al Amoudi’s company MIDROC or Mohammed International Development Research and Organization Companies would land a 30,000,000,000 USD or 810,000,000,000 ETB contract to build an underground oil storage complex for Saudi Arabia.

From there, he would buy oil refineries in Morocco and Sweden, engage in oil exploration off West Africa, open one of Africa’s best hotels (Sheraton Addis), finance a factory to build Saudi’s first car, begin gold mining, steel production, tire production and enter the oil market in Ethiopia.

A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests.

He was named as Ethiopia’s richest man, the 2nd richest black person in the world, and the 2nd richest Saudi Arabian, all this proves that Mohammed Al Amoudi has earned the title of tycoon. 

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