Mohammed Al Amoudi
| Mohammed Hussein Al Amoudi | |
|---|---|
| Native name | ሞሐመድ አልዐሙዲ محمد حسين العمودي |
| Born | Dessie, Ethiopia |
| Residence | Jeddah, Saudi Arabia |
| Nationality | Ethiopian |
| Net worth | US$8.8 billion (December 2016) |
| Children | 8 |
Mohammed Hussein Ali Al-'Amoudi (Amharic: ሞሐመድ አልዐሙዲ?, Arabic: محمد حسين العمودي) is a Saudi Arabian and Ethiopian billionaire businessman. 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 black person 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.
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.
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