Mohammed Al Amoudi
Energy

Mohammed Al Amoudi Net Worth

Mohammed Al Amoudi is a Saudi-Ethiopian businessman who was born in 1947 in Jeddah, Saudi Arabia. He has built a successful portfolio of companies in Sweden, Saudi Arabia, and Ethiopia, with his initial fortune coming from construction in Saudi Arabia. His most valuable asset is the oil refiner Preem, the largest fuel company in Sweden. In Ethiopia, he has invested in agriculture, cement production, and gold mining, and his firm Saudi Star Agricultural Development has cultivated thousands of acres of land for various products.
Mohammed Al Amoudi is a member of Energy

Age, Biography and Wiki

Birth Year 1947
Birth Place Jeddah, Saudi Arabia, Saudi Arabia
Age 76 YEARS OLD
Native name ሞሐመድ አልዐሙዲ محمد حسين العمودي
Residence Jeddah, Saudi Arabia
Children 8

💰 Net worth: $8.1 Billion (2024)

Mohammed Al Amoudi, widely recognized as a prominent figure in the energy industry in Saudi Arabia, is estimated to have a net worth of $8.1 billion by 2024. With his astute business acumen and extensive investments in various sectors, including oil, construction, mining, and agriculture, Al Amoudi has garnered substantial wealth over the years. Believed to be one of the richest individuals in Africa, he has played a vital role in shaping the economic landscape of both Saudi Arabia and Ethiopia, where he holds significant interests. Al Amoudi's influence and success in the energy sector have solidified his status as a leading entrepreneur in the region.

2009 $9 Billion
2010 $10 Billion
2011 $12.3 Billion
2012 $12.5 Billion
2013 $13.5 Billion
2014 $15.3 Billion
2015 $10.8 Billion
2016 $8.3 Billion
2017 $8.1 Billion
2018 $10.58 Billion

Biography/Timeline

1980

Al Amoudi has invested in Ethiopia since the mid-1980s. He now has Business interests there, largely operated through MIDROC Ethiopia which was created in 1994. In 2011 it made 1.4bn birr (US$70m) of profits.

1988

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.

2005

The Ethiopian Review had also repeated unwarranted material relating to his family and to matters previously dealt with in the Al Amoudi v. Brisard case of 2005. M. Brisard had made serious and unwarranted allegations concerning engagement in the funding of terrorism in the wake of 9/11 but had subsequently apologised for the accusation. The judge found the statements to be untrue and stated that Al Amoudi "is implacably opposed to terrorism in all its forms”.

2006

Al Amoudi has been ranked among the 100 richest people by Forbes since 2006, being ranking 82nd on the list in 2015. He was awarded an honorary doctorate from Addis Ababa University and has been honoured with the Order of the Polar Star by King Carl XVI Gustaf of Sweden.

2008

In 2008, Al Amoudi funded King Saud University’s an enhanced oil recovery research chair. He also fully funded the King Abdullah Institute for Nanotechnology at King Saud University.

2010

In December 2010 Al Amoudi initiated a claim in the English High Court against Elias Kifle of the Washington, D.C.-based Ethiopian Review claiming damages for libel. In July 2011 Kifle was ordered to pay £175,000 in damages for publishing false information.

2011

Al Amoudi was honoured for his achievements in economics and philanthropy at the 19th Arab Economic Forum Summit in 2011, with special reference to his commitment to sustainable development.

2017

On 4 November, 2017, Mohammed Hussein Al Amoudi was detained in Saudi Arabia in a "corruption crackdown" conducted by a new royal anti-corruption committee. This was done on the authority of Crown Prince Mohammad Bin Salman.

2019

He owns 70% of National Oil Ethiopia, which competes with YBF, TAF OIL and five other companies in the national petrol market and is establishing a steel plant (Tossa) in Amhara. This latter is Ethiopia’s first industrial steel production plant and in intended to meet a major increase in domestic demand, estimated to rise from 1.2m tonnes to 3.1m tonnes per annum between 2011 and 2014.

Some Mohammed Al Amoudi images

About the author

Lisa Scholfield

As a Senior Writer at Famous Net Worth, I spearhead an exceptional team dedicated to uncovering and sharing the stories of pioneering individuals. My passion for unearthing untold narratives drives me to delve deep into the essence of each subject, bringing forth a unique blend of factual accuracy and narrative allure. In orchestrating the editorial workflow, I am deeply involved in every step—from initial research to the final touches of publishing, ensuring each biography not only informs but also engages and inspires our readership.