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Mohammed Hussein Al Amoudi Biography. Furthermore, continually looking to grow, Ketema would also begin to manufacture acrylic yarn and blankets, engage in real estate development, and operate a transit and forwarding company. Furthermore, Akikos OBG also engages in construction machinery rental, spas, gyms, and logistical work. Tekleberhan has also opened up Edna Mall, housing a modern movie theater, and one of only two countries in Africa that receive Hollywood movies directly upon their release. His sibling Naguib . If we simply consider a nation's gross domestic productthe sum of all goods and services produced by a country during one yearthen we would have to conclude that the richest nations are exactly the ones with the largest GDP: United States, China, Japan, Germany. As a result, Ndungu and Maina, who had a combined 38-percent stake in the now-defunct holding company, will not receive any compensation for their investments. Who is the second richest person in Ethiopia. Kenya - $269.29 billion. Seeing this unfortunate management crisis, Suhura returned to the helm of the business. Who is the first billionaire in Ethiopia? Elon Musk. Primarily engaged in the export of oil seeds and other similar products, BKIE rose to become the Ethiopia's largest exporters of sesame seeds by 2010. The data and graphics were last updated on November 8th, 2021. She also has a criminal image of herself among the people of Ethiopia, with the name mother of corruption given to her by the people. Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. However, the companys payouts decreased in the following years, with Ksh290.3 million ($2.5 million), Ksh876.5 million ($7.51 million), and Ksh559.9 million ($4.8 million) paid out in 2017, 2018, and 2019, respectively. Aside from his leadership role in Ethiopias first and only indigenous oil and gas company, SouthWest Energy, the leading business tycoon played a vital role in transforming the Ethiopian energy sector. As of March 2, 2023, 6:02 PM EST The Bloomberg Billionaires Index is a . In 2010, she retired from the group, leaving her empire to be managed by her sons. Tewodros also sits on a multitude of boards, think tanks, as well as, being a winner of international awards. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. He's worth $4.5 billion and is the 638th richest person in the world. 3. | Website by ethioSEO | Terms of Use | Privacy Policy | Disclosure | Cookies Policy. Fluent in Arabic, Swahili, English and Amharic the multilingual Ermias would drop out from Haile Selassie I University after only a year and move to the United States, where he would study and become an economist. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort. At the time of writing, Co-op Bank shares on the Nairobi Securities Exchange were trading at Ksh12.5 ($0.0985), 4 basis points lower than their opening price this morning, pushing the companys market capitalization further below the Ksh74-billion ($580 million) mark. How does your net worth compare to the fortunes of the wealthiest people in the United States? Musk might hold the current title of the richest person in the world, but he also holds a record for the biggest fortune ever lost by anyone in history. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. He would leave the farm and become a school teacher and a political activist. While people on more modest incomes have also seen their assets rise in value during the pandemic, Oxfam said the 10 richest men own six times as much wealth as the bottom 40% (3.1 billion people). In 2020, private wealth in Ethiopia was estimated at $57 billion, $1-billion higher than the figure for Ghana and $33-billion lower than Kenyas $90 billion. began its explosive rise as one of Ethiopias largest business enterprises. From Nigeria, he is the founder and . The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Jeff Bezos. This financing will aid Co-op Bank in strengthening its capital base, with Norfund participating in the financing through a direct credit line of $16 million and an additional $3.4 million through European Financing Partners. This billion dollar deal is Ethiopia's largest ever privatization agreement. Through this substantial amount of funding, Co-op Bank is poised to provide much-needed support to micro, small, and medium enterprises (MSMEs) while simultaneously positioning the bank for future growth. It has the power to change the world.. Forbes places Mohammed Al Amoudis fortune at $8.1 billion as of 2017. Although no longer living, Mohammed Ture's company is run by 6 members of the Ture family. 5. Here's how American families, from the poorest to the richest, spend their money +16 16 great furniture designers of the last century inspiring today's design trends : 1, 3 In their 2017 list that ranked Canada's top 100 richest people, Toronto-based Rob McEwen of McEwen Mining, . Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. $180 Billion. Seyoum Mesfin - $1.8 Billion. His company is now worth 12,000,000 USD or 324,000,000 ETB, making him one of Ethiopia's richest people. Unfortunately, his family's finances would force him to drop out after three years of higher learning, just short of receiving his degree. Today, the group maintains active operations in trade, transportation, construction material rentals, hotels, domestic business investments and product and service sales in Ethiopia and abroad. He is extremely influential in the country. A significant percentage of the countrys richest individuals are politicians. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. He is the leading name behind Nejat International which is involved in supplying high-grade coffee to other countries around the world. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. Samuel Tafesse's company now engages in large-scale road and bridge projects, large scale real estate developments, the building of residential properties, hotel and commercial building construction. Eyob Joe Mamo is an Ethiopian oil tycoon known for running and controlling half of the gas stations in Washington, D.C., through Capitol Petroleum Group, a leading wholesale distributor of petroleum services in the Metro D.C. area and New York City. Belayneh Kindie: Belayneh Kindie started his business, Belayneh Kindie Import and Export (BKIE), in 2005 with a startup capital of just 111,000 USD or 3,000,000 ETB. The IIFL Wealth Hurun India Rich List has revealed the top 100 wealthiest people in the country. Before becoming the prime minister of his native country, Zenawi was the president of Ethiopia in the nineties (from 1991 to 1995). booming construction industry in Ethiopia. He is still one of the most influential people in the whole of Ethiopia today. Nigeria - $514.05 billion. Through the crafty use of his familys trading background, Ketema began to retail acrylic yarn and other similar items that were in high demand throughout Ethiopia. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. Kwabena Duffuor Net Worth - $680 Million. Eyob Joe Mamo is an Ethiopian oil tycoon known for running and controlling half of the gas stations in Washington, D.C., through Capitol Petroleum Group, a leading wholesale distributor of petroleum services in the Metro D.C. area and New York City. He lives in Glencoe. Ermias would create, develop and fund huge and lucrative businesses such as Royal Crown Mineral Water Factory (Highland water), Access Capital, Access Bank, Access Real Estate, Zemen Bank, and Jano Music Band among others. He was previously a member of the politburo of TPLF and was close to the dictator. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. Paul Ndungu, a prominent Kenyan businessman and shareholder in Pevans East Africa, the company behind the popular SportPesa betting brand, is auctioning off a residential property located in Nairobi. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. Moreover, she was also elected as Miss ECOWAS in 2013, winning a cash prize of $6,000 US dollars. Patrick T. Fallon/Bloomberg. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. In addition to this, Tewodros would become the Chairman and CEO of SouthWest Energy, the first and only local oil and gas organization. Kanye West. 2. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. His company, the Dangote group started as a small trading firm in 1977. South Africa - $861.93 billion. His father, who owned Mamo Kacha a bus transport company in Addis Ababa, sent Eyob to a Dakota boarding school to protect him from the ruling military Derg government. Source: Oil & Gas, Real Estate and Technology. Celebrity Net Worth estimates Al-Amoudis net worth to be around $8.3 billion whereas Bloomberg places his net worth at $5.46 billion. Throughout the years, the company has delivered over 2,800 housing units with more on the way. According to the latest 2022 Africa Wealth Report, the total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years. The Ethiopian men and women who have spearheaded the country's phenomenal growth stem from various backgrounds, ethnicities, and religions. He has been chairman of Ethiopian Airlines. Today, Tashitaa has over 300 trucks and vans, and transports about 15,000 people a day. Angola - $217.97 billion. Recently, Akiko, along with the Italian Enel Green Power, was to sign a 3,240,000,000 ETB or 120,000,000 USD to develop, operate and build a solar power generation plant in Metehara. Ethiopians are known to be hard workers and passionate about their chosen endeavors. Algeria . Beginning his career with Merril Lynch & Co. in New York, Tewodros would go on to be a consultant for large multinational corporations looking to invest primarily in South America and the Commonwealth of Independent States. 1. Ethiopia-born billionaire Mohammed Al-Amoudi. Akiko's deal with the EEP or Ethiopian Electric Power would make her the first Ethiopian to build a privately owned and operated solar plant in the country. Companies run by Buzayehu include: Bizenu Investments Plc., East African Agri-Business Plc., Cosmar East Africa Business Plc., East African Group (Eth) Plc., East African Tiger Brands Plc., Ethio-Asia Industries Plc., National Cement S.C., East African Coal Mining Corporation Plc., East African Real Estate Development Plc., National Transport Plc., National Premix Construction Plc., Hamaressa Edible Oil S.C., and Distribution Outlets (over 21 located throughout Ethiopia). The Kenyan banking firm, which has 109 branches in Kenya, Uganda, Tanzania, Rwanda, and the Ivory Coast, was formed in 2019 by the merger of NIC Bank Group and Commercial Bank of Africa Group. 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.