Discover the lifestyle of the richest person in Ethiopia: Al Amoudi establishes a $8.1B net worth

September 22, 2023
2 mins read
Richest person in Ethiopia

Before we indulge into knowing about the richest person in Ethiopia, let’s have a look at the country first. Regarding the population, Ethiopia stands at number two in Africa. Also, remember, looking at the numbers, it can be called one of the fastest-growing economies in Africa. But, considering the entire world economy, they are unfortunately in the lower section of the chart. But, the country looks forward to reaching a lower middle-class status in a few years. Though the economic conditions may not be of the top tier, some people have made their name in the country and earned wealth. One such individual is Mohammed Hussein Al Amoudi, currently the richest person in Ethiopia. 

Mohammed Hussein Al Amoudi is the richest person in Ethiopia and the second-richest Saudi Arabian citizen. That’s not all. He is also the second richest person of African descent

Al Amoudi owes his wealth to his comprehensive portfolio when it comes to business. He probably still needs to try his hands at a handful of business arenas. Presently, he is involved in construction, energy, agriculture, mining, hotels, healthcare and manufacturing. Majorly all these spheres of his business lie under two conglomerate holding and operating companies he owns and manages- Corral Petroleum Holdings and MDROC. 

Among his businesses, Amoudi is well known for his oil refineries in Morocco and Sweden. Except for that, he owns one of the most luxurious, extravagant and beautiful hotels in Africa, Addis Ababa Sheraton.

Being the richest person in Ethiopia, as of August 2023, the net worth of Al Amoudi is $8.1B. 

Also Read: Meet the richest person in Indonesia

Early life of the richest person in Ethiopia

Richest person in Ethiopia

Al Amoudi was born in Ethiopia to an Ethiopian mother and a Yemeni father. He spent his early life in Ethiopia until he and his brother decided to emigrate to Saudi Arabia and take citizenship of the country. 

At the beginning of his life as a businessman, he made wise investments in construction and real estate. After that, he added oil refineries to his focus, and slowly, many other spheres came in, as was mentioned earlier. 

Later on, he invested in gold mining, agriculture, and so on in Ethiopia. This resulted in not only him adding a few more thousand to his earnings but also added to the country’s wealth. 

Family life of Al Amoudi

Richest person in Ethiopia

Al Amoudi has been married once to Sofia Saleh Al Amoudi. She is a Saudi citizen, and the two families mutually agreed upon marriage. Interestingly, Sofia also holds shares in MIDROC Construction

Al Amoudi and his wife Sofia together have eight children. Their eldest son is Abdul Rahman Al Amoudi, who has been trying to follow in his father’s footsteps and, being the most senior, has already been announced as the heir to Amoudi’s self-proclaimed throne. 

Properties owned by Al Amoudi

Richest person in Ethiopia
Addis Ababa Sheraton

Exact details of Amoudi’s properties are only available if he likes to keep things private. So, it has yet to be known to the world about his residency and whether he has a number of houses in different parts of the world.

But, something to be noted is that Amoudi is a considerable investor when it comes to land and is the largest landowner in Saudi. So, talking about properties and land, he owns a number of them across the globe. According to sources, he owns properties in Switzerland, America, and Saudi Arabia. It is rumoured that Amoudi’s Saudi Arabian properties are worth $3 billion. 

Also Read: Discover the lifestyle of the richest person in Nigeria


So, the richest individual’s life is not a bed of flowers, even if they sometimes face a bed of thorns. That is how life works for everyone. But this man is a self-made billionaire and now the richest individual in a developing country. His efforts have helped him reach this pinnacle. 

Also read: Know about the lifestyle of the richest person in China

Small town girl with big dreams. Pursuing her Masters degree in Journalism from Symbiosis Institute of Media and Communication, and aiming towards being a Travel Journalist. An avid reader, dancer and ever ready to pen down thoughts. Always up for binge watching and chai on repeat. A travel enthusiast, dog-lover, foodie, patron of art and culture. Preacher of the following vision by Vincent Van Gogh, "What is done in love, is done well".

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