Full Name: Mohammed Hussein Ali Al-Amoudi
Date of Birth: July 21, 1946
Place of Birth: Dessie, Amhara Region, Ethiopia
Occupation: Businessperson
Position: Chairman
Companies: Corral Petroleum Holdings, MIDROC Ethiopia
Primary Industries: Energy, Petroleum, Mining
Nationality: Ethiopian
Residence: Jeddah, Saudi Arabia
Net Worth (as of 11/04/2023): Approximately USD $8.41 Billion
Mohammed Hussein Ali Al-Amoudi, Ethiopia’s wealthiest individual, boasts a remarkable career spanning diverse sectors. Once ranked as the world’s second-richest black person, he’s made significant investments in Ethiopia and Sweden, overseeing a vast business empire encompassing construction, energy, agriculture, mining, hotels, and healthcare. With over 70,000 employees under his conglomerates, Corral Petroleum Holdings and MIDROC, his net worth stands at approximately $8.41 billion as of October 30, 2023.
Al-Amoudi’s journey includes facing detention during an anti-corruption campaign led by Crown Prince Mohammed bin Salman, from which he was released in January 2019 through the efforts of Ethiopia’s Prime Minister, Abiy Ahmed. Notable among his investments are the Preem refinery and Svenska Petroleum in Sweden, solidifying his global presence.
His contributions to Ethiopia include investments exceeding $1 billion, amplifying his economic influence. Al-Amoudi’s philanthropic initiatives extend to healthcare and sports, such as funding a breast cancer research center and supporting educational endeavors like the oil recovery research chair at King Saud University. Additionally, he generously donated to the William J. Clinton Foundation.
In the realm of sports, Al-Amoudi sponsored the CECAFA Cup and backed Ethiopian football. His commitment to sports infrastructure is evidenced by his pledge of 100 million Ethiopian birr for the construction of the Sheikh Mohammed Hussein Ali Al-Amoudi Stadium, completed in January 2017. Recognized for his contributions, he holds an honorary doctorate from Addis Ababa University and received the Order of the Polar Star from King Carl XVI Gustaf of Sweden. Further accolades include his honor at the 19th Arab Economic Forum Summit in 2011 for his outstanding achievements in economics, philanthropy, and sustainable development.
Work Experience:
- Chairman, Corral Petroleum Holdings, MIDROC Ethiopia
- Founder, Preem AB
Board Memberships And Advisory Roles:
- Chairman (Active), Corral Petroleum Holdings
- Chairman (Active), MIDROC Ethiopia
