Ethiopia’s richest man Mohammed Al-Amoudi’s net worth soars by $2.83 billion
Ethiopian business mogul Mohammed Al-Amoudi claims the 268th spot among world’s richest billionaire.
Ethiopian business mogul Mohammed Al-Amoudi claims the 268th spot among world’s richest billionaire.
In an effort to unlock value from his early investments, Al-Amoudi is presently exploring the sale of his interest in Preem.
Preem, which Al-Amoudi controls, has more than 550 petrol stations and two refineries in Gothenburg and Lysekil,
As one of the largest investors in Sweden, Al-Amoudi owns Preem, Svenska Petroleum Exploration, and Midroc Europe.
The recent upswing in Al-Amoudi’s wealth follows a temporary exit from the Bloomberg Billionaires Index.
Despite the decrease in his net worth, Al-Amoudi remains a prominent figure in the Middle East and Africa.
Al-Amoudi holds the 500th spot on the Bloomberg Billionaires Index, with a net worth of $5.05 billion.
Al-Amoudi’s net worth has risen by $160 million from $5.16 billion on March 16 to $5.32 billion on May 3.
Al Amoudi’s stake in Preem has lost almost $700 million this year.
Al-Amoudi is worth $5.62 billion at the time of writing.
The total number of African billionaires stands at 26.
Al-Amoudi is worth $5.57 billion, making him the 470th richest man in the world.
Al-Amoudi remains one of the wealthiest individuals in Africa.
Al-Amoudi is now ranked 443rd on the Bloomberg Billionaires Index.
Al-Amoudi derives the majority of his wealth from Preem, Sweden’s largest oil refiner, and Svenska.
Al-Amoudi derives the majority of his fortune from Preem and Svenska Petroleum Exploration.