The recent upswing in Al-Amoudi’s wealth follows a temporary exit from the Bloomberg Billionaires Index.
Mohammed Al-Amoudi
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Despite the decrease in his net worth, Al-Amoudi remains a prominent figure in the Middle East and Africa.
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Al-Amoudi is worth $5.57 billion, making him the 470th richest man in the world.
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Al-Amoudi derives the majority of his wealth from Preem, Sweden’s largest oil refiner, and Svenska.
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The decline in his net worth brings his year-to-date wealth loss to $1.61 billion.
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Ethiopian billionaire Mohammed Al Amoudi’s wealth slumps after earning $230 million in July
His net worth fell in the first two weeks of August by $140 million.
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Ethiopia’s wealthiest man Mohammed Al-Amoudi gains $230 million in July; net worth nears $6 billion
The increase in his net worth follows a $1-billion wealth loss in the first half of 2022.
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Al-Amoudi has lost his position as Africa’s sixth-richest man to Nigerian billionaire Mike Adenuga.
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His net worth fell after Preem, Sweden’s largest oil refiner, reported a 31-percent drop in revenue.
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The drop in the Ethiopian billionaire’s net worth can be attributed to a fall in the collective valuation of his industrial assets …