Hey there, it’s Andomoney! I’m diving deep into Mohammed Al Amoudi net worth to bring you the latest on how this billionaire magnate continues to grow his empire in 2024.
Known for his ventures in energy, gold mining, and agriculture, Al Amoudi has built a unique portfolio that spans continents. But what exactly fuels his wealth?
Let’s explore his top investments, key achievements, and the financial decisions that keep him among the richest.
Quick Facts
| FACT | DETAIL |
|---|---|
| Real Name | Mohammed Hussein Ali Al Amoudi |
| Popular Name | Mohammed Al Amoudi |
| Gender | Male |
| Birth Date | July 21, 1946 |
| Age | 78 |
| Parents | Weyzero Rakiya Mohammed Yassin, Haji Hussein Al Amoudi |
| Siblings | Saeed Al Amoudi, Saleh Al Amoudi, Hassan Al Amoudi, Abdulla Al Amoudi |
| Birthplace | Dessie, Ethiopia |
| Nationality | Ethiopian-Saudi |
| Ethnicity | Mixed (Yemeni-Ethiopian) |
| Education | Addis Ababa University | Natural Sciences Campus |
| Marital Status | Married |
| Spouse | Sofia Saleh Al Amoudi |
| Children | Eight |
| Dating | N/A |
| Net Worth | $8.5 billion (2024) |
| Source of Wealth | Oil, Gold, Construction, Real Estate |
| Height | N/A |
What is the Net Worth of Mohammed Al Amoudi in 2024?
Mohammed Al Amoudi’s net worth in 2024 is estimated at a substantial $8.5 billion.
In recent years, he’s experienced one of the largest net worth increases in the industry, thanks to his diverse portfolio, particularly in energy and gold.
His net worth rise even outpaces some of his closest financial peers, placing him in a prestigious league of notable investors. Curious to know who ranks close to Al Amoudi?
Here’s a quick look at individuals whose wealth runs parallel in similar sectors:
- Sheikh Mansour
- Aliko Dangote
- Mukesh Ambani
- Prince Alwaleed Bin Talal
- Nassef Sawiris
- Elon Musk
- Jeff Bezos
- Warren Buffett
- Jack Ma
- Bernard Arnault
For those interested in how high-profile billionaires like him stack up, you’ll love reading about other wealthy leaders and their influence on politics.
Mohammed Al Amoudi Salary and Finance Overview
Construction Ventures and Major Projects Worldwide
One of Al Amoudi’s foundational investments lies in construction and infrastructure projects across Saudi Arabia and beyond.
His conglomerate, MIDROC, has been a pioneer, with one of its most notable contracts being the $30 billion Saudi underground oil storage project.
This monumental project helped establish his foothold in the Middle East’s construction industry, providing him with long-term contracts and solidifying MIDROC’s reputation.
Additionally, MIDROC’s ventures have spanned from real estate to heavy industry, employing over 70,000 people globally.
Strategic Acquisitions in the Oil and Energy Sector
A substantial part of Mohammed Al Amoudi’s fortune comes from his strategic investments in oil. Through Corral Petroleum Holdings, he acquired Preem AB, Sweden’s largest oil refining company.
Preem’s massive refining capacity of 18 million cubic meters annually is critical to Sweden’s energy market.
Despite global pressures to reduce crude oil dependency, Al Amoudi has directed Preem towards sustainable fuel production. This focus has increased his influence in Europe’s green energy movement, allowing him to stay relevant in an evolving industry.
Expansion in Gold Mining and Natural Resources in Ethiopia
Beyond oil, his wealth is heavily supported by gold mining investments. In Ethiopia, MIDROC Gold is the largest gold producer, exporting thousands of kilograms annually.
His investments in gold mines like Lega Dembi have significantly benefited the Ethiopian economy through royalties and job creation.
By exporting Ethiopia’s gold, MIDROC plays a key role in the nation’s exports, adding a considerable boost to Al Amoudi’s personal wealth and to Ethiopia’s mining sector.
Real Estate Portfolio and Property Holdings
Al Amoudi’s investments also extend into high-value real estate assets. Notable holdings include luxury properties in Addis Ababa, London, and Saudi Arabia.
His ownership of the Sheraton Addis is a prime example of luxury hospitality, making it a landmark in Ethiopian tourism. His real estate portfolio strengthens his financial stability, ensuring revenue from diverse assets.
Energy and Sustainability Investments in Sweden and Beyond
Aiming for a future with reduced environmental impact, Mohammed Al Amoudi has guided Preem AB towards renewable energy sources, moving away from crude oil as the primary feedstock.
By 2024, Preem plans to cut crude usage by 40%, focusing on sustainable materials like used cooking oil.
These efforts align Preem with global emission targets, showing that Al Amoudi’s vision goes beyond immediate profits to include long-term environmental goals.
Diversified Agricultural Investments in Ethiopia
Agriculture is another sector Al Amoudi has committed to transforming. Through Saudi Star Agricultural, he has developed large-scale farming projects across Ethiopia, focusing on rice, coffee, and edible oils.
This strategic investment not only boosts Ethiopia’s agricultural economy but also contributes to food security.
His initiatives have drawn international attention, marking Saudi Star as a key player in African agribusiness.
Contributions to Saudi Arabian Economic and Industrial Projects
In addition to his Ethiopian projects, he has invested in Saudi Arabia’s industrial and manufacturing sectors.
One prominent project is his support for King Saud University’s automotive program, which produced Saudi Arabia’s first car, the Gazal-1.
His funding for nanotechnology research at King Saud University reflects his commitment to scientific advancement and local industry growth, proving his influence goes beyond personal gain to foster national development.
Philanthropy and Community Contributions in Africa and Saudi Arabia
Al Amoudi’s philanthropic efforts are noteworthy. He’s a major donor in healthcare, supporting breast cancer research at King Abdulaziz University.
His $88 million pledge towards Ethiopia’s Renaissance Dam and contributions to Ethiopian sports initiatives highlight his dedication to community development.
These projects have not only cemented his legacy but have also brought lasting benefits to Ethiopia and Saudi Arabia.
Awards, Honors, and Recognition
An honorary doctorate from Addis Ababa University and the Order of the Polar Star from Sweden honor his work across multiple sectors.
His achievements in sustainable energy, philanthropy, and industry have earned him widespread recognition, ensuring his legacy in both his home countries and abroad.
FAQs about Mohammed Al Amoudi
What are the main sources of his wealth?
He primarily derives wealth from oil, gold mining, construction, and real estate investments.
Where does he primarily live?
He resides between London, Surrey, and Saudi Arabia.
What companies does he own?
He owns MIDROC, Corral Petroleum Holdings, and Saudi Star Agricultural, among others.
How many children does Mohammed Al Amoudi have?
He has eight children.
What significant projects has he funded?
He’s funded Saudi Arabia’s Gazal-1 car project and contributed $88 million to Ethiopia’s Renaissance Dam.
What awards has he received?
Notably, he’s earned an honorary doctorate from Addis Ababa University and Sweden’s Order of the Polar Star.
What philanthropic causes does he support?
He supports healthcare, sports, and educational initiatives, particularly in Ethiopia and Saudi Arabia.
Is he involved in agriculture?
Yes, through Saudi Star Agricultural, he develops farming projects in Ethiopia, focusing on rice and coffee.
Conclusion
Incredible wealth, strategic investments, and a philanthropic legacy define Mohammed Al Amoudi’s remarkable journey. For more on fascinating financial profiles, join us at andomoney.com and share your thoughts below!
