Top Ten Ethiopian Billionaire List In Ascending Order
One of the African nations with the fastest growth is Ethiopia. Even though Ethiopia has experienced political and economic unrest, these entrepreneurial people are able to build successful businesses that benefit both themselves and their nation.
Additionally, the majority of them are renowned for their admirable charity endeavors. Here are Ethiopia’s top ten wealthiest individuals. This article’s material was compiled using data from interviews and several websites. Almost many Ethiopians would always think of Ali Al Amoudi when discussing the wealthiest individuals in their country. Millionaire businessman Mohammed Hussein Ali Al Amoudi, an Ethiopian-Saudi, is the owner and manager of numerous significant industrial properties in Saudi Arabia, Sweden, and Ethiopia.
His Ethiopian mother and Saudi father gave birth to him there in 1946. Al Amoudi amassed wealth in the building and real estate sectors after relocating to Saudi Arabia at the age of 19. As a result, Al Amoudi expanded his company by purchasing many Swedish oil refineries, including Svenska Petroleum Exploration and Preem, one of Sweden’s largest oil refineries. Additionally, Al Amoudi has made investments in numerous industry areas in Ethiopia through MIDROC Ethiopia.
His net worth was estimated by Forbes to be over $10.9 billion in 2016. The global decline in gold and oil prices at the time of estimation, however, resulted in a relative decline in the net value of his fortune. One of the richest people in Ethiopia is Belayneh Kindie, who was born in West Gojjam. Beginning with small-scale trade of grains, butter, and honey, Belayneh is currently involved in the import, export, hotel, rental of building materials, domestic business investment, and sales of a range of goods and services both domestically and internationally.
The “Belayneh Kindie Group (BKG)” is a sizable commercial organization that Belayneh formed in 2005.
The business group operates 22 businesses in 10 locations. Belayneh, who is in charge of the business group, has been crucial to Ethiopia’s move toward industrialization.