Mohammed Al Amoudi is the richest black man in the World: Ethiopia's Al-amoudi building $ 150 million hotel in Yemen

Ethiopia's Al-amoudi building $ 150 million hotel in Yemen

08/18/08

02:44:48 pm, by nazret.com, 324 words

Categories: Business, Ethiopia, Mohammed Hussien Al Amoudi

Ethiopia's Al-amoudi building $ 150 million hotel in Yemen

Ethiopia's Al-amoudi building $ 150 million hotel in Yemen

By Tedla Yeneakal

Source: Capital

Ethiopia born Saudi business tycoon, Sheik Mohammed Al-amoudi who is also the chairman of Golden Leaves Hotels and Resorts Ltd, late last month laid a foundation stone for a hotel project in the Aser area of Sana’a, Yemen, estimated to cost 150 million USD.

Sources disclosed to Capital that the hotel that will be established on 150,000 square meters is expected to be completed within three years.
According to information obtained, Sheik Al-amoudi decided to build a hotel after a discussion he held with Yemeni officials at a Conference for Investment Opportunities, held in Sana’a in April 2007.
Al Amoudi owns a wide ranging business portfolio, notable amongst which are oil refineries in Sweden and Morocco, gold mines, agriculture projects and industrial projects. He is also the founder and chairman of MIDROC Ethiopia Group, which owns diversified business sectors in Ethiopia. His hotels portfolio includes properties in Ethiopia, Uganda, Djibouti, Morocco, Saudi Arabia, Europe and Yemen where two new hotels are under construction.

In 2008, Forbes magazine ranked Mohammed Al Amoudi as the 77th richest person in the world with a net worth of $9 billion. Mohammed Al Amoudi is Ethiopia’s richest person and the richest black person in the world. In 2006 his net worth was estimated as between $2.5 and $6.9 billion, causing Arabian Business to rank him as the world’s 8th richest Arab, and Forbes to rank him as the world’s 77th richest person. Al Amoudi’s father is Yemeni and his mother is Ethiopian. He immigrated to Saudi Arabia in 1965 and became a Saudi citizen. Depending on disparate ethnic categorizations, and Al Amoudi’s mixed Ethiopian and Yemeni parentage, he is one of the richest Arabs.

Al Amoudi made his fortune in construction and real estate before branching out to buy oil refineries in Sweden and Morocco. He is said to be the largest foreign investor in both Sweden and Ethiopia.

Permalink 17 comments »

17 comments

Comment from: Ethiopia Tefferri [Visitor]

Keep up the good job Mohammed.

08/18/08 @ 16:18

Comment from: gimatam shabiya [Visitor]

god bless you, Alamudi. You are true Ethiopian
.I curse those enemies of you and your
beloved land Ethiopia by the name of God.

08/18/08 @ 17:50

Comment from: philly [Visitor]

ethiopia is for sale like kenya, and many other african countries. while they talk about investment and development, millions of people in each country live below the poverty line or are dying as we speak. what good are all those fake african gov't that work for rich people rather than their own people.

consider kenya, almost everything is owned by foreigners, while the majority of ordinary people struggle. while kenya makes billions on tourism, not one cent goes to ordinary people.

ethiopia is for sale to the highest bidder

08/18/08 @ 18:45

Comment from: d [Visitor]

philly even though you are a treacherous eritrean with no moral compass I agree with you. And in my opinion, eritrea is worse off bcuz it has no natural resources.

08/18/08 @ 19:31

Comment from: Arsii Oromia Ethiopia [Visitor]

Eritrea has nothing to offer it's people and for foreigners :))

Sheik Alamoudi is doing his thang while the Italian Slaves are stuck with Isaias :lalala:

08/18/08 @ 23:38

Comment from: Truth 2000 the Lion of Judah [Visitor]

I personally didn't know any other people in the world as envious as Eritreans.Their dream of being singapore and Thailand has turned out to be a nightmare and now they have begun to discuss other countries' good opportunities.However, it is good to have enemies like them so that as they get more envious, we become tougher and tougher than ever before.

08/19/08 @ 00:01

Comment from: Natti [Visitor]

this guy is crazy he don't think why don't he a good farm place with new technology instead of opening hotels? people are dying we have to make some thing.

08/19/08 @ 09:33

Comment from: dedeb [Visitor]

this man is changing the shape of the red sea area

08/19/08 @ 14:17

Comment from: soodo [Visitor]

he make all that money in ETHIOPIA when he buy Adola god profit was 40% now 180% thanks 4 Meles.

08/19/08 @ 19:01

Comment from: Ababu [Visitor]

What an extraordinary investment? I wish he could make a profitable investment in the area of importing and selling food items to the femished people of Ethiopia. This would have benefited the invetor who was able to collect a huge sum of capital from the very people. Please consider this potentially rewarding area of investment!!!

08/19/08 @ 23:38

Comment from: Ababu [Visitor]

What an extraordinary investment? I wish he could make a profitable investment in the area of importing and selling food items to the femished people of Ethiopia. This would have benefited the invetor who was able to collect a huge sum of capital from the very people whom he allegedly would like to benefit. Please consider this potentially rewarding area of investment!!!

08/19/08 @ 23:41