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As of January 23, 2025, Mohammed Al Amoudi is ranked 317th on the Bloomberg Billionaires Index, placing him firmly among the world’s top 400 billionaires. With an estimated net worth of $9.07 billion, Al Amoudi’s business interests span energy, mining, agriculture, and real estate, making him a key figure in global industries and one of the most prominent investors in Africa.
Global Investments and Business Portfolio
Al Amoudi’s fortune is built on a diversified portfolio of companies operating across Sweden, Saudi Arabia, and Ethiopia. His notable business holdings include:
- Preem, Sweden’s largest oil refiner, which accounts for 80% of the country’s refining capacity.
- Svenska Petroleum Exploration, a significant player in oil exploration.
- Midroc Gold, Ethiopia’s largest gold mining company, as well as the undeveloped Okote Gold Mine.
- Agricultural ventures in Ethiopia, including coffee and rice farms, alongside a 10,000-hectare land concession in Gambella.
- Various real estate and construction projects under Midroc Europe.
These investments collectively solidify his position as Ethiopia’s largest private investor and a key figure in the energy and mining industries globally. His Saudi-based gas station operator, Naft Services, also adds to his extensive portfolio.
Financial Highlights in 2024 and 2025
In 2024, Al Amoudi’s wealth experienced a steady increase, with a Year-To-Date (YTD) growth of $212 million (2.4%) by January 2025. His largest asset, Preem, saw its valuation rise by $2.5 billion in late 2023, reflecting its financial stability and growth potential.
Despite market fluctuations, Al Amoudi’s investments have maintained resilience, driven by their strategic diversification across multiple sectors.
Contributions and Challenges
Al Amoudi’s influence extends beyond business. In Ethiopia, he has invested heavily in sectors such as healthcare, education, and agriculture, contributing to the nation’s development. His philanthropic efforts include funding medical expenses for public figures and supporting infrastructure projects.
However, his career has not been without challenges. In 2017, Al Amoudi was detained in Saudi Arabia during an anti-corruption campaign and released in 2019 without any charges or explanation. During this period, his European-based businesses continued normal operations, underscoring the robustness of his enterprise.
Background and Legacy
Born in Ethiopia in 1946, Al Amoudi moved to Saudi Arabia at 19 and became a citizen. He began his career in construction and real estate, later expanding into oil, mining, and agriculture. Notably, he acquired Sweden’s OK Petroleum (now Preem) in 1994 and has since built a global business empire.
Today, at the age of 79, Al Amoudi continues to play a significant role in global industries while maintaining strong ties to Ethiopia. His story is one of strategic growth and diversification, making him a key figure among the world’s wealthiest individuals and a major contributor to the economies he invests in.
Outlook for the Future
As markets evolve, Al Amoudi’s focus on energy, mining, and sustainable agriculture positions him well for continued success. His standing as one of the world’s top 400 billionaires highlights the global significance of his investments and his ability to adapt to changing economic conditions.
