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March 17, 2005

No1 in Ethiopia - No 243 in the world

Thanks to Nazret.com's EthioBlog for pointing to this entry on Ethiopia's richest man in Forbes's annual listing of the world's richest people. Mohammed Al Amoudi came in 243rd place.

Mohammed Al Amoudi

Source: oil

Net Worth: $2.5 bil up

Country of citizenship: Saudi Arabia
Residence: Jeddah, Saudi Arabia
Industry: Oil/Gas
Marital Status: married

Born in Ethiopia and now a Saudi citizen, Al Amoudi made his fortune in construction and real estate before expanding into oil refineries in Sweden and Morocco. Now he's plowing refinery profits into his native Ethiopia buying assets and bankrolling the national soccer team. His Sheraton Addis Ababa Hotel, which hosted U2 front man Bono when he toured Africa, faces new competition from Saudi Arabia's richest man, Prince Alwaleed Bin Talal, who is negotiating to buy the once-grand Ghion Hotel, built by the late Ethiopian emperor Haile Selassie.

Posted by aheavens at March 17, 2005 4:26 AM