His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization or ISO. In addition to this, Tewodros would become the Chairman and CEO of SouthWest Energy, the first and only local oil and gas organization. With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Mamo is the CEO of the D.C.-based group. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. Late last year, Musk became the first person ever to lose $200 billion in wealth after his net worth slid from some $340 billion in Nov. 2021 to $137 billion in Dec. 2022. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. Always one looking for more, Samuel would go on to sign agreements with Marriott International and Hilton Worldwide to develop 3 hotel brands in Ethiopia under his company. It's when a person is young and chock full of new emotions that they connect the most intensely with certain songs or performers, after all. Whitney MacMillan (conceived September 25, 1929) is a beneficiary to the Cargill-MacMillan fortune and filled in as the CEO of Cargill, America's most significant privately owned business. Age: 55 years (as of 2023) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. It spans . Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. Taking the position of Prime Minister of Ethiopia from 1995 (until his death in August 2012), Zenawi was hailed as one of Africas strongmen, introducing a multi-party political system, and private press in the country, and reducing child mortality rates. Elon Musk. For some context, . Up next with a net worth of $680 million is Kwabena Duffuor. . The closest and most trusted friend of Meles and Azeb. View profiles for each of the world's 500 richest people, see the biggest movers, and compare fortunes or track returns. The $161 million bump in his wealth figures can be attributed to the strong performance of his industrial assets in Ethiopia, Saudi Arabia, and Sweden, which continues to track the performance of publicly . Musk might hold the current title of the richest person in the world, but he also holds a record for the biggest fortune ever lost by anyone in history. From the beautifully designed Bole Road-Wello Sefer overpass to various other projects all over Ethiopia, he and his company have received a multitude of accolades. By 2011, Suhura was selling between 30-40 tons of khat every day and was also using Ethiopian embassies and consulates as a means of organizing sales worldwide. In 2010, she retired from the group, leaving her empire to be managed by her sons. Tewodros also sits on a multitude of boards, think tanks, as well as, being a winner of international awards. One of the factors contributing to . Eyob "Joe" Mamo is without a doubt a billionaire and one of Ethiopia's riches individuals. Samuel Tafesse is one of the most famous businessmen in Ethiopia. Al Amoudi would begin his journey to astronomical wealth by venturing in the fields of construction and real estate. Michael Prince for Forbes. Tashitaa Tufaa grew up on his family's farm in the Oromia region with his 13 brothers and sisters, working there till he came of age. began its explosive rise as one of Ethiopia's largest business enterprises. He serves as chairman of SouthWest Development, a leading player in Ethiopias oil and gas sector and the provider of various services to oil and gas companies. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. Egypt - $394.28 billion. Analysts expect the companys shares to recover in the medium to long term, as the leading financial services group prepares to launch operations in Ghana, Ethiopia, and the Democratic Republic of the Congo through partnerships led by its mobile phone banking service, M-Shwari. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. Kenya - $269.29 billion. He's worth $4.5 billion and is the 638th richest person in the world. Mohammed Hussein Ali Al Amoudi is an Ethiopian-Saudi billionaire businessman, who owns and controls many big industrial assets in Sweden, Saudi Arabia, and Ethiopia.He was born in Ethiopia, in 1946, to a Saudi father and an Ethiopian mother. As a local partner in Ethiopia for Japan Tobacco International, they would go on to close a deal for 1,400,000,000 USD for the 40% acquisition of Ethiopia's National Tobacco Enterprise. The . Expanding further by looking to the booming construction industry in Ethiopia, Belayneh acquired 10 dump trucks, 4 bulldozers, 3 excavators, 2 graders, 3 mixers and a crusher which he rents out. 3. 9. BBC Africa. This was the beginning of his journey to financial success. The six-percent stake would make him the latest in a slew of new minority partners that the U.S. soccer franchise has added in recent years. Algeria . Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country. However, she returned to manage her business after the group incurred losses up to 1 million within a short period. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. In recent times, Al-Amoudi has tightened his grip on his hotel business following the appointment of one of his sons-in-law to the board of Midroc Gold, whose portfolio includes the Sheraton hotels in Djibouti and Addis Ababa. Today, Suhura runs her khat empire from Jijiga with thousands of employees, a multitude of transport trucks, and even an airline of her own (Suhura Airways). Ethiopiahasonly a few billionaires, more multimillionaires, and 3,200 ultra-high-net-worth individuals. The following are Ethiopia's top 20 companies and tax payers for the budget year ending in July 2020: (the amounts are approximate). Khan controls more than 50 percent of khat sales in Ethiopia, making it a world market leader. To add to this immense business portfolio, the Ture family also has a cement factory, a packaging and printing factory, and an aggregate production facility. Tekleberhan Ambaye is an industry leader and one of Ethiopias richest men. Having been enthralled with the little he had seen in the construction business, Samuel would borrow 10,000 ETB or 370 UDS to get a construction license in 1986. 91. Mark Zuckerberg's net worth topped $100 billion for the first time on August 7, 2020. Belayneh Kindie. Jamel Toppin . Seeing as Co-op Bank is the third-largest bank in Kenya, with 65 percent ownership by local co-operatives, and the largest co-operative bank in Africa, this injection of funds is sure to have a substantial impact. He has been chairman of Ethiopian Airlines. By comparison, Elon Musk, at over $304 billion, still has a little ways to go just yet. Moreover, she was also elected as Miss ECOWAS in 2013, winning a cash prize of $6,000 US dollars. Musk, who is also CEO and chief engineer of SpaceX, plans to send the largest rocket ever built into orbit in 2022. He would leave the farm and become a school teacher and a political activist. Africa covers a land mass of over 3 million square kilometres (11.7 square miles), which includes independent island states.. Africa is separated from Europe by the Mediterranean Sea and joined with Asia by the Isthmus of Suez. richest nigerian in houston. Amidst a legal dispute with fellow shareholders in Pevans East Africa, Ndungu and another shareholder, Asenath Wachera Maina, were removed from their positions in Pevans East Africa following a special resolution. The enterprising Samuel would land a job as a construction worker upon completing high school and go on to study engineering at Addis Ababa University. In Ethiopia, Eskinder hasconsultedand managed various huge road and bridge projects that are a source of pride for Ethiopians. Ethio Telecom 21.6 billion Ethiopian Birr (585 million USD) Ethio Telecom, formerly known as the Ethiopian Telecommunications Corporation (ETC), is an Ethiopian telecom company serving as the foremost internet . Fluent in Arabic, Swahili, English, and Amharic the multilingual Ermias would drop out from Haile Selassie I University after only a year and move to the United States, where he would study and become an economist. Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. What is Mohammed Al Amoudis net worth? He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. He was also heavily involved in the US War on Terror, helping to eliminate military organisations such as Al Qaeda. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. Akiko Seyoum Ambaye, the daughter of the late and well-known contractor Seyoum Ambaye, is the major shareholder of Orchid Business Group which was established in 2001. 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In response, Ndungu expressed his disappointment, stating that the meeting where he and Asenath Wachera Maina were expelled was not conducted in accordance with the Companies Act. Rich List 2022 is our definitive guide to the wealth of the UK's richest people. They're worth a collective $12.7 trillion $400 billion less than in 2021, it says. Eskinder has also been awarded by the Ethiopian Roads Authority (ERA) and Addis Ababa City Roads Authority (AACRA) for being one of the best engineers benefiting Ethiopia. He has enough influence inside the party because he is a veteran there. 3. Taking advantage of this huge business opportunity, Suhura was able to quickly expand her business in an explosive manner. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia, and Ethiopia. However, the companys payouts decreased in the following years, with Ksh290.3 million ($2.5 million), Ksh876.5 million ($7.51 million), and Ksh559.9 million ($4.8 million) paid out in 2017, 2018, and 2019, respectively. Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. A true business man at heart that rose from humble beginnings to become one of the richest Ethiopians, Ketema Kebede is a true inspiration for all hoping to achieve substantial success. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. ALIKO DANGOTE - NW: $21.6 BILLION. Unfortunately, his family's finances would force him to drop out after three years of higher learning, just short of receiving his degree. Samuel Tafesse embodies the rags to riches story, as he has grown his company to be one of the largest construction companies in Ethiopia. What is the richest country in Africa? In 2020, private wealth in Ethiopia was estimated at $57 billion, $1-billion higher than the figure for Ghana and $33-billion lower than Kenyas $90 billion. Eyob Joe Mamo - $2.5 Billion. Furthermore, Akikos OBG also engages in construction machinery rental, spas, gyms, and logistical work. A significant percentage of the countrys richest individuals are politicians. Below is a list of the top 20 richest Ethiopians in 2022. Estimated net worth: $4 billion. Nigeria has the highest GDP, but Seychelles has the highest GNI per person. Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. Through the crafty use of his family's trading background, Ketema began to retail acrylic yarn and other similar items that were in high demand throughout Ethiopia. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Belayneh Kindie: Belayneh Kindie started his business, Belayneh Kindie Import and Export (BKIE), in 2005 with a startup capital of just 111,000 USD or 3,000,000 ETB. Algeria - $532.57 billion. in 1976, as a mere youth. Jeff Bezos. Meles Zenawi - $3 Billion. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. Gerelta Business Plc. financial services group prepares to launch. From the beautifully designed Bole Road-Wello Sefer overpass to various other projects all over Ethiopia, he and his company have received a multitude of accolades. $127 Billion. Seyoum Mesfin - $1.8 Billion. Sebhat Nega - $2 Billion. Aside from his leadership role in Ethiopias first and only indigenous oil and gas company, SouthWest Energy, the leading business tycoon played a vital role in transforming the Ethiopian energy sector. $180 Billion. Source: Oil & Gas, Real Estate and Technology. Through the crafty use of his familys trading background, Ketema began to retail acrylic yarn and other similar items that were in high demand throughout Ethiopia. Beginning his career with Merril Lynch & Co. in New York, Tewodros would go on to be a consultant for large multinational corporations looking to invest primarily in South America and the Commonwealth of Independent States. | Website by ethioSEO | Terms of Use | Privacy Policy | Disclosure | Cookies Policy. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. Always looking to grow, Belayneh would spend a further 600,000,000 ETB or 23,000,000 USD to acquire a 40,000 sqm plot of land in Bahir Dar to build a 5 star resort and hotel. Who are the richest celebrities in Ethiopia in 2023? Furthermore, continually looking to grow, Ketema would also begin to manufacture acrylic yarn and blankets, engage in real estate development, and operate a transit and forwarding company. Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. 10. Who is the first billionaire in Ethiopia? Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). The enterprising Eyob buys his gas from refiners and then sells it to the operators of the stations he owns. He serves as chairman of SouthWest Development, a leading player in Ethiopias oil and gas sector and the provider of various services to oil and gas companies. However, the recent bump in his wealth comes after his net worth slumped by $1.25 billion in 2022, from $6.71 billion to $5.46 billion. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. As a result, Ndungu and Maina, who had a combined 38-percent stake in the now-defunct holding company, will not receive any compensation for their investments. top 100 richest person in ethiopia 2021. by . Its highest dividend payout was in 2016, with Ksh4.3 billion ($36.9 million) distributed to shareholders. Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. If you have Telegram, you can view and join ETHIOPIAN REPORTER JOB VACANCY IN ETHIOPIA right away. Belayneh Kindie has amassed a fortune through his Belayneh Kindie (BK) Business Group, an Ethiopia-based group initially focused on exporting oil seeds, nuts, and other products. He was also the chairman of the Tigrayan Peoples Liberation Front (TPLF) and the head of the Ethiopian Peoples Revolutionary Democratic Front (EPRDF) during the eighties. Source:Conglomerate Investment through EAH. In 2011, her group recorded sales between 30 and 40 tonnes of khat per day. Suhura Ismail Khan was born in the 1960's in the Somali region city of Jijiga in the eastern part of Ethiopia. He was previously a member of the politburo of TPLF and was close to the dictator. iwi masada aftermarket parts. By 1988, Al Amoudi's company MIDROC or Mohammed International Development Research and Organization Companies would land a 30,000,000,000 USD or 810,000,000,000 ETB contract to build an underground oil storage complex for Saudi Arabia. Africa is the second largest continent in the world in terms of land area and population. in 1976, as a mere youth. Heading into 2022, the 10 wealthiest individuals in the world are all worth . Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. Companies run by Buzayehu include: Bizenu Investments Plc., East African Agri-Business Plc., Cosmar East Africa Business Plc., East African Group (Eth) Plc., East African Tiger Brands Plc., Ethio-Asia Industries Plc., National Cement S.C., East African Coal Mining Corporation Plc., East African Real Estate Development Plc., National Transport Plc., National Premix Construction Plc., Hamaressa Edible Oil S.C., and Distribution Outlets (over 21 located throughout Ethiopia). Following a brain tumor operation in Brussels, Zenawi died from contracting an infection in August 2012. Bill Gates. Today, the group maintains active operations in trade, transportation, construction material rentals, hotels, domestic business investments, and product and service sales in Ethiopia and abroad. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Furthermore, Zenawi received praise for his work towards a stable relationship with the African Union, playing an important role in improving the continents position on climate change. June 6, 2022 . From there, he would buy oil refineries in Morocco and Sweden, engage in oil exploration off West Africa, open one of Africa's best hotels (Sheraton Addis), finance a factory to build Saudi's first car, begin gold mining, steel production, tire production and enter the oil market in Ethiopia. Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. Top 20 Richest People In Pakistan and Their Net Worth 2022. What is the net worth of Ethiopia? who is therichestperson in Ethiopia 2022. Who is the youngest millionaire in Ethiopia? His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization ISO. He was named as Ethiopia's richest man, the 2nd richest black person in the world, and the 2nd richest Saudi Arabian, all this proves that Mohammed Al Amoudi has earned the title of tycoon. Ethiopian entrepreneur and leading businesswoman Suhura Ismail Khan is the head of a trading empire from Jijiga, with several thousand employees, dozens of trucks and her airline, Suhura Airways, a Somalian charter carrier established in 2009. Today, this company owns over a hundred. Ethiopia - $298.57 billion. Eskinder Zewdie is a German educated engineer that has brought his exceptional civil engineering abilities to his homeland. She is the Widow of the late Prime Minister Meles Zenawi, she has ownership interests in many of the biggest companies in Ethiopia. was soon created in 2008, to strengthen and expand Belayneh's import and export businesses. Azeb Mesfin. Aliko Dangote: The first on the list is Aliko Dangote. He was previously in the position of foreign affairs minister where he had a lot of power over trade. Samuel Tafesse - $1.6 Billion. . After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. 2. Ethiopia's First and Largest Blog Network. By 1998, Omer's Nejat International had sales valuing at 198,000,000 ETB or 7,400,000 USD and owned the largest warehouse in Ethiopia with all the latest machineries.
