Ethiopian born Saudi businessman, Mohammed Al Amoudi, is once again among the richest people in the world ranking 116th out of the world’s 1,826 billionaires, according to Forbes’ The World’s Billionaires 2015 list. Al Amoudi’s fortune dropped from $15.3 Billion in 2014 to $10.9 Billion in the latest ranking. He is the second richest black person in the world just behind Nigeria’s cement tycoon Aliko Dangote, who is ranked at #67 with a net worth of $15.7 Billion.
Of the 1,826 people who made it to the 2015 Forbes’ list of the World’s Billionaires, 11 of them are black, up from 9 a year ago. American basketball legend Michael Jordan is one of the new entrants to the Forbes’ list.
Son of a Saudi father and Ethiopian mother, Mohammed Al Amoudi has accumulated a portfolio of construction, agricultural, and energy companies across Saudi Arabia and Ethiopia since the 1970s. He made his initial fortune in construction in Saudi Arabia, and continues to build complexes from hospital centers to university buildings. In Ethiopia he has invested in sectors including agriculture, cement production and gold mining. His Saudi Star has cultivated thousands of acres of land for fruits, vegetables, cereals, coffee, tea, flowers and most recently rice fields for customers in Ethiopia and abroad – he exports coffee beans to Starbucks and tea leaves to Lipton. In 2015 he will open the African Union Grand Hotel in Addis Ababa. Forbes estimated a lower net worth for Al Amoudi in 2015 compared to a year ago primarily due to the drop in oil prices. He owns oil company Svenska and refinery Preem. An active philanthropist, Al Amoudi works with the Clinton Global Initiative on fighting AIDS in Africa.