Mohammed Al Amoudi Net Worth, Age, Family & Biography

About Mohammed Al Amoudi

Mohammed Hussein Ali Al-‘Amoudi is a Saudi billionaire businessman. Al Amoudi controls an assortment of modern resources in Sweden, Saudi Arabia and Ethiopia. Svenska Petroleum Exploration and Preem, Sweden’s largest oil refiner, are two of them. He guarantees Addis Ababa, Ethiopia-based Midroc Gold, the country’s most prominent digger, as well as motels, an oil association, and coffee and rice farms.

Mohammed Al Amoudi Career

Mohammed Hussein Ali Al-‘Amoudi was born in 1946 in Ethiopia to an Oromo Muslim mother from the Wollo area of the Amhara Region, Ethiopia, and a Yemeni father from Hadhramaut. He took Saudi citizenship when he moved to Saudi Arabia at the age of 19. He used government contracts to build a fortune in the construction and real estate industries there. Midroc, a conglomerate, was founded by him in the early 1980s. The multibillion-dollar construction of Saudi Arabia’s underground oil storage complex was awarded to Midroc’s construction division in 1988.

During the 1990s, Al Amoudi also started putting resources into Ethiopia, framing a cosy relationship with the decision party, the Ethiopian Nation’s Progressive Popularity-based Front. He is currently the nation’s single greatest financial backer, holding a 98% stake in Ethiopia’s just huge scope mother lode, as well as organisations working in horticulture, producing, land, steel and development.

He has invested in coffee-growing, rice-growing, and land projects in Ethiopia, including a 60-year concession for 10,000 hectares in the Gambella province. Oakland Institute, a human rights advocacy group based in the United States, has voiced its disapproval of the project, describing it as a “land grab” that has necessitated the relocation of local residents. The government claims that Al Amoudi’s development has nothing to do with voluntary resettlement.

Mohammed Al Amoudi Controversy

Mohammed Hussein Al Amoudi was arrested in Saudi Arabia on November 4, 2017, as part of a “corruption crackdown” led by the “royal anti-corruption” committee of Crown Prince Mohammad Bin Salman (MBS). Al-Amoudi had been taken into custody but had not been seen since. Abiy Ahmed Ali, the Prime Minister of Ethiopia, had attempted, but was unsuccessful, to secure his release. At long last, he was delivered on January 27, 2019, following 14 months of detainment.

Mohammed Al Amoudi Facts

Through Corral Petroleum, his energy-focused holding company, Al Amoudi entered the oil market in the 1990s. In 1994, he bought the Swedish energy companies Svenska Petroleum and OKP, which is now Preem Petroleum. After five years, he took command of Morocco’s two biggest petroleum treatment facilities and blended them to make Samir.