The Ethio-Saudi tycoon presides over an ever-expanding business empire. Originally from Ethiopia, Al Amoudi was raised in Saudi Arabia, and made his fortune in construction and real estate before branching out to buy oil refineries in Sweden and Morocco. In 2007, Arabian Business ranked Mohammed Al Amoudi as the 6th richest Arab in the world, with a net worth of US$9.2bn.
He is said to be the largest foreign investor in both Sweden and his native Ethiopia, where some of his ventures include the previously state-owned goldmine, Lege Dembi, and hotels such as the Addis Ababa Sheraton Hotel. Al Amoudi holds an honorary doctorate in Philosophy from Addis Ababa University.
Today Al Amoudi owns a broad portfolio of businesses not only in oil but also in mining, agriculture, hotels, hospitals, finance, operations and maintenance. His holding and operating companies, Corral Group and the Midroc Group, employ more than 40,000 people. Corral Group has an investment portfolio in Europe and the Middle East that includes Preem Petroleum, the largest integrated petroleum company in Sweden, Svenska Petroleum & Exploration [SPE], SAMIR [a petrochemical and refinery company in Morocco], Naft Services Co [Saudi Arabia] and Fortuna Holdings Co [Lebanon].
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