Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. $113 . 1960: Pete Seeger at Bowdoin College in Brunswick, Maine . For some context, . Tewodros Ashenafi is an Ethiopian entrepreneur and the CEO of SouthWest Energy, an Ethiopian oil and gas exploration and production company based in Addis-Ababa, the capital city of Ethiopia. This includes the landmark Marriott Executive Apartments in Addis Ababa. He was close to Meles but was later kicked out of both organisations. By 2015, Belayneh would go on to invest in Ethiopia's agricultural sector with the initial payment of 25,000,000 ETB or 1,000,000 USD for 250 hectares of land for the cultivation of sesame, coffee, etc. While people on more modest incomes have also seen their assets rise in value during the pandemic, Oxfam said the 10 richest men own six times as much wealth as the bottom 40% (3.1 billion people). Select Page. 7. 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. After 22 years away from his homeland, Ermias would return with his experience in Wall Street's stock exchange and start innovative businesses in Ethiopia. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. right away. After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. now scroll down to watch cat videos, Thank me later! 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. 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. Mohammed AL Amoudi is one of the richest people in Ethiopia, as a matter of fact, Mohammed AL Amoudi was named the richest and the most extremely wealthy person in Ethiopia. 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 . Source:Conglomerate Investment through EAH. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. $127 Billion. Being the eldest sibling, Samuel took a job as a parking attendant at the Addis Ababa Stadium, where he would use the opportunity to sell soft drinks, chewing gum, and cigarettes. Source: Oil & Gas, Real Estate and Technology. Both men have watched their wealth increase by NOK 6.5 billion kroner since last year. 4. $180 Billion. She is the Widow of the late Prime Minister Meles Zenawi, she has ownership interests in many of the biggest companies in Ethiopia. As a major shareholder of Tsehay Industry and Tsehay Insurance Share Company, Belayneh would have vast control in Ethiopia's manufacture of LTZ, sheet metal, etc. However, his leadership came under serious attack, as he was accused of abusing a string of human rights issues and repressing the freedom of the press/speech. Free shipping for many products! He has also invested in various sectors of business that have made the work simpler for him to gain profits. Eskinders obsession with quality has changed the way several construction companies operate in Ethiopia. Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia's energy sector. Abay Tsehaye - $1.5 Billion. He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. Seeing this unfortunate management crisis, Suhura returned to the helm of the business. Omer Ali Shifaw began in the spice business but would leave that to open his own company with a paid up capital of 5,000 ETB or 185 USD. Nigeria is the richest and most populous country in Africa. Richest African Countries by GDP. 2. : 1, 3 In their 2017 list that ranked Canada's top 100 richest people, Toronto-based Rob McEwen of McEwen Mining, . Nigeria - $514.05 billion. 1. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort. 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. In Illinois, the richest person remains Ken Griffin, the founder of Chicago hedge fund Citadel. richest nigerian in houston. This includes the landmark Marriott Executive Apartments in Addis Ababa. In 2010, she retired from the group, leaving her empire to be managed by her sons. Samuel Tafesse is one of the most famous businessmen in Ethiopia. Read profiles and interviews, and see all the facts and figures for 2022 Even though Ethiopia is classified as one of the developing countries in the world there are still rich people who are living and enjoying life as the Westerners do. Mohammed Hussein Al Amoudi Biography. His net worth at present is $500 million. Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. Eyob Joe Mamo - $2.5 Billion. Nigeria - $1.14 trillion. By 2011, Eyob's company was valued at about 788,000,000 USD or 21,000,000,000 ETB. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. Gerelta Business Plc. Eyob Joe Mamo is an Ethiopian oil tycoon known for running and controlling half of the gas stations in Washington, D.C., through Capitol Petroleum Group, a leading wholesale distributor of petroleum services in the Metro D.C. area and New York City. The total valuation of Australia's 100 richest people aged 40 and under is diminished, but you still need $35 million to get on the list . Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. Here is a list of the billionaires and millionaires in Ethiopia in 2023. 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. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. August 24, 2021. Samuel Tafesse is one of the most famous businessmen in Ethiopia. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. Upon his release, finding his children all grown was difficult yet through hard work he would open up a company named after him (Omer Ali), but would in 1990 change the name to that of his daughters: Nejat International. 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. He was raised born in north central Ethiopia, in the city of Dessie in the Wollo region, but grew up in Woldia. Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. He is a really trusted apprentice to the dictator and even now he is a partner of Azeb Mesfin in various businesses. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. 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. Mohammed Al Amoudi, son of a Saudi father and an Ethiopian mother is Ethiopia's richest man businessman. Tekleberhan has also opened up Edna Mall, housing a modern movie theater, and one of only two countries in Africa that receive Hollywood movies directly upon their release. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. 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. After completing his education, Duffuor made the highly lucrative move into banking. It is also one of the world's fastest-growing economies. Buzayehu's East African Holdings is made up of several sister or subsidiary companies involved in manufacturing fast moving consumer goods, printing and packaging, agriculture (commercial farming), transport, agro processing, cement production, real estate, coal mining, coffee export, and coffee roasting and packing. Nigeria has the highest GDP, but Seychelles has the highest GNI per person. 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. Ethiopia is home to over 122 million people, per Worldometer. Eyob Mamo left for the United States in 1981 as a young boy. 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 its founding in 2005, the company has grown into one of the countrys largest exporters of sesame seeds and a leading Ethiopian agricultural commodities trader. Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. Who is a successful entrepreneur in Ethiopia? Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. 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. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. This was the beginning of his journey to financial success. Celebrity Net Worth estimates Al-Amoudis net worth to be around $8.3 billion whereas Bloomberg places his net worth at $5.46 billion. Her bouncy curls and sharp facial features make her one of the most prominent entries on this list . 1. 15. His company Dangote Group is currently on an expansion drive to many other African countries. Orchid Business Group holds government contracts for a variety of highly lucrative endeavors, such as, being involved in the construction of the GERD or Grand Ethiopian Renaissance Dam, the Awash/Kombolcha/Woldiya Railway construction, as well as, many other foundation works and roads. Tewodros Ashenafi is an Ethiopian entrepreneur and the CEO of SouthWest Energy, an Ethiopian oil and gas exploration and production company based in Addis-Ababa, the capital city of Ethiopia. Its highest dividend payout was in 2016, with Ksh4.3 billion ($36.9 million) distributed to shareholders. Ermias Amelga was born in Addis Ababa but would move to Egypt and later to Kenya but would be returned to Addis Ababa to study secondary school and university. began its explosive rise as one of Ethiopia's largest business enterprises. He would start the ardous climb to success by working various jobs, sometimes three at a time. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. 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. Tekleberhan Ambaye is an industry leader and one of Ethiopia's richest men. The California based technology entrepreneur is the Board member and co-founder of . financial services group prepares to launch. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. If we simply consider a nation's gross domestic productthe sum of all goods and services produced by a country during one yearthen we would have to conclude that the richest nations are exactly the ones with the largest GDP: United States, China, Japan, Germany. 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. Today, Eyob also called Joe owns and runs the privately owned Capitol Petroleum Group which controls over 41 percent of gas stations in Washington D.C. Africa's billionaires saw their wealth increase significantly in 2021, similar to the previous year, despite the long-term effects of the Covid-19 pandemic on business activities and the operations of companies and financial assets controlled by these ultra-wealthy individuals during the year. Meles Zenawi - $3 Billion. 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 . Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. Shimao. His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . 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). He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. Top 10 Richest People in the World. Andrew Ndegwa, a Kenyan businessman and executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. 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. 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However, she returned to manage her business after the group incurred losses of up to 1 million within a short period. This year, War, pandemic and sluggish markets hit the world's billionaires whose number drop by 87 to 2,668 on Forbes' annual ranking of the planet's richest people. The recent move of Co-operative Bank Group to secure a total of $100 million in long-term debt from global institutional investors comes three months after the Kenyan financial services group reported a staggering profit of Ksh17 billion ($140 billion) at the end of the first nine months of its 2022 fiscal year. Who is the richest person in Uganda 2021? Brian Shuel // Getty Images. This billion-dollar deal is Ethiopias largest-ever privatization agreement. In Ethiopia, Eskinder hasconsultedand managed various huge road and bridge projects that are a source of pride for Ethiopians. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials and maximum comfort. $288.56 billion (PPP, 2021 est.) Ketema Kebede created the self-named KK Plc. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. She has her own business and owns shares in various companies around Ethiopia. The enterprise was established as an operating holding for subsidiary companies acting in various sectors, such as FMCG manufacturing, agriculture, agro-processing, printing and packaging, transport, real estate, cement production and coal mining. He is presently the Ethiopian ambassador to China. As of December 2023, Tewodros Ashenafis net worth is $5 Million, per All Famous Birthday. Bernard Arnault, the chairperson and chief executive of the French luxury conglomerate LVMH Mot Hennessy Louis Vuitton, is now the world's richest person.Bernard Arnault pipped Jeff Bezos after the Amazon founder's net worth fell $13.9 billion in a day. There were a record 2,755 billionaires in Forbes' 2021 list of the world's wealthiest people660 more than a year ago. Khan controls more than 50 percent of khat sales in Ethiopia, making it a world market leader. As one of the fastest growing economies in the world, Ethiopia is on its way to becoming an important hub for global commerce. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. in 1976, as a mere youth. This is a 120 kilometre (75 mile) strip of land which lies between the . what is the recommended ratio for lifeguard to swimmer She has been named Ethiopian Entrepreneur of the Year several times and her accolades in her industry prove that Suhura Khan is one of Ethiopia's richest people. BBC Africa. Paul Ndungu, a prominent Kenyan businessman and shareholder in Pevans East Africa, the company behind the popular SportPesa betting brand, is auctioning off a residential property located in Nairobi. in 1976, as a mere youth. He would leave the farm and become a school teacher and a political activist. According to data tracked by Billionaires.Africa, the Kenyan businessmans stake in NCBA has lost Ksh219.82 million ($2.39 million) in market value since the beginning of the year, owing to renewed selling pressure on the local bourse. List of wealthiest Canadians (Forbes, 2021) World rank Name Net worth (USD) Source of wealth 33: David Thomson & family: US$41.8 billion: Media 189: Joseph Tsai: . As per the index, President Dangote Group, Aliko Dangote, has retained his position as the continent's wealthiest man for the eleventh year in a row with a net worth of $20.5 billion, up from $20.3 billion last month. Algeria - $532.57 billion. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Akikos deal with the EEP or Ethiopian Electric Power would make her the first Ethiopian to build a privately owned and operated a solar plant in the country. Eyob Joe Mamo is an Ethiopian oil tycoon known for running and controlling half of the gas stations in Washington, D.C., through Capitol Petroleum Group, a leading wholesale distributor of petroleum services in the Metro D.C. area and New York City. For most, the journey to becoming one of the richest Ethiopians was not an easy one, but through an undying obsession to become successful, these people have reached their goals. One of the factors contributing to . was soon created in 2008, to strengthen and expand Belayneh's import and export businesses. Tewodros also sits on a multitude of boards, think tanks, as well as, being a winner of international awards. Mohammed Al Amoudi, the son of a Saudi father and an Ethiopian mother is Ethiopias richest businessman. As a khat street vendor, her profits were very small until she began to explore the business opportunities in the neighboring country of Somaliland. China. Search by Location. Wealth Milestones. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. After the death of her husband - Julia Flesher Koch inherited about a 42% stake in his company . With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion. 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. From a dishwasher to security guard to a factory worker, Tashitaa would work and work and eventually begin his own transportation company in 2003, using his wife's van. 3. By 2006, Belayneh entered the transport business by establishing the BKPT or Belayneh Kindie Private Transport, with six 40 ton carrying trucks. Mohammed Al Amoudi born in 1946 to an Ethiopian mother of Wollo Amhara descent and a Hadhrami Yemeni father is an Ethiopian and Saudi Arabian citizen. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. 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. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. Algeria . For the 11th year in a row, Alike Dangote of Nigeria is the continent's richest person, worth an estimated $13.9 billion, up from $12.1 billion last year following a 30% increase in the stock . Forbes places Mohammed Al Amoudis fortune at $8.1 billion as of 2017. Angola - $217.97 billion. 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. icle family law institute 2021; . Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. 2. He has made a lot of profit in this business in the past few years and his estimated worth at present is $1.8 billion. 5. Catch New Video Here: https://bit.ly/2ZxWEKL The . Below is a list of the top 20 richest Ethiopians in 2022. Source: Conglomerate Investment through EAH. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. All Rights Reserved. . Belayneh Kindie began his journey to wealth by starting his company Belayneh Kindie Import and Export (BKIE), in 2005 with the startup capital of only 111,000 USD or 3,000,000 ETB. Now, let's take a look at the top 10 in more detail. Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. The company today employs over 2,500 people with a dozen projects with contract values in the range of 5,000,000,000 ETB or 186,000,000 USD. Berhane Gebrekristos - $2 Billion. 3. Following the opening of its 22nd location in Hamburgs trendy St. Pauli District, the group is on course to control 500 global soleRebels branded retail stores and generate $1 billion in revenues by 2028. They have such an amount of money because of connections with the countrys politics and a stable business that takes the supplies from the country and sends them to other places. For various reasons, such as political, economic, etc., Ethiopians are spread out as Diaspora all over the globe. In 2016, his net worth was estimated by Forbes at approximately $10.9 billion and a relative fall in net value was linked to the global fall in oil and gold prices at the time of estimation.He was also listed as Ethiopia's richest man, the second richest . As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. In 2020, private wealth in Ethiopia was estimated at $57 billion, $1-billion higher than the figure for Ghana and $33-billion lower than Kenya's $90 billion. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. This billion dollar deal is Ethiopia's largest ever privatization agreement. Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. 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. Patrice Motsepes TymeBank partners with The Foschini Group, eyes 26 million South African customers, Runa Alams DPI closes African Development Partners III Fund at $900 million, exceeding $800-million benchmark, Adidas faces $10-million loss as Beyonces Ivy Park fails to meet expectations. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. Tekleberhan Ambaye (Eng) began his rise to greatness in 1993, registering his self-named TACON or Tekleberhan Ambaye Construction Plc., with an initial capital of 5,000 ETB or 185 USD. According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. Young Rich List wealth takes $11b hit after tech plunge. 1. Bill Gates. Muriuki holds a two-percent stake in the leading financial services group. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. Ethiopia is home to about 105 million people. He also explained the requirements for the special resolution to pass, stating that it must receive the support of shareholders holding a minimum combined stake of 75 percent. Top 10 Universities in Africa; 20 Interesting Facts about Africa; Top 100 richest people in africa; Top 7 most developed African countries; Richest Person In Kenya And Top 10 Wealthy Kenyans; Turkey is to completely erase all Somalia's debts to the IMF; 10 trending Kaftan outfit ideas for grooms-to-be; 5 highest paid African football players .