top 100 richest person in ethiopia 2021 top 100 richest person in ethiopia 2021

6. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. Mohammed Al Amoudi - $8.3 Billion. $92.413 billion (nominal, 2021 est.) This billion-dollar deal is Ethiopias largest-ever privatization agreement. All Rights Reserved. The Weeknd - $200 Million. This includes the landmark Marriott Executive Apartments in Addis Ababa. Brian Shuel // Getty Images. was soon created in 2008, to strengthen and expand Belayneh's import and export businesses. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Co-operative Bank Group (Co-op Bank), a Nairobi-based financial services group led by Kenyan banking magnate Gideon Muriuki, has successfully secured a total of $100 million in long-term debt from global institutional investors, with the German fund DEG and the Norwegian fund Norfund at the helm. He's worth $4.5 billion and is the 638th richest person in the world. The world's 10 richest people added $402 billion to their fortunes in 2021. In 2021, the respective headliners were Kendrick Lamar, Tyler, the . Here's whose net worth grew the most. His primary businesses include cement, sugar and flour. The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. Age: 55 years (as of 2023) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate. Meles Zenawi - $3 Billion. Throughout the years, the company has delivered over 2,800 housing units with more on the way. Samuel Tafesse - $1.6 Billion. Ethiopian Rich List: Wealthiest Persons In Ethiopia: Mohammed Al Amoudi - $8.45 Billion. 1. 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. Net Worth: $6.6 billion. What is the net worth of Ethiopia? Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. 2. In Illinois, the richest person remains Ken Griffin, the founder of Chicago hedge fund Citadel. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. 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. Here is a list of the billionaires and millionaires in Ethiopia in 2023. what is the recommended ratio for lifeguard to swimmer Ermias would create, develop and fund huge and lucrative businesses such as Royal Crown Mineral Water Factory (Highland water), Access Capital, Access Bank, Access Real Estate, Zemen Bank, and Jano Music Band among others. 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. 2 weeks ago. Some of them include Columbia University's Africa Center Advisory Board, Atlantic Council International, New York's East West Institute, Initiative for Global Development, and was the winner of Young Global Leader (World Economic Institute). Angola - $217.97 billion. He has enough influence inside the party because he is a veteran there. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people. 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. Date of birth: 24th February 1967. 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. Al Amoudi would begin his journey to astronomical wealth by venturing in the fields of construction and real estate. Ethiopia-born billionaire Mohammed Al-Amoudi is Ethiopias richest man with a $6.96-billion net worth. Buzayehu T. Bizenu is the founder of East African Holding Share Company (EAH S.C.), a huge conglomerate of companies operating in almost all the large business sectors of Ethiopia. The company has been operating in Ethiopia for over 60 years now and is respected throughout for their competence. . Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. He is the richest drug lord in Africa with a long criminal history of selling illegal drugs. Seyoum Mesfin - $1.8 Billion. Who is the second richest person in Ethiopia. The 10 Richest Individuals in Ethiopia ===== Even though Ethiopia is classified as one of the developing countries in the world. Up next with a net worth of $680 million is Kwabena Duffuor. 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. Beginning with only the import of items to satisfy the local demand, Omer would in 1995 expand to engage deeply within the coffee business. 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. 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. Source: Oil & Gas, Real Estate and Technology. Ethiopia's First and Largest Blog Network. He was 57. Ermias Amelga was born in Addis Ababa but would move to Egypt and later to Kenya but would return to Addis Ababa to study secondary school and university. One of the factors contributing to . Having ten children, Suhura planned to retire from her business and go on an extended pilgrimage in 2010, but her 4 eldest sons managed to incur losses of up to 1,000,000 Euros in a short period of time. Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. What is Mohammed Al Amoudis net worth? After completing his education, Duffuor made the highly lucrative move into banking. The bank first operated in Uganda as the National Bank of India in 1906. As a local partner in Ethiopia for Japan Tobacco International, he closed a $1.4-billion deal to acquire a 40-percent interest in Ethiopias National Tobacco Enterprise. Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. Richest African Countries by GDP. Mohammed Al Amoudi, son of a Saudi father and an Ethiopian mother is Ethiopia's richest man businessman. China. : 1, 3 In their 2017 list that ranked Canada's top 100 richest people, Toronto-based Rob McEwen of McEwen Mining, . He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. February 6, 2023. Eskinder Zewdie is a German educated engineer that has brought his exceptional civil engineering abilities to his homeland. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. 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. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. 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. ALIKO DANGOTE - NW: $21.6 BILLION. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. 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. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. Even though Ethiopia is classified as one of the developing countries in the world there are still rich people who are are living and enjoying life like the . South Africa - $861.93 billion. 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. 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. 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. Beginning with small contracts, such as roof maintenance for Wabe Shebelle Hotel and slowly expanding, Samuel's hard work and integrity would cause his little company to blow up into the giant it is now: Sunshine Construction Group. 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. Ethiopia - $298.57 billion. 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. 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. Pevans East Africa, the holding company for SportPesa, began distributing dividends to its shareholders in 2015, with a total payout of Ksh1.57 billion ($23.46 million). In addition to this, Tewodros would become the Chairman and CEO of SouthWest Energy, the first and only local oil and gas organization. iwi masada aftermarket parts. Since then, it has grown from a single bus in 2004 to a multimillion-dollar valuation as of press time. Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. She controls over 50% of the khat market in Ethiopia and is also a leader in global sales of the product. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. 11 . Bethlehem Tilahun Alemu is an Ethiopian businesswoman and founder and executive director of soleRebels, an international footwear company based in Addis Ababa. 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. In 2011, her group recorded sales between 30 and 40 tonnes of khat per day. Its estimated population is 99,202 people, its 2021 GDP was USD 1.45 billion, and its GNI per capita was 29,800. A significant percentage of the countrys richest individuals are politicians. 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. Moreover, she was also elected as Miss ECOWAS in 2013, winning a cash prize of $6,000 US dollars. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia. 4. 1. In 2010, she retired from the group, leaving her empire to be managed by her sons. Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. Kwabena Duffuor Net Worth - $680 Million. Nigeria - $1.14 trillion. 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. With such a massive penetration of Ethiopia's largest industries, Buzayehu Bizenu is nothing short of an Ethiopian billionaire, mogul and one of Ethiopia's richest. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Tekleberhan Ambaye is an industry leader and one of Ethiopia's richest men. 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. The IIFL Wealth Hurun India Rich List has revealed the top 100 wealthiest people in the country. He would leave the farm and become a school teacher and a political activist. Wealth Milestones. 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. 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. Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. Berhane Gebrekristos - $2 Billion. Fv 27, 2023 . 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. Nigeria has the highest GDP, but Seychelles has the highest GNI per person. who is therichestperson in Ethiopia 2022. Who is the youngest millionaire in Ethiopia? 8. Bethlehem Tilahun Alemu is an Ethiopian businesswoman and founder and executive director of soleRebels, an international footwear company based in Addis Ababa. 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. 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 following are Ethiopia's top 20 companies and tax payers for the budget year ending in July 2020: (the amounts are approximate). Source:Conglomerate Investment through EAH. He had a net worth of $3 billion, according to Celebrity Net Worth. Nigeria - $514.05 billion. Recently, Akiko, along with the Italian Enel Green Power, were to sign a 3,240,000,000 ETB or 120,000,000 USD to develop, operate and build a solar power generation plant in Metehara. Tekleberhan Ambaye is an industry leader and one of Ethiopias richest men. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. Kanye began his career in the music industry as a producer and he even used to write songs for a few famous and popular . 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). Most of the coffee produced here is exported and that made this agricultural company famous. His father, who owned Mamo Kacha a bus transport company in Addis Ababa, sent Eyob to a Dakota boarding school to protect him from the ruling military Derg government. 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. 3. 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. 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 . Primarily engaged in the export of oil seeds and other similar products, BKIE rose to become the Ethiopia's largest exporters of sesame seeds by 2010. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in Ethiopia. Patrick T. Fallon/Bloomberg. As of March 2, 2023, 6:02 PM EST The Bloomberg Billionaires Index is a . In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. He was one of the closest to the dictator Meles and his wife Azeb Mesfin. 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. Liya Kebede . When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. Tewodros Ashenafi Tewodros Ashenafi is a famous Entrepreneur, born on August 26, 1969, in Ethiopia. Aside from his ownership stake in the group, Bizenu control companies such as 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, and a host of other companies. Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. Advertisement. Read profiles and interviews, and see all the facts and figures for 2022 Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. Mamo is the CEO of the D.C.-based group. Not only one of Ethiopia's richest and a billionaire, but Samuel is also a role model representing what hard work and honesty can bring into one's life. 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. In the biggest companies and industries, she is a stakeholder and thus she has an estimated worth of $4 billion combining the worth of the dictator and all that she got out of the interests of the companies. 1. 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. 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. Thomas Pritzker: He is the heir to and executive chairman of the Hyatt hotel chain. All this and more, has made Omer Ali Shifaw one of Ethiopia's richest men and a self-made one at that. 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 . He has also launched other businesses and philanthropic entities under Sunshine Investment Group. 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. Ermias would create, develop and fund huge and lucrative businesses such as Royal Crown Mineral Water Factory (Highland water), Access Capital, Access Bank, Access Real Estate, Zemen Bank, and Jano Music Band among others. Estimated net worth: $4 billion. Nega was one of the most powerful men in Ethiopia. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. Its highest dividend payout was in 2016, with Ksh4.3 billion ($36.9 million) distributed to shareholders. He lives in Glencoe. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. Mamo is the CEO of the D.C.-based group. He has also launched other businesses and philanthropic entities under Sunshine Investment Group. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia.