With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. Richard Schulze (conceived January 1941) is the organizer and previous executive and CEO of Best Buy. Net Worth: $6.6 billion. By 2006, Belayneh entered the transport business by establishing the BKPT or Belayneh Kindie Private Transport, with six 40 ton carrying trucks. Algeria - $532.57 billion. Ethiopia-born billionaire Mohammed Al-Amoudi is Ethiopias richest man with a $6.96-billion net worth. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. The list of Ethiopia's richest models, actors, musicians, businessmen, politicians, producers, footballers, athletes, Instagram influencers, and entrepreneurs are also the most famous and best-known Ethiopian celebrities both in Ethiopia and internationally. Seyoum Mesfin - $1.8 Billion. He is still one of the most influential people in the whole of Ethiopia today. Co-op Bank, which is one of the largest financial organizations in East Africa, is led by Muriuki, a multimillionaire banker and businessman, who holds a two-percent stake in the leading financial services group. 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. The Ture business empire is engaged in the import and distribution of hardware, machinery and construction materials, including the installation of small and large scale factories. began its explosive rise as one of Ethiopias largest business enterprises. He is presently the Ethiopian ambassador to China. 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. 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. However, less than 3,400 are ultra-high-net-worth individuals. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. Azeb Mesfin - $4 Billion. Focusing his efforts on employee improvement, good management, and tight credit controls, BKIE soon began to expand to various other sectors. Ethiopia's First and Largest Blog Network. 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. Forbes places Mohammed Al Amoudis fortune at $8.1 billion as of 2017. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. He had a net worth of $3 billion, according to Celebrity Net Worth. 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. Seyoum Mesfin - $1.8 Billion. Samuel Tafesse's company now engages in large-scale road and bridge projects, large scale real estate developments, the building of residential properties, hotel and commercial building construction. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. 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. Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia's energy sector. Michael Prince for Forbes. 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. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. He was a part of the diplomatic works that were used by the dictator for money laundering. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. 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). Fv 27, 2023 . It ranks fourth for private wealth held by individuals. . Nigeria has the highest GDP, but Seychelles has the highest GNI per person. 1. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort. Always one to keep an eye out for opportunities, Tewodros would also become chairman of Ambo Mineral Water, one of Ethiopia's largest beverage brands. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. He would leave the farm and become a school teacher and a political activist. Source:Conglomerate Investment through EAH. A significant percentage of the countrys richest individuals are politicians. Jimoh Ibrahim - $1.1 billion. He is a really trusted apprentice to the dictator and even now he is a partner of Azeb Mesfin in various businesses. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. Heading into 2022, the 10 wealthiest individuals in the world are all worth . According to the latest 2022 Africa Wealth Report, the total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years. Tekleberhan Ambaye is an industry leader and one of Ethiopia's richest men. 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. Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. Eyob Joe Mamo - $2.5 Billion. The company has more than 3,000 employees. 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. Mohammed Hussein Al Amoudi Biography. 1. Mohammed Al Amoudi, the son of a Saudi father and an Ethiopian mother is Ethiopias richest businessman. He is the leading name behind Nejat International which is involved in supplying high-grade coffee to other countries around the world. . : 1, 3 In their 2017 list that ranked Canada's top 100 richest people, Toronto-based Rob McEwen of McEwen Mining, . 1. She also has a criminal image of herself among the people of Ethiopia, with the name mother of corruption given to her by the people. 2. Eyob Joe Mamo - $2.5 Billion. It's when a person is young and chock full of new emotions that they connect the most intensely with certain songs or performers, after all. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. Eskinder's obsession with quality has changed the way several construction companies operate in Ethiopia. A true businessman 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. Bethlehem Tilahun Alemu is an Ethiopian businesswoman and founder and executive director of soleRebels, an international footwear company based in Addis Ababa. 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. Thomas Pritzker: He is the heir to and executive chairman of the Hyatt hotel chain. According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people. His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. 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. 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. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. 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. He was also the chairman of the Tigrayan Peoples Liberation Front (TPLF) and the head of the Ethiopian Peoples Revolutionary Democratic Front (EPRDF) during the eighties. 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. coffee export, and coffee roasting and packing. Ndegwa owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. It has the power to change the world.. His businesses produced 1.6% of total U.S. economic output. The top 10 richest people on the planet have a combined net worth of $1.4 trillion. Tewodros Ashenafi Tewodros Ashenafi is a famous Entrepreneur, born on August 26, 1969, in Ethiopia. Here's how American families, from the poorest to the richest, spend their money +16 16 great furniture designers of the last century inspiring today's design trends He has also invested in various sectors of business that have made the work simpler for him to gain profits. The highest and the lowest net worth. She is the widow of the late dictator Meles. 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. Meles Zenawi - $3 Billion. Sergey Brin. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. 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. This financing will aid Co-op Bank in strengthening its capital base, with Norfund participating in the financing through a direct credit line of $16 million and an additional $3.4 million through European Financing Partners. 10. Berhane Gebrekristos - $2 Billion. He was 57. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. Khat is a leafy green plant containing two main stimulants used mainly in North East Africa, the Arabian Peninsula, and expatriate communities from these regions. Sebhat Nega - $2 Billion. Belayneh Kindie has amassed a fortune through his Belayneh Kindie (BK) Business Group, an Ethiopia-based group initially focused on exporting oil seeds, nuts and other products. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia, and Ethiopia. Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country. Here is a list of the billionaires and millionaires in Ethiopia in 2023. Taking advantage of this huge business opportunity, Suhura was able to quickly expand her business in an explosive manner. 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. Africa is the second largest continent in the world in terms of land area and population. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. From Nigeria, he is the founder and . Gerelta Business Plc. on. Akiko Seyoum Ambaye, the daughter of the late and well-known contractor Seyoum Ambaye, is the major shareholder of Orchid Business Group which was established in 2001. 15. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. 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. 1. Mohammed Al Amoudi - $8.3 Billion. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. Top 10 Richest Men In Uganda 2021 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. Egypt - $394.28 billion. At the time of writing, Co-op Bank shares on the Nairobi Securities Exchange were trading at Ksh12.5 ($0.0985), 4 basis points lower than their opening price this morning, pushing the companys market capitalization further below the Ksh74-billion ($580 million) mark. 3. $127 Billion. In 2011, her group recorded sales between 30 and 40 tonnes of khat per day. He lives in Chicago. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. 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. Kwabena Duffuor Net Worth - $680 Million. 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. Shimao. Kenya - $269.29 billion. He has also launched other businesses and philanthropic entities under Sunshine Investment Group. Advertisement. Samuel Tafesse embodies the rags to riches story, as he has grown his company to be one of the largest construction companies in Ethiopia. Elon Musk. who is therichestperson in Ethiopia 2022. Who is the youngest millionaire in Ethiopia? Suhura Ismail Khan was born in the 1960's in the Somali region city of Jijiga in the eastern part of Ethiopia. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Berhane Gebrekristos present estimation of net worth is about $2 billion but his real worth previously was even more than this. Muriuki holds a two-percent stake in the leading financial services group. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. 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. 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). Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). 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. Samuel Tafesse - $1.6 Billion. 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). Throughout the years, the company has delivered over 2,800 housing units with more on the way. Eskinder Zewdie is a German-educated engineer that has brought his exceptional civil engineering abilities to his homeland. His company, the Dangote group started as a small trading firm in 1977. He has enough influence inside the party because he is a veteran there. 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. His primary businesses include cement, sugar and flour. Who is the richest company in Uganda? Samuel Tafesse was born to a low income family and was forced to work as a youth of only 14 years old to support his family. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. | Website by ethioSEO | Terms of Use | Privacy Policy | Disclosure | Cookies Policy. The . Top 10 RICHEST People in Ethiopia 2021 | Rich and Famous TV Subscribe Here: https://bit.ly/3exoQBy. Read profiles and interviews, and see all the facts and figures for 2022 He's worth $4.5 billion and is the 638th richest person in the world. Furthermore, a deal with Globelq to create a solar park with 100MW is being negotiated. We could have simply put together a list of New Jersey's wealthiest people, but NJBIZ . As of November 2022, Aliko Dangote was the richest man in Africa. Find many great new & used options and get the best deals for LEILEI Black 100% Silk Semi Sheer Blouse Top Short Sleeve Size XL at the best online prices at eBay! He would soon feel threatened by his political affiliations and move to the United States in 1992, as a refugee. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. 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). The bank first operated in Uganda as the National Bank of India in 1906. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. He lives in Glencoe. (Sponsored Content) Published. $180 Billion. 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. Thus the production of coffee is a perfect business that Omer Ali Shifaw set up there. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. Ethiopiahasonly a few billionaires, more multimillionaires, and 3,200 ultra-high-net-worth individuals. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. 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. Ronald Karauri, who made the announcement, revealed that Pevans is facing a staggering Ksh14.3 billion ($114.7 million) in negative equity. However, she returned to manage her business after the group incurred losses up to 1 million within a short period. The 63-year-old real estate mogul is the founder of Sunshine Investment Group, a construction and real estate development company that develops residential, leisure, and commercial properties in Ethiopia and the Middle East. China. Eyob "Joe" Mamo. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. However, she returned to manage her business after the group incurred losses of up to 1 million within a short period. Over 80% of the people in Somaliland are avid chewers of khat, but due to the harsh climate in the region, the cultivation of khat is not possible, leaving them dependent on Ethiopian khat. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. in 1976, as a mere youth. 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. As of June 2022, Nassef Sawiris, with a net worth of 7.3 billion U.S. dollars, is the richest man in Egypt, fourth richest in the African continent, and ranked 292 in the world. Eskinders obsession with quality has changed the way several construction companies operate in Ethiopia. list of the billionaires and millionaires in Ethiopia. Mohammed Al Amoudi - $8.3 Billion. Khan controls more than 50 percent of khat sales in Ethiopia, making it a world market leader. 11 . Unfortunately, after five years of running the business, he would be placed in jail by the Derg military government for long years. In Ethiopia, Eskinder hasconsultedand managed various huge road and bridge projects that are a source of pride for Ethiopians. 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 of March 2, 2023, 6:02 PM EST The Bloomberg Billionaires Index is a . This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in 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. As of 31 December 2020, the banks assets were valued at Shs8. 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. Late last year, Musk became the first person ever to lose $200 billion in wealth after his net worth slid from some $340 billion in Nov. 2021 to $137 billion in Dec. 2022. This company went into other sectors of agriculture as well so that it can flourish from all sides. 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. Analysts expect the companys shares to recover in the medium to long term, as the leading financial services group prepares to launch operations in Ghana, Ethiopia, and the Democratic Republic of the Congo through partnerships led by its mobile phone banking service, M-Shwari.