Mohammed Hussein Al Amoudi Biography: Early Life, Age, Career, Personal Life and Net Worth 2026
Mohammed Hussein Al Amoudi Biography
Mohammed Hussein Al Amoudi is a successful businessman known for his work in many fields like oil, mining, and farming. He was born in Ethiopia but became a citizen of Saudi Arabia. Today, he is one of the richest people from Africa and the Arab world. His story shows how hard work and smart choices can lead to big success. Al Amoudi started with small jobs and built a large group of companies that help economies in different countries. He also gives back to society through help in health and education. This article will look at his life to teach readers about his path and impact. It uses facts from trusted sources to keep things clear and true.
Al Amoudi has faced ups and downs, like a time when he was held in Saudi Arabia. But he came back strong and keeps building his businesses. His life teaches us about moving between cultures and making a difference in the world. Readers can learn how one person can change things for many others through business and kindness.
Mohammed Hussein Al Amoudi Early Life and Background
Mohammed Hussein Al Amoudi was born on July 21, 1946, in Dessie, a town in the Wollo Province of what was then the Ethiopian Empire. His father came from Yemen, from a place called Hadhramaut, and worked as a trader in spices and coffee. His mother was from Ethiopia, from the Amhara area in Wollo Province. This mix of backgrounds gave him a unique view of life from a young age. He grew up in a place called Weldiya, close to Dessie, where he learned about both Ethiopian and Yemeni ways of life.
As a child, Al Amoudi saw his father’s work in business. This likely sparked his interest in trade and making deals. Ethiopia in the 1940s and 1950s was changing after World War II, with new chances but also hard times. His family was not rich, but they had a steady life from trading. Young Al Amoudi went to local schools and learned basic skills that would help him later.
In 1965, when he was about 19 years old, Al Amoudi moved to Saudi Arabia to join family members there. This move was big for him. Saudi Arabia was growing fast because of oil money, and many people from other places went there for work. He became a citizen of Saudi Arabia soon after. This change let him start fresh in a new land with more chances. He worked in simple jobs at first, like in building and property. His early years taught him to adapt and work hard, which set the base for his future success.
Mohammed Hussein Al Amoudi Career
Al Amoudi’s career began in Saudi Arabia in the late 1960s. He started with work in building and real estate. The country was booming with oil wealth, and there was a need for new buildings and roads. He took small contracts and grew them into bigger ones. By the 1970s, he had his own companies. One key step was in 1988 when he won a big deal to build an underground oil storage site in Saudi Arabia. This project cost about $30 billion and showed his skill in large jobs.
In the 1990s, he spread his business to other areas. He founded MIDROC, which stands for Mohammed International Development Research and Organization Companies. This group became his main way to invest in many fields. MIDROC works in oil, farming, mining, hotels, health care, and more. It has offices in the Middle East, Africa, and Europe. Today, it hires over 70,000 people around the world.
One big part of his career is energy. He bought oil refineries in Sweden and Morocco. In Sweden, he owns Preem AB, the biggest fuel company there. Preem makes and sells oil products. He also has Corral Petroleum Holdings, which handles much of his energy work. In Morocco, he had SAMIR, a refinery for petroleum. He sold some assets in 2025, like Svenska Petroleum Exploration, which helped his wealth grow again.
Al Amoudi went back to Ethiopia in the mid-1980s to invest. He is the largest foreign investor there. Through MIDROC Ethiopia, started in 1994, he put money into gold mining. His Lega Dembi Mine makes about 4,500 kg of gold and silver each year. He pays royalties to the government, like 100.1 million birr in one year. He also built a steel plant called Tossa in the Amhara Region to make more steel for the country. Ethiopia’s need for steel went up from 1.2 million tonnes to 3.1 million tonnes between 2011 and 2014, and his plant helps meet that.
In farming, he owns Saudi Star Agricultural Development. This company grows fruits, vegetables, grains, coffee, tea, and rice on thousands of hectares. In 2011, he planned a $2.5 billion rice project on 10,000 hectares. He also has land for coffee, like 2,295 hectares in Sheka Zone, with over 1,000 hectares planted. He bought 69% of Addis Tyre in 2011 to make tires. For cement, he started Durba Midroc in 2008, with a plant near Chancho that gets power from the government.
Al Amoudi also helps with big projects in Ethiopia. In 2011, he gave 1.5 billion birr (about $88 million) to the Grand Ethiopian Renaissance Dam. He donated 10 million birr (about $500,000) for a coffee museum. In Saudi Arabia, he pledged $275 million in 2010 for the first Saudi car, Gazal-1. He planned $1.07 billion for industrial projects in phosphate and sulfur in 2011.
Beyond business, Al Amoudi gives to good causes. This is part of his career because it helps communities where he works. He focuses on health and education. In Saudi Arabia, he funded a breast cancer research center at King Abdulaziz University. In 2008, he gave money for oil recovery research at King Saud University. He supports sports, like funding the CECAFA Cup in 2005 and 2006, Africa’s oldest football event. In Ethiopia, he built a school in Addis Ababa with 60 classrooms, a library, and labs for 1,500 students. He gave scholarships for students to study abroad and bring skills back. For health, he built a 140-bed hospital in Addis Ababa and helped with programs for the blind, disabled, and kids. He donated $15 million in 2011 for HIV/AIDS work in Africa.
During hard times, he helps. In 2017, he sent 55 trucks of maize (20,000 quintals) and animal food (150,000 kg) to drought areas in Oromia, Ethiopia. He added more to Somali Region, worth about $1.5 million. In 2020, he gave 120 million birr (about $3.6 million) to Addis Ababa for COVID-19 fight, the biggest private gift in Ethiopia then. His companies follow corporate social responsibility, like in Morocco and Sweden.
Al Amoudi’s work has changed economies. In Ethiopia, his investments create jobs and bring in money. In Sweden, Preem is a top fuel firm. His story shows how to grow from small starts to global reach.
Mohammed Hussein Al Amoudi Net Worth
As of January 2026, Mohammed Al Amoudi’s net worth is around $8.5 billion, according to Bloomberg Billionaires Index. This makes him one of the top 500 richest people in the world, at about 440th place. His wealth comes mostly from private companies in Sweden, Saudi Arabia, and Ethiopia. Energy is a big part, like his stake in Preem AB, worth over $5 billion. Mining and farming also add to it.
His net worth has changed over time. In 2016, it was about $10.9 billion. It dropped in 2025 because of sales like Svenska Petroleum and issues with gold assets in Ethiopia, losing about $4 billion. But by late 2025, it rose back by $2.4 billion to over $8 billion, thanks to Preem’s value. In August 2025, it was $7.93 billion, then $8.1 billion later.
Forbes listed him in the top 100 richest from 2006, like 82nd in 2015. He is Ethiopia’s richest person and the second richest Saudi citizen. His wealth helps him invest more and give to causes.
Mohammed Hussein Al Amoudi Controversies
Al Amoudi has faced some issues in his career. The main one was his arrest on November 4, 2017, in Saudi Arabia. This was part of an anti-corruption drive led by Crown Prince Mohammed bin Salman. He was held with princes, officials, and businessmen at the Ritz-Carlton in Riyadh. The government said it was to fight things like money laundering, bribery, and taking money from officials.
He stayed in custody for over 14 months. In December 2018, officials said he was charged with corruption and bribery but still alive, after rumors he had died. He was let go on January 27, 2019. No full details came out about any deal or charges. Some say detainees gave up assets to get free, but this is not confirmed for him.
After release, his businesses kept going. But in October 2018, while still held, Ethiopia took back some land leases in Addis Ababa from him and others. This was part of government changes.
There are also talks about his mining in Ethiopia. Some worry about harm to the environment from gold mines, but no big cases are proven. His work stays focused on growth, and these events did not stop his impact.
Mohammed Hussein Al Amoudi Personal Life
Al Amoudi keeps his personal life private. He is married to Sofia Saleh Al Amoudi, who is from Saudi Arabia and owns shares in MIDROC Construction. They have eight children. He lives in places like Jeddah in Saudi Arabia, central London, and Surrey in the UK. In July 2024, he went back to Ethiopia after years away, arriving with a fancy car, a Rolls-Royce Spectre.
He likes to stay out of the spotlight. His family helps with his businesses sometimes. He splits time between homes to manage his global work.
Conclusion
Mohammed Hussein Al Amoudi’s life is a tale of rising from simple starts to big success. Born in Ethiopia in 1946, he moved to Saudi Arabia and built a business empire in oil, mining, and farming. His companies help thousands of people with jobs and growth. Even after tough times like his 2017 arrest, he keeps going strong. His giving in health and education shows he cares about others. Today, with a net worth of about $8.5 billion, he is a role model for business and kindness. His story teaches us to work hard, adapt, and give back.
FAQs
Where was Mohammed Hussein Al Amoudi born?
He was born on July 21, 1946, in Dessie, Wollo Province, Ethiopia.
What is Mohammed Al Amoudi’s net worth?
As of January 2026, it is about $8.5 billion, mostly from energy and mining.
What companies does Mohammed Al Amoudi own?
He owns MIDROC, Preem AB, Corral Petroleum Holdings, and parts of gold mines and farms in Ethiopia.
Why was Mohammed Al Amoudi detained in Saudi Arabia?
He was arrested on November 4, 2017, in an anti-corruption drive and released on January 27, 2019.
Is Mohammed Al Amoudi the richest man in Ethiopia?
Yes, he is seen as Ethiopia’s richest person.
What has Mohammed Hussein Al Amoudi done for Ethiopia?
He invests in mining, farming, and building, and gives to schools, hospitals, and the Renaissance Dam.
