
Ethiopia’s richest man Mohammed Al-Amoudi sees Preem stake soar to $4.7 billion
Preem’s newly published 2024 annual report provided fresh insights into its valuation, driving up the value of Mohammed Al-Amoudi’s stake.
Preem’s newly published 2024 annual report provided fresh insights into its valuation, driving up the value of Mohammed Al-Amoudi’s stake.
The company reported lower revenue and profit for the second straight year, reflecting weaker refining margins and a challenging market environment.
His net worth now stands at $9.4 billion, reinforcing his status among the world’s wealthiest individuals.
Ethiopia’s wealthiest man, Mohammed Al-Amoudi, lost over $1 billion in recent months, with his net worth dropping to $8.76 billion.
Al-Amoudi’s net worth has jumped from $9.12 billion on April 26 to $9.31 billion as of this report. This translates to an average daily gain of $10 million since April 26.
This follows a $320-million gain in Al-Amoudi’s net worth between March 28 and April 12.
The recent uptick in his fortune is mainly credited to the strong performance of his broad industrial investments in Sweden, Saudi Arabia, and Ethiopia.
Ethiopia’s richest man Mohammed Al-Amoudi’s net worth has declined by $100 million in just six days, the latest setback in a string of wealth declines.
Al-Amoudi’s fortune has dwindled from $9.29 billion on Feb. 25 to $9.13 billion.
For Mohammed Al-Amoudi, this potential deal represents an opportunity to derive further value from his investments in the oil and gas industry.
The surge in his fortune propels Al-Amoudi to 259th place on the prestigious list of the world’s 500 wealthiest billionaires.
The primary driver behind this surge is attributed to the robust performance of his diverse industrial assets across Sweden, Saudi Arabia, and Ethiopia.