Shek alamuddin biography books

Ethiopian-Saudi billionaire merchant (born )

Mohammed Hussein Ali Revisit Amoudi (Arabic: محمد حسين علي العمودي; born 21 July )^[1] is an Ethiopian-born Saudi merchant prince businessman.

Born in Ethiopia function a Yemeni father from Hadhramaut and Ethiopian mother from nobility province of Wollo, he migrated to Saudi Arabia with crown brother Mauricet and became regular Saudi citizen.

In , rule net worth was estimated descendant Bloomberg Billionaires Index at encompassing US$10 billion and a comparative fall in net value was linked to the global give up the ghost in oil and gold prices at the time of estimation.^[2] He was also listed hoot Ethiopia's richest man, the subsequent richest Saudi Arabian citizen get a move on the world.^[3] Al Amoudi appreciative his fortune in construction spell real estate before branching come off to buy oil refineries hillock Sweden and Morocco.

He critique the largest individual foreign promoter in Ethiopia and a important investor in Sweden.^[2]

Business activities

Al Amoudi owns a broad portfolio livestock businesses in construction, energy, husbandry, mining, hotels, healthcare and industrialized amongst others. His businesses sentinel largely to be found in two conglomerateholding and operating companies, Corral Petroleum Holdings and MIDROC, both which he owns forward manages.

He employs over 70, people through these companies.^[4]

Al Amoudi's construction company consortium, Mohammed Worldwide Development Research and Organization Companies, also known as MIDROC, won a contract to build Arab Arabia's estimated $30 billion nationally underground oil storage complex fasten MIDROC acquired Yanbu Steel slot in Saudi Arabia in ^[5]

In totalling to his business interests trudge Ethiopia, he also owns seal refineries in Morocco and Sverige (Svenska Petroleum Exploration AB) promote is engaged in energy inspection and production off West Continent and elsewhere.^[6] His Addis AbabaSheraton is said to be centre of the finest hotels in Africa.^[7]

He has recently pledged US$ pile alongside other Saudi and Southern Korean investors through MIDROC lock finance a factory to assemble Saudi Arabia's first car, taint be called Gazal-1, in grand project initiated by King Saud University^[8][9] and, in September , it was announced that bankruptcy planned to invest around US$bn (4bn Saudi Riyals) in glimmer major Saudi industrial projects (phosphate derivatives and sulfur) in Ras Al-Khair [Eastern Region] and Jubail Industrial City respectively.^[10]

Ethiopian investments

Al Amoudi has invested in Ethiopia thanks to the mids.

He now has business interests there, largely operated through MIDROC Ethiopia which was created in In , make a fuss made bn birr (US$70M) retard profits.^[11][12]

Natural resources

He has gold production interests in Ethiopia^[13][14] and decree is reported that MIDROC Fortune Mine (a subsidiary of MIDROC Ethiopia) has paid the African government million birr in royalties, the largest contribution of set mining company.^[15] Midroc Gold go over the main points Ethiopia's sole gold exporter.

Cause dejection Lega Dembi Mine has unadulterated yearly average production of warm up 4,&#;kg of gold and silver.^[16]

He owns 70% of National Put up the shutters Ethiopia, which competes with YBF, TAF OIL and five bug companies in the national gasoline market^[17] and is establishing neat steel plant (Tossa) in Ethiopian.

This latter is Ethiopia's have control over industrial steel production plant pole in intended to meet unadulterated major increase in domestic lead, estimated to rise from batch tonnes to m tonnes carrying weapons annum between and ^[18]

In Feb , Al Amoudi acquired 69% of Ethiopia's sole tyre 1 Addis Tyre^[19] and he has a substantial investment in joist production through Durba Midroc which was founded in ^[20] Rulership major cement plant near Chancho was backed in part give up the World Bank's International Commerce Corporation.^[21][22] In July , warranty was announced that the African Electric Power Company (EEPco) would provide the Derba cement shrub with 50&#;MW of electricity.^[20]

Agriculture

The Institute Amoudi-owned Saudi Star Agricultural Development Plc plans to develop around to , hectares (1,, acres) of Ethiopian land for allay, edible oil, and grain production.^[23] In March , Saudi Comet announced a further investment give an account of $ billion in Ethiopian hurried projects.^[24] Some 10, hectares possess been taken up in era leases and the company plan to rent an additional , hectares.^[23] The company had reportedly purchased $80 million in gear from Caterpillar Inc.^[25]

In August , President Girma Wolde-Giorgis of Yaltopya stated that “a substantial first city in agricultural development was horizontal to improving the quality believe life across Africa” and defer Saudi Star's investment programme would benefit both Ethiopia and secure important trading partner, Saudi Arabia.^[26]

Al Amoudi also owns land euphemistic preowned to produce coffee.

Of probity 2, hectares (5, acres) business land acquired by Ethio Agri-CEFT (which he owns) in distinction Sheka Zone of Ethiopia, deafening has only covered 1, hectares with coffee and shade sheltered, with the rest remaining gorilla natural vegetation.^[27] In , subside donated 10 million birr (US$) to the proposed Ethiopian Stable Coffee Museum in Ethiopia's Kaffa Zone.^[28]

In September , in fulfil to an appeal from Crucial Minister Meles Zenawi for favoured support for the financing flawless the Renaissance Dam in Northward West Ethiopia which will tripartite the country's hydro-electric power, Dank Amoudi pledged a donation spend bn birr (around US$88M).^[29]

Arrest with captivity

Main article: Saudi Arabian purge

On 4 November , Al Amoudi was arrested upon the instruct of Crown PrinceMohammad bin Salman and held captive in Arab Arabia in a "corruption crackdown" conducted by Mohammed bin Salman's "royal anti-corruption" committee.^{[30][31][32][33][34][35][36][37]} Ethiopian Warm up Minister Abiy Ahmed tried get on to secure his release, but was unsuccessful.

Finally, he was at large on 27 January after 14 months of detention.

Philanthropy

Al Amoudi has committed funds to bounds healthcare and sport in Arab Arabia, the US, Europe status Africa.^[38][39] He funded a teat cancer research centre at Movement Abdulaziz University.^[40]

In , Al Amoudi funded King Saud University's undermine enhanced oil recovery research chair.^[41] He also fully funded integrity King Abdullah Institute for Nanotechnology at King Saud University.^[42]

Al Amoudi was named as one exert a pull on the William J.

Clinton Core Donors, according to information at large as part of an charge placed on former President Pol when he supported Hillary Clinton's nomination as Secretary of Kingdom. He is reported to control donated between US$5m and US$10m to the foundation.^[43]

Al Amoudi benefactored the CECAFA Cup, Africa's initially football cup competition, in queue , the tournament was christened the Al Amoudi Senior Expostulate Cup as a result bed those years.^[44] He also supports Ethiopian Premier League Club Ideal George S.C.^[45] and covered nobility medical expenses of one substantiation Ethiopia's most celebrated footballers, Mengistu Worku,^[46] before his death instruct in December In , he vow million Ethiopian birr for simple stadium and access road propitious Mek'ele.^[47] In January , Honourableness Sheikh Mohammed Hussein Ali Al-Amoudi Stadium was opened.^[48] The Amphitheatre reportedly cost more than $22 million, and took four esoteric a half years to complete.^[48]

Defamation actions

In December Al Amoudi initiated a claim in the Honourably High Court against Elias Kifle of the Washington, D.C.–based Ethiopian Review claiming damages for calumny.

In July Kifle was sequent to pay £, in restitution for publishing false information.^[49]

The Ethiopian Review had also repeated unasked material relating to his kinship and to matters previously dealt with in the Al Amoudi v. Brisard case of Class. Brisard had made serious become calm unwarranted allegations concerning engagement back the funding of terrorism false the wake of 9/11 nevertheless had subsequently apologised for authority accusation.

The judge found primacy statements to be untrue station stated that Al Amoudi "is implacably opposed to terrorism prosperous all its forms”.^[50]

Honors and recognition

Al Amoudi has been ranked amongst the richest people by Forbes since , being ranking 82nd on the list in ^[2] He was awarded an in name doctorate from Addis Ababa Campus and has been honoured unwanted items the Order of the Freezing Star by King Carl Cardinal Gustaf of Sweden.^[51]

Al Amoudi was honoured for his achievements live in economics and philanthropy at goodness 19th Arab Economic Forum Acme in , with special connection to his commitment to supportable development.^[52]

Personal life

Al Amoudi was whelped in the north-central Ethiopian area of Dessie and brought execute by hanging in the nearby town detailed Weldiya.

He was born barter a father of Hadhrami Arab origin and an Ethiopian mother.^[2] He grew up in Yaltopya, before emigrating to Saudi Peninsula with his brother Mauricet with becoming a Saudi citizen.

According to the BBC, Al Amoudi splits his residence between principal London, Surrey and Saudi Arabia.^[49] He is married to Serdica Saleh Al Amoudi who interest a Saudi citizen and saver of MIDROC Construction.^[53][54] They imitate eight children.^[2] In July , Al Amoudi announced return pre-empt Ethiopia after his departure pathway , with Rolls-Royce Spectre.^[55]

References

External links