- Middle East Business News
Wednesday, 30 September 2020 11:19 UAE time
4#  Mohammad Al Amoudi  - picture not available
4# Mohammad Al Amoudi

Net Worth: US$ 8.8 Billion
Country of Residence: Saudi Arabia
« Back to List
If ever there was a truly global entrepreneur, it must be Mohammad Hussein Al Amoudi. Born in Ethiopia to a Yemeni father, Al Amoudi was raised in Saudi Arabia and has invested a sizeable fortune in Sweden and North Africa.

He made his first fortune in construction and real estate before branching out into buying oil refineries in Morocco and Sweden - where he was honoured with the Royal Swedish Order of the North Star by King Carl XVI - and his native Ethiopia, where he bankrolls the national soccer team.

By the end of last year, the current economic crisis had taken a toll on a number of Al Amoudi's Swedish investments. The stock exchange lost over 30 percent of its value between August and December 2008, while the plummeting oil price hardly helped Al Amoudi's oilfield operations.

Yet while the Nordic region's biggest economy is still in recession as the global paralysis of credit markets undermines consumer spending and saps demand for Swedish goods, the stock exchange has bounced back to summer-2008 levels. And that's good news for investment behemoths such as Al Amoudi, who owns a broad portfolio of businesses not only in oil but also in mining, agriculture, hotels, hospitals, finance, operations and maintenance.

His holding and operating companies, Corral Group and the Midroc Group, employ more than 40,000 people. Corral Group has an investment portfolio in Europe and the Middle East that includes Preem Petroleum, the largest integrated petroleum company in Sweden, Svenska Petroleum & Exploration, SAMIR, Naft Services Company (Saudi Arabia) and Fortuna Holdings (Lebanon).



Disclaimer: The views expressed here by our readers are not necessarily shared by or its employees.

Click here to post a comment

Add your Comment
All posts are sent to the administrator for review and are published only after approval. reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
Subject *
Comment *
Notify me of further comments

Please click post only once - your comment will not be published immediately.

Meet The Boss