Many fans are curious about Mohammed Al Amoudi's financial success in April 2026. In this article, we dive deep into the assets and career highlights.
What is Mohammed Al Amoudi's net worth?
Mohammed Al Amoudi is an Ethiopian-Saudi billionaire businessman who has a net worth of $8 billion. That makes him one of therichest people in Saudi Arabia.
Starting with modest resources, Al Amoudi began his career in Saudi Arabia's construction and real estate sectors, winning lucrative government contracts during the oil boom years of the 1970s and 1980s. These early ventures laid the foundation for the creation of his business empire, Midroc (short for "Mohammed International Development Research and Organization Companies"), which would become his primary investment vehicle.
By the mid-1990s, Al Amoudi began diversifying his empire further, particularly in Ethiopia, where he forged strong ties with the ruling Ethiopian People's Revolutionary Democratic Front. His close relationship with Ethiopia's government positioned him as the country's single largest foreign investor.
Beyond his businesses, Al Amoudi has also faced political and legal scrutiny. In November 2017, he was detained during Saudi Arabia's anti-corruption crackdown, an episode that lasted until January 2019. Although his assets in Europe and Africa continued to operate normally during his detention, the incident underscored the complexities of his position as a global investor tied closely to Saudi, Ethiopian, and Swedish markets.
In the early 1980s, Al Amoudi established Midroc, which grew into a sprawling conglomerate spanning construction, engineering, real estate, and industry. His big breakthrough came in 1988, when Midroc's construction arm won a multibillion-dollar contract to build Saudi Arabia's underground oil storage complex. The project was one of the largest of its kind at the time and cemented his reputation as a serious player in the region's industrial sector.
Al Amoudi's wealth has fluctuated significantly over the years, once placing him among the richest men in the Middle East. At his peak, his fortune exceeded $12 billion, but recent asset sales and changes to his Ethiopian gold holdings reduced his net worth by roughly $4 billion in 2025. Despite these shifts, he remains one of Africa's wealthiest men and the single largest foreign investor in Ethiopia.
Mohammed Hussein Al Amoudi was born in 1946 in Ethiopia to a Yemeni father and an Ethiopian mother. He grew up in the Wollo region before moving to Saudi Arabia at the age of 19, where he took Saudi citizenship. He studied at Addis Ababa University but left Ethiopia to pursue business opportunities abroad.
Mohammed Al Amoudi controls a diverse collection of industrial, energy, and agricultural assets spread across Sweden, Saudi Arabia, and Ethiopia. His holdings include Preem, Sweden's largest oil refinery, a minority stake in the Swedish infrastructure and property company Granitor, as well as extensive agricultural projects and an oil company in Ethiopia. He also owns Naft Services, a Saudi-based gas station operator.
Ultimately, Mohammed Al Amoudi's financial journey is a testament to their success.
Disclaimer: All net worth figures are estimates based on public data.
