10 wealthiest people in Ethiopia Ethiopia as a country has several extremely
wealthy citizens who are internationally recognised for their wealth, as well as businesses and
large corporations that generate millions of dollars in revenue.
Even though Ethiopia is classified as a developing country, some rich people live and enjoy life
in the same way that Westerners do.
Ethiopia, as one of the world's fastest-growing economies, is on its way to becoming an important
global trade hub.
Ethiopian men and women from various backgrounds, ethnicities, and religions have spearheaded
the country's phenomenal growth.
Ethiopians are known for their hard work and dedication to their chosen fields.
They have so much money because of political connections and a stable business that takes
supplies from the country and sends them to other places.
Most people's paths to becoming one of Ethiopia's wealthiest people were not easy, but they
succeeded thanks to an unwavering desire to succeed.
The top ten richest Ethiopians in 2022 are listed below.
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10.
Belayneh Kindie ($60 Million) Belayneh Kindie has amassed a fortune through
his Belayneh Kindie (BK) Business Group, an Ethiopian company that began by exporting
oil seeds, nuts, and other products.
BKIE quickly began to expand into various other sectors after focusing its efforts on
employee development, good management, and strict credit controls.
Since its inception in 2005, the company has grown to become one of the country's largest
sesame seed exporters as well as a leading Ethiopian agricultural commodities trader.
Belayneh entered the transportation business in 2006, when he established the BKPT, or
Belayneh Kindie Private Transport, with six 40-ton carrying trucks.
This company now owns over a hundred.
In 2008, Gerelta Business Plc.
was formed to strengthen and expand Belayneh's import and export businesses.
Belayneh's assets skyrocketed in 2009 when he paid 134,000,000 ETB or $5,000,000 for
the famous Ethiopia Hotel (Addis Abeba) and the popular Ras Hotel (Adama/Nazreth).
Belayneh, who is always looking to expand, would spend another 600,000,000 ETB (or $23,000,000)
to acquire a 40,000 sqm plot of land in Bahir Dar on which to build a 5-star resort and
hotel.
Through BK Business Group, it has recently evolved into a prominent corporate group in
the country.
Today, the Group operates in Ethiopia and abroad in trade, transportation, construction
material rentals, hotels, domestic business investments, and product and service sales.
Overall, Belayneh Kindie, an Ethiopian billionaire and one of the country's wealthiest, is a
business titan, with successful ventures ranging from hotels to import/export, transportation,
rental, manufacturing, and agriculture.
9.
Abay Tsehaye (1.5 billion dollars) He is an Ethiopian politician from the ruling
party.
He has enough clout within the party because he is a veteran.
That is one of the reasons he has made so many connections and contributed so much to
the country's economy.
He has also invested in various business sectors, which has made it easier for him to profit.
The company's shares have increased her current estimated worth to around $1.5 billion.
He wields enormous power in the country.
8.
Samuel Tafesse($1.6 billion) Samuel Tafesse is a well-known businessman
in Ethiopia.
Sunshine Investment Group, a construction and real estate development company that develops
residential, leisure, and commercial properties in Ethiopia and the Middle East, was founded
by the 63-year-old real estate mogul.
Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia since
its inception in 1983.
This includes Addis Abeba's historic Marriott Executive Apartments.
Sunshine has built 1,129.78 kilometres of road projects as the government's primary
highway contractor.
The company employs over 3,000 people.
Its accomplishments over the last 34 years have enabled it to establish a dependable
capacity and demonstrate practical excellence in the construction sector.
Samuel, unlike other wealthy people in the world today, did not have a happy childhood
or a financially stable family background, which caused him to drop out of school at
one point due to fees and force him to work as a 14-year-old to support his family.
Samuel Tafesse, however, is now the CEO and founder of Sunshine Construction Group thanks
to his determination and hard work.
Samuel Tafesse's company now works on large-scale road and bridge projects, large-scale real
estate developments, residential property construction, hotel and commercial building
construction, and so on.
Tafesse, in addition to founding Sunshine Investment Group, has played a pivotal role
in the development of Ethiopia's construction sector.
Under the umbrella of Sunshine Investment Group, he has also established other businesses
and philanthropic organisations.
Ethio Biography estimates his net worth at $1.6 billion, based on the annual revenue
of more than $100 million.
7.
Seyoum Mesfin – $1.8 Billion He is currently serving as Ethiopia's ambassador
to China.
He previously served as foreign affairs minister, where he wielded considerable power over trade.
He has served as the chairman of Ethiopian Airlines.
His influence in the Ethiopian cabinet and the airlines enabled him to smuggle a large
number of drugs throughout Africa and Asia.
He is Africa's richest drug lord, with a long criminal history of dealing illegal drugs.
He has made a lot of money in this business in recent years, and his current net worth
is estimated to be $1.8 billion.
6.
Sebhat Nega – $2 Billion Within the ranks of the Tigray People's Liberation
Front(TPLF), Sebhat Nega is regarded as a magnate.
It is well known that he established a business empire in Ethiopia worth multiple billions
of dollars during the 27 years that the group was in power there.
Nega was in charge of the TPLF business empire, which was a subsidiary of the Endowment Fund
for the Rehabilitation of Tigray conglomerate.
As a result of his involvement in various political organisations and his business dealings
conducted through TPLF, he has amassed a fortune that is well into the hundreds of millions
of dollars.
Nega was widely regarded as one of the most influential men in all of Ethiopia.
At one point in time, he was thought to have even more power than the former prime minister
Meles Zenawi, who has since passed away.
5.
Berhane Gebrekristos – $2 Billion He was one of the people who were most intimate
with the dictator Meles and his wife Azeb Mesfin.
He is a trusted apprentice of the dictator, and even now he is a partner of Azeb Mesfin
in various businesses.
Azeb Mesfin is one of his partners.
He was involved in the dictator's diplomatic efforts, which were a front for the laundering
of illicit funds.
Before the current government was established, the dictator assisted the newly established
regime in their efforts to steal money from the populace under the guise of collecting
taxes.
The dictator himself had previously stolen a large sum of money from the populace under
the same pretext.
His wealth is currently estimated to be in the range of $2 billion.
Earlier in his career, he served on the politburo of TPLF and maintained a close relationship
with the dictator.
In addition to that, he was a member of the committee that oversaw the Endowment Fund
for Relief of Tigray.
Despite his closeness to Meles, he was eventually expelled from both organisations.
It is currently estimated that he has a net worth of approximately $2 billion, but in
the past, his actual worth was significantly higher than this.
He is still considered to be one of the most influential people in all of Ethiopia at present.
4.
Eyob Joe Mamo – $2.5 Billion Eyob Joe Mamo is an Ethiopian oil tycoon who
is known for running and controlling half of the gas stations in Washington, District
of Columbia, through Capitol Petroleum Group, a leading wholesale distributor of petroleum
services in the Metropolitan Washington, District of Columbia area as well as New York City.
Mamo, who prefers to keep a low profile, is regarded as the king of the gas business in
the District of Columbia.
Eyob Mamo immigrated to the United States when he was still a young boy, in 1981.
Eyob was sent to a boarding school in Dakota by his father, who was the owner of Mamo Kacha,
a bus transportation company in Addis Ababa.
His father did this to protect Eyob from the Derg government, which was in power at the
time.
Today, Eyob, also known as Joe, is the owner and operator of the privately-owned Capitol
Petroleum Group, which has control over more than 41 percent of the gas stations in Washington,
District of Columbia.
The enterprising Eyob purchases his gasoline from refiners and then resells it to the proprietors
of the gas stations that he owns and operates.
As a result of Capitol Petroleum Group's valuation of $800 million in 2011, he is considered
to be one of the wealthiest businessmen in Ethiopia and is estimated to have a net worth
of $2.5 billion.
An offer to purchase a minority stake in D.C.
United has been submitted by the Ethiopian magnate and real estate developer.
With this six per cent stake, he would become the most recent of a slew of new minority
partners that the United States soccer franchise has added over the past few years.
3.
Meles Zenawi – $3 Billion Born on May 9, 1955, Meles Zenawi was an Ethiopian
politician and businessman.
He passed away on August 20, 2012, at the age of 57 years old.
Celebrity Net Worth estimates that he had a net worth of $3 billion at the time of his
death.
Meles Zenawi served as the Prime Minister of Ethiopia in the past.
In the nineties, Zenawi served as President of Ethiopia, which he did not do until he
became Prime Minister of his home country (from 1991-to 1995).
During the decade of the 1980s, he also served as the head of the Ethiopian People's Revolutionary
Democratic Front (EPRDF) and as the chairman of the Tigrayan People's Liberation Front
(TPLF).
Zenawi was hailed as one of Africa's strongmen after becoming Prime Minister of Ethiopia
in 1995 and serving in that capacity until his death in August 2012.
He was responsible for instituting a multi-party political system and private press in the
country, in addition to lowering the rates of child mortality.
Zenawi passed away in August 2012.
In addition to this, he played a significant role in the United States' War on Terror,
contributing to the destruction of military organisations like Al Qaeda.
In addition, Zenawi was lauded for his efforts to cultivate a stable relationship with the
African Union, which played a significant part in enhancing the position of the continent
concerning climate change.
However, he was accused of abusing a series of human rights issues and repressing the
freedom of the press and speech, which led to a significant backlash against his leadership.
After having surgery in Brussels to remove a brain tumour in August 2012, Zenawi succumbed
to an infection and passed away.
He was 57.
Obama has stated that Zenawi is deserving of recognition for the lifelong contributions
he has made to the growth of Ethiopia, particularly concerning the country's underprivileged population.
2.
Azeb Mesfin – $4 Billion She is the widow of Meles, the former dictator
who passed away.
In addition to running her own company, she is an investor in several Ethiopian businesses.
The people of Ethiopia have given her the name "mother of corruption," which contributes
to her reputation as a criminal among the population of that country.
She is a stakeholder in the largest companies and industries, and as a result, it is estimated
that she has a net worth of approximately $4 billion.
This value takes into account both the wealth she accumulated as a dictator and the benefits
she received from the companies in which she has a stake.
1.
Mohammed Al Amoudi (8.3 billion dollars) Al Amoudi was born in Ethiopia in 1946 to
a Hadhrami father and an Ethiopian mother.
Forbes estimated his net worth to be around $10.9 billion in 2016, with a relative drop
in net worth linked to the global drop in oil and gold prices at the time of estimation.
He was also named Ethiopia's richest man, the world's second-richest Saudi Arabian citizen,
and the world's second-richest person of African descent.
Before buying oil refineries in Sweden and Morocco, Al Amoudi made his fortune in construction
and real estate.
He is Ethiopia's largest individual foreign investor and a significant investor in Sweden.
Al Amoudi owns a diverse range of businesses, including those in construction, energy, agriculture,
mining, hotels, healthcare, and manufacturing.
His operations are primarily concentrated within two conglomerate holding and operating
companies, Corral Petroleum Holdings and MIDROC, which he owns and manages.
Through these businesses, he employs over 70,000 people.
Through his wholly-owned Petroswede AB, the billionaire owns Svenska Petroleum, Midroc
Europe (a construction and property group), and Preem (his most valuable asset).
He also has a 17.5% stake in Crunchfish AB, a Swedish technology firm that specialises
in gesture recognition.
Following the appointment of one of his sons-in-law to the board of Midroc Gold, which owns the
Sheraton hotels in Djibouti and Addis Abeba, Al-Amoudi has tightened his grip on his hotel
business.
He is one of Africa's wealthiest individuals, ranking alongside Aliko Dangote and others.
Al-net Amoudi's worth is estimated to be around $8.3 billion by Celebrity Net Worth, and $6.31
billion by Bloomberg Thanks for watching!
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