In 2020, private wealth in Ethiopia was estimated at $57 billion, $1 billion higher than the figure for Ghana and $33 billion lower than Kenyas $90 billion. Elon Musk, with a fortune of $266 billion, is the richest person on the planet. The banks share price has dropped 7.8 percent since the start of the year, from Ksh39.8 ($0.322) on Jan. 1 to Ksh36.7 ($0.288) on Feb. 28, pushing its market capitalization below Ksh60 billion. The enterprise was established as an operating holding for subsidiary companies acting in various sectors, such as FMCG manufacturing, agriculture, agro-processing, printing and packaging, transport, real estate, cement production and coal mining. In 2021, the respective headliners were Kendrick Lamar, Tyler, the . (Reuters) Larry . As of Jan 2023, India has 166 billionaires which put the country third in the world, after the United States and China. From Nigeria, he is the founder and . Rich List 2022 is our definitive guide to the wealth of the UK's richest people. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. 1. During the period when Pevans East Africa operated the SportPesa brand, Ndungu, a reclusive business leader who is a significant shareholder and non-executive director of Life Care Medics, received Ksh1.3 billion ($11.1 million) from the company until it ceased operations in June 2019. He was listed on Forbes as the 67th richest man in Africa and the 183rd in the world. Heading into 2022, the 10 wealthiest individuals in the world are all worth . Late last year, Musk became the first person ever to lose $200 billion in wealth after his net worth slid from some $340 billion in Nov. 2021 to $137 billion in Dec. 2022. 1. For most, the journey to becoming one of the richest Ethiopians was not an easy one, but through an undying obsession to become successful, these people have reached their goals. 8) Larry Page (net worth: $91.5 billion) Larry Page walks by a map of the world during keynote speech at the Consumer Electronics Show in Las Vegas, Nevada, on January 6, 2006. Who is the first billionaire in Ethiopia? Fluent in Arabic, Swahili, English and Amharic the multilingual Ermias would drop out from Haile Selassie I University after only a year and move to the United States, where he would study and become an economist. He is extremely influential in the country. Ethio Telecom 21.6 billion Ethiopian Birr (585 million USD) Ethio Telecom, formerly known as the Ethiopian Telecommunications Corporation (ETC), is an Ethiopian telecom company serving as the foremost internet . Today, the group maintains active operations in trade, transportation, construction material rentals, hotels, domestic business investments and product and service sales in Ethiopia and abroad. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. Ethiopians are known to be hard workers and passionate about their chosen endeavors. $113 . $127 Billion. The . Forbes places Mohammed Al Amoudis fortune at $8.1 billion as of 2017. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group) and Preem (his most valuable asset) through the wholly-owned Petroswede AB. Al Amoudi would begin his journey to astronomical wealth by venturing in the fields of construction and real estate. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopias richest a billionaire. Below is a list of the top 20 richest Ethiopians in 2022. 2. top 100 richest person in ethiopia 2021. by . As a local partner in Ethiopia for Japan Tobacco International, he closed a $1.4-billion deal to acquire a 40-percent interest in Ethiopias National Tobacco Enterprise. icle family law institute 2021; . Akiko Seyoum Ambaye, the daughter of the late and well-known contractor Seyoum Ambaye, is the major shareholder of Orchid Business Group which was established in 2001. Following a brain tumor operation in Brussels, Zenawi died from contracting an infection in August 2012. The dictator himself looted a huge amount of money in the name of taxes from the common people and before the government was formed, he helped them in the loot of money. Jeff Bezos of Amazon, the richest one of the world from the US has a net worth of US$ 140 bn. Akikos deal with the EEP or Ethiopian Electric Power would make her the first Ethiopian to build a privately owned and operated a solar plant in the country. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. Today, the group maintains active operations in trade, transportation, construction material rentals, hotels, domestic business investments, and product and service sales in Ethiopia and abroad. List of wealthiest Canadians (Forbes, 2021) World rank Name Net worth (USD) Source of wealth 33: David Thomson & family: US$41.8 billion: Media 189: Joseph Tsai: . Eskinder Zewdie is a German-educated engineer that has brought his exceptional civil engineering abilities to his homeland. She also has a criminal image of herself among the people of Ethiopia, with the name mother of corruption given to her by the people. As a major shareholder of Tsehay Industry and Tsehay Insurance Share Company, Belayneh would have vast control in Ethiopia's manufacture of LTZ, sheet metal, etc. Berhane Gebrekristos - $2 Billion. She has her own business and owns shares in various companies around Ethiopia. NCBA Group, a Nairobi-based financial services conglomerate led by the wealthy Kenyatta, Merali, and Ndegwa families, operates as a non-operating holding company through its vast network of subsidiaries in Tanzania, Rwanda, Uganda, and Cote dIvoire. Analysts expect the companys shares to recover in the medium to long term, as the leading financial services group prepares to launch operations in Ghana, Ethiopia, and the Democratic Republic of the Congo through partnerships led by its mobile phone banking service, M-Shwari. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. He has also launched other businesses and philanthropic entities under Sunshine Investment Group. A true businessman at heart that rose from humble beginnings to become one of the richest Ethiopians, Ketema Kebede is a true inspiration for all hoping to achieve substantial success. Ethiopia-born billionaire Mohammed Al-Amoudi is Ethiopias richest man with a $6.96-billion net worth. iwi masada aftermarket parts. Aside from his leadership role in Ethiopias first and only indigenous oil and gas company, SouthWest Energy, the leading business tycoon played a vital role in transforming the Ethiopian energy sector. There were a record 2,755 billionaires in Forbes' 2021 list of the world's wealthiest people660 more than a year ago. 1960: Pete Seeger at Bowdoin College in Brunswick, Maine . Source: Oil & Gas, Real Estate and Technology. Angola - $217.97 billion. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. Estimated net worth: $4 billion. To add to this immense business portfolio, the Ture family also has a cement factory, a packaging and printing factory, and an aggregate production facility. She controls over 50% of the khat market in Ethiopia and is also a leader in global sales of the product. Tewodros Ashenafi born in 1969 is a highly educated and enterprising individual that has brought significant changes in the Ethiopia's energy sector. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. As per the index, President Dangote Group, Aliko Dangote, has retained his position as the continent's wealthiest man for the eleventh year in a row with a net worth of $20.5 billion, up from $20.3 billion last month. Jimoh Ibrahim - $1.1 billion. At the time of writing, Co-op Bank shares on the Nairobi Securities Exchange were trading at Ksh12.5 ($0.0985), 4 basis points lower than their opening price this morning, pushing the companys market capitalization further below the Ksh74-billion ($580 million) mark. What is the net worth of Ethiopia? After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. In recent times, Al-Amoudi has tightened his grip on his hotel business following the appointment of one of his sons-in-law to the board of Midroc Gold, whose portfolio includes the Sheraton hotels in Djibouti and Addis Ababa. 2. 91. Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. In response, Ndungu expressed his disappointment, stating that the meeting where he and Asenath Wachera Maina were expelled was not conducted in accordance with the Companies Act. Samuel Tafesse's company now engages in large-scale road and bridge projects, large scale real estate developments, the building of residential properties, hotel and commercial building construction. Stanbic Bank is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. If we simply consider a nation's gross domestic productthe sum of all goods and services produced by a country during one yearthen we would have to conclude that the richest nations are exactly the ones with the largest GDP: United States, China, Japan, Germany. Fv 27, 2023 . 9. With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion. As a local partner in Ethiopia for Japan Tobacco International, they would go on to close a deal for 1,400,000,000 USD for the 40% acquisition of Ethiopia's National Tobacco Enterprise. The 10 Richest Individuals in Ethiopia ===== Even though Ethiopia is classified as one of the developing countries in the world. 10. His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization or ISO. Xu Rongmao & family. Shimao. 3. Meles Zenawi wasan Ethiopian politician and businessman born on May 9, 1955, but died on Aug 20, 2012, at age of 57 years old. A significant percentage of the countrys richest individuals are politicians. Dangote is the richest person in Africa and the only African on the list of top 50 richest in the world. His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . Despite supply chain bottlenecks, Tesla deliveries have increased 27% since the second quarter of 2021. Michael Prince for Forbes. In 2009, Belayneh's assets rose astronomically with his 134,000,000 ETB or 5,000,000 USD acquisitions of the famous Ethiopia Hotel (Addis Ababa) and the popular Ras Hotel (Adama/Nazreth). Algeria - $532.57 billion. He has made a lot of profit in this business in the past few years and his estimated worth at present is $1.8 billion. He was previously a member of the politburo of TPLF and was close to the dictator. In 2011, Capitol Petroleum Group was valued at $800 million, making him one of the wealthiest businessmen in Ethiopia with an estimated net worth of $2.5 billion. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest economy on the African continent behind Algeria. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). Focusing his efforts on employee improvement, good management, and tight credit controls, BKIE soon began to expand to various other sectors. His sibling Naguib . 1. Eric Lefkofsky: He's the founder of Groupon. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. It ranks fourth for private wealth held by individuals. This company went into other sectors of agriculture as well so that it can flourish from all sides. The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. what is the recommended ratio for lifeguard to swimmer in 1976, as a mere youth. on. Many of these men and women have also achieved exceptional success and are deserving of being included in the list of the richest Ethiopians. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. Furthermore, continually looking to grow, Ketema would also begin to manufacture acrylic yarn and blankets, engage in real estate development, and operate a transit and forwarding company. Always one looking for more, Samuel would go on to sign agreements with Marriott International and Hilton Worldwide to develop 3 hotel brands in Ethiopia under his company. One of the factors contributing to . Buzayehu's East African Holdings is made up of several sister or subsidiary companies involved in manufacturing fast moving consumer goods, printing and packaging, agriculture (commercial farming), transport, agro processing, cement production, real estate, coal mining, coffee export, and coffee roasting and packing. Even though Ethiopia is classified as one of the developing countries in the world there are still rich people who are living and enjoying life as the Westerners do. Mohammed Al Amoudi - $8.3 Billion. 1. Mukesh Ambani the chairman and largest shareholder of Reliance Industries, has been the richest Indian for 13 consecutive years. Ethiopian Rich List: Wealthiest Persons In Ethiopia: Mohammed Al Amoudi - $8.45 Billion. Khat is a leafy green plant containing two main stimulants used mainly in North East Africa, the Arabian Peninsula, and expatriate communities from these regions. Buzayehu T. Bizenu is the founder of East African Holding Share Company (EAH S.C.), a huge conglomerate of companies operating in almost all the large business sectors of Ethiopia. He was 57. Mohammed Al Amoudi - $8.3 Billion. Liya Kebede . (Sponsored Content) Published. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. Belayneh Kindie has amassed a fortune through his Belayneh Kindie (BK) Business Group, an Ethiopia-based group initially focused on exporting oil seeds, nuts and other products. financial services group prepares to launch. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets, and like products. As of March 2, 2023, 6:02 PM EST The Bloomberg Billionaires Index is a . Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. Up next with a net worth of $680 million is Kwabena Duffuor. Advertisement. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. Read profiles and interviews, and see all the facts and figures for 2022 Copyright 2023 allaboutETHIO.com All Rights Reserved. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people. A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. From the beautifully designed Bole Road-Wello Sefer overpass to various other projects all over Ethiopia, he and his company have received a multitude of accolades. Ethiopia is home to over 122 million people, per Worldometer. Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. He has also invested in various sectors of business that have made the work simpler for him to gain profits. He is a politician from the ruling party in Ethiopia. Paul Ndungu, a prominent Kenyan businessman and shareholder in Pevans East Africa, the company behind the popular SportPesa betting brand, is auctioning off a residential property located in Nairobi. Amazon founder Jeff Bezos is the richest man in the world, according to the 2019 Forbes billionaires' list released this week. The enterprise was established as an operating holding for subsidiary companies acting in various sectors, such as FMCG manufacturing, agriculture, agro-processing, printing and packaging, transport, real estate, cement production, and coal mining. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. After the death of her husband - Julia Flesher Koch inherited about a 42% stake in his company . Tewodros Ashenafi Tewodros Ashenafi is a famous Entrepreneur, born on August 26, 1969, in Ethiopia. Meles Zenawi - $3 Billion. Below is a list ofthe top 20 richest Ethiopians in 2023. The company has been operating in Ethiopia for over 60 years now and is respected throughout for their competence. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. They're worth a collective $12.7 trillion $400 billion less than in 2021, it says. His company is now worth 12,000,000 USD or 324,000,000 ETB, making him one of Ethiopia's richest people. February 6, 2023. He was also a member of the committee for the Endowment Fund For Relief Of Tigray. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest . 2. Azeb Mesfin. Some of them include Columbia University's Africa Center Advisory Board, Atlantic Council International, New York's East West Institute, Initiative for Global Development, and was the winner of Young Global Leader (World Economic Institute). Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. Top 10 Wealthiest/Richest People In Ethiopia In 2023. As a khat street vendor, her profits were very small until she began to explore the business opportunities in the neighboring country of Somaliland. Ermias would create, develop and fund huge and lucrative businesses such as Royal Crown Mineral Water Factory (Highland water), Access Capital, Access Bank, Access Real Estate, Zemen Bank, and Jano Music Band among others. Since the company is facing competitors the business has decreased making enough profit like before. Tekleberhan Ambaye (Eng) began his rise to greatness in 1993, registering his self-named TACON or Tekleberhan Ambaye Construction Plc., with an initial capital of 5,000 ETB or 185 USD. Bethlehem Tilahun Alemu is an Ethiopian businesswoman and founder and executive director of soleRebels, an international footwear company based in Addis Ababa. Kenya - $269.29 billion. Companies run by Buzayehu include: Bizenu Investments Plc., East African Agri-Business Plc., Cosmar East Africa Business Plc., East African Group (Eth) Plc., East African Tiger Brands Plc., Ethio-Asia Industries Plc., National Cement S.C., East African Coal Mining Corporation Plc., East African Real Estate Development Plc., National Transport Plc., National Premix Construction Plc., Hamaressa Edible Oil S.C., and Distribution Outlets (over 21 located throughout Ethiopia). This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. Aside from his ownership stake in the group, Bizenu control companies such as Bizenu Investments Plc, East African Agri-Business Plc, Cosmar East Africa Business Plc, East African Group (Eth) Plc, East African Tiger Brands Plc, Ethio-Asia Industries Plc, National Cement S.C., East African Coal Mining Corporation Plc, and a host of other companies. 11 . As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. The six-percent stake would make him the latest in a slew of new minority partners that the U.S. soccer franchise has added in recent years. In Ethiopia, Eskinder hasconsultedand managed various huge road and bridge projects that are a source of pride for Ethiopians. Top 10 RICHEST People in Ethiopia 2021 | Rich and Famous TV Subscribe Here: https://bit.ly/3exoQBy. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. Since its founding in 2005, the company has grown into one of the countrys largest exporters of sesame seeds and a leading Ethiopian agricultural commodities trader. In 2020, private wealth in Ethiopia was estimated at $57 billion, $1-billion higher than the figure for Ghana and $33-billion lower than Kenya's $90 billion. Free shipping for many products! The enterprising Eyob buys his gas from refiners and then sells it to the operators of the stations he owns. Seyoum Mesfin - $1.8 Billion. $180 Billion. Orchid Business Group holds government contracts for a variety of highly lucrative endeavors, such as, being involved in the construction of the GERD or Grand Ethiopian Renaissance Dam, the Awash/Kombolcha/Woldiya Railway construction, as well as, many other foundation works and roads. 3. Odd Reitan of Rema 1000 fame and Norgesgruppen's Johan Johannson place third and fourth on the list with assets of NOK 51 billion and 50.5 billion respectively. The closest and most trusted friend of Meles and Azeb. Who is the second richest person in Ethiopia. To add to this immense business portfolio, the Ture family also has a cement factory, a packaging and printing factory, and an aggregate production facility. He would soon feel threatened by his political affiliations and move to the United States in 1992, as a refugee. This billion-dollar deal is Ethiopias largest-ever privatization agreement. Top 10 Richest Men In Uganda 2021 Co-operative Bank Group (Co-op Bank), a Nairobi-based financial services group led by Kenyan banking magnate Gideon Muriuki, has successfully secured a total of $100 million in long-term debt from global institutional investors, with the German fund DEG and the Norwegian fund Norfund at the helm. He was one of the closest to the dictator Meles and his wife Azeb Mesfin. Today, Eyob also called Joe owns and runs the privately owned Capitol Petroleum Group which controls over 41 percent of gas stations in Washington D.C. That is one reason he has made a lot of connections and made a lot of worth to the countrys economy. He is a really trusted apprentice to the dictator and even now he is a partner of Azeb Mesfin in various businesses. As one of the fastest growing economies in the world, Ethiopia is on its way to becoming an important hub for global commerce. Seeing as Co-op Bank is the third-largest bank in Kenya, with 65 percent ownership by local co-operatives, and the largest co-operative bank in Africa, this injection of funds is sure to have a substantial impact. As of June 2022, Nassef Sawiris, with a net worth of 7.3 billion U.S. dollars, is the richest man in Egypt, fourth richest in the African continent, and ranked 292 in the world. 2. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. 1. This financing will aid Co-op Bank in strengthening its capital base, with Norfund participating in the financing through a direct credit line of $16 million and an additional $3.4 million through European Financing Partners. . A billionaire in his own right, Tewodros Ashenafi, one of Ethiopia's richest, is without a doubt, a significant contributor to the current explosive growth of Ethiopia. 7. A significant percentage of the countrys richest individuals are politicians. Tewodros Ashenafi is an Ethiopian entrepreneur and the CEO of SouthWest Energy, an Ethiopian oil and gas exploration and production company based in Addis-Ababa, the capital city of Ethiopia. What is the richest country in Africa? Azeb Mesfin - $4 Billion. Net Worth: Top 25 Famous, Richest Actors In Nigeria In 2023 (Highest-Paid Nigerian Nollywood Actors), Net Worth: Top 20 Richest Footballers In Africa In 2023, Their Names, Ages, Country, Forbes, Cars, Houses, Pictures, Etc, Accurate List: Top 10 Best Rappers In Africa In 2023; Their Names, Countries, and Rank, Net Worth: Top 10 Richest Rappers In Africa In 2023 (Highest-Paid African Rappers By Forbes), Net Worth: Top 10 Youngest Richest Men In Ghana In 2023 That Live Lavish Lifestyles, Ghanaian Fraud Boys: Top 10 Richest Scammers In Ghana In 2023; Their Net Worth, Names, Ages, Pictures, Net Worth: Top 20 Richest Musicians In Ghana In 2023 Most Successful Ghanaian Artists Now. Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. In 2016, Ashenafi played a vital role in one of Africas largest private-sector business transactions. Upon his release, finding his children all grown was difficult yet through hard work he would open up a company named after him (Omer Ali), but would in 1990 change the name to that of his daughters: Nejat International.
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