top 100 richest person in ethiopia 2021 top 100 richest person in ethiopia 2021

The group has grown into one of the countrys largest employers, employing more than 6,000 permanent and temporary personnel. We could have simply put together a list of New Jersey's wealthiest people, but NJBIZ . 1960: Pete Seeger at Bowdoin College in Brunswick, Maine . Eskinder Zewdie is a German educated engineer that has brought his exceptional civil engineering abilities to his homeland. 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. This business guru holds a net worth of $12.5 Billion. New interactive and fun video sessions with influencers and celebrities every thursday on thedistin Youtube Channel every week and more now scroll down to watch cat videos, Thank me later! Xu Rongmao & family. Ermias Amelga was born in Addis Ababa but would move to Egypt and later to Kenya but would be returned to Addis Ababa to study secondary school and university. This billion-dollar deal is Ethiopias largest-ever privatization agreement. She is the widow of the late dictator Meles. The highest and the lowest net worth. now scroll down to watch cat videos, Thank me later! In 2011, her group recorded sales between 30 and 40 tonnes of khat per day. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. Morocco - $302.77 billion. The billionaire owns Svenska Petroleum, Midroc Europe (a construction and property group), and Preem (his most valuable asset) through the wholly-owned Petroswede AB. He lives in Chicago. Before starting his company in Ethiopia, Eskinder had already become a success in Germany. Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. Top 10 Wealthiest/Richest People In Ethiopia In 2023. It's when a person is young and chock full of new emotions that they connect the most intensely with certain songs or performers, after all. This includes the landmark Marriott Executive Apartments in Addis Ababa. His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . Tekleberhan has also opened up Edna Mall, housing a modern movie theater, and one of only two countries in Africa that receive Hollywood movies directly upon their release. The market value of Muriukis two-percent stake in Co-op Bank is now worth Ksh1.48 billion ($11.7 million). It has the power to change the world.. In late 2021 his net worth peaked at $137 billion, which made him the third-richest person . Forbes places Mohammed Al Amoudis fortune at $8.1 billion as of 2017. 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. Add to this innovativeness and the ability to make something from nothing, and you have the recipe that makes the following list of the richest Ethiopians. $113 . For various reasons, such as political, economic, etc., Ethiopians are spread out as Diaspora all over the globe. Kanye West has made it to the top of the list this year by beating Jay-Z. Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. Berhane Gebrekristos present estimation of net worth is about $2 billion but his real worth previously was even more than this. Despiterankingonly 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. Eric Lefkofsky: He's the founder of Groupon. 1. wink wink, New interactive and fun video sessions with influencers and celebrities every thursday on. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. With a degree in economics from Columbia University as well as an alumnus of the world renowned Harvard Business School, Tewodros well versed in the ways of international business would bring his knowledge to Ethiopia, after holding prominent positions in the west. Expanding further by looking to the booming construction industry in Ethiopia, Belayneh acquired 10 dump trucks, 4 bulldozers, 3 excavators, 2 graders, 3 mixers and a crusher which he rents out. The four-bedroom, double-story house in Gigiri is being sold through Garam Auctioneers, a well-established Kenyan auction house with more than 28 years of experience in the retail industry. ALIKO DANGOTE - NW: $21.6 BILLION. Ndegwas stake in NCBA has dropped by Ksh219.82 million ($2.39 million) as a result of the recent decline in the banks share price, from Ksh2.82 billion ($22.85 million) at the start of the year to Ksh2.6 billion ($20.46 million) at the time of writing this report. The 63-year-old real estate mogul is the founder of Sunshine Investment Group, a construction and real estate development company that develops residential, leisure, and commercial properties in Ethiopia and the Middle East. The $161 million bump in his wealth figures can be attributed to the strong performance of his industrial assets in Ethiopia, Saudi Arabia, and Sweden, which continues to track the performance of publicly . He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. Over 80% of the people in Somaliland are avid chewers of khat, but due to the harsh climate in the region, the cultivation of khat is not possible, leaving them dependent on Ethiopian khat. Samuel Tafesse - $1.6 Billion. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. Aliko Dangote: The first on the list is Aliko Dangote. Bernard Arnault, the chairperson and chief executive of the French luxury conglomerate LVMH Mot Hennessy Louis Vuitton, is now the world's richest person.Bernard Arnault pipped Jeff Bezos after the Amazon founder's net worth fell $13.9 billion in a day. Jamel Toppin . Stanbic Bank is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. The company has been operating in Ethiopia for over 60 years now and is respected throughout for their competence. Fv 27, 2023 . However, she returned to manage her business after the group incurred losses up to 1 million within a short period. The company he registered, Sunshine Construction Limited, would one day grow to become the behemoth of construction it is today in Ethiopia. As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. He's worth $4.3 billion and is the 665th richest person in the world. Africa is the second largest continent in the world in terms of land area and population. The California based technology entrepreneur is the Board member and co-founder of . View profiles for each of the world's 500 richest people, see the biggest movers, and compare fortunes or track returns. Nega was one of the most powerful men in Ethiopia. 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. Meles Zenawi - $3 Billion. The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. Ethiopian Rich List: Wealthiest Persons In Ethiopia: Mohammed Al Amoudi - $8.45 Billion. 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. Through this substantial amount of funding, Co-op Bank is poised to provide much-needed support to micro, small, and medium enterprises (MSMEs) while simultaneously positioning the bank for future growth. Samuel Tafesse embodies the rags to riches story, as he has grown his company to be one of the largest construction companies in Ethiopia. He is the leading name behind Nejat International which is involved in supplying high-grade coffee to other countries around the world. The company eventually ceased operations in 2019 due to a government crackdown over alleged tax evasion and concerns about gambling addiction. In 2010, she retired from the group, leaving her empire to be managed by her sons. 2 weeks ago. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. This billion-dollar deal is Ethiopias largest-ever privatization agreement. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. 1. 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. Kanye West. There were a record 2,755 billionaires in Forbes' 2021 list of the world's wealthiest people660 more than a year ago. 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. The Ethiopian men and women who have spearheaded the country's phenomenal growth stem from various backgrounds, ethnicities, and religions. Ketema Kebede created the self named KK Plc. 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. Here is a list of the billionaires and millionaires in Ethiopia in 2023. 2021 Power 100; 2020 Power 100; 2019 Power 100; 2018 Power 100; 2017 Power 100; Leads & Data Center. He lives in Glencoe. Advertisement. 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. Furthermore, Zenawi received praise for his work towards a stable relationship with the African Union, playing an important role in improving the continents position on climate change. 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. Mohammed Hussein Ali Al Amoudi is an Ethiopian-Saudi billionaire businessman, who owns and controls many big industrial assets in Sweden, Saudi Arabia, and Ethiopia.He was born in Ethiopia, in 1946, to a Saudi father and an Ethiopian mother. Furthermore, a deal with Globelq to create a solar park with 100MW is being negotiated. Seyoum Mesfin - $1.8 Billion. Barack Obama said that Zenawi deserves recognition for his lifelong contribution to Ethiopias development, particularly to the poor. Eyob Mamo left for the United States in 1981 as a young boy. booming construction industry in Ethiopia. He is the richest drug lord in Africa with a long criminal history of selling illegal drugs. As of November 2022, Aliko Dangote was the richest man in Africa. 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. He was one of the closest to the dictator Meles and his wife Azeb Mesfin. Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. That is one reason he has made a lot of connections and made a lot of worth to the countrys economy. 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 . According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people. 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. Despite ranking only 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. The recent move of Co-operative Bank Group to secure a total of $100 million in long-term debt from global institutional investors comes three months after the Kenyan financial services group reported a staggering profit of Ksh17 billion ($140 billion) at the end of the first nine months of its 2022 fiscal year. Ethiopia's First and Largest Blog Network. He serves as chairman of SouthWest Development, a leading player in Ethiopias oil and gas sector and the provider of various services to oil and gas companies. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. Buzuayehu Bizenu is the founder and chairman of East African Holding (EAH), a leading industrial conglomerate in Ethiopia. This is a 120 kilometre (75 mile) strip of land which lies between the . According to data tracked by Billionaires.Africa, the Kenyan businessmans stake in NCBA has lost Ksh219.82 million ($2.39 million) in market value since the beginning of the year, owing to renewed selling pressure on the local bourse. Whitney MacMillan (conceived September 25, 1929) is a beneficiary to the Cargill-MacMillan fortune and filled in as the CEO of Cargill, America's most significant privately owned business. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. It made her the top 10 richest people and the #1 richest woman in the world. The company today employs over 2,500 people with a dozen projects with contract values in the range of 5,000,000,000 ETB or 186,000,000 USD. Tashitaa Tufaa, the founder of the Metropolitan Transportation Network, is one of Ethiopias wealthiest businessmen. 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. 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. Samuel Tafesse - $1.6 Billion. After completing his education, Duffuor made the highly lucrative move into banking. When thinking about the richest people in Ethiopia, the name Ali Al Amoudi will always come up in the minds of almost all Ethiopians. Following a brain tumor operation in Brussels, Zenawi died from contracting an infection in August 2012. 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. Catch New Video Here: https://bit.ly/2ZxWEKL Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia and Ethiopia. . Aside from founding Sunshine Investment Group, Tafesse has played a seminal role in developing Ethiopias construction sector. 1 / 63. 3. The data and graphics were last updated on November 8th, 2021. His company is now worth 12,000,000 USD or 324,000,000 ETB, making him one of Ethiopia's richest people. He is a really trusted apprentice to the dictator and even now he is a partner of Azeb Mesfin in various businesses. Not only one of Ethiopia's richest and a billionaire, but Samuel is also a role model representing what hard work and honesty can bring into one's life. Today, Tashitaa has over 300 trucks and vans, and transports about 15,000 people a day. Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. Wealth Milestones. 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. 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. The Kenyan banking firm, which has 109 branches in Kenya, Uganda, Tanzania, Rwanda, and the Ivory Coast, was formed in 2019 by the merger of NIC Bank Group and Commercial Bank of Africa Group. However, the companys payouts decreased in the following years, with Ksh290.3 million ($2.5 million), Ksh876.5 million ($7.51 million), and Ksh559.9 million ($4.8 million) paid out in 2017, 2018, and 2019, respectively. While people on more modest incomes have also seen their assets rise in value during the pandemic, Oxfam said the 10 richest men own six times as much wealth as the bottom 40% (3.1 billion people). Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. As a local partner in Ethiopia for Japan Tobacco International, he closed a $1.4-billiondeal to acquire a 40-percent interest in Ethiopias National Tobacco Enterprise. 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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. With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion. He was a part of the diplomatic works that were used by the dictator for money laundering. Its milestones over the past 34 years have enabled it to build a reliable capacity and exhibit practical excellence in the construction sector. Let us now get into the list of the 20 richest rappers in the world as of 2022 with their net worth details. The Weeknd - $200 Million. Following the line of work her parents were in, Suhura upon growing older began her own small business khat dealership. 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. Patrice Motsepes TymeBank partners with The Foschini Group, eyes 26 million South African customers, Runa Alams DPI closes African Development Partners III Fund at $900 million, exceeding $800-million benchmark, Adidas faces $10-million loss as Beyonces Ivy Park fails to meet expectations. 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. Being the eldest sibling, Samuel took a job as a parking attendant at the Addis Ababa Stadium, where he would use the opportunity to sell soft drinks, chewing gum, and cigarettes. Primarily engaged in the export of oil seeds and other similar products, BKIE rose to become the Ethiopia's largest exporters of sesame seeds by 2010. 8. coffee export, and coffee roasting and packing. Eyob "Joe" Mamo is without a doubt a billionaire and one of Ethiopia's riches individuals. 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. He has also launched other businesses and philanthropic entities under Sunshine Investment Group. Upon coming of age, Al Amoudi would travel to the Kingdom of Saudi Arabia and become a citizen of the country. Here's whose net worth grew the most. As of March 2, 2023, 6:02 PM EST The Bloomberg Billionaires Index is a . Samuel Tafesse was born to a low income family and was forced to work as a youth of only 14 years old to support his family. Top 10 Richest People in the World. After 22 years away from his homeland, Ermias would return with his experience in Wall Streets stock exchange and start innovative businesses in Ethiopia. Ethiopia is home to over 122 million people, per Worldometer. The closest and most trusted friend of Meles and Azeb. His company Dangote Group is currently on an expansion drive to many other African countries. According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. The Ture business empire is engaged in the import and distribution of hardware, machinery, and construction materials, including the installation of small and large-scale factories. He was listed on Forbes as the 67th richest man in Africa and the 183rd in the world. She is the Widow of the late Prime Minister Meles Zenawi, she has ownership interests in many of the biggest companies in Ethiopia. As of 31 December 2020, the banks assets were valued at Shs8. 10. 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. Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. Search by Location. Alemu founded soleRebels as a way to blend her Ethiopian communitys creative artisan talents with the traditional barabasso (Ethiopian recycled tire) shoe. It ranks fourth for private wealth held by individuals. Source: Oil & Gas, Real Estate and Technology. Follow us too! Age: 55 years (as of 2023) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate. Now, let's take a look at the top 10 in more detail. 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. 100+ Richest People In The World [RANKED] Net Worth & Eanrings Background & Bio's How They Made Their Fortunes Top Billionaires Fun Facts Pics More . Nov 21, 2022. Africa covers a land mass of over 3 million square kilometres (11.7 square miles), which includes independent island states.. Africa is separated from Europe by the Mediterranean Sea and joined with Asia by the Isthmus of Suez. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. Amidst a legal dispute with fellow shareholders in Pevans East Africa, Ndungu and another shareholder, Asenath Wachera Maina, were removed from their positions in Pevans East Africa following a special resolution. 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. In Ethiopia, Eskinder hasconsultedand managed various huge road and bridge projects that are a source of pride for Ethiopians. 9. 11 . He was also a member of the committee for the Endowment Fund For Relief Of Tigray. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials, and maximum comfort.