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Ethiopia's Mohammed Al Amoudi World's Richest Black Person

By: Errol Mars

Mohammed Al Amoudi, is Ethiopia's richest man and has been the richest black person in the world for the last two years.

Don't know how I missed this one, but is has come to our attention that we made a mistake in naming the world's richest black person as Aliko Dangote. The world's richest black person is in fact Ethiopian born and now a Saudi citizen, Al Amoudi.

Mr. Al Amoudi made his fortune in construction and real estate before betting on Swedish and Moroccan oil refineries. His Svenska Petroleum conducts oil exploration from the Nordic shelf to the Ivory Coast.

Forbes magazine estimates his net worth at $8 billion dollars, up $1.1 billion from the year before. He is ranked as the 86th richest person in the world. On Forbes' 2006 Billionaire list Mr. Al Amoudi was ranked the 77th richest person with a estimated net worth of $6.9 billion.

Mr. Al Amoudi is said to be the largest foreign investor in Sweden and the largest private investor in Ethiopia, where he has invested more than $1 billion. His ventures include the previously state-owned goldmine, Lege Dembi, and hotels such as the Addis Ababa Sheraton Hotel.

Al Amoudi's father is Yemeni and his mother is Ethiopian. He immigrated to Saudi Arabia in 1965 and became a Saudi citizen.

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