Before starting his company in Ethiopia, Eskinder had already become a success in Germany. It has the power to change the world.. Abay Tsehaye - $1.5 Billion. The company has more than 3,000 employees. EAH produces over 100 products and provides distribution and logistics services to subsidiary companies and external customers. 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. After 22 years away from his homeland, Ermias would return with his experience in Wall Street's stock exchange and start innovative businesses in Ethiopia. He was also a member of the committee for the Endowment Fund For Relief Of Tigray. 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. The bank first operated in Uganda as the National Bank of India in 1906. 1 / 63. 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. 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. 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. richest nigerian in houston. According to research conducted by Billionaires.Africa, here is a list of some of these wealthy people. With lucrative government contracts and the ability to successfully complete them, his German company reached great heights. The top 10 richest people on the planet have a combined net worth of $1.4 trillion. Akiko through the extensive business dealings of the Orchid Business Group cement her as one of Ethiopia's richest and a billionaire. 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. Expanding legalization has driven an increase in bets on football's big game, with wagers more than doubling from 2021 to 2022. top 100 richest person in ethiopia 2021. by . 91. Meles Zenawi - $3 Billion. Eskinder's obsession with quality has changed the way several construction companies operate in Ethiopia. 1. His company, the Dangote group started as a small trading firm in 1977. 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. 3. 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. Andrew Ndegwa, a Kenyan businessman and executive director of First Chartered Securities Limited, owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. 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. For the 11th year in a row, Alike Dangote of Nigeria is the continent's richest person, worth an estimated $13.9 billion, up from $12.1 billion last year following a 30% increase in the stock . 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. (Sponsored Content) Published. This includes the landmark Marriott Executive Apartments in Addis Ababa. Let us now get into the list of the 20 richest rappers in the world as of 2022 with their net worth details. Ketema Kebede created the self-named KK Plc. 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. who is therichestperson in Ethiopia 2022. Who is the youngest millionaire in Ethiopia? Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. 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: . 2. His primary businesses include cement, sugar and flour. Ketema Kebede created the self named KK Plc. For various reasons, such as political, economic, etc., Ethiopians are spread out as Diaspora all over the globe. In Ethiopia, Eskinder has consulted and managed various huge road and bridge projects that are a source of pride for Ethiopians. Recently, Akiko, along with the Italian Enel Green Power, were to sign a 3,240,000,000 ETB or 120,000,000 USD to develop, operate and build a solar power generation plant in Metehara. Mohammed Hussein Al Amoudi was born in Ethiopia in 1946 to a Hadhrami father and an Ethiopian mother. This land would be supplemented with an additional 1,500 hectares of land by the government of the Southern Nations, Nationalities and Peoples. Since the company is facing competitors the business has decreased making enough profit like before. 15 of the Richest Ethiopians and their Successful Companies in 2021-----. Having ten children, Suhura planned to retire from her business and go on an extended pilgrimage in 2010, but her 4 eldest sons managed to incur losses of up to 1,000,000 Euros in a short period of time. Eyob "Joe" Mamo is without a doubt a billionaire and one of Ethiopia's riches individuals. Seyoum Mesfin - $1.8 Billion. She is the Widow of the late Prime Minister Meles Zenawi, she has ownership interests in many of the biggest companies in Ethiopia. The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Copyright 2023 allaboutETHIO.com All Rights Reserved. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. 2. Heading into 2022, the 10 wealthiest individuals in the world are all worth . The company has been operating in Ethiopia for over 60 years now and is respected throughout for its competence. Taking the position of Prime Minister of Ethiopia from 1995 (until his death in August 2012), Zenawi was hailed as one of Africas strongmen, introducing a multi-party political system, and private press in the country, and reducing child mortality rates. Eric Lefkofsky: He's the founder of Groupon. Berhane Gebrekristos present estimation of net worth is about $2 billion but his real worth previously was even more than this. In Illinois, the richest person remains Ken Griffin, the founder of Chicago hedge fund Citadel. icle family law institute 2021; . Kanye began his career in the music industry as a producer and he even used to write songs for a few famous and popular . Here's whose net worth grew the most. 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. Age: 55 years (as of 2023) Source of wealth: Investments in hospitality, insurance, transportation, oil, gas, and real estate. Recently, it has evolved into a prominent corporate group in the country through BK Business Group. Following the opening of its 22nd location in Hamburgs trendy St. Pauli District, the group is on course to control 500 global soleRebels branded retail stores and generate $1 billion in revenues by 2028. 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 . Thus the production of coffee is a perfect business that Omer Ali Shifaw set up there. By 1988, Al Amoudi's company MIDROC or Mohammed International Development Research and Organization Companies would land a 30,000,000,000 USD or 810,000,000,000 ETB contract to build an underground oil storage complex for Saudi Arabia. Mohammed Al Amoudi - $8.3 Billion. According to the latest 2022 Africa Wealth Report, the total private wealth currently held on the African continent is USD 2.1 trillion and is expected to rise by 38% over the next 10 years. A significant percentage of the countrys richest individuals are politicians. Musk, who is also CEO and chief engineer of SpaceX, plans to send the largest rocket ever built into orbit in 2022. 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. Who is the richest person in the world 2021? booming construction industry in Ethiopia. Michael Prince for Forbes. The total valuation of Australia's 100 richest people aged 40 and under is diminished, but you still need $35 million to get on the list . Mohammed A. Ture established his company in 1954 as Ture Chinese Commodities but was later changed to Ture Plc. According to Wikipedia, he began his career at Ghana Commercial Bank in 1969. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. He would start the ardous climb to success by working various jobs, sometimes three at a time. What is the net worth of Ethiopia? Beginning with only the import of items to satisfy the local demand, Omer would in 1995 expand to engage deeply within the coffee business. According to research conducted by Billionaires.Africa. A significant percentage of the countrys richest individuals are politicians. was soon created in 2008, to strengthen and expand Belayneh's import and export businesses. As of 31 December 2020, the banks assets were valued at Shs8. 3. He's worth $4.5 billion and is the 638th richest person in the world. He was a part of the diplomatic works that were used by the dictator for money laundering. Unfortunately, his family's finances would force him to drop out after three years of higher learning, just short of receiving his degree. Estimated net worth: $10 billion. Source:Oil & Gas, Real Estate and Technology. 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). Sunshine has constructed 1,129.78 kilometers of road projects, as the company operates as a principal highway contractor to the government. Today, this company owns over a hundred. Ndegwa owns 4.3 percent of NCBA Group, making him one of the banks most significant shareholders. Wealth Milestones. Ethiopia - $298.57 billion. With an estimated fortune of $131bn (99bn) he is the . That is one reason he has made a lot of connections and made a lot of worth to the countrys economy. Top 10 Richest People In New Zealand and Their Net Worth 2022. Estimated net worth: $4 billion. Egypt - $394.28 billion. Before becoming the prime minister of his native country, Zenawi was the president of Ethiopia in the nineties (from 1991 to 1995). This company went into other sectors of agriculture as well so that it can flourish from all sides. wink wink, New interactive and fun video sessions with influencers and celebrities every thursday on. She has been named Ethiopian Entrepreneur of the Year several times and her accolades in her industry prove that Suhura Khan is one of Ethiopia's richest people. Forbes places Mohammed Al Amoudis fortune at $8.1 billion as of 2017. In late 2021 his net worth peaked at $137 billion, which made him the third-richest person . He has amassed hundreds of millions of dollars through his political affiliations and his business dealings through TPLF. He was previously in the position of foreign affairs minister where he had a lot of power over trade. 8. Algeria - $532.57 billion. 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. As of 2016, soleRebels shoes were sold in more than 50 countries after it was tagged the Fastest Growing African Shoe Brand in 2014. He is still one of the most influential people in the whole of Ethiopia today. 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 lives in Chicago. He would leave the farm and become a school teacher and a political activist. Follow us too! Ethiopian entrepreneur and leading businesswoman Suhura Ismail Khan is the head of a trading empire from Jijiga, with several thousand employees, dozens of trucks, and her airline, Suhura Airways, a Somalian charter carrier established in 2009. Advertisement. 2. The list of Ethiopia's richest models, actors, musicians, businessmen, politicians, producers, footballers, athletes, Instagram influencers, and entrepreneurs are also the most famous and best-known Ethiopian celebrities both in Ethiopia and internationally. In 2011, her group recorded sales of between 30 and 40 tonnes of khat per day. The company has more than 3,000 employees. Here's how American families, from the poorest to the richest, spend their money +16 16 great furniture designers of the last century inspiring today's design trends 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. Its estimated population is 99,202 people, its 2021 GDP was USD 1.45 billion, and its GNI per capita was 29,800. Ndungu is a prominent Kenyan businessman and shareholder in Pevans East Africa. He has been chairman of Ethiopian Airlines. 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. Eyob Joe Mamo - $2.5 Billion. Elon Musk. Now, let's take a look at the top 10 in more detail. 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. Jimoh Ibrahim is a politician, lawyer, businessman, and philanthropist with a net worth of $1.1 billion. Eskinder Zewdie is a German-educated engineer that has brought his exceptional civil engineering abilities to his homeland. He was close to Meles but was later kicked out of both organisations. At one point, he was considered even more powerful than the late Meles Zenawi, the one-time prime minister. : 1, 3 In their 2017 list that ranked Canada's top 100 richest people, Toronto-based Rob McEwen of McEwen Mining, . Meles Zenawi is the former Prime Minister of Ethiopia. Despite ranking only 29th in Africa by living standards and economic wealth, Ethiopia is a land of riches for thousands. There were a record 2,755 billionaires in Forbes' 2021 list of the world's wealthiest people660 more than a year ago. Here is a list of the billionaires and millionaires in Ethiopia in 2023. He was also the chairman of the Tigrayan Peoples Liberation Front (TPLF) and the head of the Ethiopian Peoples Revolutionary Democratic Front (EPRDF) during the eighties. Africa is the second largest continent in the world in terms of land area and population. 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. The enterprising Samuel would land a job as a construction worker upon completing high school and go on to study engineering at Addis Ababa University. Furthermore, Akiko's OBG also engages in construction machinery rental, spas, gyms, and logistical works. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. He also owns a 17-percent stake in Crunchfish AB, a Swedish technology company that develops gesture recognition. . Source: Oil & Gas, Real Estate and Technology. 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. 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. He is extremely influential in the country. He also explained the requirements for the special resolution to pass, stating that it must receive the support of shareholders holding a minimum combined stake of 75 percent. Young Rich List wealth takes $11b hit after tech plunge. 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. The following are Ethiopia's top 20 companies and tax payers for the budget year ending in July 2020: (the amounts are approximate). 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. Nega was in charge of the TPLF business empire under the conglomerate Endowment Fund for the Rehabilitation of Tigray. By 2011, Eyob's company was valued at about 788,000,000 USD or 21,000,000,000 ETB. 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. Algeria . As his company grew, Ketema expanded to trading with neighboring countries and KK Plc. By 2006, Belayneh entered the transport business by establishing the BKPT or Belayneh Kindie Private Transport, with six 40 ton carrying trucks. Omer Ali Shifaw began in the spice business but would leave that to open his own company with a paid up capital of 5,000 ETB or 185 USD. Samuel Tafesse - $1.6 Billion. 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. The Weeknd - $200 Million. 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. His net worth climbed to $16 billion in 2021, according to Forbes, up from $12.1 billion in 2020 . 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. Select Page. Beginning his career with Merril Lynch & Co. in New York, Tewodros would go on to be a consultant for large multinational corporations looking to invest primarily in South America and the Commonwealth of Independent States. 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. financial services group prepares to launch. 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. Mamo, who tries to keep a low profile, is regarded as the king of the D.C. gas business. This company would be supplemented with SouthWest Development which gives services to companies engaged in the oil and gas industry in Ethiopia. Catch New Video Here: https://bit.ly/2ZxWEKL Eyob Joe Mamo - $2.5 Billion. The result is uniquely original footwear driven by an ethos of ethical production, sustainable materials and maximum comfort. Top 10 Richest African Countries by Overall GDP (INT$ at PPP International Monetary Fund 2021) Egypt - $1.38 trillion. Liya Kebede . 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. Following a brain tumor operation in Brussels, Zenawi died from contracting an infection in August 2012. In 2011, Capitol Petroleum Group was valued at $800 million, making him one of the wealthiest businessmen in Ethiopia. Despite ranking only 29th in Africa by economic wealth, Ethiopia is a land of riches for thousands. The world's 10 richest people added $402 billion to their fortunes in 2021. 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). Pevans East Africa, the holding company for SportPesa, began distributing dividends to its shareholders in 2015, with a total payout of Ksh1.57 billion ($23.46 million). Nov 21, 2022. 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. 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. Following the opening of its 22nd location in Hamburgs trendy St. Pauli District, the group is on course to control 500 global soleRebels branded retail stores and generate $1 billion in revenues by 2028. 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 . It is also one of the world's fastest-growing economies. 1. 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. Ethiopia has only one billionaire, 150 multimillionaires and 3,200 ultra-high net-worth individuals. Source: Conglomerate Investment through EAH. In the beginning, Ketema Kebede would be engaged in the trade of blankets, sweaters, carpets and like products. 9. All Rights Reserved. He is known for having built a multibillion-dollar business empire in Ethiopia over the 27 years that the group was in power. Now that you know what's the richest country in Africa, you can invest in them to grow your wealth and improve their GDP. The privately-owned company founded in Minnesota now has more than 300 trucks and vans and transports about 15,000 people a day. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. Al-Amoudis fortune is derived mainly from closely held companies in Sweden, Saudi Arabia, and Ethiopia. In 2016, his net worth was estimated by Forbes at approximately $10.9 billion and a relative fall in net value was linked to the global fall in oil and gold prices at the time of estimation.He was also listed as Ethiopia's richest man, the second richest . 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. 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. His company TACON was also the first Ethiopian construction company to qualify for the International Standardization Organization ISO. He was listed on Forbes as the 67th richest man in Africa and the 183rd in the world. 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. A tireless and true businessman, Al Amoudi would also venture into banking, agriculture, cement production, among a dozen other interests. After completing his education, Duffuor made the highly lucrative move into banking. June 6, 2022 . Musk might hold the current title of the richest person in the world, but he also holds a record for the biggest fortune ever lost by anyone in history. February 6, 2023. Nega was in charge of the TPLF business empire under the conglomerate Endowment Fund for the Rehabilitation of Tigray. Ketema would begin to import and sell goods, export agricultural products, and distribute locally produced goods throughout Ethiopia. He had a net worth of around 12 billion U.S. dollars and ranked 144th worldwide. Xu Rongmao & family. By 1998, Omer's Nejat International had sales valuing at 198,000,000 ETB or 7,400,000 USD and owned the largest warehouse in Ethiopia with all the latest machineries. Sebhat Nega is considered a magnate within the Tigray Peoples Liberation Front (TPLF). The Ethiopian magnate and real estate developer has tendered a bid to buy a minority stake in D.C. United. Working closely with the Chinese, he has been praised for not letting any shoddy construction works pass. Angola - $217.97 billion. (Reuters) Larry . Top 20 Richest People In Pakistan and Their Net Worth 2022. Tufaa left Ethiopia for the United States in 1992 and ultimately opened a U.S.-based transportation outfit. They have such an amount of money because of connections with the countrys politics and a stable business that takes the supplies from the country and sends them to other places. His power in the Ethiopian cabinet along with the airlines helped him smuggle a lot of drugs within Africa and Asia. Ashenafi is a co-owner of Ambo Mineral Water, the best-selling naturally-carbonated bottled mineral water in Ethiopia, and the beverage giant SABMiller. Akiko's deal with the EEP or Ethiopian Electric Power would make her the first Ethiopian to build a privately owned and operated solar plant in the country. He had a net worth of $3 billion, according to Celebrity Net Worth. Through its explosive growth, KK Plc would be transformed into a corporate entity in 1992. Samuel Tafesse - $1.6 Billion. By 2008, Suhura would pay 37,000,000 USD or 999,000,000 ETB in taxes to the Ethiopian government. Stanbic Bank is the largest commercial bank in Uganda with assets more than UGX 5.4 trillion. on. He is presently the Ethiopian ambassador to China. His company Dangote Group is currently on an expansion drive to many other African countries. The IIFL Wealth Hurun India Rich List has revealed the top 100 wealthiest people in the country. Furthermore, Akikos OBG also engages in construction machinery rental, spas, gyms, and logistical work. Elon Musk, with a fortune of $266 billion, is the richest person on the planet. Richest African Countries by GDP. Belayneh Kindie began his journey to wealth by starting his company Belayneh Kindie Import and Export (BKIE), in 2005 with the startup capital of only 111,000 USD or 3,000,000 ETB. 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. Focusing his efforts on employee improvement, good management, and tight credit controls, BKIE soon began to expand to various other sectors. 2023 Billionaires.Africa. 1. 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. Date of birth: 24th February 1967. Meanwhile, the local economy has a GDP of $108 billion, making it the sixth-largest . With annual revenue of more than $100 million, Ethio Biography places his net worth at $1.6 billion. Eskinder Zewdie is a German educated engineer that has brought his exceptional civil engineering abilities to his homeland. Since its founding in 1983, Sunshine Investment Group has built 3,254 apartments and 427 villas in Ethiopia.