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Ethiopia born Mohammed Al Amoudi drops to 159th in the latest Forbes list of the world’s richest people. Forbes estimates Al Amoudi’s wealth at $8.1 Billion, nearly half of his net worth in 2014 when his net worth was estimated at an all-time high of $15.3 Billion.
A son of a Saudi father and an Ethiopian mother, Al Amoudi has accumulated a portfolio of construction, agriculture, and energy companies across Sweden, Saudi Arabia and Ethiopia. He made his initial fortune in construction in Saudi Arabia. One of his most valuable assets is oil refiner Preem, which bills itself as the largest fuel company in Sweden. In Ethiopia he has invested in agriculture, cement production and gold mining. His firm Saudi Star Agricultural Development has cultivated thousands of acres of land for fruits, vegetables, cereals, coffee, tea, flowers and rice fields for customers in Ethiopia and abroad.
According to Forbes, the number of billionaires jumped 13% to 2,043 from 1,810 last year. Among the top 10 richest people in the world, 8 out of 10 are Americans.