Friday, May 24, 2024

Ethiopias’s Billionaire Elite: Unveiling the Top 10 Wealthiest Moguls in 2024

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Nyongesa Sande
Nyongesa Sande
Nyongesa Sande is a Kenyan blogger, Pan Africanist,c olumnist Political Activist , blogger, informer & businesman who has interest in politics, governance, corporate fraud, human rights and television personality.

Ethiopia, known for its rich cultural heritage, is also home to some of the wealthiest individuals in Africa. These moguls have diversified their investments across various sectors including oil, mining, agriculture, and real estate, significantly contributing to the nation’s economic development. Here’s a look at the top 10 richest Ethiopians in 2024, highlighting their estimated net worth and key industries.

RankNameTotal Net WorthAgeRegionSource of WealthIndustry
1Mohammed Al Amoudi$10.9 billion77Addis AbabaDiversifiedOil, Mining, Agriculture, Real Estate
2Belayneh Kindie$2.7 billionAddis AbabaDiversifiedReal Estate, Manufacturing, Agriculture
3Tewodros Ashenafi$1.5 billion54Addis AbabaEnergyRenewable Energy Projects
4Samuel Tafesse$1.3 billion63Addis AbabaConstruction, Real EstateConstruction, Hospitality
5Akiko Seyoum Ambaye$1.2 billionAddis AbabaConstruction, LogisticsInfrastructure, Logistics
6Bisrat Amare$1 billionAddis AbabaDiversifiedReal Estate, Manufacturing, Media
7Ermias Amelga$800 millionAddis AbabaDiversifiedReal Estate, Telecommunications, Hospitality
8Omer Ali Shifaw$800 millionAddis AbabaFood RetailingCoffee, Food Retailing
9Abinet Gebremeskel$600 millionAddis AbabaManufacturingManufacturing, Real Estate
10Mulugeta Tesfakiros$500 millionAddis AbabaConstructionConstruction, Real Estate

These individuals have not only achieved great financial success but also played pivotal roles in propelling Ethiopia’s growth through strategic investments and philanthropic efforts. They continue to shape the economic landscape of Ethiopia, serving as key players in its journey towards economic development and innovation.

The wealth ranking by Bizmart Africa is derived from assessing the value of assets, including cash, private and public holdings, deducting any liabilities. The list prioritizes individuals over extended family wealth, incorporating assets owned by the wealth originator’s immediate family if they are integral to the wealth’s establishment. Asset evaluation encompasses tangible and digital properties. However, in cases where financial information is not disclosed or accessible, the estimated wealth may be adjusted to account for the potential discrepancies.

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