Richest Black Man in the World

Who is the richest black man in the world? As we discovered earlier this week in our list of the richest black people on the planet, Mohammed Al-Amoudi is currently the richest black man alive with a net worth of $12.5 billion. Sheikh Mohammed Al-Amoudi took the top spot from long-time #1 Aliko Dangote whose net worth has slipped recently due to a weak Nigerian stock market.

So how did Mohammed become the richest black man in the world? Through a lot of hard work and very smart investments. Mohammed Al-Amoudi mother was born to an Ethiopian mother and a Yemeni father. Al-Amoudi eventually moved to Saudi Arabia where he made his first fortune in construction and real estate. In the 1980s Mohammed made very wise investments in the oil and mining industries back home in Ethiopia and across the world in countries like Sweden and Morocco. He would go on to expand his portfolio of companies into finance, hotels, hospitals and more. Mohammed employs over 40,000 people through his two primary corporations, Corral Petroleum Holdings and Mohammed International Development Research and Organization Companies (MIDROC). MIDROC is the largest gold mining operation in Ethiopia, producing 4 tons of gold each year, more than any other company. Corral Petroleum Holdings controls over 70% of Ethiopia's oil output as well as refineries in Morocco and Sweden. Al-Amoudi is the largest foreign investor in both Morocco and Sweden. More recently he has launched a new endeavor to build the first car factory in Saudi Arabia.

Mohammed Al-Amoudi owns homes around the world but spends most of his time in London and Saudi Arabia. He is know as a generous supporter of many charitable causes that fight breast cancer and AIDs in Africa. Al-Amoudi is married to Sofia Saleh Al-Amoudi. The couple has seven daughters and one son. In 2011, Mohammed overtook Aliko Dangote to become the richest black man in the world. Dangote had held the title for more than a decade but his company's slumping stock price allowed Al-Amoudi to take the top spot.

Mohammed Al-Amoudi Net Worth

Brian Warner

Prior to launching Celebrity Net Worth, Brian spent seven years as the Managing Editor of one of the largest entertainment portals on the internet. Before that, Brian attended Georgetown University where he double majored in finance and marketing. A native of Northern California, Brian currently resides in Los Angeles. Follow him on Google+.