Ethiopia’s richest man, Mohammed Al Amoudi, has added another $100 million to his fortune, taking his net worth to $10.2 billion, according to the Bloomberg Billionaires Index.

The latest increase comes just 26 days after Al Amoudi’s wealth climbed back above $10 billion. His fortune has now risen by $1.74 billion since the start of the year, extending a strong run for the Ethiopian businessman as the value of his holdings increases.

Al Amoudi’s net worth hits $10.2 billion

From Jan. 1 through July 31, Al Amoudi’s net worth rose by $1.63 billion, from $8.47 billion to $10.1 billion. The increase took his fortune back above the $10 billion mark after it had slipped below that level earlier in the year.

Since July 31, another $100 million has been added to his wealth, bringing his net worth to $10.2 billion. The gain leaves Al Amoudi among the African billionaires whose fortunes have risen sharply in 2026.

Al Amoudi’s business interests span three continents

Much of Al Amoudi’s wealth is tied to his industrial investments in Sweden, Saudi Arabia and Ethiopia. His interests are held largely through MIDROC Investment Group, the private investment company he controls.

In Sweden, Al Amoudi owns Preem, the country’s largest oil refiner, and has a minority stake in Granitor, a Swedish holding company with businesses in infrastructure, construction, and property development.

Ethiopia holdings span key industries

In his home country, Al Amoudi owns an oil company and agricultural businesses focused on coffee and rice. MIDROC has also expanded into Ethiopia’s hospitality sector, adding hotels and related investments as the country seeks to attract more visitors and grow its tourism industry.

The rise in Al Amoudi’s fortune reflects changes in the value of his business holdings. With assets spread across several industries and countries, movements in the value of those investments can have a direct effect on his position among the world’s wealthiest people.