Photo: Forbes
BOLE POST (Nov. 5, 2017) : King Salman of the Kingdom of Saudi Arabia ordered the detention of 38 former and current ministers, businessmen and Royal officials on charges of corruption, money-laundering and abuse of power. The Ethiopian-born Saudi Billionaire Sheikh Mohammed Hussein Ali Al-Amoudi is among businessmen detained by the newly crowned young Prince. According to Forbes's 2017 List of Black Billionaires, Sheikh Mohammed Hussein Ali Al-Amoudi is ranked second with a net-worth of $8.4 billion. The Sheikh operates a dozen plus companies under a conglomerate named (MIDROC) Mohammed International Development Research and Organization Companies. MIDROC Ethiopia is the largest of MIDROC operations investing in wide array of businesses throughout Ethiopia mainly in the Oromia Regional State. The Sheikh is often accused of sponsoring the repressive regime in Ethiopia.