A Deal that Reshaped a Billionaire’s Empire: How the Sale of Preem Erased $4.5B from Al Amoudi’s Net Worth
ADDIS ABABA – A dramatic plunge in the wealth of Saudi-Ethiopian billionaire Mohammed Al Amoudi, which saw his net worth plummet from approximately $10.5 billion to $5.98 billion around April 4, 2025, can be attributed to a single, monumental event: the sale of Preem, his prized asset and Sweden’s largest oil refiner. The sudden drop, which wiped out over 40% of his fortune in a single stroke, was not the result of a market crash but a strategic divestment that has fundamentally altered the composition of his vast industrial portfolio.
The timing of the sale announcement, with news breaking in early April that Al Amoudi’s Corral Petroleum Holdings AB had agreed to sell Preem to Swiss-based VARO Energy, directly correlates with the precipitous decline. This move to offload his most significant holding triggered an immediate and substantial revaluation of his overall wealth by financial indexes.
The Crown Jewel: What is Preem and Why Was It So Valuable?
To understand how the sale of one company could have such a colossal impact, it’s crucial to appreciate the significance of Preem in Al Amoudi’s empire.
13 thoughts on “A $4.5 Billion Drop Overnight: What’s Behind the Shake-up of Al Amoudi’s Empire?”
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