What is Miloud Chaabi's Net Worth?
Miloud Chaabi is a renowned businessman with a net worth of $1.3 billion, making him the richest person in Morocco. Born near Essaouira in western Morocco, Chaabi began his career as a farmer and goat herder in his early teens. With great determination, he saved enough money to move to Kenitra and launched his first construction company, Ynna Holdings, in the late 1940s.
Business Ventures
Ynna Holdings grew from a construction firm into a conglomerate with diverse holdings, including hotels, supermarkets, and renewable energy. Chaabi owns the Riad Mogador hotel chain and the Aswak Assalam supermarket chain, which are staples in the Moroccan market.
Charity and Political Influence
Miloud Chaabi is not only known for his business acumen but also for his charitable efforts. He donated 10% of his wealth to establish Morocco's first American university. Moreover, he runs the Miloud Chaabi Foundation, one of the most prolific charity groups in the country.
In the political arena, Chaabi was elected to the Moroccan House of Representatives in 2002 and represented the city of Al-Suwaira in Parliament in 2007. In 2011, he joined protestors in a march to Parliament, advocating against political and business corruption.
