TOP 5 RICHEST MEN IN MOROCCO

Paul | November 25, 2023 | Finance, Morocco | No Comments

Morocco, a vibrant and culturally rich country in North Africa, is home to some of the wealthiest and most influential individuals in the region. These men have amassed significant wealth through diverse business ventures ranging from real estate and agriculture to finance and telecommunications. Here, we introduce the top 5 richest men in Morocco, highlighting their key achievements and contributions to the country’s economy.

1. King Mohammed VI of Morocco

King Mohammed VI is the wealthiest person in Morocco. As the monarch, he controls significant portions of the nation’s economy through the royal family’s holding company, SNI (Société Nationale d’Investissement). SNI has stakes in various sectors, including mining, banking, insurance, telecommunications, and agriculture. The King’s personal wealth is also bolstered by extensive land holdings and agricultural investments, making him a pivotal figure in Morocco’s economic landscape.

King Mohammed VI is the king of Morocco, having ascended to the throne in July 1999 upon the passing of his father, King Hassan II. King Mohammed VI’s net worth is $6 billion.

2. Othman Benjelloun

Othman Benjelloun is a Moroccan businessman who has a net worth of $2.4 billion. Othman Benjelloun was born to a family that owned a large portion of Moroccan insurance company. Othman took over the firm in 1988.

Othman Benjelloun is the CEO of BMCE Bank of Africa, one of the largest banks in Morocco. He also holds interests in the insurance sector through his company RMA Watanya. Benjelloun’s strategic investments in the financial sector have solidified his status as one of Morocco’s wealthiest individuals.

3. Aziz Akhannouch

Aziz Akhannouch is a Moroccan businessman who shares a net worth of $1.7 billion with his family. Aziz Akhannouch made it to billionaire ranks earlier this year thanks to his stake in Akwa Group, a multi-billion-dollar Moroccan conglomerate headquartered in Casablanca.

Aziz Akhannouch is the CEO of Akwa Group, a Moroccan conglomerate with interests in petroleum, gas, and chemicals. Akhannouch is also a significant figure in Moroccan politics, serving as the Minister of Agriculture. His diversified investments and political influence make him a prominent figure in Morocco’s economic landscape.

4. Miloud Chaabi

Miloud Chaabi was a businessman who has a net worth is $1.3 billion. Born near Essaouira in the western part of Morocco, Miloud Chaabi began working as a farmer and goat herder while in his early teens.

Miloud Chaabi, founder of Ynna Holding, has made his fortune through real estate development and the retail industry. Although he passed away in 2016, his family’s continued success in managing Ynna Holding keeps his legacy and wealth alive, maintaining their position among Morocco’s richest.

5. Anas Sefrioui

Moroccan entrepreneur who has a net worth of $1.1 billion. Anas Sefrioui founded Groupe Addoha back in 1988, but he made a big break ten years later after he got a contract to build a chunk of government-subsidized housing under the patronage of Morocco’s late King Hassan II.

Anas Sefrioui is the founder and CEO of Addoha Group, a leading real estate development company in Morocco. Sefrioui has been instrumental in addressing the housing needs of Morocco’s growing urban population through large-scale residential projects. His success in real estate has earned him a place among the nation’s richest.