The world’s richest Arabs
Sun 15 Dec 2013 04:47 AM
Miloud Chaabi
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Miloud Chaabi

Country: Morocco

Wealth: 2.1 Billion

84-year-old Miloud Chaâbi is Morocco’s richest man, beating out the likes of Othman Benjelloun and Anas Sefrioui to take the top spot. He is the founder of Ynna Holding and the owner of Ryad Mogador hotel chain and group of supermarkets Aswak Assalam. He might be one of Morocco’s wealthiest businessmen today but Chaâbi’s career started in very modest surroundings. At just 15 years old he taught in a mosque and worked as a goat herder before saving up enough money to move to Kenitra where he started his first construction company. Chaâbi established his own ceramic company in 1964 and started to look for investment opportunities. He acquired the Yeyeena Group, which became one of the most powerful groups in Morocco.

Chaâbi is renowned for his philanthropic and charity work. He is the operator of one of the largest charity organisations in Morocco, the Miloud Chaâbi Foundation, and donated ten percent of his fortune to build the first American university in Morocco in conjunction with the University of Maryland.