Miloud Chaabi

Who is Miloud Chaabi?

Miloud Chaabi is a Moroccan businessman and politician with a net worth of $3 billion. He is the founder of Ynna Holding and the owner of the Riad Mogador hotel chain and group of supermarkets "Aswak Assalam" in Morocco. He is known for his strong stance against alcohol which is banned from both his hotel chain and supermarkets. He was affiliated with the Party of Progress and Socialism under which he was elected MP for the city of Essaouira in the parliamentary elections in 2007 in Morocco. His daughter, Asma Chaâbi has been mayor of the city of Essaouira from 2003 to 2009. His son, Mouhssine Chaabi, is a parliamentary delegate within the Environmental and Durable Development political party, alongside his father. He is also the governor of Essaouira after winning the elections in 2011

His fortune is estimated at some 40 billion dirhams and one of the richest men in Morocco.

Chaâbi is also known for his philanthropic and charity work and donated 10% of his fortune to build the first American university in Morocco in conjunction with the University of Maryland, College Park. He is the operator of one of the largest charity organisations in Morocco, the Miloud Chaâbi Foundation.