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| Description: Net Worth: $2.3 BILLION Industry: Diversified Country of Citizenship: Morocco Age: 85 Number of Jobs Created: 19,480 The Moroccan businessman, Miloud Chaabi, saw his fortune dip slightly by $200 million from last year. Chaabi started a construction business at the age of 15, building low-cost houses for Morocco’s middle class. By age 30, he diversified into ceramics and then ploughed the profits from the businesses into numerous other Moroccan companies. Chaabi sits atop YNNA Holding, Morocco’s oldest private conglomerate with interests that span the construction, distribution, food, real estate, and steel production sectors of the economy. His group also owns the Ryad Mogador chain of discount hotels as well as retail giant, Aswak Assalam. Miloud’s life is a true rags-to-riches story. From humble beginnings as a goat herder, Miloud now invests in interests across all the major sectors of the Moroccan economy. His humble beginnings led him to establish one of Morocco’s largest foundations, the Miloud Chaabi Foundation, which supports education, cancer research and treatment, and other health related causes. |
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