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.
Nadhmi Auchi is a British Iraqi businessman, who moved to the UK in the 1980s, an d is chairman of the Anglo-Arab Organisation with stakes in construction and trading companies in Iraq. Auchi founded Luxembourg-based General Mediterranean Holdings, which has business segments in banking and finance, real estate, construction, hotel and leisure, industrial, trading and pharmaceuticals, communications, IT and aviation.
Its interests today span across the Mediterranean and beyond with over 120 companies employing some 11,000 staff with representation in the Middle East, Northern Africa, Europe, the Americas, the Caribbean, the Asia subcontinent and the Pacific Rim. The group’s consolidated assets now exceed $4bn. Hotel holdings include Le Royal in Luxembourg, Amman, Beirut, Tangier and Tunis. He has been honoured for his services to the business community by the Queen, and Pope John Paul II, among others.