Miloud Chaabi, Moroccan businessman, Died at 86


Miloud Chaabi was born on September 15, 1930, and died on April 16, 2016.

He was a Moroccan businessman and politician.

He had a net worth of $4.5 billion.

Miloud Chaabi was the founder of Ynna Holding and the owner of the Riad Mogador hotel chain and group of supermarkets “Aswak Assalam” in Morocco.

Chaabi was known for his tough influences against alcohol which is banned from both his hotel chain and supermarkets.

Miloud Chaabi 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.

He had a Daughter, who was Asma Chaâbi, mayor of the city of Essaouira from 2003 to 2009.

And his son, Mohcine, was a parliamentary delegate within the Environmental and Durable Development political party, alongside his father.

In 2011, Miloud Chaabi was also the parliamentary representative of Essaouira after winning the elections.

He was 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.

Miloud Chaabi was the operator of one of the largest charity organizations in Morocco, the Miloud Chaâbi Foundation.

Miloud Chaabi passed away at 86 yrs old.