Miloud Chaabi & family’s profile picture

Miloud Chaabi & family

Miloud Chaabi & family’s profile picture
Net worth 2018: $1.3 Billion
Industry: Real Estate
Country: Morocco
BirthDay: 15 September 1930
Sigh: Libra
Died On: 16/04/2016
Children: 6
BIOGRAPHY

Miloud Chaabi & family was bornon 15 September 1930 in Morocco. Miloud Chaabi's Ynna Holding develops real estate, operates hotels and supermarkets, and is the majority owner of SNEP, a chemical manufacturer in Morocco. In 2014 his son Omar denied published rumors that the group was hard hit by a real estate slump, citing its diversified businesses; he didn't disclose revenues. However, Chaabi is no longer a billionaire due to lower multiples for comparable publicly-traded companies. A French cement company reportedly sued Ynna for alleged breach of contract, and in 2011 a Swiss arbitration court ruled in the French company's favor; recently, so did a Moroccan court. The Moroccan judge ordered Ynna to pay damages. Chaabi disputes the ruling.

NET WORTH STATISTIC
2012

$2.9 Billion

2013

$2.1 Billion

2014

$1.9 Billion

2015

$1.3 Billion

2018

$1.3 Billion

TIMELINE
2014

Until he resigned in 2014, Miloud Chaabi won all Moroccan parliamentary elections since 1984, though he changed his political party multiple times

2011

In 2011, his fortune was estimated by Forbes Magazine at some $3 billion which made him the sixth richest man in Africa at the time, and the wealthiest person in Morocco

2008

In July 2008, he heavily criticized Driss Jettou's government for selling public properties at low prices without taking the proper legal procedures

2003

His daughter, Asma Chaâbi has been mayor of the city of Essaouira from 2003 to 2009, and was the first woman to hold such a position in Morocco

1998

In 1998, he launched Aswak Assalam shopping chain which was followed by the launch of Riyad Mogador hotel chain in 1999

1994

In 1994, he launched ELECTRA for electrical components, cables and television batteries

1992

In 1992, he founded JBC for cardboard paper and got a deal for the sale of the petrochemical company SNEP in 1993

1985

In 1985, the company sold all of its properties to Chaâbi himself

1964

His interest went toward the ceramic industry which made him start his own ceramic company in 1964

1948

At 15, he saved up enough money and moved from Marrakech to Kenitra where he started his first construction company in 1948

1930

Miloud Chaabi (Arabic:ميلود الشعبي; September 15, 1930 – April 16, 2016) was a Moroccan businessman and politician who had a net worth of $800 million in 2015

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