Moroccan Billionaire Miloud Chaabi is No More

Moroccan Billionaire Miloud Chaabi is No More

The late Miloud Chaabi.
The late Miloud Chaabi.

Rabat, Morocco (TMT)- Moroccan billionaire Miloud Chaabi is no more. He was 86.

Moroccan billionaire Miloud Chaabi passed away today after suffering a declining health due to aging, according to his family members.

The late is the founder of Ynna Holding and the owner of the Riad Mogador hotel chain and a group of supermarkets, by name Aswak Assalam in Morocco, among others.

He was a very religious person, well known for his strong stance against alcohol which is banned from both his hotel chain and supermarkets.

According to his family members, the man departed today peacefully with his family by his side.

The man will be remembered as one of Morocco’s few self-made men. He started from scratch and worked hard to become a billionaire. As a child he was a goat herder and a farmer.

But then at 15, he saved up enough money and moved from Marrakech to kenitra where he started his first construction company in 1948.

We Are to God and Unto Him We Shall Return.

The Moroccan Times.