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SNI’s largest asset is a 48% stake in Morocco’s largest bank, Attijariwafa, as well as controlling stakes in mass distribution giant Marjane Holding; mining company Managem Group and mobile telecoms company Inwi.[10]
Mohammed VI is Morocco’s leading businessman and banker. In 2009, he was estimated by Forbes magazine to be worth US$2.5 billion, and the Moroccan Royal Family has one of the largest fortunes in the world.[8]
Follow @newslexpointThe King also owns a substantial chunk of the world’s phosphate reserves.
King Mohammed VI, the 27th king of the Alaouite dynasty,[5] ascended the throne in July 1999 and immediately set out to initiate a series of socio-political and economic reforms that have made the Kingdom freer and more prosperous than during the reign of his father, King Hassan II.
In 2014, the King introduced a new family law giving women legal equality with men in key areas; his economic strategy has led to the creation of new industrial zones which in turn has given a boost to the number of global industrial corporations setting up shop in Morocco.[6] On the political front, he has enacted a series of reforms to the country’s constitution, including amendments that stripped him of some of his political powers.[9]
King Mohammed VI was born as Sidi Mohammed on August 21, 1963 in Rabat, Morocco.[10] When he was born, he was immediately appointed as the Heir Apparent and Crown Prince. He ascended to the throne when his father, King Hassan II, died in 1999.[4]
Source: Forbes
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