Meet the Richest Monarch in Africa- King Mohammed VI
If you are looking for who the richest king in Africa is, You should know that the richest monarch in Africa according to Forbes magazine is King Mohammed VI of Morocco. He became rich through his control of Société Nationale d’Investissement (SNI) that has assets worth more than $10 billion.
Morocco is one of the ancient African countries still ruled by a King. The country is located in North Africa and practice quasi-parliamentary system of government. On 30 July 1999, Mohammed was enthroned King of Morrocco after his father King Hassan II and engaged in many political and social reforms in Morocco.
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Why is King Mohammed VI the Richest Monarch in Africa?
As it stands now, Mohammed VI is Morocco’s leading businessman and banker with assets worth up to US$2.5 billion as of 2009. It will surprise you to know that the Moroccan Royal Family is the richest royal family in the world, even richer than the the Queen of England and her family.
He also holds majority stakes in different multi-national companies and conglomerates such as Société Nationale d’Investissement (SNI), a company that has different sub companies under it, like Heineken, real estates, oil companies to mention but a few. King Mohammed VI deals also in agriculture, owning a 12,000 hectare of land for agricultural businesses worth millions of dollars.
According to Forbes, His palace’s spend $960,000 or more daily due to massive expenses in running the activities of the palace. King Mohammed IV is currently married to Queen Salma Bennani and has three children.
King Mohammed IV worth is estimated to be about $10, billion which makes him the richest monarch in Africa