What is King Mohammed VI of Morocco’s Net Worth?
King Mohammed VI is the king of Morocco, having ascended to the throne in July 1999 upon the passing of his father, King Hassan II. King Mohammed VI’s net worth is $6 billion.
Upon taking the throne, he announced various social reforms, however he was later implicated in government corruption when diplomatic cables were leaked in 2010. In addition to his royal duties, Mohammed VI has extensive business holdings throughout Morocco, making him the richest king in Africa.
Early Life and Education
Mohammed VI was born on August 21, 1963 in Rabat, Morocco as the second child and first son of King Hassan II and Lalla Latifa. He has a brother named Prince Moulay Rachid, and three sisters: Princesses Lalla Meryem, Lalla Asma, and Lalla Hasna. Mohammed VI’s father was intent on giving him a religious and political education early on, and enrolled him in Quranic school at the Royal Palace when he was just four years old. He went on to attend the Royal College, and then Mohammed V University at Agdal, from which he earned his law degree in 1985. Late that year, he was commissioned a Colonel Major of the Royal Moroccan Army.
In 1987, Mohammed VI obtained a certificate in political sciences, and in the summer of 1988 obtained a diploma in public law. He went on to earn his PhD in law from France’s University of Nice Sophia Antipolis in 1993. The following year, Mohammed VI was promoted to Major General and then to Commander-in-Chief of the Royal Moroccan Army.
King of Morocco
Upon the passing of his father on July 23, 1999, Mohammed VI ascended to the throne as the new king of Morocco. Shortly after taking the throne, he announced widespread reforms focused on improving human rights, creating jobs, and tackling poverty and corruption. In early 2004, Mohammed VI changed the family code, known as the Mudawana, to grant women more power. However, despite his reformist rhetoric, Mohammed VI elicited backlash for being involved in government corruption. In 2011, mass protests erupted in Morocco calling for political and social reforms related to police brutality, electoral fraud, and government censorship, among other issues. Mohammed VI responded by enacting a number of reforms and introducing a new constitution. The reforms were passed on July 1, 2011 by a public referendum.
Among his other activities as king, Mohammed VI created the Royal Advisory Council for Saharan Affairs to defend Morocco’s claim over the long-disputed Western Sahara. He also oversaw the country’s readmission to the African Union in early 2017. Under Mohammed VI’s rule, Morocco has endorsed partnerships with the Gulf Cooperation Council and great powers such as China and Russia. Elsewhere, Mohammed oversaw the restoration of diplomatic relations between Morocco and Israel. Meanwhile, tensions with Morocco’s neighbor Algeria continued to intensify.
Mohammed VI has been ranked by Forbes as the richest king in Africa due to his extensive business holdings. The leading businessman and banker in Morocco, he holds a majority stake in the Al Mada holding company, which has a portfolio encompassing prominent businesses in banking, mining, real estate, insurance, telecommunications, and energy, among other sectors. Additionally, Mohammed is a leading agricultural producer and land owner, and has a personal holding company called SIGER that has shares in the major agricultural group Les Domaines.
Mohammed VI has generated some substantial controversies during his reign as king. Most have had to do with alleged government corruption, stemming from leaked diplomatic cables in 2010 that showed the extent to which Mohammed VI’s business interests were entangled with the activities of the Royal Palace. The documents revealed a particularly strong link with corruption in the housing sector. Mohammed VI drew further uproar in the summer of 2013 after he pardoned 48 jailed Spaniards, including a convicted pedophile who had raped several children. In response, protests broke out in Morocco.
In 2002, Mohammed VI married Salma Bennani. They had two children, Crown Prince Moulay Hassan and Princess Lalla Khadija, before reportedly divorcing in 2018.
Mohammed VI’s health has been a significant subject of discussion in Morocco as well as abroad. He has undergone various operations for maladies, including an irregular heart rate, and has been out of commission for viral pneumonia and COVID-19.