The Opulent King: Scandal of the Hidden Fortune of Morocco’s King Mohammed VI
BY: Hana Saada
ALGIERS- November 18, 2023- An investigation by the French magazine “Marianne” has unveiled alarming details about the hidden wealth of Morocco’s King Mohammed VI. This revelation comes at a time when Morocco is facing an unprecedented economic and social crisis. The Moroccan people, already burdened by challenging living conditions, now confront the reality of a regime based on plunder and lacking any intention of reform.
According to “Marianne,” the fortune of King Mohammed VI is estimated at a staggering 6 billion euros, a sum that far exceeds official figures. This wealth is said to come from various sources, many of which remain undisclosed and invisible in official financial reports.
Economic Burden on the Moroccan People
Morocco’s economic situation is exacerbated by the exorbitant cost of the royal lifestyle. “Marianne” reports that Mohammed VI costs the Moroccan taxpayer 657,000 euros daily. Furthermore, the official budget of the royal palace surpasses that of several key ministries, illustrating a blatant imbalance in the country’s financial resource allocation.
The extravagant lifestyle of the king and his family is funded by substantial budget allocations, covering expenses for their official and private residences, as well as costs related to their various activities and travels.
Economic Predation and Land Confiscation
The king’s grip on the Moroccan economy is even more concerning. The royal holding company, Al Mada, encompassing all of the king’s enterprises, operates in multiple sectors, creating evident conflicts of interest. Additionally, the practice of land confiscation by the king and his entourage, often at the expense of poor peasants, has been well-documented. This land appropriation contributes to the worsening poverty and inequality in the country.
“Marianne’s” investigation also highlights the resistance of local communities, such as that of Douar Ouled Sbita, against the confiscation of their lands for real estate and leisure projects led by the king’s associates.
