Moulay Hafid Elalamy Biography and Net worth in dollars
When discussing Morocco’s most successful businessmen and influential politicians, one name stands out: Moulay Hafid Elalamy. Known for his leadership in both the corporate world and politics, Elalamy has built a reputation as a visionary entrepreneur and an impactful policymaker. His story reflects the rise of a man who successfully combined private business success with national service.
In this article, we will take a detailed look at Moulay Hafid Elalamy’s net worth, the businesses that made him wealthy, his political contributions, and the role he continues to play in shaping Morocco’s economy.
Who is Moulay Hafid Elalamy?
Moulay Hafid Elalamy is a Moroccan businessman and politician, widely recognized as the founder of Saham Group, a multinational conglomerate with interests in insurance, healthcare, and outsourcing. Born in 1960 in Marrakesh, Morocco, Elalamy studied in Canada before returning home to build his career.
Over the years, he grew Saham Group into one of Africa’s largest insurance companies before eventually selling a significant part of it to a global player. His success in business later transitioned into politics, where he became Morocco’s Minister of Industry, Trade, Green and Digital Economy from 2013 to 2021.
Moulay Hafid Elalamy Net Worth in 2025
As of 2025, Moulay Hafid Elalamy’s net worth is estimated between $900 million and $1.1 billion. His fortune mainly comes from his ownership of Saham Group, real estate investments, and other diversified holdings.
Though he sold the majority stake in Saham to South African financial giant Sanlam in 2018, Elalamy retained substantial wealth and reinvested in new ventures. This makes him one of Morocco’s richest businessmen and among Africa’s wealthiest political figures.
Sources of Moulay Hafid Elalamy’s Wealth
1. Saham Group
Founded in 1995, Saham Group is Elalamy’s most significant creation.
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Insurance: Saham Assurance became a dominant force in Morocco and Africa, operating in over 20 countries.
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Healthcare: Through clinics and health services, the group expanded into the medical sector.
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Outsourcing: Saham also invested in customer relationship management and business outsourcing services.
By selling a majority stake in Saham to Sanlam for over $1 billion, Elalamy secured his place among Morocco’s wealthiest entrepreneurs.
2. Real Estate Investments
Moulay Hafid Elalamy also invested heavily in real estate. His properties include commercial buildings, residential projects, and developments in both Morocco and abroad. Real estate continues to be a steady contributor to Moulay Hafid Elalamy’s net worth.
3. Political Career
Although his direct earnings from politics were modest compared to his business empire, Elalamy’s position as Minister of Industry, Trade, Green and Digital Economy enhanced his influence. He spearheaded several national initiatives, including industrial acceleration plans and digital transformation projects.
His political career gave him the platform to align Morocco’s development with global economic trends, further boosting his business reputation.
4. Other Business Interests
In addition to insurance and real estate, Elalamy has diversified investments in:
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Banking and finance
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Healthcare partnerships
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Technology and digital startups
These ventures have helped maintain and grow his wealth even after exiting Saham’s core insurance business.
Moulay Hafid Elalamy as a Politician
From 2013 to 2021, Elalamy served as Morocco’s Minister of Industry, Trade, Green and Digital Economy. During his tenure, he:
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Launched Morocco’s Industrial Acceleration Plan, which boosted industrial zones and created thousands of jobs.
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Supported the development of Morocco’s automotive and aerospace industries.
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Championed the digital economy, pushing for Morocco to become a technology hub in Africa.
His political work earned him recognition as a leader who could bridge the gap between the private sector and government.
Lifestyle of Moulay Hafid Elalamy
With a fortune of nearly $1 billion, Moulay Hafid Elalamy enjoys a life of luxury, though he is known for his professional and discreet image.
His wealth allows him access to:
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High-end properties in Marrakesh, Casablanca, and abroad.
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A network of global business and political connections.
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Travel for both business and leisure.
However, he is more often recognized for his business acumen and public service rather than extravagant displays of wealth.
Philanthropy and Social Contributions
Elalamy is also active in philanthropy, channeling part of his fortune into charitable activities. His contributions include:
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Education: Supporting schools, scholarships, and training centers.
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Healthcare: Funding hospitals and medical infrastructure.
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Youth Development: Creating opportunities for young entrepreneurs and professionals.
These initiatives strengthen his legacy beyond wealth and politics, positioning him as a figure dedicated to Morocco’s progress.
Comparison with Other Moroccan Politicians
When compared to other wealthy Moroccan politicians, Moulay Hafid Elalamy’s net worth is among the highest.
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Aziz Akhannouch (Prime Minister): Estimated net worth of $2 billion to $2.5 billion.
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Driss Jettou (Former Prime Minister): Around $40 million to $60 million.
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Salaheddine Mezouar (Former Minister): Between $50 million and $70 million.
Although not as wealthy as Aziz Akhannouch, Elalamy is still ranked among Morocco’s richest politicians.
Challenges and Criticism
Like many wealthy public figures, Moulay Hafid Elalamy has faced challenges and criticisms:
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Conflict of Interest Allegations – Critics have questioned whether his business empire conflicted with his political duties.
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Market Dominance – Some argue that his companies benefited disproportionately from state policies.
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Public Expectations – As a billionaire, he is often expected to contribute more to Morocco’s social development.
Despite these challenges, Elalamy’s influence remains strong in both the corporate and political sectors.
The Future of Moulay Hafid Elalamy’s Net Worth
Looking ahead, Moulay Hafid Elalamy’s net worth is likely to remain stable or increase due to:
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Investments in real estate and finance.
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Potential new ventures in technology and digital industries.
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His continuous role as a major influencer in Morocco’s economic development.
Even without Saham’s insurance branch, Elalamy’s diversified portfolio ensures that his wealth will continue to grow.
Conclusion
The story of Moulay Hafid Elalamy’s net worth reflects the journey of a visionary entrepreneur who transformed Morocco’s insurance industry and later became a leading political figure. With an estimated fortune close to $1 billion, Elalamy stands among the richest Moroccan politicians and business leaders.
His success is not just measured in wealth but also in his contributions to Morocco’s economy, industry, and digital future. From Saham Group to political office, and from philanthropy to real estate, his journey shows how business and leadership can work together to create long-lasting impact.
Frequently Asked Questions (FAQs)
1. What is Moulay Hafid Elalamy’s net worth in 2025?
Moulay Hafid Elalamy’s net worth is estimated between $900 million and $1.1 billion.
2. How did Moulay Hafid Elalamy make his fortune?
He built his wealth mainly through Saham Group, a multinational company in insurance, healthcare, and outsourcing, along with real estate and finance investments.
3. Is Moulay Hafid Elalamy a billionaire?
Yes, his wealth places him close to the $1 billion mark, making him one of Morocco’s richest businessmen.
4. Did Moulay Hafid Elalamy sell Saham Group?
He sold a majority stake in Saham Group’s insurance business to Sanlam in 2018 for over $1 billion but retained other business interests.
5. What role did he play in politics?
Elalamy served as Morocco’s Minister of Industry, Trade, Green and Digital Economy from 2013 to 2021.
6. Is politics his main source of wealth?
No, most of his fortune comes from his businesses. His political career added influence but not major financial gains.
7. What industries is Elalamy investing in now?
He has diversified into real estate, finance, healthcare, and technology.
8. How does his wealth compare to Aziz Akhannouch’s net worth?
Elalamy’s fortune is smaller, at around $1 billion, while Akhannouch is worth over $2 billion.
9. Does Moulay Hafid Elalamy engage in philanthropy?
Yes, he supports education, healthcare, and youth empowerment projects across Morocco.
10. What is the future of his wealth?
With diversified investments, his net worth is expected to remain strong and possibly grow further.