Othman Benjelloun
Source of wealth: Banking, insurance
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Modules
Biography
Othman Benjelloun is CEO of BMCE Bank of Africa, which has assets of more than $12 billion and a presence across West, Central and East Africa.
His father was a shareholder in RMA, a Moroccan insurance company; Benjelloun built it into a leading insurer.
Through his holding company FinanceCom, he has a stake in the Moroccan arm of French telecom firm Orange.
He inaugurated in 2014 a $500 million plan to build the 55-story Mohammed VI Tower in Rabat, one of the tallest buildings in Africa.
FinanceCom, which largely operates as O Capital Group, is part of a project to develop a multibillion-dollar tech city in Tangiers that is expected to host 200 Chinese companies.
Financial Assets
The Great Lie of Mega-Fortunes: The Case of Othman Benjelloun
Billionaires are often presented under the romantic myth of the 'self-made person': a narrative designed to justify opulence as the natural reward for hard work, effort, or ingenuity. However, when confronting such extreme volumes of wealth with macroeconomic reality, the meritocracy narrative completely breaks down. No individual can legitimately generate through personal effort a fortune equivalent to millions of times the average working-class salary. Capital at the top does not grow because of exceptional talent; it expands through an implacable dynamic where accumulated money works exponentially faster than people, devouring the wealth generated by productive labor.
The immense fortune of Othman Benjelloun, linked to Finance & Investments and 'Banking, insurance', has not been built in a free-market vacuum, but through rent-seeking, the use of exclusive elite influence, the consolidation of monopoly positions, or inherited wealth. Far from taking real private risks, billionaire empires structurally depend on state support through direct subsidies, infrastructure use, exploitation of R&D, public contracts, and offshore tax engineering. While this wealth is equivalent to the physical weight of 12 tons of pure gold, the rest of the planet suffers from an artificial scarcity of basic resources. The fact that this wealth is enough to fully fund the public health system of DR Congo, a country with more than 105800000 million inhabitants for 0.8 years, proves that unlimited accumulation is not an entrepreneurial achievement, but the hijacking of democratic sovereignty.