Despite being economically poor, Pakistan has several billionaires. More than 80 per cent of the population lives on average, while 34 per cent are still below the poverty line. Although our rich people get rich with each passing day, they do not hold a candle to the richest in the world.
According to the Global Wealth Indexes, the total tally of Pakistan’s elite class (assets less debt) in 2018 was only 0.1 percent. While India has $ 16 billion in the Forbes 2019 list, only a few of our compatriots have joined the list.
Here we have joined the 10 richest people in Pakistan based on their net worth.
Note that the net worth of their aforementioned wealth is based on their publicly available assets.
1. Shahid Khan
Net Value: $ 8.3 Billion
Income source: Flex-N-Gate, Jacksonville Jaguars, Fulham F.C, All Elite Wrestling.
Shahid Khan is a Pakistani-born US businessman with a net worth of $ 8.3 billion is declared the richest man in Pakistan 2019. Born in 1950, Khan belonged to a middle-class family from Lahore and traveled to the United States in 1967 for higher studies. There his first job was to wash dishes at a local restaurant that paid just over $ 1 per hour.
Shahid Khan, the man of strong will and charismatic personality, jumped the ladder of success when he started his own business. In 1978, he began making one-piece bumpers for tailor-made vans and bodywork.
Two years later, in 1980, he purchased Flex-N-Gate Corporation, the company he first joined as an engineering director. The company now has 66 plants worldwide and more than 24,000 employees.
The owner of the Jacksonville Jaguars of the NFL and Fulham F.C of the English Premier League is in the 61st place on the Forbes Billionaires 2019 list.
Moreover, he and his son Tony Khan also launched All Elite Wrestling in competition to WWE earlier this year.
2. Anwar Pervez
Net worth: $ 4.6 billion
Source of revenue: Bestway Group, UBL
Sir Anwar Pervez is second in the list of the 10 richest men in Pakistan. Like many other successful people, his lifelong journey is written with hard work and honesty. He credits his success to “one percent luck, 99 percent diligence and honesty.”
Anwar Pervez was born in 1935 in a small town in Punjab. He used to go to school barefoot. After completing enrollment with a first division, he was unable to pay for further studies and joined a company as an operator. There, his first salary was Rs. 96 per month.
In the 1950s, at the age of 21, he migrated to the United Kingdom and began working as a bus director in Bradford. After five years working as a director, he had enough money to bring his other family members to Britain.
A few years later, their combined income was enough to start their own retail store in Earl’s Court, a specialist store that sold masala and halal meat.
In the late 60s, he decided to expand his business, and started in wholesale business under the banner of Bestway. The company now owns a reported 18 per cent market share in the UK wholesale sector.
The company also deals with sectors, banking, and pharmacy. He is also a major shareholder in United Bank Limited (UBL). Sir Anwar is the richest Pakistani in the UK, with a net worth of $ 4.6 billion.
Pervez, 82, is a leading figure in the UK. Known by the Queen in 1999, Sir Anwar Pervez is also a lifelong member of the House of Lords.
He has also received several UK-based awards for his support and successful business activities such as EMMA Business Personality of the Year, Barclays Business & Trade Excellence Award, and Grocer Cup for Outstanding Business Achievement, and GG2 Entrepreneur of the Year among others.
3. Sadruddin Hashwani
Net worth: $ 3.4 billion
Source of revenue: Marriott Hotel, Pearl Continental Hotel, East Oil
Sadruddin Hashwarni, the owner of Marriott and Pearl Continental Hotels across the country, ranks third in the list of the 10 richest men in Pakistan with a net worth of $ 3.4 billion.
Born on February 19, 1940 to a Khoja family in India, Hashwani has always been a business-oriented person. At the age of just 20, he founded the company Hassan Ali along with his brother. Prior to nationalization in 1973, it was Pakistan’s largest trading company.
He then launched Holiday Inn hotels in Karachi and Islamabad. Both hotels were called Marriott hotels in the 1990s.
The president of Grupo Hashoo has invested in many successful businesses. He has engagements in almost every running industry in Pakistan, such as travel, tourism, real estate, pharmacy companies, information technology, oil and gas industry. The Hashoo Group also owns Ocean Pakistan Limited, a prestigious oil and gas production company.
4. Mian Mansha
Net worth: $ 2.7 billion
Source of revenue: Nishat Group, MCB Ltd, Adamjee Group, Nishat Chunian Group, DG Khan Cement
Mian Muhammad Mansha – an industrialist and entrepreneur – is a Pakistani business tycoon and billionaire with a net worth of $ 2.7 billion in July 2019. Some sources, however, host his net worth at $ 5 billion.
Born in 1947, he belonged to a benevolent family who migrated to Bengal in the 1930s. The Mansha family, however, settled in Punjab after a patrician company, where they started a cotton-making company, which later became the Nishat Textile Mill – now Pakistan’s largest manufacturing plant.
He is the owner of the Islamic Business Bank (MCB), which is among the most profitable private banks in the country. In addition he is the founder and CEO of the Lahore-based international conglomerate Nishat Group. The Nishat Group also partnered with Hyundai Japan to assemble the Japanese vehicles in Pakistan.
Additionally, Mian Mansha also owns Adamjee Group, Nishat Chunian Power & Nishat Group, DG Khan Cements, and has shares in the transportation industry. He has also spent his presence on the big-budget infrastructure projects in Pakistan, including coasts and energy production.
He joined Forbes’ list of billionaires in 2010 and also received Sitara-e-Imtiaz in 2004. Mansha family remains among the highest taxpayers in the country.
5. Asif Ali Zardari
Net Value: $ 1.8 billion
Source of income: Diversified, Agriculture, and Real Estate,
Asif Ali Zardari – the former president and co-chair of the Pakistan People’s Party (PPP) – is said to be the 5th richest man in Pakistan with a net worth of US $ 1.8 billion. However the estimate does not include his reported states in Surrey, West End of London, Normandy, Manhattan (an apartment in Belaire Apartments), and Dubai, as well as a 16th century castle in Normandy.
Unknown to the world until the 1980s, Zardari is said to have used black cinema tickets and run gambling houses. He got fired after marrying Benazir Bhutto in 1987, who later became Pakistan’s first female prime minister a year later. During her three terms as prime minister, Zardari was known as Mr. 10 Percent in the government corridors for his “brokerage services” to someone against a fixed 10 percent of the deal. He accumulated most of his wealth during the government of Benazir Bhutto.
He has previously been in prison twice on charges of corruption and murder, and is named as a man accused in a multibillion-dollar fake accounts scandal.
Following the assassination of Benazir in 2007, PPP swept a majority of the seats in the 2008 elections, and Zardari became the President of Pakistan. He served on the post until 2013.
Along with his political career, he also has investments in agriculture, beverages and the real estate sector, for which he was included in the list of richest people with a net worth of $ 1.8 billion.
6. Malik Riaz
Net worth: $ 1.5 billion
Source of Income: Bahrain Township
Malik Riaz Hussain, who often by the name of Malik Riaz is the country’s leading real estate tycoon and one of Pakistan’s wealthiest merchants.
Born of a failed construction contractor, Riaz was unable to finish his studies due to ups and downs in his father’s affairs. After matriculation, he began working as a clerk with the Military Engineering Service. There, he established his contacts and learned how to operate the system.
Later in 1995, he established a construction company under the banner of Hussain Global. Soon, with the help of his contacts, Malik Riaz signed an agreement with the charitable trust of the Pakistan Navy, known as the Bahria Foundation, to develop its community called Bahria Town. In the 2000s, the Pakistan Navy transferred the entire stock to Malik Riaz.
That was when he began to expand the housing scheme. So far he has established nine phases of Bahrain town Rawalpindi. In addition he has developed a co-located community in Lahore and is close to ending Bahria Village Karachi, Asia’s largest inhabited community. The project later loaned him in hot water as 16,896 acres of land for this project were acquired illegally. The case remained in the Supreme Court till March this year, which he resolved by paying compensation of Rs. 460 billion with the Supreme Court.
He is also a well-known figure in the country thanks to his work in philanthropy. He built several hospitals and houses for the poor of the country.
As of 2019, Bahrain Group has 60,000 employees, making it one of the largest private sector in Pakistan. With a net worth of $ 1.5 billion, Malik Riaz is 6th in the list of Pakistan’s richest men.
7. Nawaz Sharif & Family
Net worth: $ 1.4 billion
Source of Income: Sharif Group, Ittefaq Group, Real Estate
Mian Mohammad Nawaz Sharif – Pakistan’s three-time prime minister – is one of the richest men in the country. Veteran politician and owner of Ittefaq, Pakistan’s leading steel producer, is also investing in agriculture, sugar and transportation. Its net worth is up to $ 1.4 billion. The estimate does not include the undeclared properties, especially those in England, UAE and the United States.
Born on December 25, 1949, Nawaz Sharif is the oldest son of Mian Mohammad Sharif, and is believed to have acquired much of his wealth and wealth during his government terms. An exact estimate of his hidden assets around the world has not yet been established.
On the political front, he is one of the most successful politicians in the history of Pakistan. Beginning his career as Chief Minister of Punjab during the Zia regime, he served as Chief Minister of Punjab for two terms before being sworn in as the 12th Prime Minister of the country in 1990.
Since then, he has seen various crises in his political and business career, but always overcomes the difficulties. The Supreme Court sentenced him in 2017 in a Panama Scandal that revealed his multi-million dollar foreign investment in the UAE, England and other countries. The three-time prime minister and his daughter Maryam Nawaz are now facing jail for alleged corruption charges.
8. Nasir Schon
Net worth: $ 1 billion
Source of Income: Schon Properties
Nasir Schon is the owner and co-founder of Schon Properties, along with his brother Tahir Schon. The company, founded in 1971, was a huge success when it launched its real estate projects in the UAE.
To date, the company has delivered 1.6 million square feet in Dubai. The company has received numerous awards for its work, including the CNBC Arabian Property Award and Bestway Office Development Award. With net worth of just over $ 1 billion, Nasir Schon remains the 8th richest man in Pakistan.
9. Rafique M. Habib
Net worth: $ 0.95 billion
Income Source: Habib Bank Limited, Habib Metro, Habib University, Indus Motors Company
Rafique M. Habib of the House of Habib is one of the leading names in the country’s business sector. Habib House, which has a history older than Pakistan, now owns many affiliates, including Habib Bank Limited, Habib Metro, Habib Public School, and University, Indus Motors Company, Insurance Company, and many more.
With a net worth of $ 0.95 billion, Rafique M. Habib is Pakistan’s 9th richest man.
10. Tariq Saigol
Net worth: $ 0.9 billion
Source of revenue: Kohinoor-Maple Group, Saigol engines, and Sajeel engines, Kohinoor mills & electrical company
Tariq Saigol – the owner of the Kohinoor-Maple group, Saigol engines and Sajeel engines – is the 10th list of Pakistan’s richest retailers with a net worth of $ 0.9 billion. He also invested heavily in textile factories Kohinoor, Pak electron and Kohinoor Power Company.