After the statistical view of the Global Wealth Index, the total count of Pakistan’s elite class wealth (minus debts) in the year 2018 was only 0.1 percent. In a country that is so economically poor, there seem to be several billionaires in Pakistan. While 80% of the population is living an average life, 34% of them are way below the poverty line. In Forbes 2019 list, India made it on with 16 billionaires while only a few of ours barely made it to the list.
We have taken the time to list down the top 10 richest men in Pakistan based on their net worth.
Note that the net worth of their wealth mentioned is based on their asset information available publicly.
Top 10 Richest Men in Pakistan 2020
1. Mian Mansha
Net worth: $2.7
Billion Income Source: MCB ltd, Nishat Group, Adamjee Group, DG Khan Cement, Nishat Chunian Group.
Pakistani Business magnate; Mian Muhammad Mansha – an industrialist and entrepreneur with a net worth of $2.4 billion and a charismatic personality that speaks volumes.
He was born to a fairly rich family in 1947, who migrated to Bengal around the 30’s. However, the Mansha family moved back to Punjab where they decided to start their own cotton ginning business which is now known as Nishat Textile Mills.Today, this is Pakistan’s largest fabric manufacturing mill.
Mian Mansha, is the founder and the Chief Executive of the Lahore-based international conglomerate Nishat Group, which has now also partnered with Hyundai Japan in the assembling of Japanese vehicles. Also, he is the owner of the Muslim Commercial Bank (MCB) which happens to land along with the country’s most profitable private banks.
Moreover, Mian Mansha received the Sitara-e-Imtiaz in 2004 and made his way on to the list of Forbes’ billionaires 2010.
2. Shahid Khan
Net Worth: $8.3
Billion Income Source: Jacksonville Jaguars, Flex-N-Gate, Fulham F.C, All Elite Wrestling.
The Pakistan-born American billionaire businessman has a net worth of $8.3 billion and is declared as the richest man in Pakistan 2019. He was born in Lahore in 1950, and belonged to a middle-class family. He decided to travel to the United States in 1967 to obtain a higher education.
Shahid Khan, a man with a strong will power to stay determined as he jumped through every hoop thrown at him till he was successful. His first job was a local restaurant in theStates as a dishwasher and was paid a little over a dollar per hour. In 1978, he decided to make customized car one-piece bumpers for body shop repairs and pickup trucks.
After two years of struggle, in 1980 he bought Flex-N-Gate Corporation, the company hejoined first as an engineering director. Now, that very company has 66 plants worldwide with a strength of over 24,000 employees!
3. Anwar Pervez
Net worth: $4.6
Billion Income Source: Bestway Group, UBL
Born in a small town of Punjab in 1935, Sir Anwar Pervez was from a low-income family.He would walk bare foot to school daily. After he completed his matriculation, his family couldn’t afford investing in his further studies. He got his first job as a telephone operatorand was paid Rs. 96 per month.
Once he turned 21, in the 1950’s he moved to Bradford, UK and worked as a bus conductor for five years. After which he started his own retail store in Earl’s Court that sold masalas and halal meat.
Later on, in the late 60’s he made a plan to expand his business and enter the whole sale business under the banner of ‘Bestway’. Today, it is reported that the company owns 18% market share in the UK’s wholesale sector.
Along with cement, the company also deals in banking and pharmaceuticals, while beinga major shareholder in the United Bank Limited (UBL).
Today, Sir Anwar Pervez has a net worth of $4.6 billion and is known as the richest Pakistani in the UK.Like many other people that were blessed with success, his journey was rough as he faced each problem with honesty and dedication. When asked upon, he said he credited99% of his success to his honesty and diligence and the remaining one percent to luck.
4. M. Nawaz Sharif
Net worth: $1.4
Billion Income Source: Sharif Group, Real Estate, Ittefaq Group.
Born on December 25th 1949, the eldest son of Mian Mohammad Sharif- Nawaz Sharif. He is said to have acquired most of his assets and wealth during his terms in his government positions. The three-time Prime Minister of Pakistan is one of the richest men in the country.
He owns Ittefaq Group, which is the leading steel producer in Pakistan, and also holds investments in sugar, agriculture, and transport. Nawaz Sharif happens to be one of the most accomplished politicians in Pakistan’s history.
During Zia’s regime, he started his career as a Finance Minister of Punjab. Later, he served as the Chief Minister of Punjab for two terms before taking oath as the country’s 12th Prime Minister in 1990
5. Malik Riaz
Net worth: $1.5
Billion Income Source: Bahria Town
Pakistan’s leading real estate tycoon, Malik Riaz Hussain; commonly known as Malik Riaz is indeed one of the wealthiest men of Pakistan.
Due to the constant ups and downs of his fathers’ business affairs as a construction contractor, Riaz was unable to complete his education. Once he had completed his matriculation, he began his first job as a clerk with the Military Engineering Service. That is where he obtained his contacts and learned all he needed to know about how to work the system.
Later, he established a construction company under the name of Hussain Global. With the help of his formerly established contacts, Malik Riaz signed an agreement with Pakistan Navy’s charitable trust known as Bahria Foundation to create the gated community now known as Bahria Town. After 5 years, the Pakistan Navy transferred the entire shareholding over to Malik Riaz.
He has developed this gated sector so far in Rawalpindi, Karachi, and Lahore. Today, bahria Town Karachi is known to be Asia’s largest gated community. In 2019, it was recorded that the Bahria Group has over 60,000 employees, making it the largest privatesector in the country!
6. Sadruddin Hashwani
Net worth: $3.4
Billion Income Source: Orient Petroleum, Marriott Hotel, Pearl Continental Hotel.
The owner of Pearl Continental and Marriott Hotels, Sadruddin Hashwani has a net worth of $3.4 billion and ranks the third in the list of top 10 richest men in Pakistan.
He was born in India to a Khoja family on February 19th, 1940. As he was a business-oriented man since as long as he could remember, at the age of 20 he founded the Hassan Ali Company alongside his brother. It was known to be Pakistan’s largest cotton trading company before it was nationalized in 1973.
In 1990, he launched Holiday Inn hotels in Islamabad and Karachi, which were renamed to Marriott hotels later on.
Today, he has stakes in almost every single running industry in Pakistan such as, real estate, tourism, travel, pharmaceuticals, Information technology, gas, and oil industry. Hashoo Group’s Chairman has invested a lot into some of the very finest and successfulbusiness of today.
7. Asif Ali Zardari
Net worth: $1.8
Billion Income Source: Agriculture, Diversified, and Real Estate.
The former President and the co-chairman of Pakistan Peoples Party, Asif Ali Zardari has a net worth of $1.8 billion. The estimate does not include his reported states in Westof London, Surrey, a Chateau in Normandy, Manhattan (a condominium in Belaire Apartments), and Dubai.
Zardari got his taste of the limelight after he married Benazir Bhutto in 1987. What the world was unaware of till the 1980’s was his Gamble house and how he would allegedly sell cinema tickets in black.
He has been to jail twice under the allegations of murder and corruption. He maintained a political career as the former President of Pakistan from 2008-2013. Along which he invested in real estate, beverages, and agriculture.
8. Nasir Schon
Net worth: $1
Billion Income Source: Schon Properties
The owner and co-founder of Schon Properties, Nasir Schon started this venture alongside his brother in 1971 when it first launched its real estate in UAE.
The company has successfully delivered 1.6 million square feet in Dubai and has received multiple awards for its work and efficiency.
9. Rafique M. Habib
Net worth: $0.95
Billion Income Source: Habib Metro, Habib Bank Limited, Habib University, Indus Motors Company
The House of Habib is one of the most important and successful names known in the business sector of the country – started by Rafique M. Habib. The company has a historyolder than Pakistan and it now holds numerous subsidiaries which include Habib Bank Limited, Habib Metro, Habib Public School, and University, Indus Motors Company, Habib Insurance Company, and many more.
10. Tariq Saigol
Net worth: $0.9
Billion Income Source: Kohinoor Textile mills and power company, Kohinoor-Maple groups, Saigol Motors, Sajeel Motors
Tariq Saigol, heavily invested in Kohinoor textile mills, Pak electron, and Kohinoor PowerCompany. He is the owner of Kohinoor-Maple group, Saigol motors, Sajeel motors – and is on the list of top 10 richest men in the country with a net worth of $0.9 billion.