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 12 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 12 Richest Men in Pakistan 2023
- Mian Mansha
- Shahid Khan
- Anwar Pervez
- M. Nawaz Sharif
- Malik Riaz
- Sadruddin Hashwani
- Asif Ali Zardari
- Nasir Schon
- Rafique M. Habib
- Tariq Saigol
- Abdul Razzaq Yaqoob
- Shehbaz Sharif
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 onto 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 is a man with a strong willpower to stay determined as he jumped through every hoop thrown at him till he was successful. His first job was at a local restaurant in the States 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 he joined 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 in Punjab in 1935, Sir Anwar Pervez was from a low-income family. He would walk barefoot to school daily. After he completed his matriculation, his family couldn’t afford to invest in his further studies. He got his first job as a telephone operator and was paid Rs. 96 per month.
Once he turned 21, in the 1950s he moved to Bradford, UK, and worked as a bus conductor for five years. After this 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 wholesale 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 being a 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 who were blessed with success, his journey was rough as he faced each problem with honesty and dedication. When asked, he said he credited 99% 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 in Pakistan.
Due to the constant ups and downs of his father’s 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 the 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 private sector 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 third in the list of the top 10 richest men in Pakistan.
He was born in India to a Khoja family on February 19, 1940. As he was a business-oriented man for 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 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 most successful businesses 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 West 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 with this, 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 history older 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, and Sajeel Motors – and is on the list of the top 10 richest men in the country with a net worth of $0.9 billion.
11. Abdul Razzaq Yaqoob
Net worth: $1
Billion Income Source: ARY Group, Jewellery Brands.
Abdul Razzak Yaqoob, a successful Pakistani entrepreneur based in Dubai, is a prominent figure among Pakistan’s wealthiest individuals, ranking within the top 10. He is the founder and owner of ARY Group, a conglomerate that encompasses a leading media establishment, a real estate development firm, a renowned jewelry brand, and various other ventures. Additionally, ARY Group is the proud owner of the Karachi Kings, a prominent team in the Pakistan Super League (PSL). Abdul Razzak Yaqoob also serves as the head of the World Memon Organization, further showcasing his influential roles. Notably, the group is deeply engaged in philanthropic and charitable endeavors, exemplifying their commitment to giving back to society.
Shehbaz Sharif
Net worth: $2
Billion Income Source: Textile Industry, Sugar Mills, Energy Sector.
Shehbaz Sharif is the current Prime Minister of Pakistan and top richest men in Pakistan as well. Regarding his business involvements, Shehbaz Sharif has been known to have interests in various sectors that contribute to his wealth. These sectors include the textile industry, which is a significant economic sector in Pakistan known for its production of textiles and garments. Additionally, he has ties to the construction industry, an industry pivotal for infrastructure development and urbanization. Sugar mills represent another sector of his involvement, as sugar is a major agricultural product in Pakistan with a well-established industry. Lastly, his engagement in the energy sector indicates an interest in a critical area of the economy that involves power generation, distribution, and management.
