While a majority of Pakistan’s population is divided into middle-income and lower-income groups, a few handfuls of elites are accumulating massive wealth. The total count of Pakistan’s elite-class wealth (assets minus debt) in 2018 was only 0.1 percent, according to the Global Wealth Indexes. Although India has 16 billionaires on the Forbes 2019 list, only a few of our compatriots made it to the list.
Top 10 Richest Men in Pakistan – 2020
Based on their net worth, we have recruited the top 10 richest people in Pakistan.
Source of income: Flex-N-Gate, Jacksonville Jaguars, Fulham F.C, All Elite Wrestling.
Net worth of $8.3 billion
Shahid Khan is an American businessman born in Pakistan who is declared the richest man in Pakistan in 2019 with a net worth of $8.3 billion. Raised in 1950, Khan belonged to Lahore’s middle-class family and moved for higher studies to the United States in 1967. His first job was at a local restaurant was washing dishes that cost just over $1 an hour.
Once he started his own company, Shahid Khan, the man of a strong will and a charismatic personality, jumped the steps to success. He began making one-piece car bumpers in 1978 for customized pickup trucks and body shop repairs.
He bought Flex-N-Gate Corporation two years later, in 1980, the organization he first entered as an engineering director. The company now has 66 plants and more than 24,000 employees worldwide.
The owner of Jacksonville Jaguars from NFL and Fulham F.C from the English Premier League team is ranked 61st in the 2019 Forbes Billionaires list. He’s also launched All Elite Wrestling in with his son Tony Khan.
Net worth: $2.7 billion
Source of income: Nishat Group, MCB Ltd, Adamjee Group, Nishat Chunian Group, DG Khan Cement
The first billionaire from Pakistan. Born during the turbulent 1947 Partition, when his parents were among the Muslim families who made the trek from India to Pakistan. In 1951, with Nishat Mills, his father and uncles jumped into textiles. Mian went to college in the UK; after graduation, he joined the family business. His Nishat Group is now Pakistan’s largest exporter of cotton clothing (for brands such as Gap) and the largest private employer nationwide; it also invests in power plants, cement and insurance. Good bet in banking: The Muslim Commercial Bank won a controversial bid during the privatization campaign of the country in 1991.
He is the owner of the Muslim Commercial Bank (MCB), one of the most profitable private banks in the country. He is also the founder and chief executive of the multinational conglomerate Nishat Group based in Lahore. The Nishat Group also collaborated with Hyundai Motor in assembling the vehicles from Japan in Pakistan.
In addition, Mian Mansha controls Adamjee Group, Nishat Chunian Power & Nishat Company, DG Khan Cements, as well as investments in the transport sector. In Pakistan’s big-budget infrastructure projects, including seaports and energy production, he has also invested his presence.
Sir Anwar Pervaiz
Net worth: $4.6 billion
Source of income: Bestway Group, UBL
Sir Anwar Pervez has made it to one of the top 10 richest men in Pakistan. His life story is written with sheer hard work and sincerity, just like many other successful people. He attributes his success to “one percent chance, 99 percent discipline, and integrity.” Anwar Pervez, born in 1935 in a small town in Punjab, was part of a low-income family. He used to go barefooted to school. Upon done
He moved to the United Kingdom in the 1950s, at the age of 21, and began working as a bus driver in Bradford. He had enough money to introduce his other family members to Britain after serving as a driver for five years.
The company also deals with the steel, banking and pharmaceutical industries. In addition, he is also a major shareholder in United Bank Limited (UBL). Sir Anwar is the UK’s richest Pakistani, with $4.6 billion in net worth.
Pervez, 82, in the United Kingdom is a very eminent personality. Sir Anwar Pervez, who was knighted by the Queen in 1999, is also a lifetime member of the House of Lords.
He has also won many UK awards for his support and successful business practices such as the Year’s EMMA Business Personality, the Barclays Business & Commerce Quality Award and the Outstanding Business Achieveme Grocer Cup.
Net worth: $3.4 billion
Source of income: Marriott Hotel, Pearl Continental Hotel, Orient Petroleum
Mr. Sadruddin Hashwani began trading in Cotton in 1960 and today his industrial group is one of the country’s largest portfolio groups as diverse as Real Estate, Oil & Gas, Hospitality, IT, Ceramics and Pharmaceuticals. He is known today as the world’s leading figures in the hospitality industry and has been awarded many prizes including a gold medal for distinguished services for hopitality industry in Pakistan.
Hashoo Group was founded by Hashwani in 1960, and is a global company comprising more than 20 independently operated businesses. The company operates across three continents, headquartered in Pakistan, with a goal to ensure long-term sustainability, increase shareholder value, create career opportunities, and actively support community development where it operates.
His group’s Pearl Continental Hotels and Marriot Hotels are industry standard in Pakistan for the hospitality industry. The company of Mr. Hashwani also expanded into social entrepreneurship where it produced laurels worldwide.
Nishan-e-Imtiaz (Order of Excellence) is the highest honor granted to any civilian in Pakistan for acknowledging the country’s accomplishments and excellent services.
Asif Ali Zardari
Net Worth: $1.8 billion
Source of income: Diversified, Agriculture, and Real Estate,
Asif Ali Zardari is a $1.8 billion net worth Pakistani politician. He is one of the top 10 richest people in Pakistan. Previously, served as Pakistan’s 11th President from 2008 to 2013, and is now the Pakistan Peoples Party’s co-chairman.
Nevertheless, even before he entered politics, he began to produce his money. The bulk of Zardari’s fortune comes from Pakistan’s sugar mills, as well as other businesses in which he is involved. After the assassination of his wife, Benazir Bhutto, who served as Pakistan’s prime minister in the 1990s, Zardari became country president.
The calculation, however, does not include his recorded states in Surrey, London’s West End, Normandy, Manhattan (a Belaire Apartments condominium), and Dubai, as well as a Normandy chateau of the 16th century.
Net worth: $1.5 billion
Source of Income: Bahria Town
Malik Riaz, a Pakistani real estate tycoon, is the director of the Bahria Group. Born to an unsuccessful contractor, due to ups and downs in his company, Malik Riaz was unable to pursue his studies after Matriculation. He began working with the Military Engineering Service as a clerk after matric. He set up his contacts there and learned to work with the system.
He later set up a construction company under Hussain Global’s banner in 1995. Malik Riaz signed an agreement with the charitable trust of Pakistan Navy, known as the Bahria Foundation, to establish a gated community known as Bahria City, with the aid of his contacts. The entire shareholding was transferred to Malik Riaz by the Pakistan Navy in the 2000s.
Mian M. Nawaz Sharif
Net worth: $1.4 billion
Source of Income: Sharif Group, Ittefaq Group, Real Estate
Former Prime Minister Nawaz Sharif is also one of the top 10 richest people in Pakistan. He’s the director of Ittefaq, Pakistan’s leading steel producers. But the family of Sharif also invests in the food, sugar and transportation industries. His net worth is as high as $1.4 billion. The estimate does not include the undeclared properties, especially those in England, UAE, and the U.S.
Nawaz Sharif is believed to have collected a massive fortune during his administration. His figures of net worth do not include his undeclared property in the United Kingdom, the UAE and the United States. To date, there has not been an accurate estimate of his total wealth.
Net worth: $1 billion
Source of Income: Schon Properties
Nasir Schon, together with his brother Tahir Schon, is the owner of Schon Properties. Founded in 1971, the company was a tremendous success when it launched its UAE real estate projects. In the UAE, the company received many awards including the CNBC Arabian Property Award and the Bestway Office Design Award. He’s the sixth richest man in Pakistan with a net worth of $1 billion.
Rafique. M .Habib
Net worth: $0.95 billion
Source of Income: Habib Bank Limited, Habib Metro, Habib University, Indus Motors Company
House of Habib’s leading man is the most famous name in Pakistan’s business sector. The business group owns multiple companies such as Habib Bank Limited, Habib Metro, Habib Public School, Habib University, Indus Motors Company, and many more. Rafique M. Habib is Pakistan’s 9th richest man with a net worth of $0.95 billion.
Net worth: $0.9 billion
Source of income: Kohinoor-Maple group, Saigol motors, and Sajeel motors, Kohinoor textile mills & power company
Tariq Saigol – the owner of the Kohinoor-Maple company, Saigol engines, and Sajeel engines – ranks 10th on the list of Pakistan’s wealthiest $0.9 billion net businessmen. He has also invested heavily in the textile mills of Kohinoor, Pak electron, and the power company of Kohinoor. He also ranks among the top 10 richest people in Pakistan.