Pakistan is still producing innovative leaders in the ever-changing field of entrepreneurship who not only redefine success but also make a lasting impact on the world economy. Let's examine the top five Pakistani business success stories as we dig into the most recent data for 2024, arranged according to their financial prowess and effect.
Malik Riaz Hussain – Bahria Town
The creator of Bahria Town, the biggest privately held real estate development enterprise in Pakistan, is the immensely controversial Malik Riaz Hussain. Allegations of bribery of Pakistani judges, generals, journalists, and politicians in exchange for free or inexpensive land to develop his housing program have tarnished his real estate business.
In Rawalpindi, Riaz began his work as a clerk for MES Construction. After becoming a contractor in the 1980s, Riaz's construction business, Hussain Global, signed a contract in 1995 to build a gated community for the Pakistan Navy, which was supported by the Bahria Foundation, a charity trust.Although Riaz received legal notice from the Navy's Bahria Foundation to stop using the words "Bahria"/Maritime/Navy for his company's construction projects, he continued to expand Bahria Town Rawalpindi, giving army generals and politically connected individuals gifts of mansions and bungalows.
Childhood
Malik Riaz was born into a reasonably well-off family as a private contractor. But after matriculating, Riaz was forced to leave high school since his father's business failed. Later, he worked for the Military Engineering Service as a clerk and frequently as a part-time painter. Later on, he relocated to join the military as a contractor. Dr. Ayesha Siddiqa claims that Riaz gained knowledge on how to "work the system". Hussain Global was the name of the construction company that Riaz founded in 1995. The Pakistan Navy gave Hussain full ownership of the company in 2000. Hussain then sued Riaz for breach of contract; the Supreme Court found in Hussain's favor.
Career
Malik Riaz has aggressively grown his commercial empire under the Bahria Town Group brand; nevertheless, a trial mandated by the Supreme Court has determined that Riaz is not permitted to use the title Bahria in relation to his gated communities. In terms of his business methods, Riaz is regarded as liberal. But it would be incorrect, in the words of Dr. Ayesha Siddiqa, "to think that he is defined by religiosity and traditionalism." He employs a large number of women, particularly in middle and senior management, according to the biographies of his staff members, as he considers them to be "hard-working, efficient, and diligent".
Projects by Bahria Town can be found in Islamabad, Murree, Karachi, Lahore, and Rawalpindi. The largest private project in Pakistan, also owned by Malik Riaz, is called Bahria Town Karachi 2. Riaz had spoken about Ahlat Ziar, his previous partner, and stopped things. Despite being his former partner, Ahlat Ziar does not own any real estate in Bahria Town. "Malik Riaz is a living fraud and a scam," Ahlat Ziar cited, without adding anything else.
Net Worth
He is estimated to have a net worth of approximately US$1.5 billion as of November 1, 2019.
Sir Anwar Pervez – Bestway Group
Born in Pakistan, Sir Mohammed Anwar Pervez is a British billionaire businessman. He is Bestway Group's founder and chairman.
Childhood
On March 15, 1935, Mohammed Anwar Pervez was born in Rawalpindi, which was then ruled by the British, into a family who farmed for sustenance.
He completed his schooling in Pakistan. Forman Christian College was his place of study. At age 21, he relocated to the United Kingdom in 1956.
Career
His first position was as a telephone operator for PTCL, a state-owned telecom provider. He used to labor there for Rs. 96 a month, the majority of which was spent on anti-malarial drugs.
He moved to England in 1956. He went on to work in Bradford as a bus driver and conductor there. He made between £16 and £18 a week working double shifts seven days a week.
He opened Kashmir, the first convenience store for Muslims, in Earls Court, London, in 1963. By the early 1970s, he had renamed the business Bestway and was running eleven convenience stores in and around West London, catering primarily to Asian customers and specializing in Asian cuisine.
Pervez established the first wholesale warehouse for Bestway in Acton, West London, in 1976. Since then, the business has expanded to become a multibillion dollar industry, with Bestway ranking as the second-biggest independent wholesaler in the UK as of 2014. For £620 million in 2014, his group purchased 774 pharmacies from The Co-operative Group.
Personal Life
Currently, he is wed to Sabiha Qasim, his second wife, with whom he had four children. Bestway's directors include a son from his first marriage and another from his second.
The son of Pakistani politicians Abida Hussain and Fakhar Imam, Syed Abid Hussain Imam, wed their daughter in 2012.
Awards
In 1992, Pervez was appointed as an Officer of the Order of the British Empire, and in 1999, he was named a Knight Bachelor.
For his services to Pakistan, the Pakistani government granted him the title of Hilal-i-Pakistan in March 2000.
Net Worth
Pervez was the richest British citizen born in Pakistan in 2020 with a net worth of £3.1 billion, according to the Sunday Times Rich List. His family's assets were listed as £1.364 billion on the 2021 list, ranking them 125th.
Shahid Khan - Flex-N-Gate
Sports tycoon and billionaire businessman Shahid Rafiq "Shad" Khan is an American-Pakistani. He is the proprietor of Flex-N-Gate, an American company that supplies auto parts. In addition, Khan co-owns All Elite Wrestling (AEW), an American wrestling organization, with his son Tony Khan. Khan also owns the NFL's Jacksonville Jaguars and the Premier League's Fulham F.C.
Childhood
Khan was born into a middle-class family in the construction business in Lahore, Pakistan. His father, Rafiq Khan, had owned a store that supplied survey and drawing supplies, while his mother, who is now retired, taught mathematics. Tariq Rafiq Khan, the brother of Shahid Khan, passed away in his early 20s.
At the age of sixteen, Khan relocated to the United States in 1967 to attend the University of Illinois at Urbana-Champaign.His first work in the United States was washing dishes for $1.20 per hour. He arrived in the country and stayed in a $2 room at the campus YMCA. He became a member of the school's Beta Theta Pi fraternity. In 1971, he received his industrial engineering bachelor's degree from Grainger College of Engineering. In 1999, he was granted the Distinguished Alumni Award in Mechanical Science and Engineering.
Career
Flex-N-Gate employed 25,000 people in 2019 and operated 69 production facilities across the US, China, Argentina, Spain, France, Germany, Mexico, and Canada. With $8.9 billion in revenue in 2020, Forbes listed it as the 46th largest privately held American firm. Additionally, automobile News ranks them as the 33rd largest supplier worldwide overall and the seventh largest supplier of automobile parts in the United States.
Flex-N-Gate was fined $57,000 by the Occupational Safety and Health Administration in May 2012 for health concerns at its Urbana business. The United Automobile Workers (UAW) and other environmentalist organizations launched a campaign against Flex-N-Gate and Khan before to the 2012 NFL Draft, bringing forward a number of claims.
Sports and Entertainment
Jacksonville Jaguars: Flex-N-Gate was fined $57,000 by the Occupational Safety and Health Administration in May 2012 for health concerns at its Urbana business. The United Automobile Workers (UAW) and other environmentalist organizations launched a campaign against Flex-N-Gate and Khan before to the 2012 NFL Draft, bringing forward a number of claims.
Subject to NFL clearance, Khan agreed on November 29, 2011, to buy the Jacksonville Jaguars from Wayne Weaver and his ownership group. Later that day, Weaver told Khan that he was selling the team. A verbal pledge to keep the franchise in Jacksonville, Florida was the only information about the contract that was immediately made public. $770 million was paid for the acquisition. On December 14, 2011, the NFL owners unanimously authorized the purchase. On January 4, 2012, the deal was completed, becoming Khan the first person of color to buy an NFL franchise.
Khan sits on the NFL Foundation board.
Khan is one of three owners of NFL teams who were born outside of the country. The other two are Zygi Wilf of the Minnesota Vikings, who was born in Germany, and Kim Pegula of the Buffalo Bills, who was born in South Korea.
Fulham F.C.: Khan mediated the sale of Premier League soccer team Fulham F.C. in London to Mohamed Al Fayed, the club's previous owner, in July 2013. On July 12, 2013, the deal—whose total estimated value was between £150 and 200 million—was consummated. He said that the purchase price of the club was "highly confidential," yet he did not disclose it.
All Elite Wrestling: It was discovered in 2019 that the main financiers of the professional wrestling organization All Elite Wrestling (AEW) are Shahid Khan and his son Tony Khan. Additionally, Tony Khan serves as the promotion's CEO and President.
Black News Channel: For the two years that Black News Channel was in operation, Khan remained the network's principal stakeholder.
Personal Life
Khan follows Islam non-observantly.Before they were married in 1977, Khan dated Ann Carlson (now Ann Carlson Khan) for ten years after they first met at the University of Illinois in 1967.Together, they are parents to Tony Khan, a son, and Shanna Khan, a girl.In 1991, Khan obtained naturalization as an American citizen.
Khan has an apartment in Chicago's Gold Coast neighborhood and a home in Naples, Florida.
The superyacht Kismet belonged to him until September 2023, when he sold it.
Awards
Among the many honors Khan has received from the University of Illinois are the Distinguished Alumnus Award from the Department of Mechanical Science and Industrial Engineering in 1999, the Alumni Award for Distinguished Service from the College of Engineering in 2006, and the Distinguished Service Award from the University of Illinois Alumni Association in 2005, which he shared with his wife, Ann Carlson.
Net Worth
In 2012, Khan was shown as the embodiment of the American Dream on the front cover of Forbes magazine. Khan has a personal net worth of $12.1 billion as of March 2023. He is currently the 291st richest person in the world and came in at number 94 on the Forbes 400 list of the wealthiest Americans in 2021. With a net worth of $9.1 billion, Georg F. W. Schaeffler is the richest auto parts mogul, behind only by Khan.In addition, he is the richest individual of Pakistani descent.
Mian Muhammad Mansha - Nishat Group
Mian Muhammad Mansha is a business tycoon from Pakistan. He is the founder and CEO of the international conglomerate Nishat Group, which is headquartered in Lahore. Mansha and a few members of his close family are among the highest tax payers in Pakistan.
Mansha is the owner of some of the priciest homes in Europe, including one in London's gated community of St. Georges Hill.
Childhood
Mansha's family moved from Punjab to Kolkata, Bengal in the 1930s. Following British India's 1947 Partition, the family relocated to Punjab, Pakistan. The Nishat Textile Mills were subsequently established by the cotton ginning business that Mian Muhammad Mansha's father had founded.
Mansha was born into a prosperous family in Faisalabad. After completing his elementary education at Sacred Heart Convent in Faisalabad, he enrolled in Hendon College in London to pursue a business administration degree.
Career
He was one of Pakistan's most well-known businesspeople when he first began his profession. His father and uncles founded Nishat Textiles Mills in 1951. 1968 saw him complete his studies in London, and a year later his father passed away. In 1969, Mian Muhammad Mansha began working for the family firm. Eventually, he broke away from his uncles and assumed control of it.In 2013, he was valued at US$2.5 billion. In addition to making significant acquisitions, he was growing his Nishat Textiles business at the same time. The biggest fabric manufacturing facility in Pakistan is called Nishat Textiles Mills.
In Nishatabad, near the city of Faisalabad, Mansha established the biggest textile complex in Pakistan consisting of seven factories after 1979. Later on, in Chunian, which is close to Lahore, there was another textile facility.
The 1990s administrations' push for privatization was very beneficial to Mansha's business. He executed several buyouts and acquisitions during this time, including at least one hostile takeover. When all was said and done, Mansha had taken a majority stake in Adamjee Insurance, the biggest non-life insurer in the nation. In addition, Nishat Mills purchased two thermal power plants that were formerly owned by the Saigol family and were close to its D. G. Khan Cement Factory in Punjab's Dera Ghazi Khan District. According to business analysts in Pakistan, the purchase of two thermal power plants would guarantee the Nishat Group's Dera Ismail Khan Cement Factory a steady supply of electricity.He expanded his Nishat Textiles segment—Nishat Textile Mills is Pakistan's largest fabric manufacturing company—while making these significant purchases.
All of these accomplishments, though, may take a back seat to Mansha's masterstroke: the purchase of MCB Bank Limited, often known as Muslim Commercial Bank, one of Pakistan's most lucrative banks. He had to overcome a number of obstacles to compete with multiple other bids in a privatization process, but in the end he persisted. Mansha has overseen MCB Bank's growth and execution, positioning the bank as one of the top financial service management teams in the Indian subcontinent. With a huge workforce of almost 18,000 employees, MCB Bank is currently among the top 4 banks in the nation and leads in terms of market capitalization.
Mansha has now ventured into new territory, entering into agreements to sell its excess electric power capacity produced at Nishat's different power facilities with the state-owned Water and Power Development Authority (WAPDA). As a result, Nishat Power was established, and today it is a thriving enterprise with Mansha's son occupying a prominent position on the executive board.
2008 saw the beginning of an alliance between MCB Bank and Maybank of Malaysia. Presently, Maybank owns 20% of MCB Bank. The chairman of MCB Bank, Mian Muhammad Mansha, stated in 2009 that his bank had already brought in 970 million US dollars from Malaysia as a result of an agreement with May Bank, Malaysia, and that he was successful in continuing to bring foreign investment to Pakistan. He was chosen to have a special lunch with the Financial Times of the United Kingdom. In 2010, he ranked as the richest person in Pakistan and the 937th richest person worldwide, according to Forbes statistics.
With MCB Bank providing $700 million in funding and another $300 million coming from global markets, Mansha hopes to buy a well-known bank in Indonesia and potentially even the Middle East. In addition to the Nishat Group's ownership of a vehicle leasing company in Kazakhstan, MCB Bank already operates internationally. Major infrastructure projects in Pakistan are also planned, including the building of sea ports and electric power plants that rely on the production of electricity from coal.
Awards
Mansha is one of the most powerful and important individuals in Pakistan; she currently sits on the boards of several notable institutions. Pakistani President Pervez Musharraf granted him the Sitara-e-Imtiaz civil award on March 23, 2004. Nishat Textile Mills Limited, one of Mansha's businesses, is Pakistan's biggest exporter.
Mansha is a member of the Atlantic Council's board of directors as well.Net Worth
Mansha's net worth of US$2.5 billion, or Rs 200 billion at the time, earned him the title of richest Pakistani in 2008, according to Daily Pakistan. Mansha became the first Pakistani to appear on Forbes' list of billionaires in March of 2010.
In addition to a turboprop and an eight-seater jet, Mansha has a red Mercedes E-class, a convertible Jaguar, a Porsche turbo, a BMW 750, a Range Rover, and a Volkswagen.
Sadruddin Hashwani - Hashoo Group
Entrepreneur Sadruddin Hashwani is from Pakistan. He founded the Hashoo Group, a conglomerate best known for Pearl-Continental Hotels & Resorts, and currently serves as its chairman.
Childhood
born into a family of Khoja Isma'ili in Karachi, Sind Province, British India. Early in the 20th century, Hashwanis left Persia together with the third Ismaili Imam Agha Khan and settled in Lasbela, Balochistan. After completing his studies at the University of Karachi, Hashwani and his brother AHSAN IQBAL started the Hassan Ali Company in 1960. It grew to be the biggest cotton trading enterprise in Pakistan by the 1970s. But in 1973, the business was nationalized. He opened the first Holiday Inn in Karachi in 1978, followed by one in Islamabad in 1981. In the 1990s, Marriott refurbished both of the properties. Hashwani successfully bid in 1985 for the bulk of Pakistan Services Limited's shares. At the time, Pakistan Services Limited operated four Inter-Continental hotels, which were later renamed as Pearl-Continental Hotels.
2014 saw the release of Hashwani's best-selling memoir, Truth Always Prevails. At a press conference in May 2011, he declared his support for Pakistan and its institutions, particularly the military, and expressed confidence in the talents of Pakistanis. In April 2016, he and his son, Murtaza Hashwani, were referenced in the Panama Papers.
Awards
The first businessman to earn Pakistan's highest civilian honor, the Nishan-e-Imtiaz, is Sadruddin Hashwani.
The highest award bestowed upon any citizen in Pakistan in recognition of their accomplishments and exceptional services to the nation is the Nishan-e-Imtiaz, or Order of Excellence. At the Pakistan National Day ceremony held at the President's House in Islamabad on March 23, 2019, President Arif Alvi of Pakistan presented Hashwani with the honor.Net Worth
Sadruddin Hashwani's net worth was estimated to be between hundreds of millions and over a billion dollars as of my most recent assessment in January 2022. Please take notice, though, that due to changes in the value of investments, assets, and other factors, net worth statistics are subject to change over time. I suggest examining reputable financial sources or databases for the most up-to-date details regarding Sadruddin Hashwani's net worth.
The extraordinary talent, tenacity, and spirit of entrepreneurship that characterize Pakistan's business environment in 2024 are highlighted by these five success stories. These trailblazing visionaries are inspiring a new generation of entrepreneurs to dream big, create fearlessly, and contribute to the wealth and advancement of their country and the globe at large as they continue to carve out new paths and push the envelope of success.
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