Ever wondered about Arif Naqvi Net Worth, Current Age & Personal Life in 2024?
Arif Naqvi is a Pakistani, Kittitian Businessman. He is well-known in Pakistan because of being a Businessman. Let us take a quick glance at his professional life then we will check his net worth.
Born on July 13, 1960 in Pakistan, He isn’t famous only because of being a Businessman but also because, the founder and chief executive of the Dubai-based private equity firm, The Abraaj Group and Aman Foundation.
Let us Take a Quick Glance at his Net Worth in 2024
Arif Naqvi Net Worth 2024 in Dollars & Pakistani Rupees
At the age of 61, Arif Naqvi Net Worth in 2024 is 2.0M. Following is the approximation of his net worth over multiple years.
- Net Worth in 2024: $2000000
- Net Worth in 2021: $1600000
- Net Worth in 2020: $1280000
- Net Worth in 2019: $1024000
Please note that all these values are in Dollars, If you want to estimate them in Pakistani Rupees, Simply multiply them by the current dollar rate. His Zodiac Star Sign is Cancer which makes him a unique Businessman among his other fellows.
Personal Life of Arif Naqvi Pakistani, Kittitian Businessman
The very first thing to mention about his personal life is his Wife, Fayeeza Naqvi. Both are married and have kids. As Arif Naqvi current age is around 61, Do you expect that he will be having further kids?
Arif Naqvi was a prominent figure in the world of private equity. He was the founder of Abraaj, a global private equity firm that operated in six continents. In his heyday, Abraaj was one of the world’s largest private equity firms.
In 2013, Naqvi was awarded the prestigious Oslo Business for Peace award, the highest form of global recognition for private sector leaders. Other accolades include a place on the United Nations Global Compact’s board, a role as an honorary fellow of the Royal College of Art, and a founding commissioner of the Business and Sustainable Development Commission.
As the founder of Abraaj, Naqvi was able to leverage his wealth to build a multinational business in Dubai. One of his most memorable achievements was helping secure the release of Pakistani sailors held by pirates in Somalia.
Naqvi was also a regular participant at the World Economic Forum in Davos. According to a Financial Times article, he was the first to be asked to attend the conference in the company of Bill Clinton and the former Goldman Sachs CEO Lloyd Blankfein. The company he ran, Inchcape Middle East, netted hundreds of millions of dollars in profits by the time it was sold to Cupola in 2001.
Regardless of the circumstances, Naqvi remains one of the biggest donors to charity. In 2009, he launched the Mustaqbali Foundation to help orphans around the world. This organization refurbished the Pakistan consulate in Dubai and managed the care of more than 1,900 orphans, until it was taken over by the Pakistani government.
He was also the co-founder of the Dubai Art Fair, a multi-million dollar art event that has benefitted artists from across the region.
Arif Naqvi was the founder of a private equity firm called Abraaj. He built his business on the promise that he could make money by investing in projects that help the less fortunate. His business was one of the first of its kind in the emerging market space. In the 15 years that he ran Abraaj, he estimated that he had donated a staggering Rs75 billion globally.
Naqvi was born in Karachi, Pakistan, in 1960. He graduated from the London School of Economics. Before founding Abraaj, he had worked for the largest accounting firm in the world, Arthur Anderson. Later, he joined the Olayan Group, which is Saudi Arabia’s largest trading company.
The Abraaj Group is a private equity firm that operated in six continents. Naqvi is currently fighting extradition charges in the United States.
He was a prominent participant at the World Economic Forum in Davos. His speeches attracted government officials and billionaires to his fund.
Abraaj was a private equity firm that was headquartered in Dubai, UAE. It was one of the top 20 private equity firms in the world.
The Abraaj Group collapsed in 2018. Arif Naqvi faces charges of fraud. One charge accuses him of misappropriating $230 million from the healthcare fund. Another charge accuses him of misrepresenting information to investors.
In addition to his career as a private equity investor, Arif is the founder of a non-profit trust called the Aman Foundation. It invests in a variety of projects in Pakistan. The Aman Foundation’s focus is on education, health, and nutrition.
Naqvi has received a number of awards for his work, including the Oslo Business for Peace Award.
Affidavit to the Election Commission of Pakistan
The Election Commission of Pakistan (ECP) has ruled that PTI has violated the provisions of the Foreign Exchange Act by accepting funds from prohibited sources. According to the ECP, PTI has accepted money from foreign companies that have been declared as prohibited.
The PTI has accused the FIA of harassing party leaders. It also said that the FIA has launched an investigation against the party since August this year. In the meantime, the ruling coalition has called for a quick verdict in the case.
Last week, the Federal Investigation Agency registered a case against former Prime Minister Imran Khan and 11 other people. This includes PTI founding member Akbar S. Babar, Senator Saifullah Niazi, Senator Younus Amir Kayani, and senators Sardar Azhar Tariq and Tariq Shafi.
The FIR filed by the FIA has alleged that the Abraaj Group of Companies (AGC) deposited $2.1 million in a PTI bank account. According to the FIR, the money was transferred to PTI in two transactions. But the Abraaj group did not provide the original source of the funds.
The FIA has also cited the private bank manager. They have alleged that the manager allowed the illegal operation of a bank account. During the course of the investigation, the FIA uncovered several suspicious transactions. However, the bank officials failed to report the suspicious transactions.
Arif Naqvi, a business tycoon, has admitted raising millions of dollars for the PTI. He submitted a forged affidavit to the ECP.
Despite the allegations, the PTI claimed that its funding is not from foreign sources. However, the PTI has contested the FIA’s inquiry into the prohibited funding case in the Islamabad High Court.
Punishment imposed by Dubai’s financial regulator
Arif Naqvi, the founder and former chief executive of defunct private equity firm Abraaj Group, has been ordered to pay a $135 million financial penalty for his role in a scheme to defraud investors. His actions, which led to the collapse of the firm last year, have raised questions about the governance of the financial hub of Dubai.
Naqvi was the head of the Abraaj Group’s Global Investment Committee. He was also central to a $400 million shortfall at two of the firm’s funds, allegedly caused by misappropriation of investor funds. Several other people were involved in the scandal, including Mustafa Abdel-Wadood, who pleaded guilty to securities fraud and racketeering conspiracy.
In January, Naqvi was banned from working in the DIFC, which is the financial center of Dubai. The Financial Markets Tribunal (FMT) rejected his appeal against a decision by the Dubai Financial Services Authority.
DFSA found that Naqvi was personally responsible for orchestrating a series of financial transactions. The DFSA said that he misused and misappropriated investor funds and encouraged other members of the Abraaj group to do the same.
In addition to his fine, Naqvi is barred from any involvement in the financial sector of the DIFC. He is currently in custody in London on bail, pending a court hearing for extradition to the United States in the near future.
Mr Naqvi was accused of orchestrating a complex network of fraudulent activities that involved the Cayman Islands-based Abraaj Investment Management Ltd. AIML, a subsidiary of the Abraaj Group, carried out fund management from the DIFC. It misled investors over a period of years to conceal its financial position.
Abraaj Group founder Arif Naqvi is being accused of one of the largest corporate frauds in history. He was arrested at Heathrow airport and charged with fraud. The US government has also weighed in, accusing him of running a criminal organization.
Abraaj was the first private equity firm to focus on growth markets. It pioneered the idea of impact investing, which involves making money while doing good. In its heyday, Naqvi attracted billionaires like Bill Gates to his fund.
Arif Naqvi was the face of the Abraaj Group, which was one of the largest private equity firms in the Middle East and Asia. He attracted governments and the Bill & Melinda Gates Foundation to invest in his fund.
He became a fixture at the World Economic Forum in Davos. As a result, he was invited to the US Presidential Summit on Entrepreneurship, where he met President Barack Obama. And he appeared in a debate with Microsoft co-founder Bill Gates.
After several successful bets, Naqvi created his own private equity firm, Abraaj Capital Management, and started building a business in the Middle East and Asia. But he also had a knack for using his money in ways that weren’t always ethical.
While it is tempting to focus on his success as an entrepreneur, Naqvi was also accused of misusing his funds and defrauding his suppliers. He allegedly duped his private equity partners, pension funds, and the Bill & Melinda Gates foundation, as well as his own employees.
Naqvi made a name for himself as an innovator in growth markets, and he became an influential figure in the finance world. He was a regular at the World Economic Forum in Davos and attended events hosted by the World Bank and the Gates Foundation.