The Richest Man in Pakistan (2023 Updated List)

The elite class of Pakistan accumulates massive wealth in the country, and the number of Pakistani billionaires making to Forbes list is also increasing every year. Although Pakistan cannot compete with neighboring country India in the Forbes race, its billionaires are getting richer day by day. In the richest Pakistani man list people from real estate businesses, agricultural landowners, manufacturing businesses, and politicians are included. Here is an updated list of “Pakistani Richest Men” starting with the wealthiest among them!

Richest Man of Pakistan

Shahid Khan

Shahid Khan the owner of Flex-N-Gate, Jacksonville Jaguars, and All Elite Wrestling was declared the richest Pakistani man in 2019. With a worth of around $8.3 billion, he holds the status of the richest Pakistani man. Shahid Khan’s major income comes from Flex-N-Gate. Flex N Gate is a big name in the automotive industry with more than 77 plants and around 24000 employees worldwide.

Shahid Khan was born to a middle-class family settled in old Lahore. After getting a basic education from Lahore, he moved to America for higher studies. Like many other foreign students, he did many jobs like dishwashing to make both ends meet. Then he joined Flex-n-Gate as an engineering director and after 2 years he managed to buy that company. After entering the auto parts manufacturing business, he never looked back and now he is the co-owner of many other businesses with his son.

In addition to Flex-N-Gate, Shahid Khan owns the Jacksonville Jaguars which are worth 770 million. Also, he owns Fulham F.C in the English premier league which is worth around $300 million. With his son Tony Khan, he launched All Elite Wrestling. Shahid Khan is ranked as the 490th richest man in the World.

Shahid Khan is married to Ann Carlson, whom he met at university. The couple has two children together, son Tony Khan and daughter Shanna Khan. Shahid khan owns properties in Pakistan, Nepal, and Florida. Also, he is the owner of a yacht named Kismet in superyachts.

Other Top 9 2023‘s Richest Pakistani Men

1. Sir Anwar Pervaiz

Sir Anwar Pervaiz is the richest Pakistani man in the UK. In 2019 his total declared worth was around $4.6 billion. Anwar Pervaiz is a self-made businessman who started his career from zero and now he is recognized among the best businessmen around the world. Anwar was born in 1935 to a low-income family in Rawalpindi. He studied at the Forman Christian College Lahore and worked as a telephone operator in the Pakistan Telecommunication Company.

In 1956 he moved to the UK where he served as a bus conductor and bus driver for many years. By 1963 he managed to open a convenience store “Kashmir” in London for the Muslim community of London. With unending hard work and struggle he expanded his business very quickly and by the early seventies, he owned more than 10 convenience stores in West London. He changed his business name to Bestway and his convenience stores mainly dealt with the specialized Asian foods like spices, lentils, meat, etc.

During this period he introduced his many family members to the UK. While telling his success story Perviz stated that he attributes his success to 1% chance and 99% discipline and integrity. In the late 70s, he opened the first Wholesale warehouse in London, and according to reports, Bestway was the second-largest independent wholesaler in the UK in 2014.

For his impressive achievement in business and social services, he was invited by the queen in 1999, and also he is a permanent member of the state of Lords. For his best business practices and services for the UK community, he has been awarded the Barclay Business & Commerce Quality Award, EMMA’s Business personality of the year, and Outstanding Business Achievers Grocer Cup. Now his business deals with Pharmaceuticals, Steel, and banking. He is also a big shareholder in theUnited Bank Limited UBL.

2. Sadruddin Hashwani

Sadruddin Hashwani is one of the most successful entrepreneurs in the history of Pakistan. He is the Chairperson of Hashoo Group, a conglomerate best known for the Pearl Continental Hotel and Resorts. With a worth of around $4.3 billion, he stands among the top ten billionaires of Pakistan. Hashwani was born in Karachi and completed his education at Karachi University.

In 1860 he with his brother founded the cotton trading company “Hassan Ali Company ”. He expanded his business so quickly within a few years, that he became the owner of the largest cotton trading company in Pakistan. Later on, he faced a major setback when the company was nationalized in 1973.

A few years later, Hashwani launched the Hotel Inn in Karachi and then in Islamabad. He got impressive success in the hotel industry and he converted his hotel’s name to Marriott. He is also the biggest shareholder in Pakistan Services Limited and owned four five-star hotels across the country. The chain of inter-continental hotels was rebranded as the Pearl-Continental which is today the biggest chain of five-star hotels in Pakistan.

Hashwani is known for his clear money trail and business record and he is the first businessman to receive Pakistan’s Top Civilian Award. In recognition of his unforgettable services to the Pakistan and Pakistani community around the world, he has been awarded the highest civil award of Pakistan “Nishan-e-Imtiaz ”.

3. Mian Mansha

Next on our list of Pakistani richest men is Mian Mansha. The owner of the Muslim Commercial Bank and the Nishat Group is next on the list with a total worth of around $2.7 billion. Mian Mansha was born in 1947 and he belongs to a migrant family. His family migrated from present India to Pakistan in 1947.

The major source of income for Mian Mansha is the textile business. His fathers and uncles laid the foundation of the textile business “Nishat Mills”. Mian went to the UK for higher studies and returned in 1968. In 1969 his father died and Mian Masha joined his family business. A few years later he parted ways with his uncles and took over his family business at a very young age. Today Nishat group is the largest fabric-producing textile group in Pakistan.

Also, Nishat textiles are the largest cotton fabric exporter and also the largest private employer business in the country. In addition to the textile business, he is the owner of the Muslim Commercial Bank, one of the most lucrative private banks in the history of Pakistan.

Mian Mansha has also invested a lot of money in the power plant industry and cement industry in Pakistan. His company D.G Khan Cement with a total production of around 22,400 tons per day is among the largest cement manufacturers in Pakistan. He also owns Nishat Chunian Power & Nishat Companies and Adamjee Group of companies.

4. Asif Ali Zardari

Asif Ali Zardari the Former president of Pakistan and Co-chairman of the Pakistan Peoples Party is among the ten richest men in Pakistan. He served as president of Pakistan from 2008 to 2013 and now he is considered the most active politician in Pakistan. The declared worth of Asif Ali Zardari is $1.8 billion.

A major part of his wealth comes from the Sugar mills and Agricultural lands in Sindh. Asif Ali Zardari is the son of Hakim Ali Zardari, a prominent landowner in Sindh. He was born to a financially stable family having multiple businesses in Karachi along with agriculture production. Asif Ali Zardari married Benazir Bhutto in 1987 and became an active member of Pakistani politics.

Zardari was criticized for his involvement in mega corruption scandals during the Government tenure of his Wife Benazir Bhutto. The declared wealth of Zardari mainly comes from the agriculture and sugar mills in Pakistan. However, he owns properties in Survey (the west end of London), Normandy, and Manathann in Bel Air Apartments. In 2007, Zardari received around $60 million through the offshore companies in his Swiss accounts.

5. Malik Riaz

Malik Riaz is the most successful Real Estate Tycoon in Pakistan. His total worth is around $1.2 billion and he also stands among the top ten billionaires of Pakistan. He is the Director of Bahria Group, the largest Real Estate Group in Pakistan. Malik was born in Sialkot and his father was a contractor by profession. Due to great financial loss, his father was unable to provide him with the best education.

He struggled throughout his childhood and couldn’t go to college due to the financial condition of his family. After matriculation, Malik joined the Military Engineering Services as a clerk. With his unmatched vision and interest in contract-based businesses, he learned a lot and developed contacts. He started the business with small-scale contracts and gradually expanded the business.

In 1995 he launched a construction company under the name “Hussain Global’s”.Later on, he signed a contract with Pakistan Navy’s trust Bahria Foundation and laid the foundation of the mega real estate project “Bahria City”. Bahria Town is a gated community built in multiple cities in Pakistan. Malik says that his vision was to provide a healthy and secure lifestyle to the elite and upper-middle-class community of Pakistan. In 2000, Malik Riaz bought all the shares of Bahria Town.

6. Mian M. Nawaz Sharif

Mian Muhammad Nawaz Sharif is the former prime minister of Pakistan and stands among the 10 richest men in Pakistan. Nawaz Sharif was born to a successful business family that migrated from Indian Punjab to the Pakistani Punjab before the partition. His father Muhammad Sharif and his uncle founded Ittefaq Industries, the largest steel production unit in 1940.

Nawaz Sharif is the director of Ittefaq industries. He joined politics in the 1980s and was elected as the prime minister for Pakistan three times. In addition to Ittefaq Industries, Nawaz Sharif has multiple businesses in the Food industry, transportation industry, and real estate.

He is the director at Sharif Medical city comprising a Hospital and private medical college Sharif Medical College. The declared worth of Nawaz Sharif is $1.4 billion. However, it does not include the worth of properties he owns in London, UAE, and the USA. Nawaz Sharif faced major corruption charges and was disqualified for a lifetime by the Supreme Court of Pakistan in 2018.

7. Nasir Schon

Nasir Schon is a renowned businessman in Pakistan. He along with his brother founded the Schon Properties. Both of them are known for introducing new business ventures and ideas in the corporate sector of Pakistan. He launched his real estate company in 1971. He was successful in Pakistan, but what made him what he is today was the UAE real estate projects launched by his company. He achieved tremendous success and suddenly he was added to the list of most successful businessmen in Pakistan.

In 1979, after the dismissal of the Pakistan Peoples Party government, Schon moved to Dubai in self Exile. They have launched mega real estate projects in Dubai. Currently, they are working on the “Dubai Lagoon” project. Due to their close ties with the Bhutto Family, the Asif Ali Zardari Schon group faced many political challenges in Pakistan. Their properties were auctioned during the Nawaz’s regime and they still strive to get their properties back.

The peak period of the Schon group was in Pakistan is 1982 to 1995 when they owned multiple businesses like Pak-China fertilizers, Schon textiles, Schon bank, and many more. Due to unmatched success in the real estate business in UAE, he was awarded the CNBC Arabian Property Prize.

He is also known for his participation in green energy projects and for introducing sustainable technologies to the business. Since 2008, the Schon group has been incorporating the Leadership in Energy & Environmental Design (LEED) standards in their businesses. The declared worth of the Schon Group is around 1 billion and he is the 8th richest Pakistani man.

8. Rafique. M . Habib

Rafique Muhhamd Habib is a Karachi-based businessman who is the group chairman of the famous conglomerate company “House Of Habib” in Karachi. He belongs to a financially-stable business family in Pakistan. Rafique Muhammad Habib is the son of the Mehmoadali Habib who founded the Habib Bank Limited.

The “House Of Habib” business group was founded by the father of Rafique Muhammad Habib. The family business was led by his father and uncle and now Rafique Muhammad Habib is the leader of the group. He has also been a member of the Board Of governors of “The Pakistan Institute Of Management”.

House Of Habib included multiple businesses like Habib Bank Limited, Habib Insurance Company Ltd, Habib Bank AG Zurich, and Toyota Indus Motor Company. Also, they are now in the manufacturing business and Shabbir Tiles and Ceramics Ltd is also part of the House of Habib. The net worth of the House of Habib is $0.95 billion.

9. Tariq Saigol

Tariq Saigol is the chairperson of Kohinoor Maple Leaf Group and with a worth of $0.8 billion ranks the 10th on the list of the richest Pakistani man. He is the owner of the conglomerate company Saigol Group also known as the Kohinoor Group. The major source of income is the textile mills owned by the Saigol group. He is the owner of Saigol Motors, Sajeel Motors, and Pak electron company.

Mr. Saigol was born in Lahore and he has studied in leading institutions in the city. He studied at the Aitchison College Lahore and then graduated from Government College Of Lahore (present GC University). He joined the Kohinoor Chemical Complex in 1979 and after the trifurcation of the group, he laid the foundation of the Saigol Group. Now he is among the most successful businessmen and entrepreneurs in Pakistan.

FAQs

Who is the No. 1 richest man in Pakistan?

Shahid Khan is the No 1 Pakistani Rich man. He is a US-based Pakistani businessman who is the owner of Flex-N-Gate, Jacksonville Jaguars, and All Elite Wrestling.

Is Malik Riaz a billionaire?

Yes, Malik Riaz with a net worth of around $1.5 billion is a Pakistani billionaire. The founder of Bahria Group Malik Riaz is the most successful real estate tycoon in the history of Pakistan.

Wrapping Up

According to this updated list, Shahid Khan is the richest Pakistani man in 2023. However, the list of Pakistani billionaires is updated every year. Over the past few years, no major changes are observed in the list.