Pakistan’s Elite Class Amidst Wealth Disparities
In a nation primarily divided into middle and lower-income groups, a small segment of elites in Pakistan is amassing immense wealth. According to the Global Wealth Indexes of 2018, the elite class represented a mere 0.1 percent of the country’s total wealth, significantly overshadowed by the majority. Despite having only a few representatives on the Forbes list of billionaires, the wealth amassed by these individuals is noteworthy.
Top 10 Richest Men in Pakistan – 2024
Based on their net worth, we have compiled the list of the top 10 richest people in Pakistan in 2024.
1. Shahid Khan – A Journey from Humble Beginnings to Billionaire
Net worth: $8.3 billion Source of income: Flex-N-Gate, Jacksonville Jaguars, Fulham F.C.C., All Elite Wrestling
Shahid Khan, an American businessman born in Pakistan, holds the title of the richest man in Pakistan with a staggering net worth of $8.3 billion. Raised in Lahore’s middle-class family, Khan’s journey began with washing dishes in a local restaurant in the United States. His entrepreneurial spirit led him to establish Flex-N-Gate Corporation, propelling him to success. Today, he owns Jacksonville Jaguars, Fulham F.C, and has ventured into All Elite Wrestling.
2. Mian Mansha – Pioneering Success in Textiles and Banking
Net worth: $2.7 billion Source of income: Nishat Group, MCB Ltd, Adamjee Group, Nishat Chunian Group, DG Khan Cement
Mian Mansha, the first Pakistani billionaire, hails from a family that ventured into textiles in 1951. He is the owner of Muslim Commercial Bank (MCB) and the founder of the multinational conglomerate Nishat Group. Beyond textiles, Mansha’s business interests extend to power plants, cement, and insurance, making him a significant player in Pakistan’s economic landscape.
3. Sir Anwar Pervaiz – A Tale of Discipline and Integrity
Net worth: $4.6 billion Source of income: Bestway Group, UBL
Sir Anwar Pervaiz, born in a low-income family, moved to the UK and worked as a bus driver before venturing into business. He is the founder of Bestway Group and a major shareholder in United Bank Limited (UBL). Knighted by the Queen in 1999, Sir Anwar is a distinguished figure in the UK, known for his discipline and integrity.
4. Saddrudin Hashwani – Diversifying Success Across Industries
Net worth: $3.4 billion Source of income: Marriott Hotel, Pearl Continental Hotel, Orient Petroleum
Sadruddin Hashwani, a prominent figure in the hospitality industry, began his career in cotton trading in 1960. Today, his Hashoo Group operates across diverse sectors, including real estate, oil & gas, hospitality, IT, ceramics, and pharmaceuticals. Hashwani’s contribution to the hospitality industry earned him the prestigious Nishan-e-Imtiaz (Order of Excellence) in Pakistan.
5. Asif Ali Zardari – Politician and Business Tycoon
Net worth: $1.8 billion Source of income: Diversified, Agriculture, and Real Estate
Asif Ali Zardari, a politician and former President of Pakistan, boasts a net worth of $1.8 billion. Involved in diverse businesses, including sugar mills, Zardari accumulated wealth even before entering politics. His presidency followed the tragic assassination of his wife, Benazir Bhutto.
6. Malik Riaz – Real Estate Magnate of Bahria Town
Net worth: $1.5 billion Source of Income: Bahria Town
Malik Riaz, a real estate tycoon and director of the Bahria Group, transformed challenges into opportunities. Starting as a clerk in the Military Engineering Service, Riaz’s journey led to the establishment of Bahria City, a gated community. His net worth of $1.5 billion reflects his significant impact on Pakistan’s real estate landscape.
7. Mian M. Nawaz Sharif – Steel, Real Estate, and Political Legacy
Net worth: $1.4 billion Source of Income: Sharif Group, Ittefaq Steel, Real Estate
Former Prime Minister Nawaz Sharif, a key player in Pakistan’s political landscape, is also among the top 10 richest individuals. As the director of Ittefaq Steel, Sharif’s family investments extend to food, sugar, and transportation industries, accumulating a net worth of $1.4 billion.
8. Nasir Schon – Real Estate Success with Schon Properties
Net worth: $1 billion Source of Income: Schon Properties
Nasir Schon, along with his brother Tahir Schon, owns Schon Properties. Their success in the real estate sector, especially in the UAE, has earned them recognition and a net worth of $1 billion, making Nasir Schon the sixth richest man in Pakistan.
9. Rafique M. Habib – Business Mogul of the House of Habib
Net worth: $0.95 billion Source of Income: Habib Bank Limited, Habib Metro, Habib University, Indus Motors Company
Rafique M. Habib, a leading figure in the House of Habib, oversees multiple companies, including Habib Bank Limited and Indus Motors Company. With a net worth of $0.95 billion, he stands as the ninth richest individual in Pakistan.
10. Tariq Sehgal – Diverse Investments in Kohinoor-Maple Group
Net worth: $0.9 billion Source of income: Kohinoor-Maple group, Sehgal motors, Sajeel motors, Kohinoor textile mills & power company
Tariq Sehgal, the owner of Kohinoor-Maple group, Sehgal motors, and Sajeel motors, secures the tenth position among Pakistan’s wealthiest with a net worth of $0.9 billion. His significant investments include textile mills and power companies.
In conclusion, these individuals not only showcase the diversity of wealth sources in Pakistan but also represent the resilience and entrepreneurial spirit that have driven them to the pinnacle of success. The journey of each billionaire is marked by determination, hard work, and the ability to seize opportunities, contributing significantly to Pakistan’s economic landscape.