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Top 5 Richest persons of Pakistan 2018

No.1: Shahid Khan (شاہد خان(

Net worth ₨ 720 billion (US$7.2 billion) (April 2018)

Shahid Khan ( شاہد خان‎; born July 18, 1950), also known as Shad Khan, is a Pakistani-American billionaire and business tycoon. He is the owner of the Jacksonville Jaguars of the National Football League (NFL), the English Football League Championship team Fulham F.C., and automobile parts manufacturer Flex-N-Gate in Urbana, Illinois.

Khan was featured on the front cover of Forbes magazine in 2012, associating him as the face of the American Dream. As of August 2017, Khan’s net worth is over $8.7 billion. He is ranked 70th in the Forbes 400 list of richest Americans, and is overall the 158th wealthiest person in the world. He is also the richest person of Pakistani origin.

NO. 2: Mian Muhammad Mansha (میاں محمد منشاء‎)

Net worth ₨200 billion (US$1.9 billion)-(Nishat Group)

Mian Muhammad Mansha (میاں محمد منشاء‎) is a Pakistani business magnate and billionaire. He is the founder and CEO of the Lahore-based international conglomerate Nishat Group. Mansha has been the richest and highest tax-paying individual in Pakistan. His name appeared in Paradise Papers in November 2017 having a link to offshore companies.

Early life and career

In the 1930s, the Mansha family had migrated to Bengal from Punjab. After 1947 Partition of British India, the family returned to Punjab, Pakistan. Mian Muhammad Mansha’s father started a cotton ginning business which later became the Nishat Textile Mills. Mansha was born in Lahore to a wealthy Chinioti Punjabi family, his privileged upbringing allowed him to enjoy an early business education at the University of Punjab in Lahore. Although his childhood was spent in Faisalabad from where he also started his career as one of the most prominent industrialists of Pakistan. Nishat Textiles Mills was started in 1951 by his father and uncles. His father died one year after he returned from London after finishing his studies there in 1968. Mian Muhammad Mansha joined the family business in 1969 and eventually he split with his uncles and took over the family business. He was worth US $2.5 billion till 2013. Apart from making large acquisitions, he was simultaneously expanding his Nishat Textiles segment. Nishat Textiles Mills is Pakistan’s largest fabric manufacturing mills.

Business growth

After 1979, Mansha set up Pakistan’s largest textile complex of seven mills in Nishatabad in the city of Faisalabad. In later years, another textile complex followed in Chunian near Lahore.

Mansha’s conglomerate greatly benefited from the privatization drive by the governments of the 1990s. Through this period, he made a number of acquisitions and buy-outs, including engineering at least one hostile takeover. When the dust settled, Mansha had acquired a controlling position in Adamjee Group, the country’s largest non-life insurer. Nishat Mills also acquired two thermal plants near its DG Khan Cement Plants located in Dera Ghazi Khan District, Punjab, previously owned by the Saigol family. Business analysts in Pakistan reportedly said that the acquisition of two thermal plants would ensure uninterrupted power supply to D. G. Khan Cement Plants for the Nishat Group. While going through these large acquisitions, he was simultaneously expanding his Nishat Textiles segment, Nishat Textiles Mills is Pakistan’s largest fabric manufacturing mills.

But all these achievements, perhaps, play third fiddle to Mansha’s master-stroke: the acquisition of one of Pakistan’s most profitable banks, MCB Bank Limited or better known as Muslim Commercial Bank. Competing with several other bidders in a privatization process, there were several challenges to overcome, but ultimately he persevered. Under Mansha’s watch, MCB Bank has demonstrated execution and growth and which has made it one of the premier financial service management teams in the Indian subcontinent. Today, MCB Bank is one of the top 4 banks in the country and leads in terms of market capitalization with a massive employee base of roughly 18,000.

Mansha has proceeded to venture into new terrain, executing deals with state-owned WAPDA (Water and Power Development Authority) to sell its excess electric power capacity generated at Nishat’s various power stations. This led to the founding of Nishat Power, which is now a growing business with Mansha’s son playing a senior role in the company’s executive board.

MCB Bank, in 2008, started a partnership with Maybank of Malaysia. Maybank now has a 20% share in MCB Bank. In 2009, Mian Muhammad Mansha, chairman MCB Bank, said that his efforts were successful in continuing to bring foreign investment to Pakistan and that his bank had already brought 970 million U.S. dollars’ investment into the country from Malaysia following a deal with May Bank, Malaysia. He was selected for a special Lunch with the UK Financial Times newspaper. According to Forbes listings in 2010, he was the 937th richest person in the world & no. 1 in Pakistan.

No. 3: Asif Ali Zardari  آصف علی زرداری

Net worth ₨189 billion (US$1.8 billion)-(Politics, various businesses)

Asif Ali Zardari (Urdu: آصف علی زرداری‎; Sindhi: آصف علي زرداري‎; born 26 July 1955) is a Pakistani politician and the former co-chairperson of Pakistan People’s Party. He served as the 11th President of Pakistan from 2008 to 2013, the first president born after Partition.

The son of Hakim Ali Zardari, a landowner from Sindh, Zardari rose to prominence after his marriage to Benazir Bhutto in 1987, becoming the First Gentleman after his wife was elected Prime Minister in 1988. When Bhutto’s government was dismissed by President Ghulam Ishaq Khan in 1990, Zardari was widely criticized for involvement in corruption scandals that led to its collapse. When Bhutto was reelected in 1993, Zardari served as Federal Investment Minister and Chairperson Pakistan Environmental Protection Council in her second administration. Following increasing tensions between Bhutto’s brother Murtaza and Zardari, Murtaza was killed in a police encounter in Karachi on 20 September 1996. Bhutto’s government was dismissed a month later by President Farooq Leghari, while Zardari was arrested and indicted for Murtaza’s murder as well as corruption charges.

Although incarcerated, he nominally served in Parliament after being elected to the National Assembly in 1990 and Senate in 1997. He was released from jail in 2004 and went into self-exile to Dubai, but returned when Bhutto was assassinated on 27 December 2007. As the new Co-Chairman of the PPP, he led his party to victory in the 2008 general elections. He spearheaded a coalition that forced military ruler Pervez Musharraf to resign, and was elected President on 6 September 2008. He was acquitted of various criminal charges the same year.

As president, Zardari remained a strong U.S. ally in the war in Afghanistan, despite prevalent public disapproval of the United States following the Raymond Davis incident and the Nato attack in Salala in 2011. Domestically, Zardari achieved the passage of the Eighteenth Amendment in 2010, which constitutionally reduced his presidential powers. His attempt to prevent the reinstatement of Supreme Court judges failed in the face of massive protests led by his political rival Nawaz Sharif. The restored Supreme Court dismissed the PPP’s elected Prime Minister Yousaf Raza Gillani for contempt in 2012, after Gillani refused to write to the Government of Switzerland to reopen corruption cases against Zardari. Zardari’s tenure was also criticised for mishandling nationwide floods in 2010, and growing terrorist violence. Following multiple bombings of Hazaras in Quetta in early 2013, Zardari dismissed his provincial government in Balochistan.

Towards the end of his term, Zardari recorded abysmally low approval ratings, ranging from 11 to 14%. After the PPP was heavily defeated in the 2013 general election, Zardari became the country’s first elected president to complete his constitutional term on 8 September 2013. His legacy remains divisive, with political observers accusing his administration of corruption and cronyism. The Zardari-led PPP continues to form the provincial government in Sindh.

NO. 4: Nawaz Sharif ( نواز شریف(

Net worth ₨150 billion (US$1.4 billion)-(Properties)

Mian Muhammad Nawaz Sharif  میاں محمد نواز شریف, born 25 December 1949) is a Pakistani businessman and politician who served as the Prime Minister of Pakistan from 2013 until he was disqualified for life from office by the Supreme Court of Pakistan in 2017. He had previously served as the Prime Minister twice in the 90s (1990–93 and 1997–99) and the Chief Minister of Punjab from 1985 to 1990. He is Pakistan’s longest-serving prime minister.

Born into the upper-middle class Sharif family in Lahore, he is the son of Ittefaq and Sharif Group founder, Muhammad Sharif, and the elder-brother of three-time elected Punjab Chief Minister, Shehbaz. According to the Election Commission of Pakistan He has a net worth of PKR 1.6 billion. Sharif studied business at Government College and later law at the University of Punjab before entering politics in the later 1970s. In 1981, Sharif was appointed by Zia-ul-Haq’s regime as the Minister of Finance for the province of Punjab. Backed by a loose coalition of conservatives, he was elected as the Chief Minister of Punjab in 1985 and re-elected after the end of martial law in 1988. In 1990, Sharif led a conservative alliance to victory and became Prime Minister. Later it was alleged that the election was rigged in favour of Sharif by the Pakistani intelligence agency, the ISI, channeling millions of rupees into his election campaign.

Sharif’s first administration came to an end when then President Ghulam dismissed Sharif on corruption charges. Sharif successfully challenged the dismissal in the Supreme Court, but both men were ultimately persuaded to step down in 1993 by army chief Waheed. Sharif’s second term also saw tussles with the judiciary and the military. Sharif also forcibly relieved General Karamat from command and replaced him with Musharraf in 1998. However, the Kargil Warled to a deterioration of his relations with Musharraf. When he attempted to relieve Musharraf from his command on 12 October 1999, the military instead ousted Sharif’s government and exiled him to Saudi Arabia.

In the 2013 elections, Sharif’s Muslim League formed a coalition government with Sharif Prime Minister in Parliament.

On the security front, in 2015 the military launched an offensive to remove extremist groups in northwestern Pakistan and another paramilitary offensive in 2017. Sharif’s third term is also underpinned by social centrism rather than the social conservatism which guided his prior two terms. Sharif’s third term has brought macroeconomic stability with the help of substantial loans from the IMF, and multibillion-dollar investment deals with China. However, he has faced criticism over rising sovereign debt, which has risen by 35%. Sharif’s family has come under judicial scrutiny over the Panama Papers. After disqualifying Sharif from holding public office in the Panama Papers case in 2017, the Supreme Court ruled the disqualification would be for life in 2018.

 

No.5: Malik Riaz Hussain (ملک ریاض حسین‬)

Net worth ₨150 billion (US$1.4 billion)-(Bahria Town)

Malik Riaz Hussain (ملک ریاض حسین; born February 8, 1954) is a Pakistani businessperson and billionaire. He is the founder and chairman of Bahria Town, the largest privately held real estate development company in Asia. Riaz is currently the 7th richest person in Pakistan, with an estimated wealth of over a billion US$. He is one of Pakistan’s most prominent philanthropists.

Born in Sialkot into a wealthy family which went bankrupt during his adolescence. Riaz started his career as a clerk with a construction company in Rawalpindi. In the 1980s Riaz moved to become a contractor, and in 1995 was contracted to develop a gated community for Pakistan Navy. The contract was eventually terminated, but Riaz went on to develop Bahria Town Rawalpindi.

He expanded his real-estate company and developed gated communities in Karachi, Lahore and Islamabad during the 2000s, developing a combined area of 45,000 square acres. As of 2016, Bahria has 60,000 employees, making it one of the largest private sector employers in Pakistan. Riaz is a controversial figure and has been subject of several corruption investigations. Bahria Town Karachi is the biggest private project of Asia, which is also owned by Malik Riaz.

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