Shahid Khan was born in Lahore, Pakistan on 18 July 1950, into a middle class family. He is now known especially in the USA as the owner of Flex-N-Gate, and also since 2012 of the Jacksonville Jaguars American football team
So just how rich is Shahid Khan? Sources estimated that Shahid’s net worth is now close to $6 billion, accumulated during his business career spanning more than 40 years in the auto trade, and in the sporting field. Although now an American, Khan is also recognised as the richest Pakistani.
Shahid initially moved to the USA in 1967 to study, and graduated in 1971 with a BSc in industrial engineering from the University of Illinois College of Engineering. He had already been working part-time at Flex-N-Gate while still studying, and then became a full-time engineering director after completing his studies. His net worth was on the rise quickly, to the extent where just five years later, he was able to set up his own company named Bumper Works, manufacturing parts and accessories for trucks.
Shahid Khan Net Worth $6 Billion
Obviously Shahid was successful in this enterprise, since in 1980 his net worth had grown to the point where he was in the market again, this time buying the company that he had previously worked for – Flex-N-Gate – and incorporating Bumper Works as well. Clearly Shahid had business confidence, as over the next few years the company expanded to be able to supply Toyota with the full range of revolutionary bumper bars they needed, as well as supplying the other major car manufacturers in the US.
Over the following 20 years, the company went from strength to strength, and Shahid’s net worth enjoyed a corresponding rise. The company went from sales of less that $20 million, to more than $2 billion in 2011, by which time 48 manufacturing plants were involved, and more than 12,000 employees in other countries too, with turnover topping more than $5 billion in 2015.
Shahid Khan has been rewarded with several awards from his alma mater, and is ranked very highly by Forbes magazine as a self-made billionaire, portraying him as the iconic ‘rags-to-riches’ business personality.
Shahid Khan was now able to indulge himself in his favourite sport, eventually buying total control of the Jacksonville Jaguars NFL team in 2012 for more than $750 million, and although the team hasn’t been very successful, the value is now estimated to be over $1.6 billion. Obviously Khan’s investment has benefited his net worth too.
In 2013, he acquired the English Premier League Soccer club Fulham for an amount believed to be close to $250 million. The current value of this club is indeterminate.
In his personal life, Shahid Khan remains a staunch Muslim, and became an American citizen in 1991. He married Ann Carlson in 1977, and they have a son, Tony who is involved in his father’s auto business, and with the Jaguars. Daughter Shanna is an administrator.
