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What is Shahid Khan’s Net Worth?
Shahid Khan, also called Shad Khan, is a Pakistani-born entrepreneur who has a net worth of $12 billion. After coming to the United States with a complete of $500, he earned a massive fortune selling car bumpers. Shahid Khan owns the worldwide auto components provider Flex-N-Gate. He additionally owns quite a few sports activities groups, together with the NFL’s Jacksonville Jaguars, the Premier League’s Fulham FC, and the wrestling promotion All Elite Wrestling. Khan is the richest particular person from Pakistan on the earth.
Early Life and Education
Shahid Khan was born on July 18, 1950 in Lahore, Punjab, Pakistan to a middle-class family concerned within the development trade. He had a brother named Tariq who handed away in his early 20s. As a young person in 1967, Khan moved to the United States to attend the University of Illinois at Urbana–Champaign. There, he earned his Bachelor of Science diploma in industrial engineering in 1971.
When he moved to the US, he had $500 to his identify. That $500 represented his family in Pakistan’s entire life savings. The dorms weren’t open but, so Shahid discovered a room and a meal on the native YMCA for $2 an evening. Spending the cash made him nervous, so he took a job within the YMCA’s kitchen the place he washed dishes for $1.20 per hour to recoup a number of the cash spent on room and board. This was a revelation to him, as that meager $1.20 an hour was greater than 99% of the individuals in Pakistan made. He washed dishes after class to pay his payments.
Flex-N-Gate
While nonetheless attending U of I, Khan labored on the auto components firm Flex-N-Gate. After he graduated from college, he was employed as the corporate’s engineering director. In 1978, Khan launched his personal firm, Bumper Works, which produced automobile bumpers for pickup vehicles and physique outlets. A pair years later, he bought Flex-N-Gate from his former employer Charles Butzow, and introduced Bumper Works underneath the corporate’s umbrella. As he expanded the enterprise, Khan provided bumpers for the Big Three automakers. In 1984, he began supplying some bumpers for Toyota pickups, and by the tip of the last decade was the only real provider for your entire Toyota line within the United States.
Khan grew Flex-N-Gate exponentially over the a long time. By 2019, the corporate had 25,000 staff and 69 manufacturing services throughout the globe. The following 12 months, its income reached $8.9 billion. However, the corporate has not been with out its troubles; in 2012, it was fined $57,000 by the Occupational Safety and Health Administration for well being violations at its plant in Urbana, Illinois. Additionally, the United Automobile Workers and different teams organized protests towards Flex-N-Gate.
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Sports Ownership
Khan first ventured into the world of sports activities possession in early 2010 when he tried to amass 60% of the NFL’s St. Louis Rams. Ultimately, the deal fell by means of. Khan was extra profitable in late 2011 when he agreed to buy the NFL’s Jacksonville Jaguars from Wayne Weaver for $770 million. The sale was finalized in early 2012, making Khan one of many few NFL group homeowners to have been born outdoors of the United States.
In 2013, Khan bought the Premier League membership Fulham FC from Mohamed Al Fayed. Although not formally disclosed, the estimated buy worth was between £150-200 million. In 2019, Khan grew to become a co-owner of the skilled wrestling promotion All Elite Wrestling, of which his son Tony is the CEO and president.
Other Ventures
Among his different enterprise ventures, Khan was the bulk shareholder within the Black News Channel throughout the community’s two years of existence from 2020 to 2022. The community was subsequently bought by Byron Allen and Entertainment Studios, and was merged into the tv channel TheGrio.
Accolades and Honors
Khan has earned some awards and honors through the years for his work within the fields of enterprise and engineering. Quite a few them have been given by his alma mater the University of Illinois, together with a Distinguished Alumnus Award in 1999 and an Alumni Award for Distinguished Service in 2006.
Personal Life
In 1977, Khan married Ann Carlson, whom he had dated since assembly on the University of Illinois in 1967. Together, they’ve two kids, together with son Tony, who based All Elite Wrestling and holds government positions together with his father’s Jacksonville Jaguars and Fulham FC.
Khan owns a house in Naples, Florida and an house within the Gold Coast neighborhood of Chicago, Illinois. He additionally owns the superyacht Kismet, constructed by Lürssen and completed by Reymond Langton and Espen Oeino. The yacht was featured within the 2019 Netflix movie “6 Underground.”
All internet worths are calculated utilizing information drawn from public sources. When offered, we additionally incorporate non-public ideas and suggestions acquired from the celebrities or their representatives. While we work diligently to make sure that our numbers are as correct as potential, until in any other case indicated they’re solely estimates. We welcome all corrections and suggestions utilizing the button beneath.
