Shahid Khan Biography & Net Worth
|Popular Name:||Shahid Khan|
|Real Name:||Shahid Rafiq Khan|
|Birth Date:||July 18, 1950|
Lahore, Punjab, Pakistan
Ann Carlson Khan (m. 1977)
|Net Worth:||$8 Billion|
Shahid Khan is a Pakistani-American businessman and entrepreneur who also happens to be a sports tycoon. He is the owner of several companies and brands in America and several parts of the world, including the American automotive company Flex-N-Gate, Fulham Football Club of the English Championship, and the Jacksonville Jaguars of the National Football League (NFL). He is also a co-owner of the popular wrestling promotion All Elite Wrestling (AEW).
Khan has amassed enormous wealth and success by investing in multiple ventures. He holds the reputation for being the wealthiest person of Pakistani origin and is ranked as the 183rd richest person alive according to Forbes Magazine. In 2012, he was featured on the cover of an edition by the magazine as “the face of the American Dream”. He has also been ranked the 66th richest American by this same source due to his personal net worth which we will be discussing in this article, along with other interesting stuff relating to this billionaire.
Early Life: Childhood, Family, Education
Khan was born Shahid Rafiq Khan on July 18, 1950, in Lahore, Pakistan, to a middle-class family that was known to be involved in the construction industry. He is the son of Rafiq Khan, a shop owner who sold survey and drawing accessories. His mother is a retired professor of mathematics. Khan had a brother, Tariq Rafiq Khan, who passed away in his early 20s.
In 1967 when he was 16 years old, Khan moved to the United States to study at the University of Illinois. On getting to the United States, he lodged in a $2/night room at the University YMCA to spend his first night, and his first job was cleaning dishes for one dollar an hour.
In 1971, he graduated from the University of Illinois College of Engineering with a bachelor of science degree in Industrial Engineering. He later received Mechanical Science & Engineering Distinguished Alumni Award twenty-eight years later in 1999.
Professional Life: Businesses, Sports Involvement & Other Ventures
While still studying at the University of Illinois, Khan was employed at Flex-N-Gate Corporation. This was a car manufacturing company in the United States. Upon graduating from college, he got a job at the same establishment as its engineering director.
In 1978, he started his own company Bumper Works, which produced car bumpers for customized pickup trucks and also carried out body shop repairs. He got the funds to start his business from a $50,000 loan obtained from the Small Business Administration, and an extra $16,000 of his own savings.
In 1980, he had made a considerable sum of money and was able to purchase Flex-N-Gate from his former boss Charles Gleason Butzow. Bringing Bumper Works into the fold, Khan was able to grow the company to a higher point where it supplied bumpers for many big automakers in the world, including Toyota.
Since then, Flex-N-Gate has expanded from $17 million in sales to about $2 billion in 2010 to more than $8 billion in 2020. By 2019, the company had over 25,000 employees and around 70 manufacturing plants in the United States and Argentina, China, Germany, Spain, France, Mexico, and Canada.
Khan is the owner of Fulham Football Club of the English Championship and the Jacksonville Jaguars of the National Football League (NFL). On November 29, 2011, Khan agreed to acquire the Jacksonville Jaguars from former owner Wayne Weaver for a purchase price estimated to have been $760 million. The sale of the football team was finalized on January 4, 2012, making Khan the first person belonging to an ethnic minority to own a football team in the NFL.
In July 2013, just two years after purchasing his first sports franchise, Khan negotiated the purchase of the London-based soccer club Fulham F.C. from its previous owner, Mohamed Al Fayed. The deal, which was finalized on July 12, 2013, is said to have been worth £150–200 million. An official acquisition price for the club wasn’t announced with Khan stating that the deal was “highly confidential”.
All Elite Wrestling
Shahid Khan and his son, Tony Khan, are the main investors and forerunners of the professional wrestling promotion All Elite Wrestling (AEW) which was established in 2019. Tony Khan is also the CEO and President of the promotion.
Achievements: Awards & Honors
Khan has received several awards in his lifetime mostly in recognition as a businessman. The University of Illinois has also awarded him many times, most notably, with awards such as the Distinguished Service Award from the University of Illinois Alumni Association, the Alumni Award for Distinguished Service from the College of Engineering, and the Distinguished Alumnus Award from the Department of Mechanical Science and Industrial Engineering.
Khan sits on the board of the NFL Foundation. He is the first person belonging to an ethnic minority to own a football team in the NFL, and is one of three owners not born in the United States of America, with the other two being Germany-born Zygi Wilf of the Minnesota Vikings, and South Korea-born Kim Pegula of the Buffalo Bills.
Personal Life: Wife, Children, Private Interests
Mr. Khan is Muslim. He has been married to Ann Carlson (now Ann Carlson Khan) since 1977. He met her while in college in 1967 the two dated for ten years before they tied the knot in the presence of their loved ones, family, and friends.
Khan and his wife are the parents of two children, a son named Tony Khan, and a daughter, Shanna Khan.
Shahid Khan Net Worth: Salary, Income Sources, Real Estate
The business tycoon became a naturalized American citizen in 1991. He owns a house in Florida, and a $95 million superyacht Kismet. As of the time of this writing, Shahid Khan owns a huge net worth of around $8 billion.
After starting life in America with only $15 in his pocket, this man worked hard and rose to such as great position. Today, the illustrious Pakistani-American businessman holds the status of being the wealthiest person of Pakistani origin and is ranked as the 183rd richest person alive according to Forbes Magazine. The sources of his wealth include his automotive company Flex-N-Gate, his NFL franchise Jacksonville Jaguars, his championship club Fulham F.C of London, and the professional wrestling league, All Elite Wrestling, which he started with his son to rival the popular World Wrestling Entertainment (WWE).