According to the global Wealth Index, in 2018 the total count of income of Pakistan’s upper class was 0.1%. While on the other hand, India has 16 billionaires on the Forbes 2019 list. There are very few richest people in Pakistan who are on the list of the World’s top richest people. However, Pakistan has some billionaires who have built up a net worth of billions of dollars, despite being an economically poor country.
80% of Pakistan’s population is divided into lower and middle classes. Around 80% of the population live an average life and 34% of them live below the poverty line.
With each passing day, the rich people of the country are getting richer and poor people are getting poorer because the elite class is not contributing to the country or to its poor people.
Get To Know About the Richest People in Pakistan With Their Income
In this article, we’ll discuss the top ten richest people in Pakistan on the basis of the net worth of their wealth which is based on their publicly available asset information.
Net Worth: $8.5 billion
Shahid Rafiq Khan is at the top of the list of richest people in Pakistan. Khan is a billionaire businessman and business tycoon. Khan owns many companies and some of them are Jacksonville Jaguars of the National Football League (NFL), Fulham F.C of the Premier League (EPL), Flex-N-Gate which is an American automotive company, and he is the co-owner of All Elite Wrestling (AEW).
Born in 1950, in a middle-class family of Lahore, his father had a shop of survey and drawing accessories and his mother was a Mathematics Professor. Khan migrated to the United States of America in 1967 at the age of sixteen to study at the University of Illinois at Urbana. His first job in the USA was to wash the dishes at a local restaurant for $1.20 an hour. And in 1971, he graduated from the UIUC College of Engineering with a BSC degree in Industrial Engineering. He also has received many awards from the University of Illinois
In 2012, Forbes magazine featured Shahid Khan on the front cover of the magazine, honoring him as the face of the American Dream. In 2020, Khan ranked 183rd richest man in the world and 66th in the Forbes 400 list of richest Americans. His net worth is $8 billion as of March 2021.
Net Worth: 520 billions
Mian Muhammad Mansha is a Pakistani business tycoon and billionaire who was born in Faislabad in a very rich family. Mansha’s parents were among Muslims who migrated to Pakistan during the partition of 1947. After his early education in Sacred Heart Convent, Faisalabad, he went for higher studies in business administration at Hendon College, London.
He is the CEO and founder of the Lahore-based multinational corporation Nishat Group. Mansha is one of the highest tax-paying Pakistani citizens. Mr. Mansha is the owner of three Mercs, red E-class Jaguar convertible, BMW 750, Porsche turbo, a Range Rover, Volkswagen, an eight-seater jet, and a turboprop plane.
The Nishat group owned by Mansha is the largest private employer nationwide and the largest exporter of cotton clothing. Nishat group has also invested in power plants, cement, and insurance.
Besides, he is also the owner of the Muslim Commercial Bank (MCB) which is one of the most profitable private banks in Pakistan. His company, Nishat Group, also works in collaboration with Hyundai Motor in accumulating vehicles from Japan in Pakistan.
In 2008, he was given the title of richest Pakistani with a total asset worth of $2.5 billion by Daily Pakistan. In 2010, Mansha was the first Pakistani who was ranked in the Forbes billionaires list. According to Wealth-X, his estimated net worth was $3.8 billion.
Net Worth: 155 billion
Sadruddin Hashwani, with a net worth of 3.4 billion, ranks in the third number in the list of top ten richest people in Pakistan. He is a Pakistani billionaire, tycoon, and also author. He is the owner of Marriott and Pearl Continental Hotels all over the country. Also, he is the founder of Hashoo Groups, which is a multinational company.
He was born into a Khoja Shia family in 1940. Further, he continued his education at the University of Karachi and after a few years established Hasan Ali Company in 1960 which became Pakistan’s largest cotton trading company by 1970. After that, in 1981, he launched the Holiday Inn Hotel in Karachi and Islamabad which were later converted to Marriott Hotels in 1985.
Furthermore, Hashwani also owned four International Continental Hotels in Pakistan after successfully bidding for the majority shares of Pakistan Services Limited. Later he rebranded those International Hotels into Pearl-Continental Hotels.
In 2014, he issued his best-selling memoir Truth Always prevail
In 2019, Hashwani received the award of Nishan-e-Imtiaz by President of Pakistan Arif Alvi at the ceremony of Pakistan National Day. He is the first Pakistani businessman who has received this top civilian award of excellence, which the highest honor is given to any Pakistani civilian in recognition of their accomplishments and outstanding services for the country.
Net Worth: 84 billion
Malik Riaz is among the list of richest people in Pakistan and a business tycoon who is the founder and director of Bahria Town which is the largest real estate development company in Asia.
Born into a family of contractors whose father suffered heavy loss in business due to which he was forced to drop out of school after matriculation and started working as a clerk in the Military Engineering services and also worked part-time as a painter.
Gradually, he started working as a low-key contractor in the military. And then in the 1990s, by using his contacts he got a contract from Pakistan Navy to build two housing schemes in the outskirts of Rawalpindi. Gradually, he expanded his real estate company and developed gated communities in many various cities of Pakistan such as Karachi, Islamabad, and Lahore.
And today his real estate company is one of the largest companies in Pakistan with around 60,000 working employees. Alongside all the success and accomplishments that Riaz has earned in his career, he is also a very controversial personality with many corruption allegations.
Net Worth: 82 billion
Mian Muhammad Latif is among the richest people in Pakistan with a net worth of 84 billion. He is the CEO of Chenab Groups and a successful Pakistani businessman. He was born into an Arain Punjabi family in Toba Tek Singh in the year 1952. His father was an entrepreneur and an industrialist. After completing his education from Faisalabad, he started a small textile business. That small business unit is now known as one of the biggest integrated textile groups of Pakistan recognized with the name of Chenab Group.
All processes of cotton yarning, spinning, fabric weaving, and fabric stitching, are covered and handled by the industrial units of Chenab Group. Every year this group produces millions of meters of weaved and dyed fabric and they have an International global sales network. In 1997, the ChenOne retail store was introduced in Pakistan by Mian Latif which turned out a successful venture and today it is recognized as one of the good brands in Pakistan as well as outside Pakistan.
In 2004, The president of Pakistan Pervez Musharraf honored him with the award of Tamgha-e-Imtiaz in recognition of his accomplishments and services to the industry.
Net Worth: 52.6 billion
Byram Dinshawji Avari is the next in the list of richest people in Pakistan with a net worth of 52.6 billion. Byram is a Pakistani businessman and a Gold Medalist in Asian Games. He is the chairman of Avari Group of companies which he owns along with his sons. The core business of Avari Group is hotel management.
The Avari Group runs Avari Hotels which consist of 5-star deluxe hotels in Lahore and Karachi, the Beach Luxury Hotel in Karachi, and the 5-star Avari Towers. They are also involved in managing 3 and 4-star properties in other parts of the world. They run the 4-star hotel in UAE and also manage the Ramada Inn Hotel in Canada.
They are honored to be the first Pakistani company to have received the International contracts of hotel management. Byram Avari is also the honorary consul for Canada. He has also been honored by the president of Pakistan with the Award of Pride of Performance for sports in 1982.
Read more: Top hotels to stay in Multan
Net Worth: 52.6 billion
Hussain Dawood is the next on the list of richest people in Pakistan with a net worth of 52.6 billion. He is a Pakistani businessman, philanthropist, and educationalist. He is the chairman of Dawood Hercules Corporation Limited, Engro Corporation, Karachi School for Business & leadership, Karachi Education Initiative, and the Dawood Foundation. Hussain Dawood is also the director of the Pakistan Business Council.
Also, he has served as the Honorary Consul of Italy in Pakistan.
Moreover, he is also a member of the board of Governors at the Shaukat Khanum Memorial Cancer Hospital & Research Centre in Lahore and a member of the advisory committee of the Dawood College of Engineering & Technology in Karachi.
Dawood completed his education at Northwestern University, United States and he is also a graduate of metallurgy from the University of Sheffield, United Kingdom. Dawood is famous for his philanthropic work. He runs Dawood Foundation which is a private charitable trust in Pakistan. It supports schools, Engro Foundation, and also assists the medical care system in Pakistan.
In 2016, Dawood was honored with the Lifetime Achievement Award by the Marketing Association of Pakistan. And the Republic of Italy honored him with the reward of “Ufficiale Ordine Al merito della Republica Italiana” for his contributions and accomplishments.
Net Worth: 4.3 billion
Muhammad Shahid Afridi, also known as Lala and Boom Boom Afridi is another richest Pakistani in the list of top richest Pakistani. He is the former captain of the Pakistan National cricket team and he is also a Pakistani International cricketer. Afridi is a successful all-rounder. He is most famous for his consistent bowling and aggressive batting style. Afridi is the world record holder for the fastest ODI century in 37 deliveries and for hitting the most sixes in the history of ODI cricket.
He is also a philanthropist and runs the Shahid Afridi Foundation which provides education and healthcare services all over Pakistan. He has worked with UNICEF for the campaign of anti-polio in the independent tribal areas of the Waziristan region.
In August 2015, he was honored with the title of “World’s Most Charitable Athletes” by Do Something. He is also honored with the award of Sitar-e-Imtiaz by President Mamnoon Hussain in 2018 and has received the award of Pride of Performance by President Asif Ali Zardari in 2010 for his accomplishments and contributions to the country.
Net Worth: 1.8 billion
Asif Ali Zardari is another wealthiest Pakistani man on the list with 1.8 billion worth of assets which doesn’t include his property outside Pakistan. He is the former President and co-chairman of the Pakistan People’s Party (PPP).
In 1987, he got married to Benazir Bhutto who became the first female Prime Minister of Pakistan a year later after her marriage. Zardari was unknown before his marriage with Benazir Bhutto and he collected most of his wealth during the period of Benazir’s government. He has also been jailed twice for charges of murder and corruption.
In 2007, after the assassination of Benazir Bhutto, Zardari became the President of Pakistan and served the country till 2013.
Net Worth: 1.4 billion
Mian Muhammad Nawaz Sharif is one of the richest people in Pakistan with a net worth of 1.4 billion which doesn’t include his uncleared properties in UAE, England, and the USA. He is the three-time Prime Minister of Pakistan and the owner of Ittefaq Group, which is the leading steel company in Pakistan. Moreover, he has investments in agriculture, transport, and sugar.
Born in 1949, he is the eldest son of Mian Muhammad Sharif who was an upper-middle-class businessman and industrialist. Nawaz completed his education at the Law College of Punjab University in Lahore. He started his political career during the regime of Zia-ul-Haq as the Finance Minister of Punjab. And then worked as the Chief Minister of Punjab. In 1990, he was selected as the 12th Prime Minister of Pakistan.
His political and business career was very controversial and he has faced many crises and hardships. In 2017, The Supreme Court of Pakistan condemned him and his daughter in the Panama scandal. The Panama Scandal revealed their multi-billion investments in UAE, England, and the USA due to which he and his daughter Maryam Nawaz are sentenced to jail for corruption charges.