|Date of Birth:
|July 18, 1950 (73 years old)
What is Shahid Khan’s Net Worth?
Shahid Khan, also known as Shad Khan, is a Pakistani-born entrepreneur who has a net worth of $12 billion. He arrived in the country with only $500 and soon made a sizable fortune selling vehicle bumpers. The Flex-N-Gate worldwide auto parts distributor is owned by Shahid Khan.
Also, he owns a variety of sports franchises, including the All Elite Wrestling organization, the Fulham FC of the Premier League, and the NFL’s Jacksonville Jaguars. Khan is the wealthiest Pakistani in the entire globe.
Shahid Khan was born on July 18, 1950, in Lahore, Punjab, Pakistan. During his early 20s, Tariq, one of his brothers, died. For college at the University of Illinois in Urbana-Champaign, Khan immigrated to the US as a teenager in 1967. He received his industrial engineering bachelor’s degree from that institution in 1971.
He brought $500 with him when he arrived in the US. His Pakistani family’s whole life savings were represented by just $500. Shahid managed to find a room and supper for $2 a night at the neighborhood YMCA because the dorms weren’t yet open.
He took a job washing dishes for $1.20 an hour in the YMCA’s kitchen to help make up for the money he had already spent on room and board since he was afraid to spend it. He had a shocking realization as a result of the fact that 99% of Pakistanis made more than that pitiful $1.20 an hour. In order to pay his bills, he did dishes after class.
Khan held a job at the auto parts supplier Flex-N-Gate while still a student at the University of Illinois. He was appointed the company’s engineering director after completing his studies. Khan established his own business, Bumper Works, in 1978 to manufacture vehicle bumpers for pick-up trucks and body shops.
A few years later, he acquired Flex-N-Gate from Charles Butzow, his old boss, and merged Bumper Works with the business. Khan sold bumpers to the Big Three automakers as he grew his business. He began providing certain bumpers for Toyota pickups in 1984, and by the end of the decade, he was the only supplier for the full Toyota series in the US.
During the years, Khan exponentially increased Flex-N-Gate. The business had 69 production plants worldwide and 25,000 employees as of 2019. Their earnings increased to $8.9 billion the following year.
The Occupational Safety and Health Administration fined the company $57,000 in 2012 for health infractions at its plant in Urbana, Illinois, so the business hasn’t been without its issues. The United Automobile Workers and other organizations also organized demonstrations against Flex-N-Gate.
Khan has received a number of accolades and prizes for his contributions to the engineering and business industries throughout the years. His own university, the University of Illinois, has presented him with a number of awards, including a Distinguished Alumnus Award in 1999 and an Alumni Award for Outstanding Service in 2006.
Khan was the majority shareholder of the Black News Channel for the network’s first two years of operation, from 2020 to 2022, among his other commercial endeavors. Later, Byron Allen and Entertainment Studios bought the network, and it was incorporated into the television network TheGrio.
Early in 2010, Khan made his first foray into the realm of sports ownership when he tried to buy 60% of the NFL’s St. Louis Rams. In the end, the transaction failed. Khan experienced greater success in late 2011 when he decided to pay Wayne Weaver $770 million to buy the NFL’s Jacksonville Jaguars.
Khan is one of the few NFL club owners who was born outside of the United States once the sale was completed in early 2012. In 2013, Khan acquired Fulham FC from Mohamed Al Fayed, a Premier League team.
The purchase price was reportedly between £150 and $200 million, albeit it was not officially announced. 2019 saw Khan become a co-owner of the professional wrestling organization All Elite Wrestling, whose CEO and president is his son Tony.
After dating Ann Carlson since their initial encounter at the University of Illinois in 1967, Khan wed her in 1977. They have two kids together, one of whom is Tony, who created All Elite Wrestling and works as an executive for both his father’s Jacksonville Jaguars and Fulham FC.
Khan is the owner of a residence in Naples, Florida, as well as an apartment in Chicago, Illinois’ Gold Coast district. Moreover, he is the owner of the luxury yacht Kismet, which was constructed by Lürssen and finished by Reymond Langton and Espen Oeino. In the 2019 Netflix movie “6 Underground,” the yacht is mentioned.
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