Shahid Khan, A Pakistani-American billionaire
A Pakistani who had been washing dishes for $1.20 an hour in USA, now is a Billionaire and his real time net worth is $7.2 B. He is a business tycoon and playing a considerable role in US economy. We are talking about Shahid Khan, also known as Shad Khan.
Shahid Khan was born on July 18, 1950 in Lahore, Pakistan, to a middle class family. His father was running a small construction business, while mother was professor of mathematics. He moved to the USA in 1967 at age 16 for study. He was admitted in the University of Illinois. In America,he spent his first night in a $2/night room at the University Y-YMCA. Shahid had to wash dishes to meet his expenses in beginning and his wage was just $1.20 per hour. In this way, he got his degree of engineering from the UIUC College of Engineering in 1971.
Khan started his career as student Engineer in 1970 from Flex N Gate Company. Later on, he became the owner of this company. In 1978, he left this job and started his own business after getting loan of 50 thousand dollar. He created the start up Bumper Works. Due to Khan’s unique ideas, business got success rapidly. His design for a one-piece truck bumper was the basis for his success.
After two years Shahid purchased his former employer’s company, Flex-N in 1980. During the decade that followed, Flex-N-Gate transitioned from an aftermarket parts producer to an Original Equipment Manufacturer (OEM). Needing to expand his client base, Khan made sales calls for over five years to all the Japanese auto manufacturers, who, at the time, were more open to new ideas and working with smaller suppliers.
The company now has 62 plants worldwide and over 24,000 employees. Khan also owns the NFL’s Jacksonville Jaguars, which he bought in 2012, and UK’s Fulham football club, which he bought in 2013. Khan’s 300-foot super yacht Kismet, which took 6 years to build, was delivered at the end of 2014.
Shahid Khan purchased full ownership of Four Seasons Hotel Toronto in 2016, regarded universally as one of the premier destinations in the luxury hotel segment anywhere in the world. The property, located in the fashionable Yorkville neighborhood, continues to be managed by Four Seasons Hotels and Resorts and deepens Khan’s roots in Canada, where Flex-N-Gate operates 11 plants in Ontario.
Khan family is also known for his charity works. Shahid and his wife, Ann, are philanthropic leaders both in their newly adopted hometown of Jacksonville as well as in Illinois, where they met as students while attending the University of Illinois. Since early 2012, the Khans have focused their charitable giving in the Jacksonville community through the Jaguars Foundation. Through the Foundation, they provided more than $1.4 million in grants in 2012, $1.6 million in 2013, $1.7 million in 2014, $2.1 million in 2015 and $2.5 million in 2016. These grants support children’s and family programs, the NFL/Jaguars Play 60 youth fitness program, military and veterans, women’s health issues, neighborhood revitalization and other NFL and team-related initiatives. (Also read, Richest man in pakistan)
Shahid Khan’s son Tony khan is also active in business and social works. This family made a $1 million donation to the Baptist Health – MD Anderson Cancer Center being built on the Baptist Health downtown campus in Jacksonville. This donation was matched to form a $2.25 million dollar endowment for the treatment of breast cancer. The Khans’ charitable initiatives also include a $1 million commitment to the City of Jacksonville’s Veterans Resource and Reintegration Center. He was awarded the Mechanical Science and Engineering Distinguished Alumni Award in 1999.