These are the 12 richest and biggest business owners in Pakistan
There is often a lot of speculation regarding Pakistan’s richest people. There isn’t one consolidated report on how much fortune has been amassed by the rich of our country, however, a majority of these people are either business owners or politicians and their estimated net worth is in billions of Pakistani rupees.
We went on an Internet hunt to track down some of the biggest and most valuable Pakistani businesses and we came up with quite a lot of names. These are the top 12 richest business owners of Pakistan.
1. Mian Muhammad Mansha
Mian Muhammad Mansha is the man behind Lahore’s newest go-to hangout spot Emporium Mall. However, that isn’t the only thing he has up his sleeve. He joined his family business of Nishat Textile Mills in 1969 and eventually broke up with his uncles to take over the business entirely. Today, it is one of the biggest fabric manufacturing mills in Pakistan and comes under the Nishat Group which also includes the Lawn brand ‘Nishat Linen’ which is run by his wife. He also owns MCB Bank. Mian Mansha has an estimated net worth of Rs. 263.3 billion.
2. Sadruddin Hashwani
The 77-year-old business magnate Sadruddin Hashawani is the founder and chairman of Hashoo Group which owns the PC and Marriot Hotels. He founded the Hassan Ali Company with his brother in 1960 and in just over ten years it had become Pakistan’s largest cotton trading company. When the company was nationalized, he dabbled in the hotel business and launched the Holiday Inn hotels in Islamabad and Karachi in the late 70s and early 80s. These hotels were rebranded as Marriott Hotels in the 90s. In 1985, he successfully acquired majority shares in Pakistan Services Limited. Its four Inter-Continental Hotels rebranded as Pearl Continental Hotels, all of whom now come under the Hashoo Group. Mr. Hashwani has an estimated net worth of Rs. 115 billion. Interestingly, he and his son were named in the 2016 Panama Leaks.
3. Nasir Schon
Nasir Schon, with an estimated net worth of Rs. 110 billion, is the man behind the renowned Schon Group whose major subsidiary is Schon Properties, a real estate business started by Nasir and his brother Tahir in Dubai.
Schon Group also owns the PSL cricket team franchise Multan Sultan. Their 8-year contract was worth $41.6 million.
4. Rafiq M. Habib
Indus Motors, House of Habib
House of Habib has a long history which goes way back to the days before the partition. It became an incorporated company in 1921 which dealt in brass and other metal utensils. Today, the company has numerous subsidiaries which have been united under the name of House of Habib, led by Rafiq M. Habib who has a net worth of Rs. 94 billion. The group is well known for its Banking and Finance division and also owns Toyota Indus along with Toyota Tsusho and Toyota Motors. Their prominent subsidiaries include HBL Bank and Habib University.
5. Malik Riaz
Malik Riaz is perhaps one of Pakistan’s most recognized businessmen, thanks to his hugely successful Bahria Town real estate business. A large portion of his Rs. 84 billion net worth comes from Bahria Town, Asia’s biggest privately-owned real estate development company. He was born into a wealthy Sialkot family which went bankrupt and Riaz started his career as a clerk at a construction company in in Rawalpindi. He became a contractor and when one of his biggest contracts for a Pakistani Navy community was terminated, Riaz went on to start the Bahria Town project.
Today, Bahria Town has a presence in Karachi, Lahore, and Rawalpindi and employs over 60,000 people.
6. Sultan Ali Lakhani
Sultan Ali Lakhani may hold a Ph.D. in Economics from Karachi University but he is a consolidated businessman. He is a joint owner of the Lakson Group which includes subsidiaries like Colgate-Palmolive, Cybernet, Clover, McDonald’s and Tetley’s Pakistan franchise. He also serves as the CEO of Express Media Group and Century Publications (Pvt. Ltd.) and is a former member of the Pakistan Senate. Sultan Ali Lakhani has accumulated a fortune of Rs. 84 billion.
7. Mian Muhammad Latif
ChenOne, Chenab Group
Mian Muhammad Latif comes from the small city of Toba Tek Singh. His father worked in the cotton industry as well and when Latif graduated from university he started his own textile business which has now come to be known as Chenab Group, one of Pakistan’s largest vertically integrated textile groups. Its subsidiary ChenOne has also become a renowned and successful retail store in Pakistan. His business ventures have helped Mian Muhammad Latif amass a wealth of Rs. 82 billion.
8. Byram Avari
Avari Hotels, Avari group
Byram Avari is the chairman of the Avari Group which he runs with his sons. Hotel management is the main area of focus of the Avari Group and their 5-star Avari Hotels have a presence in Lahore and Karachi. And they run a 200-room 4-star hotel in Dubai and a 200-room Ramada Inn in Canada. Byram, apart from being a successful businessman with a Rs. 52.6 billion net worth, is a two-time Gold medalist at the Asian Games.
9. Hussein Dawood
Dawood Hercules Corporation
Hussein Dawood has a net worth of Rs. 52.6 billion and holds the reigns of several companies in his hands. He serves as the Chairman of Dawood Hercules Corporation Limited, Engro Corporation Limited, Hub Power Company Limited, Pakistan Poverty Alleviation Fund. Other than this, Mr. Dawood is a member of the Government of Pakistan Education Task Force, Director of the Pakistan Business Council and is a Global Charter Member of The Indus Entrepreneurs. He is an active philanthropist as well and serves as chairman of The Dawood Foundation.
10. Abdul Razaq Dawood
Descon Engineering, Descon Group
Abdul Razaq Dawood leads the Descon Group and serves as the CEO and Chairman of its subsidiary Deson Engineering which has been providing is services in numerous fields like fertilizers, chemicals, power, cement, textile, and manufacturing since 1977. The company has its presence in Pakistan and the MENA region and as has contributed largely towards Abdul Razaq Dawood’s Rs. 52.6 billion fortune.
11. Syed Babar Ali
Packages Mall, Packages Group
Syed Babar Ali was one of the founding members of LUMS and served as its first Pro-Chancellor. LUMS’s School of Science & Engineering is also named after him. He is also on the board of various other educational institutions like Aitchison College, Kinnaird College, and Lahore School of Economics. He has set up numerous companies in Pakistan including Nestlé Pakistan Limited, Tetra Pak Pakistan Limited, IGI Insurance Company Limited, Tri-Pack Films Limited, and IGI Investment Bank. His most recent venture is Lahore’s Packages Mall, named after his successful paper and board mill of Packages Group. His numerous ventures have helped him accumulate a net worth of Rs. 46 billion.
12. Mian Amir Mahmood
Punjab Group of Colleges, Dunya News
After graduating from Punjab University with an MBA, Mian Amer Mahmood ventured into the education sector and launched Punjab Group of Colleges in 1985. But that wasn’t his only education venture. Mr. Mahmood went on to found University of Central Punjab, Resource Academia School System, and Allied Schools. He has also made a foray into the news media business by launching the Dunya News channel and its associated newspaper called Roznama Dunya. Mian Amir has also served as the Mayor of Lahore from 2001 to 2009. His multiple businesses have contributed towards his Rs. 2 billion net worth.
Note: The actual net worth of these people could vary and has been acquired through Wikipedia.