Top 10 Richest People In Pakistan in 2023

In Pakistan, a sharp contrast in wealth accumulation is evident. The majority of the population, constituting middle-income and lower-income brackets, struggles to make ends meet, while a minute segment of the population— the elite class—accumulates staggering wealth. In fact, the Global Wealth Indexes reported that the total wealth (assets minus debt) of Pakistan’s elite class in 2018 was just 0.1 percent. While India boasts 16 billionaires on Forbes’ 2019 list, only a select few of Pakistan’s rich made it to that prestigious compilation. This stark divide paints a picture of economic disparity that’s worthy of close examination.

Top 10 Richest Men in Pakistan – 2023

RankNameNet WorthMajor Sources of Income
1Shahid Khan$8.3 billionFlex-N-Gate, Jacksonville Jaguars, Fulham F.C.C, All Elite Wrestling
2Sir Anwar Pervaiz$4.6 billionBestway Group, UBL
3Saddrudin Hashwani$3.4 billionMarriott Hotel, Pearl Continental Hotel, Orient Petroleum
4Mian Mansha$2.7 billionNishat Group, MCB Ltd, Adamjee Group, Nishat Chunian Group, DG Khan Cement
5Asif Ali Zardari$1.8 billionDiversified, Agriculture, and Real Estate
6Malik Riaz$1.5 billionBahria Town
7Mian M. Nawaz Sharif$1.4 billionSharif Group, Ittefaq Steel, Real Estate
8Nasir Schon$1 billionSchon Properties
9Rafique M. Habib$0.95 billionHabib Bank Limited, Habib Metro, Habib University, Indus Motors Company
10Tariq Sehgal$0.9 billionKohinoor-Maple group, Sehgal motors, Sajeel motors, Kohinoor textile mills & power company

1. Shahid Khan: Net Worth of $8.3 billion

  • Source of income: Flex-N-Gate, Jacksonville Jaguars, Fulham F.C.C, All Elite Wrestling.
  • Profile: Born in 1950 in Pakistan’s Lahore, Shahid Khan has emerged as the richest man in Pakistan in 2023. From his humble beginning as a middle-class family member and a local restaurant dishwasher, Khan’s journey to success is marked by determination and a strong will.
  • Business Ventures: In 1978, he started producing one-piece car bumpers and purchased Flex-N-Gate Corporation in 1980, which now boasts 66 plants and employs over 24,000 people globally. A sports enthusiast, Khan also owns the Jacksonville Jaguars and Fulham F.C., and he’s ranked 61st in the 2019 Forbes Billionaires list.
  • Other Ventures: Khan’s entrepreneurial spirit led him to launch All Elite Wrestling with his son, Tony Khan, further broadening his business reach.

2. Mian Mansha: Net Worth of $2.7 billion

  • Source of Income: Nishat Group, MCB Ltd, Adamjee Group, Nishat Chunian Group, DG Khan Cement.
  • Profile: Born amidst the chaos of the 1947 Partition, Mian Mansha’s rise to become Pakistan’s first billionaire is a tale of ambition and hard work. He studied in the UK and joined his family’s textile business, propelling it to become the largest exporter of cotton clothing in Pakistan.
  • Business Ventures: Mansha’s Nishat Group is diversified across power plants, cement, insurance, and is also involved in collaborations like assembling Hyundai vehicles in Pakistan. He controls major companies like Adamjee Group and DG Khan Cements and has significant investments in infrastructure projects.
  • Banking Sector: Owning the Muslim Commercial Bank (MCB), he has also marked his presence in the lucrative banking industry.

3. Sir Anwar Pervaiz: Net Worth of $4.6 billion

  • Source of Income: Bestway Group, UBL.
  • Profile: An epitome of perseverance, Sir Anwar Pervez’s journey began in a small town in Punjab and led him to become one of the top 10 richest men in Pakistan. With values of discipline and integrity, he built his fortune in the United Kingdom after moving there at the age of 21.
  • Business Ventures: Starting as a bus driver, Sir Anwar eventually expanded into steel, banking, and pharmaceuticals. He’s a major shareholder in United Bank Limited (UBL) and has been knighted by the Queen.
  • Awards and Recognition: An eminent personality in the UK, Sir Anwar has received awards like the EMMA Business Personality of the Year, Barclays Business & Commerce Quality Award, and the Outstanding Business Achievement Grocer Cup.

4. Saddrudin Hashwani: Net Worth of $3.4 billion

  • Source of Income: Marriott Hotel, Pearl Continental Hotel, Orient Petroleum.
  • Profile: Starting as a cotton trader in 1960, Mr. Sadruddin Hashwani has become a global icon in the hospitality industry. His diversified interests span real estate, oil & gas, IT, ceramics, and pharmaceuticals.
  • Business Ventures: Founder of Hashoo Group, he operates across three continents, focusing on sustainability, shareholder value, career opportunities, and community development. His Pearl Continental Hotels and Marriott Hotels set industry standards in Pakistan.
  • Honors: Recognized with accolades such as the Nishan-e-Imtiaz, he has been awarded numerous prizes, including a gold medal for distinguished services in the Pakistani hospitality industry.

5. Asif Ali Zardari: Net Worth of $1.8 billion

  • Source of Income: Diversified, Agriculture, Real Estate.
  • Profile: Asif Ali Zardari, a politician and one of the top 10 richest people in Pakistan, served as the 11th President of the country. His business interests are rooted in sugar mills and various other sectors.
  • Political Career: After his wife Benazir Bhutto’s assassination, Zardari became president, though his wealth began accumulating long before his political career.
  • Assets: In addition to his net worth, Zardari’s fortune also includes recorded estates in various global locations, including a 16th-century Normandy chateau.

6. Malik Riaz: Net Worth of $1.5 billion

  • Source of Income: Bahria Town.
  • Profile: Born to an unsuccessful contractor, Malik Riaz’s journey is a story of resilience. Despite educational limitations, he established a construction company under Hussain Global’s banner in 1995.
  • Business Ventures: Through contacts and shrewd business sense, Riaz became the director of the Bahria Group, one of Pakistan’s most prominent real estate entities.
  • Collaborations: With the Pakistan Navy, he developed Bahria City and eventually took full control of the shareholding.

7. Mian M. Nawaz Sharif: Net Worth of $1.4 billion

  • Source of Income: Sharif Group, Ittefaq Steel, Real Estate.
  • Profile: The former Prime Minister, Nawaz Sharif, is not only influential in politics but also one of the richest people in Pakistan, leading Ittefaq Steel, the country’s top steel producer.
  • Business Ventures: The Sharif family’s investments extend to food, sugar, and transportation industries. However, the full extent of Sharif’s wealth, including undeclared properties, remains unknown.

8. Nasir Schon: Net Worth of $1 billion

  • Source of Income: Schon Properties.
  • Profile: Alongside his brother, Nasir Schon owns Schon Properties, an enterprise that found remarkable success in UAE real estate projects.
  • Achievements: With a net worth of $1 billion, Schon’s accolades include the CNBC Arabian Property Award and the Bestway Office Design Award.

9. Rafique M. Habib: Net Worth of $0.95 billion

  • Source of Income: Habib Bank Limited, Habib Metro, Habib University, Indus Motors Company.
  • Profile: The leading figure of the House of Habib, Rafique M. Habib, is a prominent name in Pakistan’s business sector, owning companies like Habib Bank Limited and Indus Motors Company.

10. Tariq Sehgal: Net Worth of $0.90 billion

Source of Income: Kohinoor-Maple group, Sehgal motors, Sajeel motors, Kohinoor textile mills & power company

Tariq Sehgal has cemented his position as one of the leading figures in Pakistan’s business landscape. Ranking 10th among Pakistan’s wealthiest individuals, with a net worth of $0.9 billion, his journey to success has been marked by shrewd business decisions and strategic investments.

Born into a business-oriented family, Sehgal was exposed to the world of commerce from a young age. His ability to identify opportunities and make strategic investments led to his current position as the owner of the prestigious Kohinoor-Maple group, Sehgal motors, Sajeel motors, and other key entities.

His involvement in the Kohinoor textile mills & power company has been a significant contribution to the textile industry in Pakistan, leveraging the nation’s rich cotton resources to create quality products for both domestic and international markets.

In the automobile sector, Sehgal Motors is a renowned name. With a focus on providing high-quality automotive parts and accessories, the company has carved out a significant market share and stands as a testament to Sehgal’s diverse business interests. If you’re looking for specific accessories like canopies for your VW Amarok, consider exploring options to find VW Amarok canopies at Bossco Auto Parts for quality products tailored to your vehicle.

Through Sajeel motors, Tariq Sehgal has further diversified his investment in the automotive industry. The company deals with a variety of automotive products and services, further solidifying Sehgal’s prominence in this sector.

Despite his immense wealth, Sehgal maintains a low profile, focusing on his business ventures and exploring new opportunities. His investments are not limited to textiles and automobiles but span various other industries, displaying his versatile business acumen.

Tariq Sehgal’s commitment to excellence, combined with an innovative approach and a keen understanding of market dynamics, has been instrumental in his rise to the top. As he continues to drive his companies forward, his influence on Pakistan’s economic development is undeniable.

The success of Tariq Sehgal serves as a shining example for aspiring entrepreneurs in Pakistan and beyond. His place among the top 10 richest individuals in Pakistan is a reflection of hard work, dedication, and an unerring ability to adapt to ever-changing market conditions. His story is a valuable lesson in the importance of vision, strategy, and execution in the world of business.

Who is the richest person in Pakistan in 2023?

Shahid Khan is the richest person in Pakistan in 2023 with a net worth of $8.3 billion.

What is the primary source of income for Shahid Khan?

His primary sources of income include Flex-N-Gate, Jacksonville Jaguars, Fulham F.C.C, and All Elite Wrestling.

How did Malik Riaz build his wealth?

Malik Riaz built his wealth by creating the Bahria Group, a prominent real estate company in Pakistan.

Is Asif Ali Zardari primarily known for his political career or his business?

Asif Ali Zardari is known for both his political career, serving as Pakistan’s 11th President from 2008 to 2013, and his business interests in fields like sugar mills, agriculture, and real estate.

What are the main sectors in which Pakistan’s richest people have invested?

The main sectors include real estate, automotive, textiles, banking, steel industry, hospitality, IT, oil & gas, pharmaceuticals, and agriculture.

Who is the first billionaire from Pakistan?

Mian Mansha is known as the first billionaire from Pakistan, with significant investments in textiles, banking, and various other industries.