With a net worth of $7.8 billion, Pakistani-American Shahid Khan has been listed as the 66th richest man in the United States (US) in the Forbes list of the 400 richest Americans.
The 39th Forbes list, published on Tuesday, ranks CEO and founder of Amazon, Jeff Bezos, as the richest man of the US for the third consecutive year. Bezos’ fortune of $179 billion, as of July 24, 2020, is up 57% from last year. Bill Gates has about $111bn and Facebook CEO Mark Zuckerberg has $85bn. He is the third on the list.
According to the Forbes report, there were 25 drop-offs who made the 2019 list but fell off this year’s ranking; ten of those were due in part to setbacks related to the COVID-19 outbreak.
An engineer by trade, Shahid Khan is the only Pakistani featured on the list. He had immigrated to the US at age 16 with $500 and a plane ticket.
He made his fortune in the car parts business.
Famously known as Shad Khan, the Pakistani billionaire is also the owner of the Jacksonville Jaguars of the National Football League (NFL), the English Football League Championship team Fulham F.C., and automobile parts manufacturer Flex-N-Gate in Urbana, Illinois which he bought on 1980.
Also read: Fact check: Billionaire Shahid Khan is not donating to Pakistan dam fund
Khan was also featured on the front cover of Forbes magazine in 2012 as the face of the American Dream.
“There are 18 newcomers on this year’s list including Eric Yuan, CEO of Zoom Video Communications, with a net worth of $11 billion; Jim Koch, co-founder and chairman of the Boston Beer Company, producer of Samuel Adams Beer, with a net worth of $2.6 billion; and at age 38 the youngest newcomer, Trevor Milton, founder of electric and hydrogen-electric truck maker Nikola,” the report highlighted.
Moreover, US President Donald Trump’s ranking dropped to number 352 from 275 in 2019, and his net worth dropped to $2.5 billion from last year’s $3.1 billion, as the value of office buildings, hotels, and resorts have taken a huge toll amid the ongoing coronavirus pandemic.
Multan records worst air quality among all cities in country; Peshawar AQI drops but smog persists
In follow up letter, KP asks privatisation minister for update on its proposal to take over PIA
Peshawar and surrounding cities including Swat, Abbottabad, and Shangla also hit by earthquake
Home Department is preparing new legislation to hold security companies accountable for vetting guards, says top cop
Govt has formed a task force in all districts to deal with smog, advocate general tells LHC
“Relations with India can be improved and there seems to be no hindrance to it," says PML-N president
