What is Shahid Khan’s net worth in 2021?
See how much the billionaire Jacksonville Jaguars owner Snyder is worth, how he made his money and acquired his sports empire.
Shahid Khan is a Pakistani-born American businessman and billionaire sports tycoon.
He is widely known for being the owner of Flex-N-Gate, an American automotive company.
He was born in Pakistan to a middle-class family but worked out the path to greatness.
This article gives a summary of Khan’s path to financial success.
How Did Shadid Khan Become a Billionaire?
Before becoming an automotive company owner and extending into sports enterprise, Khan started out working at an automotive manufacturing company, Flex-N-Gate Corporation, during his University schooling days.
Upon graduation, he was employed by the company as an engineering director.
In 1978, he started a personal business of his own, Bumper Works. Bumper Works made car bumpers for customized pickup trucks and body shop repairs.
This business, however, cost him a $50,000 loan from the Small Business Administration and $16,000 of personal savings.
The business proved rewarding.
In 1980, he purchased the Flex-N-Gate company from Charles Gleason Butzow, his former employer, and brought Bumper Works into the Flex-N-Gate business fold.
Khan designed the company business structure to see that Flex-N-Gate supplied bumpers for the Big Three automakers.
1984 saw him began supplying a number of bumpers for Toyota pickups, and in 1987 he had become the sole supplier for Toyota pickups.
By 1989, he was supplying to the entire Toyota line in the United States. That was the onset of Khan’s business success.
The company has experienced rapid growth in its sales since the late 1980s.
It has risen from $17 million in sales to approximately $2 billion as of 2010.
Sales increased further to a whopping $8.89 billion in 2020.
Currently, Flex-N-Gate is the 46th largest private USA company as ranked by Forbes in 2020.
The company has over 24,000 employees and 64 plants across the globe.
Acquisition of Jacksonville Jaguars
When Khan acquired the Jacksonville Jaguars, he became the first member of an ethnic minority to own an NFL team.
However, that didn’t become a reality until January 4, 2012, when the sale was finalized.
Prior to that, Khan’s first bid to own an NFL franchise happened on February 11, 2010, after entering an agreement to buy 60% of the then St. Louis Rams.
The agreement didn’t yield the expected results as a minority shareholder of the Rams exercised a clause in his ownership agreement to weigh against the proposed bid.
Khan entered yet another agreement to purchase the Jacksonville Jaguars from Wayne Weaver and his ownership group.
On December 24, 2011, NFL owners unanimously approved the purchase, and the sale was finalized on January 4, 2012.
Shahid Khan bought the Jacksonville Jaguars for an estimated $760 million.
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What is Shahid Khan’s Net Worth?
Khan’s primary source of wealth is his auto parts company; however, he has other sources of income, especially in the sports scene.
As of 2021, Shahid Khan’s net worth is an estimated $7.9 billion.
According to Forbes, Khan ranks 66th in the list of 400 richest Americans and 183 in the world’s richest people.
Shahid Khan’s Sports Empire
In the sports scene, Khan also owns a team from American football, soccer, and wrestling.
On January 4, 2012, Khan finalized a purchase deal to become the owner of the NFL’s Jacksonville Jaguars.
He also owns the London Soccer Club, Fulham of the English Premier League, which he purchased from the former owner, Mohamed Al-Fayed.
The price of the deal was not announced; however, it is estimated to fall between £150-200 million.
Shahid Khan also is the lead investor of the All Elite Wrestling (AEW), a professional wrestling promotion.
His son Tony Khan is the President and CEO of the promotion.
Shahid Khan’s Profile
|Net Worth:||$7.9 Billion|
|Date of Birth:||July 18, 1950|
|Age:||72 years old|
|Source of Wealth:||Sports Teams, Auto Parts|
|Wife:||Ann Carlson Khan (m. 1977)|
|Children:||Tony Khan, Shanna Khan|
Shahid Khan’s net worth is evidence of the financial success he has accomplished over the years.
Shahid Khan came to the US from Pakistan at 16 with just $500 on him.
The self-made billionaire is obviously is a great example of an individual living the American dream.
However, it wasn’t all rosy for him.
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