The Rise of Shahid Khan: From $2-a-Night Rooms to Billionaire

July 19, 2024, by Kashish Zahra

The Rise of Shahid Khan: From $2-a-Night Rooms to Billionaire by Kashish Zahra

Shahid Rafiq "Shad" Khan is a remarkable Pakistani-American who has made a significant impact as a businessman and sports owner. Khan owns the Jacksonville Jaguars in the NFL and Fulham F.C. in the Premier League. Along with his son who name is Tony Khan, he co-owns All Elite Wrestling (AEW) and runs Flex-N-Gate, a company that makes car parts.

Khan's journey began in Lahore, Pakistan. he was born in a humble family. His mother taught mathematics, and his father ran a small shop selling survey and drawing tools. At the age of 16, Khan make a decision and left his home and moved to the United States to attend the University of Illinois at Urbana–Champaign. His early days in the U.S. were tough; he spent his first night in a modest $2 room at the university YMCA and worked as a dishwasher for $1.20 an hour. Despite these challenges, he joined the Beta Theta Pi fraternity and graduated with a degree in industrial engineering in 1971. Later, the university honored him with several awards for his achievements.

While studying, Khan worked at Flex-N-Gate, and after graduating, he was hired as an engineering director. In 1978, he took a leap of faith and started his own business, Bumper Works, with a $50,000 loan and $16,000 of his own savings. By 1980, he purchased Flex-N-Gate from his previous employer and merged it with Bumper Works. Under his leadership, the company grew beyond expectations. What began as a small operation became a major supplier for Toyota in the U.S. The company's success soared, with sales growing from $17 million to nearly $9 billion by 2020. It now employs 25,000 people and operates in many countries.

Khan’s entry into the NFL was another significant milestone. In 2010, he tried to buy 60% of the St. Louis Rams but was outbid. In 2011, he successfully purchased the Jacksonville Jaguars for $770 million. This achievement made him the first person of ethnic minority to own an NFL team. He promised to keep the team in Jacksonville, and the NFL owners approved the purchase in December 2011.

In July 2013, Khan added another chapter to his story by buying Fulham F.C. from Mohamed Al Fayed. The exact purchase price was kept confidential, but it was between £150-200 million. In 2019, Khan and his son Tony became the key investors in All Elite Wrestling (AEW), with Tony serving as the President and CEO. Khan made his AEW debut in April 2024, further expanding his influence in sports entertainment.

Khan also held a significant share in Black News Channel during its short-lived run. Despite his success, Khan remains a humble, non-observant Muslim. He met Ann Carlson at university, and they married in 1977, raising two children, Shanna and Tony. Khan became a U.S. citizen in 1991. He owns a home in Naples, Florida, and an apartment in Chicago’s Gold Coast. He previously owned a superyacht named Kismet, which he sold in September 2023.

Khan’s story is a testament to hard work and determination. Featured on the cover of Forbes magazine as an example of the American Dream, his net worth stands at $12.1 billion as of May 2024. Ranked 55th on the Forbes 400 list of the richest Americans and 167th in the world, Khan is not only the wealthiest person of Pakistani origin but also an inspiring figure. He has received numerous awards from the University of Illinois, reflecting his remarkable journey and contributions.

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