71-year-old Shahid Rafiq Khan was born in Lahore, Pakistan on July 18, 1950. He is a Pakistani-American sports tycoon and billionaire businessman.
He is the owner of Flex-N-Gate (an American automotive company).
Additionally, Shahid is also the owner of Jacksonville Jaguars of the National Football League (NFL) and Fulham F.C. of the Championship.
He is the co-owner of the All Elite Wrestling (AEW).
Shahid is 5 ft 9 in tall and he weighs 74 kgs.
In 2012, he made it to the front cover of Forbes magazine as the face of ‘The American Dream’.
8 billion dollars is Shahid’s net worth as of March 2021.
In 2020, he ranked the 183rd richest person in the world and 66th in the Forbes 400 list of richest Americans.
Shahid is also the richest person in Pakistan.
Early life and education
Shahid was born to a middle-class family who was involved in the construction industry.
His father, Rafiq Khan, used to run a survey and drawing accessories shop and his mother was a professor of mathematics, now retired.
Shahid had a brother, Tariq khan, who died in his early 20s.
In 1967, he went to the United States at the age of 16 to study at the University of Illinois at Urbana–Champaign.
He spent his first night at the University YMCA in a $2/night room and started doing a job of washing dishes for $1.20 an hour.
After some years of joining the Beta Theta Pi fraternity at the school, in 1971 he graduated from the UIUC College of Engineering with a BSc in Industrial Engineering.
In 1999, he also received the Mechanical Science and Engineering Distinguished Alumni Award.
During his study at the University of Illinois, he started working at Flex-N-Gate Corporation (the automotive manufacturing company).
After he completed his graduation, he was hired and started working as the engineering director for the company.
In 1978, with his own savings of $16,000 and a $50,000 loan from the Small Business Administration, he started his new business called Bumper Works.
This company made car bumpers for body shop repairs and customized pickup trucks.
Bringing Bumper Works into the fold, in 1980, Shahid bought Flex-N-Gate from Charles Gleason Butzow, his former employer.
Shahid built and grew the company with the aim to supply bumpers for the Big Three automakers, the country’s three largest automobile manufacturers.
He started supplying bumpers for Toyota pickup trucks in 1984 and within 3 years, he was the only supplier for Toyota.
By 1989, he became the only supplier for the entire Toyota line in the U.S.
The company’s efficiency and ability to change its manufacturing process were highly enhanced after adopting The Toyota Way.
Afterward, the company’s sales grew from $17 million to $2 billion in 2010 and after ten years, it reached an estimated $8.89 billion.
When Flex-N-Gate entered 2019, it had increased its employee count to 25,000 and boasted 69 manufacturing plants in the United States and in several countries including China, Canada, and Spain.
According to Forbes, it reached the rank of 49th largest privately-held American company.
Automotive News placed it as the 7th largest American automotive parts supplier and also the 33rd in the world.
Unfortunately, UAW (the United Automobile Workers) and other environmentalist groups filed accusations against the Flex-N-Gate and Shahid.
The company was fined $57,000 for health violations at its Urbana plant by the Occupational Safety and Health Administration in 2012.
On February 11, 2010, Shahid was able to acquire 60% of the then-St. Louis Rams by entering into an agreement with Chip Rosenbloom.
However, he was withdrawn from its legislative power in his ownership agreement by a minority shareholder of the Rams, Stan Kroenke.
Shahid’s next attempt to purchase a National Football League team proved successful when he agreed to purchase the Jacksonville Jaguars from Wayne Weaver.
Wayne announced the sale of his team later that same day.
The NFL owners unanimously approved the purchase, with the price of an estimated $760 million on December 14, 2011; the deal got finalized after a month.
The only term of the deal that was not disclosed was a verbal commitment to keep the team in Jacksonville, Florida.
Shahid became the first member of a cultural minority to own an NFL team.
He finalized a deal to purchase them with an amount estimated between £150–200 million on July 12, 2013.
He stated it was “highly confidential” to announce an official purchase price for the club
Shahid announced that Tony (his son) will be the President and CEO of the professional wrestling promotion AEW (All Elite Wrestling) since they are the lead investors behind it.
Shahid has made headlines after it was announced that Donald Trump will be banning immigration in the U.S.
He opposed this decision by Trump by taking the immigrant’s side and expressing how immigrants can help to build this country and that immigration is the bedrock of this country.
Shahid is a devout Muslim.
When he was at college in 1967, he met Ann Carlson.
He dated her for ten years and they both got married in 1977.
The couple has two children together, Shanna Khan (their daughter) and Tony Khan (their son and also the co-owner of the Jaguars team) born in 1982.
In 1991, Shahid also became an accustomed American citizen.
In 1999, Shahid received an Alumnus Award from the University of Illinois, the College of Engineering in 2006 for Distinguished Service.
|Name||Shahid Rafiq Khan|
|Born||July 18, 1950|
|Height||5 ft 9 in|
|Spouse||Ann Carlson Khan|
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