Sunday, March 21, 2010

The World's Billionaires: Mian Muhammad Mansha - - Pakistan's First Billionaire Ranked 937 in Forbes

Net Worth:$1.0 bil
Fortune:Inherited and Growing
Country Of Citizenship:Pakistan
Marital Status:Married, 3 children

Pakistan's first billionaire. Born during the tumultuous Partition winter of 1947, when his parents were among those Muslim families making the trek from India to Pakistan. His father and uncles jumped into textiles with Nishat Mills in 1951. Mian went to college in the U.K.; joined family business after graduation. Father died one year after his return.

Eventually split with uncles and took over his family's business in West Pakistan decades ago. (The East Pakistan division later went bankrupt). His Nishat Group is now Pakistan's largest exporter of cotton clothes (for brands like Gap) and nation's largest private employer; also invests in power projects, cement and insurance.

Smart bet in banking: Won a controversial bid for Muslim Commercial Bank during the country's privatization push in 1991. Sold more than half of his MCB shares for $900 million May 2008.

Complete List is Available Here
Forbes is an American Magazine, famous for its lists, including its lists of the richest Americans (the Forbes 400) and its list of billionaires. Forbes recorded major up and downs in its billionaire list due to recession and many relating factors, resulting Asians to rise – and diluting the domination of Americans in the Billionaire list.

No comments:

Related Posts Plugin for WordPress, Blogger...