Wednesday, September 25, 2013

Pakistani-American Tops Richest Americans of South Asian Origin

With a net worth of $3.8 billion, Shahid Khan tops the Forbes list of the richest Americans of South Asian origin. Overall, Khan ranks 122nd on Forbes 400 list for 2013, up from 179th in 2012.

Born in Pakistani city of Lahore, 63 year old Shahid Khan is a mechanical engineer and a self-made billionaire who built his fortune as a top supplier of bumpers to the auto industry. Khan made history in 2011 by becoming the first non-white owner of a National Football League team when he bought Jacksonville Jaguars. Recently, he acquired an English soccer team Fullham for $300 million.

There are four Indian-Americans on Forbes 400 this year: Syntel chairman and co-founder Bharat Desai and his family, Symphony Technology Group founder and chairman Romesh T. Wadhwani, Google investor Kavitrak Ram Shriram and venture capitalist Vinod Khosla, according to India West newspaper.

 Desai, 60, who lives in Fisher Island, Fla., is in 252nd place with a $2.2 billion net worth. He was in 239th place in 2012.

Wadhwani, 66, has a net worth of $2.1 billion, good for 260th place on the Forbes list. The resident of Palo Alto, Calif., was listed 250th last year.

Shriram, 56, a resident of Menlo Park, Calif., and a managing partner of Sherpalo Ventures, is in 325th place with assets of $1.75 billion. He dropped from the 298th spot in 2012.

Khosla, whose Khosla Ventures continues to invest in green energy and other forward-looking technologies, is in 352nd place with a worth of $1.5 billion. The 58-year-old Sun Microsystems co-founder was 328th last year. He lives in Portola Valley, Calif.

Here are some of the highlights of Pakistani-American data from US Census 2010 as gleaned from a report titled "A Community of Contrasts Asian Americans in the United States: 2011" published by Asian-American Center For Advancing Justice:

1. There are 409,163 Pakistani-Americans in 2010, the 7th largest Asian-American community in America.

2. Pakistani-American population doubled from 2000 (204,309) to 2010 (409,163), the second largest percentage increase after Bangladeshis' 157% increase in the same period.

3. 6% of Pakistani-American population is mixed race.

4. 65% of Pakistanis in America are foreign-born. 57% of foreign-born Pakistani-American population is made up of naturalized citizens.

5. There are 120,000 Pakistani legal permanent residents of which 42% are eligible to naturalize.

6. There were 69,202 immigrant visas issued to Pakistanis from 2001 to 2010, the 5th highest among Asian nations.

7. 28% of Pakistanis have limited English proficiency.

8. Average per capita income of Pakistani-Americans is $24,663.00

9. 15% of Pakistanis are classified as poor; only 1% of them are on public assistance.

10. 8% of Pakistanis are unemployed, a figure lower than the general population of Americans.

11. 55% of Pakistanis own their own homes.

12. 55% of Pakistanis have a bachelor's degree or higher.

13. Median age of Pakistanis in America is only 29 years, lower than most of the Asian groups and the national median age of 36.8 years.

Pakistani-American community is the second fastest growing community in the United States, according to 2010 US Census. It is also a very young community with the median age of just 29 years, compared to 32 years for Indian-Americans and 37 years for all Asian-Americans. 34% of Pakistani-Americans are under the age of 17 compared with 26% of Indian-Americans and 24% of  all Asian-Americans.

More of the Pakistanis in America are college educated than the general population of whites and various immigrant groups. The youthful energy and higher education levels of Pakistani-Americans are opening doors for them to rise and shine in America, in spite of the current economic difficulties in their adopted land of opportunities.

Here's a CBS 60 Minutes segment on Shahid Khan:


 Here's a Forbes interview video of Shahid Khan on his path to success:


Related Links:

Haq's Musings

Pakistani-American NFL Team Owner

Silicon Valley Pakistani-American Wins Big in IPO

Pakistani-American in $500 Million Deal to Buy St. Louis Rams

Shahid Khan's $112 million Luxury Yacht 

Edible Arrangements- A Pakistani-American's Success Story

Pakistani Diaspora World's 7th Largest

Pakistani-American's Game-Changing Vision

OPEN Forum 2010

Pakistani-American Elected Mayor

Huma Abedin Calm Amid Twittergate

Silicon Valley Summit of Pakistani Entrepreneurs

Pakistan's Multi-Billion Dollar IT Industry

Media and Telecom Sectors Growing in Pakistan

Pakistan's Middle Class Growth in 1999-2009

Social Entrepreneurs Target India, Pakistan

3 comments:

Riaz Haq said...

Pakistani-American Dr. Saud Anwar elected mayor of the city of South Windsor, Connecticut

http://southwindsor.patch.com/groups/elections/p/democrats-take-council

http://www.ummid.com/news/2013/November/20.11.2013/connecticut-gets-first-muslim-mayor.html

Riaz Haq said...

Here's a Men's Journal story of Pakistani-American Mixed Martial Arts champ Bashir Ahmed:

In April 2013, Bashir Ahmad stood bleeding in a cage before a 12,000-person stadium crowd in Kallan, Singapore. Having defeated his Thai opponent, the mixed martial arts (MMA) fighter draped the green-and-white Pakistani flag across his shoulders and hoisted his gloved hands as the stadium. The crowd – along with a 500-million-person Asian TV audience – cheered for Pakistan's first national MMA champion. The accolade was made all the more precedent-breaking considering Ahmad's true identity: just a few years earlier, he had served in Iraq as a U.S. soldier. As relations between the U.S. and Pakistan remain strained due to drone strikes, Taliban attacks, and lingering resentment over the unauthorized commando raid on Osama bin Laden, Ahmad has become the unlikeliest of national heroes – an American soldier turned MMA champion. "I've gotten Facebook messages asking how I could be a part of the U.S. army and support the killing of Muslims," he says. "Does it get to me? No. My whole life has been a paradox."
Born in Lahore in 1983, Ahmad moved as a child with his family to Great Falls, Virginia. In 2002, he joined the National Guard to fund his tuition at Virginia Commonwealth University – thinking he'd only spend one weekend a month doing military drills. "When I first got there and asked if they'd served in Afghanistan, they laughed and said 'We can't even make it to the highway without getting lost,'" Ahmad says. Yet nine months after the beginning of the Iraq war, in 2003, Ahmad was deployed to work as a medic on a bomb disposal unit in Mosul – a stronghold of the Sunni insurgency. "Have you seen the movie Hurt Locker?" he says. "That was my day-to-day life. We'd drive five times a day to wherever in the city there was a suspected IED or car bomb."
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Despite his rising star in Pakistan, Ahmad says his time there has shown him how essentially American he remains. "When I came here I was like, 'oh I'll fit right in'," Ahmad says. "No, I was definitely different – a foreigner." Pakistan's pervasive anti-American rhetoric and uncritical nationalism irritated him. "It's so mixed up, it's so ridiculous," he says about the country's political climate. "There are Pakistanis whose whole family is in the U.S. and they want a visa, yet they hate America." One of Ahmad's proudest achievements, beyond the fame and growing success of MMA in Pakistan, is having created something that erases, however modestly, Pakistan's social divides. "These two young waiters at a roadside restaurant told me their lives had changed," Ahmad says. "Guys who would usually order them around were now the same people looking up to them and saying, 'This guy fights for my gym.'"
Ahmad is now splitting his time between Virginia and Pakistan while courting Pakistani expatriates to help fund his league – and admits to not feeling quite at home in either country. "The TSA held me for seven hours at Reagan airport, but then only questioned me for a couple of minutes," Ahmad says, "I expected it but was still like 'Screw you, I'm a vet.'"


http://www.mensjournal.com/adventure/races-sports/pakistans-fight-club-20140313

Riaz Haq said...

Ex #Pakistan Prime Minister Qureshi's #Washington home to sell for $8M. 6th most expensive in DC mkt http://dc.curbed.com/2017/4/3/15163828/home-pakistan-mooen-qureshi-massachusetts-heights?utm_campaign=dc.curbed&utm_content=entry&utm_medium=social&utm_source=twitter … via @curbeddc

The pending sale cost more than Jackie Kennedy’s or Rex Tillerson’s homes

At the moment, this Massachusetts Avenue Heights listing is the sixth most expensive single-family home on the D.C. market. Soon, it will close as one of the priciest sales of 2017 so far, above Jackie Kennedy’s Georgetown home and Rex Tillerson’s Kalorama home. The pending sale is an even $8 million.

The former owner of the home was former acting Prime Minister of Pakistan and the former senior official at the World Bank Mooen A. Qureshi. The late Herbert Haft once lived next door to this listing, and Vernon Jordan Jr., a leading figure in the Civil Rights Movement and close advisor to President Bill Clinton, lives on the same block.

In 2011, the owner of this listing attempted to break records by placing it on the market for $12 million, making it the second-highest residential listing price in prior Washington history. Two years earlier, it was priced at $18.5 million, which was $16 million higher than what the owners at the time bought it for in 2000. It later returned to the market in May 2016 for $8 million.

At one point, the residence was two properties. In 2001, the property was converted into one with eight bedrooms and 13 bathrooms across approximately 15,000 square feet of space and over an acre of land. Other notable features inside include a library, two kitchens, an elevator, and a pool cabana suite.

The listing agent is Eugene Coleman of Coldwell Banker Residential Brokerage.