Shahid "Shad" Khan (born July 18, 1952) is a Pakistani-born American billionaire businessman. He is the owner of the Jacksonville Jaguars of the National Football League (NFL), the English Football League Championship team Fulham F.C., and automobile parts manufacturer Flex-N-Gate in Urbana, Illinois.
As of September 2013, Khan's net worth is over $3.8 billion. He is ranked 122nd in the Forbes 400 list of richest Americans and is overall the 490th wealthiest person in the world. He is also the richest person of Pakistani origin.
Khan was featured on the front cover of Forbes Magazine in 2012, associating him as the face of the American Dream.
Early life
Khan was born in Lahore, Pakistan to a middle-class family who were involved in the construction industry. His mother (now retired) was a professor of mathematics. He moved to the United States in 1968 at age 16 to study at the University of Illinois at Urbana–Champaign. When he came to the United States, he spent his first night in a $2/night room at the University Y-YMCA, and his first job was washing dishes for $1.20 an hour. He joined the Beta Theta Pi fraternity at the school. He graduated from the UIUC College of Engineering with a BSc in Industrial Engineering in 1971. Khan acquired US citizenship in 1991. He is a Muslim.
Flex-N-Gate
Khan worked at the automotive manufacturing company Flex-N-Gate while attending the University of Illinois. When he graduated he was hired as the engineering director for the company. In 1978, he started Bumper Works, which made car bumpers for customized pickup trucks and body shop repairs. The transaction involved a $50,000 loan from the Small Business Loan Corporation and $16,000 in his savings.
In 1980 he bought Flex-N-Gate from his former employer Charles Gleason Butzow, bringing Bumper Works into the fold. Khan grew the company so that it supplied bumpers for the Big Three automakers. In 1984 he began supplying a small number of bumpers for Toyota pickups. By 1987 it was the sole supplier for Toyota pickups and by 1989 it was the sole supplier for the entire Toyota line in the United States. Adopting The Toyota Way increased company efficiency and ability to change its manufacturing process within a few minutes. Since then the company has grown from $17 million in sales to an estimated $2 billion in 2010.
Since early 2012 Shad and Ann Khan have focused their philanthropic giving in the Jacksonville community through the Jaguars Foundation. Through the Foundation they provided more than $1 million in grants in 2012 and $1.6 million in 2013 to children’s and family programs, as well as other NFL and team-related initiatives. The Foundation also donates more than 11,000 charitable tickets with an in-kind value of nearly $500,000 annually. The Khans’ charitable initiatives include a $1 million commitment to the City of Jacksonville’s Veterans Resource and Reintegration Center, as a partner in the mayor’s initiative to military service members transitioning back to civilian life. The Khans also made a six-figure challenge matching grant to the North Florida Boy Scouts, contributions to fund the NFL/Jaguars Play 60 program in partnership with Baptist Health, and grants to support community improvements. Khan also supported the One Spark event in Jacksonville in April 2014 with his second consecutive $1 million pledge to support creativity and innovation.
By 2011, Flex-N-Gate had 12,450 employees and 48 manufacturing plants in the United States and several other countries, and took in $3 billion in revenue.
In May 2012, the Occupational Safety and Health Administration fined Flex-N-Gate $57,000 for health violations at its Urbana plant.
Jacksonville Jaguars
Khan's first attempt to purchase a National Football League team came in February 11, 2010, when he entered into an agreement to acquire 60 percent of the St. Louis Rams from Chip Rosenbloom and Lucia Rodriguez, subject to approval by other NFL owners. However, Stan Kroenke, the minority shareholder of the Rams, ultimately exercised a clause in his ownership agreement to match any proposed bid.
On November 29, 2011, Khan agreed to purchase the Jacksonville Jaguars from Wayne Weaver and his ownership group subject to NFL approval. Weaver announced his sale of the team to Khan later that same day. The terms of the deal were not immediately disclosed, other than a verbal commitment to keep the team in Jacksonville, Florida. The sale was finalized on January 4, 2012. The purchase price for 100% share in the Jaguars was estimated to have been $760 million. The NFL owners unanimously approved the purchase on December 14, 2011. The sale made Khan the first member of an ethnic minority ever to own an NFL team.
Fulham F.C.
In 2013, Khan complemented his sports club portfolio with his purchase of the London-based Fulham Football Club. As chairman of Fulham, Khan became the only person in the world to own 100 percent of both an NFL club and a Barclays Premier League team. Fulham will play in the Sky Bet Championship division of The Football League in 2014-2015.
In July 2013 Khan negotiated the purchase of the London soccer club Fulham of the Premier League from its previous owner, Mohamed Al Fayed. The deal was finalized on July 12, 2013 with the amount estimated between £150–200 million. An official purchase price for the club was not announced with Khan stating that it was "highly confidential".
Recognition
Khan has received a number of awards from the University of Illinois, including a Distinguished Alumnus Award in 1999 from the Department of Mechanical Science and Industrial Engineering, the Alumni Award for Distinguished Service in 2006 from the College of Engineering, and (with his wife, Ann) the Distinguished Service Award in 2005 from the University of Illinois Alumni Association.
Shahid Khan net worth: Shahid Khan is a Pakistani-born entrepreneur who has a net worth of $4.2 billion dollars. Born in Lahore, Punjab, Pakistan, Shahid Khan came to the United States in his late teens to attend the University of Illinois at Urbana-Champaign's School of Mechanical and Industrial Engineering. After graduating in 1971, he became the engineering director for Flex-N-Gate, an automobile manufacturing company. He subsequently started his own company, Bumper Works, in 1978. His company specialized in car bumpers and became so successful, that he was able to purchase Flex-N-Gate. The larger company became the primary supplier of bumpers to the major car manufacturers in the United States, and then became the sole supplier for Toyota. It has since grown to 48 plants, employing over 12,000 people, and pulls in $3 billion per year. Shahid Khan recently became the majority owner of the Jacksonville Jaguars NFL team. The sale was finalized in mid-December 2011 and his ownership will go into effect in 2012.
Along with his wife, fellow University of Illinois alum Ann Carlson Khan, the Khans’ gifts to the University of Illinois have enriched the university and community through donations to the Krannert Center for the Performing Arts, the University Library; the College of Business; and the College of Applied Health Sciences, where they have funded five endowed Khan Professorships and the Khan Annex—a 24,000 square foot facility with state-of-the-art laboratories, instructional, and professional collaboration spaces. The Khan Outdoor Tennis Complex on the University of Illinois campus will hosted the 2013 NCAA Men’s and Women’s Tennis Championships.
In 2007 the Khan Foundation was formed to expand research in the Applied Health Sciences, with Mrs. Khan serving as the foundation’s president. Since its inception, the Foundation has given out more than five million dollars in grants nationwide—to libraries; organizations such as Crisis Nursery and the YMCA; and to UCLA for pediatric non-embryonic stem cell research. In 2011 Mr. Khan became a Lincoln Laureate, the state’s highest award for achievement given by the Lincoln Academy of Illinois, for his philanthropic work in the state.
Personal
Mr. Khan shares his passion for the American dream with his family. The Khans have passed on their commitment to work and service to their two grown children, Shanna and Tony Khan. Tony is the Jaguars’ senior vice president, football technology and analytics.
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