Mian Muhammad Mansha: First Pakistani on the Forbes Billionaire’s List

Posted on March 11, 2010
Filed Under >Adil Najam, Economy & Development, People
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Adil Najam

Pakistani tycoon, Mian Muhammad Mansha of the Nishat Group has probably been a billionaire (US$1,000,000,000+) for a while now. But he has finally been ‘officially’ recognized for being one in the latest Forbes magazine “Billionaires’ list” for 2010. He becomes the first Pakistani to make it to the Forbes list.

Mian Mohammad Mansha, from Pakistan, is ranked as being #937 on the Forbes list of billionaires (with a total of 1011 billionaires listed), with an estimated net worth of US1.0 billion (Pak. Rs. 85,000,000,000+ or Pak. Rs. 85 arab!).

According to Forbes his “worth USD 1 billion, is Pakistan’s first billionaire. His Nishat Group is now his country’s largest private employer and the biggest exporter of cotton clothes (for brands like Gap). He sold more than half his shares in a bank for USD 900 million in 2008.”

More details from the Forbes listing:

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.

The big news on the Forbes list is that Mexican businessman Carlos Slim – some of Lebanese immigrants – is now considered the world’s wealthiest man (net worth US$53.5 billion), leaving behind Microsoft founder Bill Gates (#2 at USD53 billion) and super-investor Warren Buffet (#3 at USD47 billion).

But the real news in this year’s list – as has been a trend in recent years – is how the wealth profile of the world is changing and the new “large” monies are being made in the developing world, especially in Asia. Mian Mohammad Mansha is one of the 97 newcomers to the list – of whom 62 are from Asia.

China now lists at the country with the second highest number of billionaires (64 are mainland Chinese, another 25 from Hong Kong and 18 from Taiwan; the USA still has the highest number, 403 of billionaires; India has 49). While Asian billionaires are growing the fastest and China has the highest number of billionaires, India has some of the richest Asians – 10 of the 25 richest Asians are from India and Mukesh Ambani, from India’s Reliance Group, with an estimate net worth of US$29 Billion, is the richest and steel giant Lakshmi Mittal closely following at USD28.7 billion. This gives Ambani and Mittal the fourth and fifth slots on the lost – right behind Carlos Slim, Bill Gates and Warren Buffet.

Also See: Pakistani Engineer to Become New Owner of NFL Team, The St. Louis Rams.

42 responses to “Mian Muhammad Mansha: First Pakistani on the Forbes Billionaire’s List”

  1. nitin says:

    bhai jan,india got more than 50 billionires.3 in top ten.we r still lacking far behind.i hope one day we would be on the top.

  2. checker47 says:

    Mansha has made it to Forbes list through sheer hard work of himself and his forefathers. I wish he would use this wealth to earn a name in heaven by doing 1/50 th of what Bill gates has
    done for charity worldwide.

  3. Hussain Khalid says:

    @ J:

    Mr. Agha Hassan Abedi was just the President of BCCI…he oversaw the bank he never was a billionaire…it may surprise you that he was an employee of the bank not even it’s owner! when BCCI collapsed regulators from around the world couldn’t find it’s owners as it was owned by itself or by several overseas companies!

    @ Irfan Mirza:

    well…asif zardari and nawaz sharif are definitely billionaires in US$ and so is ghulam mustafa khar and so was ghulam mustafa jatoi: he owned more than 100,000 acres of land in sindh…but how did they accumulate such wealth? that is the question…forbes magazines takes into account wealth accumulated by ‘honest’ means…not bestowed upon by the british raj or so on…nawaz sharif when it comes to paying taxes…does not even own a single car!! has got his debts written off frm all the major banks in pakistan…

    both asif zardari and benazir bhutto got red notices issued from the interpol…in 2005 or 2006…which means they could hav been arrested anywhere in the world…on the other hand…when quaid-e-azam wrote a letter to mian mansha’s father explaining to him the financial bankruptcy of the nascence state of Pakistan….that man sent a blank cheque to qauid-e-azam…!

  4. Irfan Mirza says:

    Asif Ali Zardari and Nawaz Sharif are probably 2 more Billionaires in Pakistan which Forbes have ignored.

  5. shahid rana says:

    i want to say this particular man to thank Allah who chosed him among the muslims so plz take care of your responsibilities Allah give you more to serve muslims(ameen)

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