Pakistani-American Shahid Khan features in Forbes richest list

A Pakistani-American has emerged as the 66th richest person in the United States in 2020, according to the Forbes list of 400 richest Americans published on Tuesday

Shahid Khan, with a net worth of $7.8 billion, is an engineer by trade and is the only Pakistani-American on the list. He has been on the list for the past few years. He migrated to the US in his teens, with a few hundred dollars in his pocket.

Amazon founder and CEO Jeff Bezos topped the list for the third year in a row, with a net worth estimated to be $179bn. Number two on the list, Bill Gates, was estimated to have net worth of $111bn.

Khan bought auto parts supplier Flex-N-Gate from his former employer in 1980 and his design for a one-piece truck bumper was the basis for his success. Khan's company now has 64 plants worldwide and over 24,000 employees.

He also owns the NFL's Jacksonville Jaguars, which he bought in 2012, and UK's Fulham football club, which he bought in 2013.

in 2019, he and his son, Tony, launched All Elite Wrestling, a professional wrestling entertainment company and a competitor to WWE, in 2019. Khan is also a major financial backer of Black News Channel, a 24-hour cable news channel, which launched in February 2020.

Khan is ranked at 163rd place on the Billionaires 2020 list.

Facebook's Mark Zuckerberg came in on third place on the list with a total worth of $85bn while Tesla and SpaceX founder, Elon Musk, was seventh on the list with a net worth of $68bn.