Khan owns Flex-N-Gate, an autoparts manufacturer with revenue of $9 billion in 2020. The Urbana, Illinois-based company is closely held and operates more than 60 manufacturing plants in the US He paid $770 million for the NFL’s Jacksonville Jaguars in 2011 and $300 million for London-based Fulham Football Club in 2013.
Shahid Khan's net worth of $7.61B can buy ...
... and is equivalent to ...
The majority of Khan's fortune is derived from his sole ownership of Flex-N-Gate, a closely held auto-parts maker. The company had revenue of $9 billion in 2020, according to Automotive News' June 2021 Top Suppliers list. The company is valued using the average enterprise value-to-Ebitda and enterprise value-to-sales multiples of two publicly traded peer companies: Valeo SA and Lear Corp.
Khan also owns two professional sports teams. He bought the National Football League's Jacksonville Jaguars in 2011 for $770 million. It's valued at $2.7 billion based on a September 2021 report by valuation consultants Sportico. Khan is the sole owner, according to an article on the team's website.
Khan purchased English soccer team Fulham Football Club for $300 million in 2013. It's valued based on its 2021 financial results and the average enterprise value-to-sales multiple of two comparable soccer teams: AFC Ajax and Manchester United.
His cash holdings are valued based on an analysis of purchases and closely-held asset sales dating back to 2010.
Jim Woodcock, a spokesman for Khan, said the billionaire declined to comment on his net worth.
Shahid Khan was born in Lahore, Pakistan, in 1950. His mother was a math professor and his father sold surveying equipment. He moved to the U.S. to study engineering at the University of Illinois, Urbana-Champaign at age 16, and started working at auto-parts maker Flex-N-Gate while in school. He was hired as the engineering director after graduating. He started bumper-maker Bumper Works in 1978, and bought his former employer Flex-N-Gate two years later.
Over the next three decades, Khan expanded the closely held company into a business with more than 60 manufacturing plants across the U.S. and sales of more than $8 billion. He tried to buy the National Football League's St. Louis Rams in 2010, and failed when billionaire Stan Kroenke exercised his right of first refusal to buy the team. Khan purchased the Jacksonville Jaguars for about $770 million a year later and in 2013 the Fulham Football Club, then of the English Premier League.