Shahid Khan

It is also ranked by Automotive News as the 7th largest American automotive parts supplier and overall 33rd largest supplier in the world.

Shahid Rafiq "Shad" Khan (born July 18, 1950) is a Pakistani-American billionaire businessman and sports tycoon.

He is the owner of Flex-N-Gate, an American supplier of motor vehicle components.

Khan is also the owner of the Jacksonville Jaguars of the National Football League (NFL) and Fulham F.C. of the, and co-owner of the American wrestling promotion All Elite Wrestling (AEW), along with his son, Tony Khan.

Khan moved to the United States in 1967 at the age of 16 to study at the University of Illinois at Urbana–Champaign.

When he went to the United States, he spent his first night in a $2/night room at the university 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 Grainger College of Engineering with a BSc in industrial engineering in 1971.

In 1978, he started Bumper Works, which made car bumpers for customized pickup trucks and body shop repairs.

The funds to start the new business included a $50,000 loan from the Small Business Administration and $16,000 of his own 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.

He later was awarded the Mechanical Science and Engineering Distinguished Alumni Award in 1999.

Khan worked at the automotive manufacturing company Flex-N-Gate Corporation while attending the University of Illinois.

When he graduated he was hired as the engineering director for the company.

Since then, the company has grown from $17 million in sales to an estimated $2 billion in 2010 to $8.89 billion in 2020.

Khan's first attempt to purchase a National Football League team came on February 11, 2010, when he entered into an agreement to acquire 60% of the then-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 purchase price was $770 million.

The NFL owners unanimously approved the purchase on December 14, 2011.

Khan was featured on the front cover of Forbes magazine in 2012, associating him as the face of the American Dream.

As of March 2023, Khan's personal net worth is $12.1 billion.

In 2021, he ranked 94th in the Forbes 400 list of richest Americans, and is the 291st richest person in the world.

Khan is the richest auto parts magnate ahead of Georg F. W. Schaeffler who has a net worth of $9.1 billion.

He is also the wealthiest person of Pakistani origin.

Khan was born in Lahore, Pakistan, to a middle-class family involved in the construction industry.

His mother (now retired) was a professor of mathematics, and his father Rafiq Khan used to have a shop that sold survey and drawing equipment.

Shahid Khan also had a brother named Tariq Rafiq Khan, who died in his early 20s.

In May 2012, the Occupational Safety and Health Administration fined Flex-N-Gate $57,000 for health violations at its Urbana plant.

Before the 2012 NFL Draft, the United Automobile Workers (UAW) and other environmentalist groups organized a campaign for several accusations against Flex-N-Gate and Khan.

The sale was finalized on January 4, 2012, making Khan the first member of an ethnic minority to own an NFL team.

Khan is a board member of the NFL Foundation.

By 2019, Flex-N-Gate had 25,000 employees and 69 manufacturing plants in the United States, China, Argentina, Spain, France, Germany, Mexico and Canada.

In 2020, it had a revenue of $8.9 billion and was ranked as the 46th largest privately held American company by Forbes.