Naples, FL

The richest person in Naples, Florida

Luay Rahil
Photo byAlex on Unsplash

Do you know who said this statement?

"We can’t become a nation of hamburger flippers and insurance salesmen."

The person who said the statement above is a first-generation immigrant. He immigrated to the United States in 1967 at 16 and created something out of nothing. He's known for his charming character, unwavering optimism, thick mustache, and wavy hair. His name is Shahid Rafiq Khan, and according to Forbes, his net worth exceeds $11.2 billion, making him the fifth richest person in Florida and the fourth richest NFL owner.

Who is Shahid Rafiq Khan?

Shahid Rafiq Khan is a Pakistani-American billionaire business executive and sports magnate. Shahid Rafiq Khan owns the Jacksonville Jaguars of the National Football League, Fulham F.C. of the English Football League, and is co-owner of the American wrestling promotion All Elite Wrestling.

Khan was born in Lahore, Pakistan. His mother was a professor of mathematics, his father owned a small shop that sold survey and drawing supplies, and he had one brother who died in his early 20s. Khan immigrated to the United States in 1967 at 16 to study Industrial Engineering at the University of Illinois in Champaign-Urbana, two hours south of Chicago.

While studying at the University of Illinois, a farming entrepreneur, Charles Gleason Butzow, recruited Shahid Khan as its chief engineer to help him grow his booming vehicle parts firm, Flex-N-Gate. The company created a one-piece truck bumper used in one in five cars in North America. Khan became Butzow's second son and stayed with the company until Butzow retired and ultimately raised enough money to purchase it from interim owners Scott & Fetzer in 1980. The company became a Lamborghini, Jaguar, BMW, and Bentley supplier.

However, Charles Gleason Butzow's family is very disappointed that Khan didn't send a card or condolences when Charles Gleason Butzow passed away in 2005. Today, the company has 26,000, and its annual revenue exceeds $8.6 billion.

In 2011, Shahid Rafiq Khan purchased the Jacksonville Jaguars. Khan bought Jacksonville Jaguars for $770 million in 2011 from Wayne Weaver, who acknowledged Khan's appeal.

"My dream is to see this team succeed in Jacksonville, and I found a person who has the commitment and passion. He wanted to buy a team, and he wanted to do it here in Jacksonville. This gentleman is absolutely the American story." Wayne Weaver.

This purchase made Khan the first ethnic minority owner in the NFL.

Two years after purchasing the Jaguars, Shad Khan grew his sports footprint in Europe by finalizing a deal to acquire the London-based Fulham Football Club for $300 million from the Egyptian entrepreneur Mohamed Al-Fayed who paid $45 million for Fulham in 1997, and in 2019, Shahid and his son Tony were the key investors behind All Elite Wrestling.

They are partnering on this venture with some of the biggest names in professional wrestling, including former WWE superstar Cody Rhodes and "Hangman" Adam Page. They are calling themselves Elite.

Shahid supports Donald Trump's economic issues.

In 2020, he said, “I had been a big fan of his economic policies, and I think we are benefiting from it." However, he disagrees with Trump on social issues, "I think it’s very clear on social issues—immigration, religion, what have you—I think we need to have a different viewpoint."

Khan was among the few NFL owners who donated at least $1 million to Donald Trump's inaugural committee and has been criticized for it. He lives in Naples, Florida, with his wife.

If you had Khan's money, what sports would you invest in?

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