Shahid Khan
Shahid Khan | |
|---|---|
| Born | Shahid Rafiq Khan July 18, 1950 Lahore, Pakistan |
| Other names | Shad Khan |
| Occupation(s) | Entrepreneur, sports team owner |
| Years active | 1971–present |
| Known for | Owner of Jacksonville Jaguars, Fulham F.C., co-owner of All Elite Wrestling; founder of Flex-N-Gate |
Shahid Rafiq "Shad" Khan (; born July 18, 1950) is a billionaire entrepreneur of Pakistani-American descent and a prominent figure in the sports industry. He is the proprietor of the Jacksonville Jaguars in the National Football League (NFL), owner of Fulham F.C., and co-owner of the American wrestling organization All Elite Wrestling (AEW) alongside his son, Tony Khan. Additionally, Khan is the founder and owner of Flex-N-Gate, a major U.S.-based manufacturer and supplier of automotive parts.
Khan was featured on the cover of Forbes in 2012 as an embodiment of the American Dream. As of January 2025, his net worth was estimated at $13.3 billion. In 2024, he held the 55th position on the Forbes 400 list ranking America's wealthiest individuals and was placed 167th worldwide. He is acknowledged as the richest individual in the automotive parts industry.
Early life and education
Born in Lahore, Pakistan, Khan came from a middle-income family engaged in construction. His mother worked as a mathematics professor, while his father, Rafiq Khan, operated a store specializing in survey and drafting instruments. He had a brother named Tariq Rafiq Khan who passed away at a young age.
At age sixteen, Khan relocated to the United States in 1967 to pursue higher education at the University of Illinois at Urbana–Champaign. During his early days there, he lived in a YMCA room costing $2 per night and earned $1.20 hourly washing dishes. He became a member of the Beta Theta Pi fraternity and completed his Bachelor of Science degree in industrial engineering from the Grainger College of Engineering in 1971. In recognition of his achievements, he was honored with the Mechanical Science and Engineering Distinguished Alumni Award in 1999.
Flex-N-Gate
While studying at the University of Illinois, Khan started working with Flex-N-Gate Corporation and was appointed engineering director following his graduation. In 1978, he launched Bumper Works, a company focused on manufacturing bumpers for custom pickup trucks and body shops. This venture was financed through a $50,000 loan from the Small Business Administration combined with $16,000 from his personal savings.
In 1980, Khan purchased Flex-N-Gate from Charles Gleason Butzow and merged Bumper Works into it. Under his direction, Flex-N-Gate expanded to supply bumpers to major U.S. automakers known as the Big Three and began providing bumpers for Toyota pickups by 1984. By 1987, it became Toyota’s exclusive bumper supplier for pickups within the United States and extended its coverage to all Toyota models by 1989. The incorporation of principles from the Toyota Way significantly improved production efficiency and adaptability. Sales escalated dramatically from $17 million initially to approximately $2 billion by 2010 and reached $8.89 billion by 2020. The company's plant located in Sandusky, Ohio stands as one of the largest light automotive manufacturing facilities nationwide.
By 2019, Flex-N-Gate employed around 25,000 workers across 69 manufacturing sites spanning the United States, China, Argentina, Spain, France, Germany, Mexico, and Canada. Forbes ranked it as the 46th largest privately owned company in America in 2020, while Automotive News listed it as the seventh biggest American automotive parts supplier and thirty-third globally.
In May 2012, OSHA imposed a $57,000 penalty on Flex-N-Gate due to safety infractions identified at its Urbana plant. Prior to that year’s NFL draft, protests were organized by the United Automobile Workers (UAW) union along with environmental activists targeting both Flex-N-Gate and Khan concerning labor practices and environmental issues.
Jacksonville Jaguars
Khan's first effort to acquire an NFL franchise took place on February 11, 2010, when he arranged to purchase a 60% stake in the St. Louis Rams from Chip Rosenbloom and Lucia Rodriguez, subject to NFL approval. Nevertheless, minority owner Stan Kroenke invoked a matching rights clause, maintaining his control over the team.
On November 29, 2011, Khan reached an agreement to buy the Jacksonville Jaguars from Wayne Weaver's ownership group, with the deal receiving NFL endorsement. Weaver publicly confirmed the transaction that day, with Khan pledging to keep the franchise based in Jacksonville, Florida. The acquisition price was $770 million. The NFL owners unanimously endorsed the purchase on December 14, 2011, and the sale was completed on January 4, 2012, marking Khan as the first ethnic minority owner in NFL history.
Khan holds a position on the board of the NFL Foundation and is among three NFL proprietors born outside the United States, alongside Kim Pegula of the Buffalo Bills and Zygi Wilf of the Minnesota Vikings.
Fulham F.C.
In July 2013, Khan took ownership of London’s Premier League football club Fulham F.C. from Mohamed Al Fayed. The transaction closed on July 12, 2013, with an estimated value between £150 million and £200 million; however, the precise purchase amount was not publicly disclosed.
All Elite Wrestling
In 2019, Shahid Khan and his son Tony Khan emerged as principal investors in professional wrestling promotion All Elite Wrestling (AEW). Tony Khan holds the roles of President and CEO. On April 24, 2024, Shahid Khan appeared on-screen for the first time as part of a storyline centered around his son.
Black News Channel
During its two-year lifespan, Khan was the majority stakeholder of Black News Channel.
Personal life
Khan identifies as a non-practicing Muslim. He met Ann Carlson at the University of Illinois in 1967; they married in 1977 and have two children: daughter Shanna and son Tony Khan. He became a naturalized citizen of the United States in 1991.
His real estate holdings include residences in Naples, Florida and Chicago's Gold Coast. In September 2023, he sold the superyacht Kismet to Eric Schmidt, who renamed it Whisper. In 2024, Khan commissioned a larger superyacht to carry on the Kismet name.
Awards and honors
Khan has been honored multiple times by the University of Illinois. These accolades include the Distinguished Alumnus Award from the Department of Mechanical Science and Industrial Engineering in 1999; the Alumni Award for Distinguished Service from the College of Engineering in 2006; and (together with his wife Ann Carlson) the Distinguished Service Award from the University of Illinois Alumni Association in 2005.