Sadruddin Hashwani

Sadruddin Hashwani
Born (1940-02-19) 19 February 1940
Karachi, British India
Residence Islamabad, Pakistan
Nationality Pakistani
Alma mater

University of Karachi

NET worth = 11 billion USD
Occupation Businessman
(Hashoo Group)

Sadruddin Hashwani is a Pakistani business tycoon, billionaire and author. He is the founder and chairman of Hashoo Group, a conglomerate best known for Pearl-Continental Hotels & Resorts. As of 2005, Hashwani is the fifth-wealthiest Pakistani with an estimated net worth of 8 billion dollars [1][2]

Life

Born in Karachi, British India into a Gujarati Khoja[3] Shia Ismaili family, Hashwani studied at the University of Karachi and in 1960 founded the Hassan Ali Company along with his brother. By 1970s, it had become Pakistan's largest cotton trading company. However, the company was nationalised in 1973. In 1978, he launched the Holiday Inn hotel in Islamabad, and in Karachi in 1981. Both of the hotels were converted into Marriott brand in 1990s. In 1985, Hashwani made a successful bid for the majority shares of Pakistan Services Limited, which then owned four Inter-Continental Hotels across Pakistan, the hotels were re-branded as Pearl-Continental Hotels.[4]

In 2014, Hashwani published his best-selling memoir Truth Always Prevails.[5][6] In May 2011 in a press conference, he expressed his support for Pakistan and its institutions, particularly military and expressed confidence in the abilities of Pakistanis.[7] In April 2016, he and his son, Murtaza Hashwani, were named in the Panama Papers.[8]

Net worth

Hashwani is a billionaire. In 2005, he was named 5th-richest person in Pakistan with net worth of ₨115.8 billion (equivalent to ₨350 billion or US$3.4 billion in 2013).[9]While in 2018 he is estimated to have a net worth of over 10 billion USD with assests valued at over 5 billion USD.

References

  1. ↑ "Sadruddin Hashwani". A tribute to Amazing Pakistanis.
  2. ↑ "Chairman Hashoo Group: Saddaruddin Hashwani - Pak Economy". Pak Economy. 2016-01-07. Retrieved 2016-11-05.
  3. ↑ Patel, Aakar (March 10, 2011). "Why India is part dysfunctional, fully functional". Livemint.
  4. ↑ "PROFILE OF CONTESTANTS OF DIRECTORS' ELECTION" (PDF).
  5. ↑ Wasim, Amir (2014-11-18). "Zardari tried to kill me, Hashwani alleges in his book". DAWN.COM. Retrieved 2016-11-05.
  6. ↑ "Book review: Truth Always Prevails - let truth be told - The Express Tribune". The Express Tribune. 2014-12-07. Retrieved 2016-11-05.
  7. ↑ "The News International: Latest News Breaking, Pakistan News".
  8. ↑ Zain, Ali (4 April 2016). "Exposed By Panama Papers: List of Pakistani politicians, businessmen and judges who own offshore companies". Daily Pakistan. Retrieved 12 April 2016.
  9. ↑ "President Asif Ali Zardari 2nd most Richest man of Pakistan". Daily Pakistan. 26 October 2008. Archived from the original on 13 January 2012. Retrieved 5 August 2017.
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