Mian Mohammad Mansha

About Mian Mohammad Mansha

Birth Year: 1947
Birth Place: Pakistan
Residence: Lahore, Punjab, Pakistan
Citizenship: Pakistan
Alma mater: University of Punjab
Occupation: Businessman
Spouse(s): Naz Mansha
Children: 4

Mian Mohammad Mansha Net Worth

Mian Mohammad Mansha was bornon 1947 in Pakistan. Pakistan's first billionaire. Born during the tumultuous Partition winter of 1947, when his parents were among those Muslim families making the trek from India to Pakistan. His father and uncles jumped into textiles with Nishat Mills in 1951. Mian went to college in the U. K.; joined family business after graduation. Father died one year after his return. Eventually split with uncles and took over his family's business in West Pakistan decades ago. (The East Pakistan division later went bankrupt). His Nishat Group is now Pakistan's largest exporter of cotton clothes (for brands like Gap) and nation's largest private employer; also invests in power projects, cement and insurance. Smart bet in banking: Won a controversial bid for Muslim Commercial Bank during the country's privatization push in 1991. Sold more than half of his MCB shares for $900 million May 2008.

💰 Net worth: $1 Billion

Some Mian Mohammad Mansha images

Biography/Timeline

1930

In the 1930s, the Mansha family had migrated to Bengal from Punjab. After 1947 Partition of British India, the family returned to Punjab, Pakistan. Mian Muhammad Mansha's Father started a cotton ginning Business which later became the Nishat Textile Mills. Mansha was born in Lahore to a wealthy Chinioti Punjabi family, his privileged upbringing allowed him to enjoy an early Business education at the University of Punjab in Lahore. Although his childhood was spent in Faisalabad from where he also started his career as one of the most prominent industrialists of Pakistan. Nishat Textiles Mills was started in 1951 by his Father and uncles. His Father died one year after he returned from London after finishing his studies there in 1968. Mian Muhammad Mansha joined the family Business in 1969 and eventually he split with his uncles and took over the family Business. He was worth US $2.5 billion till 2013. Apart from making large acquisitions, he was simultaneously expanding his Nishat Textiles segment. Nishat Textiles Mills is Pakistan's largest fabric Manufacturing mills.

1979

After 1979, Mansha set up Pakistan's largest textile complex of seven mills in Nishatabad in the city of Faisalabad. In later years, another textile complex followed in Chunian near Lahore.

1990

Mansha's conglomerate greatly benefited from the privatization drive by the governments of the 1990s. Through this period, he made a number of acquisitions and buy-outs, including engineering at least one hostile takeover. When the dust settled, Mansha had acquired a controlling position in Adamjee Group, the country's largest non-life insurer. Nishat Mills also acquired two thermal plants near its DG Khan Cement Plants located in Dera Ghazi Khan District, Punjab, previously owned by the Saigol family. Business analysts in Pakistan reportedly said that the acquisition of two thermal plants would ensure uninterrupted power supply to D. G. Khan Cement Plants for the Nishat Group. While going through these large acquisitions, he was simultaneously expanding his Nishat Textiles segment, Nishat Textiles Mills is Pakistan's largest fabric Manufacturing mills.

2004

Mansha is currently on the board of various prominent institutes in Pakistan and is one of the most powerful and influential people in the country. He was awarded the Sitara-e-Imtiaz civil award by President of Pakistan Pervez Musharraf on 23 March 2004. One of Mansha's companies, Nishat Textile Mills Limited, is the largest exporting entity in Pakistan.

2005

Mansha was named richest Pakistani in 2005 by Daily Pakistan with net worth of 263.3 billion (equivalent to 810 billion or US$7.7 billion in 2013). In March 2010, Mansha was mentioned in Forbes billionaires list.But his fellow billionaires have indicated that his net-worth is well over 20 billion USD as of 2017 excluding fixed assets which are in excess of 15 billion USD.

2008

MCB Bank, in 2008, started a partnership with Maybank of Malaysia. Maybank now has a 20% share in MCB Bank. In 2009, Mian Muhammad Mansha, chairman MCB Bank, said that his efforts were successful in continuing to bring foreign investment to Pakistan and that his bank had already brought 970 million U.S. dollars' investment into the country from Malaysia following a deal with May Bank, Malaysia. He was selected for a special Lunch with the UK Financial Times newspaper. According to Forbes listings in 2010, he was the 937th richest person in the world & no. 1 in Pakistan.