Who are the richest Pakistanis?

Pakistan’s wealthiest business families and corporate giants have been ranked in a new report, with Bestway Group founder Sir Anwar Pervez topping the list as the country’s richest businessman, holding more than $3.6 billion in investments.

The report, issued by the Economic Policy and Business Development think tank, also places the Fauji Foundation and Taba Group among the top three, highlighting a mix of old-guard conglomerates and emerging industrial players shaping the country’s economy.

In second place is the Fauji Foundation, a military-linked enterprise with an estimated $2.25 billion in investments, followed by the Taba Group with $1.88 billion. The Pakistan Tobacco Company ranks fourth, investing over $1.18 billion.

Top 10 business groups & personalities by investment

1. Sir Anwar Pervez (Bestway Group) – $3.62 billion
2. Fauji Foundation – $2.25 billion
3. Taba Group – $1.88 billion
4. Pakistan Tobacco Company – $1.18 billion
5. Mir Shakil-ur-Rahman (Ibrahim Group) – over $1 billion
6. Aga Khan Group – $954 million
7. Mian Muhammad Mansha (Nishat Group) – $920 million
8. Sardar Yasin Malik, Aqeel Karim Dhedhi, Bashir Jan Muhammad, and Mian Amer Mehmood – major industrialists
9. Nasreen Kasuri, Jahangir Tareen, and Aleem Khan – among Pakistan’s ultra-wealthy
10. Gohar Ejaz (Lake City Holdings) – $2.5 billion in assets

Prominent families and public companies

Among the 40 billionaire families listed, Syed Babar Ali, founder of the Packages Group, is ranked as the most prominent, with a personal net worth of $1.6 billion. Other key figures include Fawad Mukhtar (Fatima Group) and Gohar Ejaz, who continue to play influential roles in Pakistan’s economy.

Major corporate valuations in the report include:

1. Dawood Group – $2.39 billion
2. Meezan Group – $2.38 billion
3. Arif Habib Group – $1.57 billion
4. Aga Khan Group – $1.56 billion
5. Attock Group – $1.35 billion
6. Pakistan Tobacco Company – $1.245 billion
7. Sapphire Group (Mian Abdullah) – $1.2 billion
8. Lakhani Group – $1.2 billion
9. House of Habib – $1.17 billion
10. Mir Ibrahim Group – over $1 billion

Generational wealth: Old guards and new titans

The report notes a generational shift in Pakistan’s industrial landscape.

Of the original 22 billionaire families from previous decades, only five remain dominant today. Meanwhile, 35 new billionaire business families have risen over the past 50 years.

Enduring names include:

• Syed Babar Ali (Packages Group)
• Hussain Dawood (Engro, Dawood Hercules)
• Habib Rafiq Group
• Tariq Saigol Group

Regulatory concerns: CCP flags corporate malpractice

Despite the impressive scale of investments, the rise of billionaire empires has attracted scrutiny. The Competition Commission of Pakistan (CCP) has raised red flags over corporate transparency, particularly in sectors such as sugar, where false production data has allegedly been submitted to influence policy decisions and secure subsidies.

The allegations have reignited debate around data manipulation, tax evasion, and the impact of political influence on wealth accumulation.

Regulators are calling for stricter oversight, especially in industries where consumer pricing and public interest are most vulnerable.

Inequality amid growth

The emergence of new industrial elites comes at a time when Pakistan grapples with fiscal deficits, stagnant growth, and structural reform pressures under ongoing IMF supervision.

“The rise of new billionaire families reflects Pakistan’s evolving business landscape, but also raises questions of equitable growth and regulatory fairness,” noted one analyst quoted in the report.

As the country prepares for another economically challenging year, the findings have injected fresh urgency into the national conversation around wealth concentration, corporate governance, and economic justice.