Meet Mian Muhammad Mansha, who is the first billionaire in Pakistan's history. Here's everything you need to know about 'Pakistan's Mukesh Ambani'.
Mian Muhammad Mansha is the second richest person in Pakistan and is one of the few business tycoons who have proved the mettle of their intelligence on the global market. He is the founder and owner of Nishat Group, a conglomerate that not only operates in Pakistan but has also spread its wings across the UAE, Canada, and Saudi Arabia. It is one of the biggest conglomerates in Pakistan, and it is centred around textile and fashion. Courtesy of being the owner of such a large conglomerate, Mian Muhammad Mansha and his family are among the highest tax-payers in the country.
The Pakistani billionaire businessman, Mian Muhammad Mansha was born into a well-to-do family in 1941 in West Bengal. However, during the partition, his family chose to go to the newly-formed nation, Pakistan and settled in Faisalabad, near Lahore. It wasn't an easy task for his family to set up their business right from scratch, but Mian Muhammad Mansha's father took the challenge and completed it. His father and uncles started a cotton ginning business by the name Nishat Mills in 1951, and it took off instantly.
Recommended Read: Meet Pakistan's Richest Woman, Iqra Haasan: Comparing Her Net Worth With Billionaire, Mukesh Ambani
The major factor behind their growth was the 1950-53 Korean War, which increased cotton demand to the next level. It was a massive opportunity for cotton producers, and Nishat Mills capitalised on it and made huge profit numbers during the Korean War. It was a major turning point for Nishat Mills, as they also made a strong reputation in the market for delivering products on time without compromising on their quality.
Talking about Mian Muhammad Mansha's educational background, he completed his education from a co-educational convent school, Sacred Heart School. After this, his family sent him to London, where he took admission at Hendon College and pursued a degree in business administration from there. However, he returned to Pakistan before completing his degree in London because his father, Mian Mohammad Yahya was diagnosed with cancer.
After returning to Pakistan in 1968, Mian Muhammad Mansha devoted himself to taking care of his father, who was battling against cancer. As per multiple reports, due to his father's battle with cancer, Mian Muhammad Mansha got married to Naz Saigol quite early, at the age of 21-22 years. It was an arranged marriage which his father, Mian Mohammad Yahya, finalised. However, Mian Muhammad knew the girl, as they were classmates in school. She was the daughter of the renowned industrialist of that era, Yusuf Saigol. After Mian Muhammad and Naz's wedding, the former's father passed away in 1969 due to cancer.
It was a heartbreaking phase for Mian Muhammad Mansha as he lost his father at the age of 22. However, the youngster took over the command of his father's Nishat Mills. The mill was profitable at that time but not as much as his uncles' factories, which were running in East Pakistan. Mian Muhammad Mansha had two choices back then, one was to take care of Nishat Mills or to go to East Pakistan to get his father's share in them. However, the youngster chose the path with fewer quarrels, as he told his uncles that he didn't want any share in their factories in East Pakistan.
The move turned fruitful for Mian Muhammad Mansha, as his uncles lost everything during the 1971 separation of East Pakistan. While some people call it a lucky decision by Mian Muhammad Mansha, most credit his wife, Naz Saigol, and call it his 'lady luck'.
Don't Miss: Parveen Rizvi AKA Sangeeta's Net Worth: Pakistan's Richest Hindu-Actress, Who Is Aunt Of Jiah Khan
In the coming years, Mian Muhammad Mansha and his wife, Naz Mansha welcomed three children, Mian Hassan Mansha, Mian Umer Mansha, and Mian Raza Mansha. As per reports, all three kids studied in London and now handle various branches of the Nishat Group. What started as a mere textile mill in Faisalabad is now the largest conglomerate in Pakistan. For the unversed, Nishat Group deals in almost every major sector in Pakistan. Some of them are the likes of DC Khan Cement, MCB Bank, Nishat Chunian, Lal Pir Power, Nishat Automobile, Pakistan Aviators & Aviation, Nishat Hotels and Properties Limited, Nishat Agriculture Farming (Private) Limited, and many more.
In the following years, Mian Muhammad Mansha became one of the richest people in Pakistan. However, it was in 2010 that he was included in Forbes' List of Richest Men in the World. The visionary businessman was placed at the 937th spot with an estimated worth of Rs. 5 billion back in 2010. Due to his incredible success with Nishat Group, he became Pakistan's first billionaire and was dubbed by Pakistanis as 'Pakistan's Mukesh Ambani'.
You Don't Miss: Meet Amar Singh Chamkila's First Wife, Gurmail, Who Lived In The Shadows Of His Second Wife, Amarjot
According to a report in DNA, Pakistan's first billionaire, Mian Muhammad Mansha currently has an estimated net worth of over 80 billion USD. From owning expensive cars like Mercedes E-Class, Jaguar convertible, Porsche, BMW 750, Range Rover, and Volkswagen to owning luxurious properties in London and different parts of Pakistan, Mian Muhammad Mansha is currently the second richest person in Pakistan. Apart from being a business magnate, he also has a lot of political connections and is considered as one of the most influential people in Pakistan.
What are your thoughts on Mian Muhammad Mansha's transformation of his father's textile mill into Pakistan's largest conglomerate? Let us know.
Also Read: YouTuber, Dhruv Rathee Fell In Love With His German Wife On A Tram While She Was Going To School