Sadruddin Hashwani

Sadruddin Hashwani
Born (1940-02-19) 19 February 1940
Karachi, British India
Residence Islamabad, Pakistan
Nationality Pakistani
Alma mater University of Karachi
Occupation Businessman
(Hashoo Group)
Net worth ₨115.8 billion (equivalent to ₨350 billion or US$3.4 billion in 2013)[1]

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 5th wealthiest Pakistani with an estimated net-worth upward of a billion US dollars.[2][3]

Life

Born in Karachi, British India into a 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).[1]

References

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