Pakistani-American Richest South Asian in America
By Riaz Haq
With a net worth of $3.8 billion, Shahid Khan tops the Forbes list of the richest Americans of South Asian origin. Overall, Khan ranks 122nd on Forbes 400 list for 2013 , up from 179th in 2012.
Born in Pakistani city of Lahore, 63-year-old Shahid Khan is a mechanical engineer and a self-made billionaire who built his fortune as a top supplier of bumpers to the auto industry. Khan made history in 2011 by becoming the first non-white owner of a National Football League team when he bought Jacksonville Jaguars. Recently, he acquired an English soccer team Fullham for $300 million.
There are four Indian-Americans on Forbes 400 this year: Syntel chairman and co-founder Bharat Desai and his family, Symphony Technology Group founder and chairman Romesh T. Wadhwani, Google investor Kavitrak Ram Shriram and venture capitalist Vinod Khosla, according to India West newspaper.
Desai, 60, who lives in Fisher Island, Fla., is in 252nd place with a $2.2 billion net worth. He was in 239th place in 2012.
Wadhwani, 66, has a net worth of $2.1 billion, good for 260th place on the Forbes list. The resident of Palo Alto, Calif., was listed 250th last year.
Shriram, 56, a resident of Menlo Park, Calif., and a managing partner of Sherpalo Ventures, is in 325th place with assets of $1.75 billion. He dropped from the 298th spot in 2012.
Khosla, whose Khosla Ventures continues to invest in green energy and other forward-looking technologies, is in 352nd place with a worth of $1.5 billion. The 58-year-old Sun Microsystems co-founder was 328th last year. He lives in Portola Valley, Calif.
Here are some of the highlights of Pakistani-American data from US Census 2010 as gleaned from a report titled "A Community of Contrasts Asian Americans in the United States: 2011" published by Asian-American Center For Advancing Justice :
1. There are 409,163 Pakistani-Americans in 2010, the 7th largest Asian-American community in America.
2. Pakistani-American population doubled from 2000 (204,309) to 2010 (409,163), the second largest percentage increase after Bangladeshis' 157% increase in the same period.
3. 6% of Pakistani-American population is mixed race.
4. 65% of Pakistanis in America are foreign-born. 57% of foreign-born Pakistani-American population is made up of naturalized citizens.
5. There are 120,000 Pakistani legal permanent residents of which 42% are eligible to naturalize.
6. There were 69,202 immigrant visas issued to Pakistanis from 2001 to 2010, the fifth highest among Asian nations.
7. 28% of Pakistanis have limited English proficiency.
8. Average per capita income of Pakistani-Americans is $24,663.00
9. 15% of Pakistanis are classified as poor; only 1% of them are on public assistance.
10. 8% of Pakistanis are unemployed, a figure lower than the general population of Americans.
11. 55% of Pakistanis own their own homes.
12. 55% of Pakistanis have a bachelor's degree or higher.
13. Median age of Pakistanis in America is only 29 years, lower than most of the Asian groups and the national median age of 36.8 years.
Pakistani-American community is the second fastest growing community in the United States, according to 2010 US Census . It is also a very young community with the median age of just 29 years, compared to 32 years for Indian-Americans and 37 years for all Asian-Americans. 34% of Pakistani-Americans are under the age of 17 compared with 26% of Indian-Americans and 24% of all Asian-Americans.
More of the Pakistanis in America are college educated than the general population of whites and various immigrant groups. The youthful energy and higher education levels of Pakistani-Americans are opening doors for them to rise and shine in America, in spite of the current economic difficulties in their adopted land of opportunities.
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