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Who is the Richest Person in Bangladesh Today?

• Richest Person: Muhammed Aziz Khan

• Age: 69

• Net Worth: $1.1 Billion

• Rank: 2544

• Source of Wealth: Power

• Residence: Singapore, Singapore

• Marital Status: Married

• Children: 3

• Education: Master of Business Administration, University of Dhaka

The founder and chairman of Summit Power International Limited and Summit Holdings Ltd. is Muhammad Aziz Khan. The largest infrastructure company in Bangladesh, Summit Group, has more than 6,000 workers. The Group is involved in information technology, ports, logistics, and the energy industry.

Muhammed Aziz Khan
Muhammed Aziz Khan

Muhammed Aziz Khan: Early Life and Education

Born in 1955, Muhammad Aziz Khan is a well-known industrialist from Bangladesh who founded and serves as chairman of the Summit Group. Being raised as the son of an army officer had a significant impact on his early life. He entered the business world at the age of eighteen, entering into an import trade partnership with a friend. His academic path brought him to the University of Dhaka's Institute of Business Administration (IBA), from which he graduated with an MBA in 1980. He traded chemicals while he was in Old Dhaka, growing his company with the help of well-known businessmen. This early stage of his career created his reputation for financial mobilization and set the groundwork for his future success.

Muhammed Aziz Khan: Career

The career of Muhammad Aziz Khan is distinguished by a number of noteworthy accomplishments. He was crucial in the transformation of the Summit Group into a multifaceted conglomerate with investments in power, energy trading, ports, telecommunications, hospitality, and real estate, from Bangladesh's first private sector power producer. Among his noteworthy professional achievements are:

Establishing Khulna Power Company Limited, Bangladesh's first autonomous power plant, in 1998.

Establishing Summit Alliance Port Limited, the first private off-dock facility in the nation.

Utilizing Summit Communications Ltd. to construct a national transmission network for telecommunications.

Constructing hotels, a convention center, and retail establishments via IPCO Ltd. close to Dhaka's international airport.

Joining forces with GE in 2011 to build plants capable of producing 327 megawatts of electricity.

Establishing a joint venture for a range of power projects in 2012 with China Energy Group.

Assuming office as the Bangladesh Association of Publicly Listed Companies' president in 2015.

Achieving an agreement to construct the first high-tech business park in Bangladesh.

Muhammad Aziz Khan is a leader in a number of the Summit Group companies. In addition to being a trustee of the Prothom Alo Trust, he is the chairman of the Siraj Khaleda Trust and Summit Alliance Port Limited (SAPL). He is also the founding president of the Bangladesh Energy Companies Association and the president of the Bangladesh Association of Publicly Listed Companies (BAPLC). His role as the Honorary Consul General of Finland in Bangladesh further demonstrates his contribution to international relations and diplomacy.

Currently, Summit's subsidiaries include the nation's first private power generator, a port operator and owner, and a fiber optic connectivity provider for information communication.

The largest independent power producer in the nation, Summit Power International (SPI) was founded in 1997 and is traded on the Singapore exchange. Khan serves as the company's chairman.

With a combined capacity of 2,255 megawatts, it owns and operates a total of 18 power plants that are either operational or under development.

According to the SPI website, another 277MW is added through its associate Khulna Power Company Limited.

The power plants make up 8% of the nation's total installed capacity and 19% of the installed capacity of the privately operated electricity units.

Muhammed Aziz Khan: Personal Life

Ayesha, Adeeba, and Azeeza are his three daughters; he is wed to Anjuman Aziz Khan. With 26 years of business experience in Summit, Mrs. Anjuman Aziz Khan is the spouse of Mr. Muhammad Aziz Khan. Mrs. Khan is a part of the Siraj Khaleda Trust, a social branch of Summit Group that is establishing 200 beds in Dhaka Cantonment for charitable medical services. She actively participates in and supports charitable endeavors like "women's entrepreneurship development" and "Assistance of Blind Children."

Muhammed Aziz Khan: Net Worth

Forbes magazine claims that Summit has investments in real estate, fiber optics, ports, and electricity in Bangladesh.

Khan's net worth was $910 million in 2018, the year he was first included in Forbes Singapore's list of billionaires. As of this writing, Forbes reports that his current real-time net worth is $1.1 billion, ranking him 2579th in the world.

According to the Forbes listing, Khan sold JERA of Japan a 22% stake in Summit Power International in 2019 for $330 million, valuing the business at $1.5 billion.

Summit Group is one of Bangladesh's leading private sector conglomerates with holdings in liquefied natural gas, real estate, fiber optics, ports, and power.

Top 10 Richest Persons in Bangladesh Today

  1. Muhammed Aziz Khan: 1.1 billion

  2. Musa Ibn Samser: 950 million dollars.

  3. Salman F Rahman: 600 million dollars.

  4. Ahmed Akbar Sobhan: 600 million dollers

  5. MA Hashim: 500 million dollars.

  6. Azam J Chowdhury: 410 million dollars.

  7. Ragib Ali: 300 million dollars.

  8. Shamsuddin Khan: 300 million dollars.

  9. Iqbal Ahmed: 250-290 million dollars.

  10. Saiful Islam Kamal: $ 29 million.

Quick Facts on the Wealth of Bangladeshi People

• The total wealth held by Bangladeshi citizens in 2000 was $78 billion. The sum increased to $237 billion in 2015.

• Over the past 35 years, Bangladesh has seen a 492-fold increase in the number of millionaires since 1975.

• In 1975, Bangladesh had 47 millionaires; today, the country boasts over 25,000 millionaires.

• As of December 31, 2009, 23,130 millionaires had deposited 1,00,544 crore BDT with the banking industry, according to Bangladesh Bank.

• The wealthiest people in Bangladesh possess assets valued at over $15 billion, making up more than 6% of the country's total wealth.

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