Today the Pakistani Prime Minister, Nawaz Sharif, stepped down for the third time. The Pakistani Supreme Court decided that Sharif was no longer qualified to head the country after his involvement in a Panama Papers scandal was exposed.
But with his position came plenty of opportunities for making money legally, and plenty more opportunities for illicit activity.
So how much is Nawaz Sharif net worth?
Nawaz Sharif is part of a wealthy industrialist family. The family own Ittefaq Group, a steel business, and Sharif Group, a giant conglomerate.
Ittefaq Group was founded in the 1930s, and produced many types of steel for construction and other industries. Sharif Group, meanwhile, owns nearly a dozen other companies in industries including sugar, poultry, dairy, and transportation.
It has been revealed that Nawaz Sharif and Pakistani politicians and industrialists have a total of around $200 billion in Swiss banks.
The Panama Papers also revealed some interesting things about Nawaz Sharif and his family’s wealth. The family has multiple Virgin Islands based companies, which have been used to acquire foreign assets and potentially launder money.
Nawaz Sharif and his family are very wealthy on paper, but they likely have much more than that. Based on his and his family’s publicly declared assets, we estimate Nawaz Sharif net worth at around $1.5 billion. However, including money that has been moved offshore and stashed in various locations, we believe that Nawaz Sharif net worth may be well above $2 billion.