Nawaz Sharif Net Worth: From Steel Magnate to Political Powerhouse

Nawaz Sharif, one of Pakistan’s most influential and controversial political figures, boasts an estimated net worth of $1.8 billion. His wealth is intricately linked to his family’s sprawling industrial empire, political career, and international investments—factors that have consistently placed him at the center of both admiration and scandal.

Nawaz Sharif Net Worth: $1.8 Billion

Date of Birth: December 25, 1949

Place of Birth: Lahore

Nationality: Pakistani

Table of Contents

Early Life

Born on December 25, 1949, in Lahore, Nawaz Sharif grew up in a family of Punjabi Kashmiris. His father, Muhammad Sharif, was a prominent businessman, and his family background laid the groundwork for his future political and economic ambitions. Sharif studied arts and business at Government College University, before earning a law degree from the University of the Punjab.

Nawaz Sharif Source of Wealth

Nawaz Sharif’s fortune is deeply rooted in the Ittefaq Group, a steel conglomerate founded by his father in the 1930s. Once nationalized by Zulfikar Ali Bhutto’s government in the 1970s, the family’s steel business was reclaimed and later expanded under Nawaz’s influence, especially during his time in politics. The group evolved into one of Pakistan’s largest industrial enterprises, laying the foundation for Sharif’s immense personal wealth.

Apart from the steel sector, Sharif also controls the Sharif Group, which has vast interests in agriculture and sugar manufacturing. His business dealings have expanded across the Middle East and into various sectors, fueling a fortune that includes luxury properties abroad, extensive landholdings within Pakistan, and stakes in offshore companies.

Despite—or perhaps because of—his business success, Sharif has long faced criticism over a lack of financial transparency. His wealth has been the subject of numerous corruption investigations and court cases, most notably following the revelations of the Panama Papers.

Rise to Political Power

Sharif’s entry into politics was driven by a desire to defend his family’s interests after their business empire was nationalized. In the late 1970s, he joined politics and aligned himself with General Zia-ul-Haq, who appointed him Punjab’s finance minister in 1981. His policies favored privatization and deregulation, helping revive the family business and strengthening his influence in Punjab.

By 1985, Sharif was Chief Minister of Punjab, and under military backing, he strengthened his grip on the province. Known for urban development initiatives in Lahore and a strong pro-business stance, his rise was meteoric.

Prime Ministerial Tenures

Sharif served three non-consecutive terms as Pakistan’s Prime Minister:

1990–1993: Elected under the Islami Jamhuri Ittihad alliance, Sharif’s first term focused on privatization, Islamization, and infrastructure. A constitutional clash with President Ghulam Ishaq Khan ended this term prematurely.
1997–1999: Following Benazir Bhutto’s dismissal, Sharif regained power in a landslide. He tested Pakistan’s first nuclear bomb in 1998, asserting military might but also provoking sanctions. His growing authoritarianism and friction with the military led to a military coup in 1999, after which he was jailed and then exiled.
2013–2017: Making a political comeback, Sharif won again but was disqualified from office in 2017 due to revelations from the Panama Papers, which linked him to undisclosed offshore assets.

Exile

Sharif’s wealth came under intense scrutiny after the 2016 Panama Papers leak, which revealed that his children owned offshore companies used to buy luxury London properties. The Supreme Court of Pakistan disqualified him from office in 2018, and he was sentenced to ten years in prison. Citing health reasons, he moved to London in 2019 for treatment and remained there until 2023.

Upon his return, he received protective bail and was acquitted in several cases. He soon resumed leadership of the Pakistan Muslim League-Nawaz (PML-N) and launched a campaign for a political comeback in 2024, although his party failed to secure a majority in Parliament.

Personal Life

Nawaz Sharif married Kulsoom Nawaz in 1971. Together, they had four children—Hussain, Hassan, Maryam, and Asma. His daughter Maryam Nawaz has risen in the political ranks and became Chief Minister of Punjab in 2024. Kulsoom Nawaz passed away in 2018, after battling cancer.