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| photo:file photo;Bangladesh flag |
Bangladesh has a population that exceeds to 160 million. When we think of Bangladesh, we think poverty, however in the last few years Bangladesh has made significant progress over the last few years in the economic sector. Bangladesh has been elevated from the low-income country (LIC) to the lower middle-income country.
However, the poor aren’t going anywhere.
There are many issues in Bangladesh such as political instability, malnutrition and the growing population that is threatening to undermine Bangladesh’s earned progress.
Still, we all tend to ask who the richest folks are in this country, what they do and how they gained wealth.
Quick Facts on the Wealth of Bangladeshi People
- In 2000, the wealth of people in Bangladesh possessed amounted to $78 billion. In 2015, the amount grew to $237 billion.
- Since 1975, the number of millionaires in Bangladesh has increased 492 times over the last three and a half decades.
- Bangladesh had 47 millionaires in 1975, but now Bangladesh has over 25,000 millionaires.
- According to Bangladesh Bank, as of 31st December 2009, 23,130 millionaires deposited 1,00,544 crore BDT with the banking sector.
- The amount of wealth owned by the richest in Bangladesh is worth over $15 billion, which accounts for over 6% of Bangladesh people’s overall wealth.
1. Moosa Bin Shamsher
Popularly known as “Prince Musa”, Mr Moosa is considered the richest person in Bangladesh. From time to time, he makes national headlines for his extravagant lifestyle.
Early Life
Moosa Bin Shamsher was born on 15th October 1945 in Faridpur, Bangladesh. He was a son of Shamsher Ali Molla. Mr Molla was a first-class officer in the British Indian Government. As a young student, Mossa showed exceptional brilliance. He passed his college life at Faridpur Rajendra College and went to California State University to study Economics.
Business Career
He founded DATCO; a manpower exporting company. DATCO remains an important company in exporting manpower. Besides exporting manpower, Moosa started investing in weapon and arm business. The venture quickly piled up his wealth. His net worth is over $12 billion.
Moosa founded DATCO, a manpower recruitment firm.[4] Moosa claims to be an international arms dealer who made billions of dollars trading arms in the 1970s and 1980s. He claims that he accumulated $10 billion from trading in tanks, fighters jets, ICBMs, and power brokerages. He also claimed that he has around $7 billion in Swiss bank accounts that have been frozen due to irregular transactions.[5] Moosa stated in 2019 that he wanted to bring over €20 billion to Bangladesh, including money that he earned doing business with Adnan Khashoggi.[6] Moosa claims to have made a large amount of his fortune from the Iran–Iraq War.[3] However, a government probe against him found that all his claims were baseless as Moosa couldn't provide any proof about his business dealings when questioned by the Bangladeshi ACC. An investigation also found that he had no Swiss bank account and barely had any assets in his name..
2. Salman F Rahman
Salman Fazlur Rahman is a Bangladeshi businessman who is also a member of the Jatiya Sangsad. Currently, he is holding the rank of a cabinet minister and serving as the Private Sector Industry and Investment Adviser to Honorable Prime Minister Sheikh Hasina.
A controversial figure and at times much disliked for his alleged involvement in Share Market looting, Salman F Rahman remains one of the richest persons in Bangladesh.
Early Career
Mr Salman and his brother, in 1966, picked up their family’s jute mill and started producing jute-based products. After the liberation war in 1971, the Bangladesh Government nationalized the mill.
BEXIMCO
In 1972, Salman and his brother founded the renowned company, known as Bangladesh Export Import Company (BEXIMCO). Under the company, they started exporting a multitude of products to Europe, with seafood and crushed bones being the main products. In 1976, Rahman brothers founded Beximco Pharma.
With a net worth of $1.3 billion, Salman F Rahman is the world’s 1,685th richest person.
3. Sayed Abul Hossain
Syed Abul Hossain is a Bangladeshi politician and businessman. He is a member of the Bangladesh Awami League and served as a member of the Parliament of Bangladesh since 1991. He was the Communication Minister of Bangladesh and State Minister of Local Government, Rural Development and Co-operatives from 2009 to 2012
A business mogul, yet so controversial; with a net worth of almost $1 billion, Abul Hossain is the 5th richest Bangladeshi.
Early Life
Sayed Abul Hossain was born on 1st October 1951. He earned his Bachelor’s and Master’s from Dhaka University. He is a member of the current ruling party, Bangladesh Awami League. He’s been serving as a member of the parliament since 1972.
Padma Bridge Scandal
In 2012, World Bank reported that Abul Hossain was one of the corruption conspirators in Padma Bridgetender. He also faces numerous allegations of being involved in corruption cases.
4. Ahmad Akbar Sobhan
He is the chairman and founder of one of the most valuable companies in Bangladesh and an important figure in the country’s business activities. With a net worth exceeding $500 million, Mr Sobhan is the ONE OF THE richest Bangladeshi.Ahmed Akbar Sobhan, is a Bangladeshi business magnate. He is the chairman of the business conglomerate Bashundhara Group.
Early Life and Career
Ahmad Akbar Sobhan was born on 15th February 1952. In 1978, Mr Sobhan started enterprise businesses and commercial trading. Under the parent company, East West Property Development (Pvt) Ltd., the group of businesses started their journey.
Bashundhara Group
He currently chairs the group of enterprises dealing with paper, steel and engineering, tissue, LP Gas, sanitary napkin, cement, multi-paper, food and beverage, galvanized iron pipe, etc. The group of industries is known as Bashundhara Group.
6. Giasuddin Al Mamun
If there was a competition for the people who used up political favour the most, then Giasuddin Mamun would have been a champion.
Giasuddin Al Mamun is a Bangladeshi businessman. He is a friend and business partner of the politician Tarique Rahman. Mamun has been in jail since 2007 due to his convictions on numerous corruption cases. He has been sentenced to 20 years imprisonment on 3 cases, 2 of which are for corruption.
Corruption Charges
He is often criticized for using his political influence to fuel his business ambitions. It is alleged that he was given loans at little to no interest rate and he paid nothing against the loans. He acquired wealth that is subject to investigations. The Anti-Corruption Commission in Bangladesh filed charges against him.
His net worth is $400 million.
7. Mohiuddin Khan Alamgir
He became the laughing stock of Bangladesh after he theorised that activists of the opposition party were involved in tearing down Rana Plaza. His net worth is no laughing matter though. He acquired wealth that is worth $400 million.
Early Life
Mr Alamgir was born in 1942. He earned his PhD in economics from Boston University. He was the former state minister of home affairs. He attained various administrative positions during the tenure of Awami League Government.
8. Ragib Ali
Very popular for his philanthropic activities, Ragib Ali is also one of the richest Bangladeshis.
Early Life
He was born on 10 October 1938. He pursued his higher education in the United Kingdom. He is the epitome of a person starting from scratch and making it big. He started as an ordinary waiter, but through dint of hard work and honesty, he became a leading entrepreneur.
Career
Mr Ali leads Sylhet Tea Company Ltd. and owns several other tea estates in Chittagong and Sylhet. He’s the founder of numerous educational institutions. His net worth is $250 million.
9. Iqbal Ahmed
With a net worth of $250 million, Iqbal Ahmed is the 10th richest Bangladeshi. He is a Bangladeshi-born British entrepreneur.
Early Life
He was born on 4th August 1956. He studied at the City College in Westminster. His source of fortune is the importation of shrimp. He leads two companies, named Seamark and Ibco. The companies deal with the hotel and real estate development, shipping, food, and hospitality.
Bottom Line – of the world’s billionaires, few still hail from poverty-ridden countries. Bangladesh is the stark example. The richest in Bangladesh also prove you don’t have to born into wealth to gain wealth. By dint of assiduity, industry and entrepreneurial skill, you can surely gain success.
Staff Correspondent
