Shad Khan’s climb on Forbes’ latest wealth list comes with a familiar backdrop: the Jacksonville Jaguars owner keeps getting richer.
Forbes estimated Khan’s net worth at $16.5 billion on its annual list of the 400 richest Americans, released Sept. 15. That puts him 70th in the country, up four spots from 74th a year ago, and tied for 13th among U.S. sports team owners with Peter Mallouk, who owns Sporting Kansas City and is a minority owner of the Kansas City Royals.
Khan’s fortune rose 23 percent from 2025, and the gains have piled up for several straight years. After dipping from $8 billion in 2021 to $7.6 billion in 2022, his net worth has increased every year since then and has more than doubled over the last four years. He has also reached as high as 64th, which came in 2024.
Among NFL owners, Khan ranks sixth behind Rob Walton of the Denver Broncos ($132 billion), David Tepper of the Carolina Panthers ($28.8 billion), Stan Kroenke of the Los Angeles Rams ($27.6 billion), Jerry Jones of the Dallas Cowboys ($23.5 billion) and Stephen Ross of the Miami Dolphins ($21.5 billion).
Khan declined to comment through a spokesman. He historically does not comment on his personal finances.
Born in Pakistan, Khan came to the United States at 16 to attend the University of Illinois. His path to billionaire status started with Flex-N-Gate, the auto parts company that made his name.
While working there as an engineering director, Khan developed a “one-piece” truck bumper and later bought out the company’s owner. Flex-N-Gate now has 76 plants around the world and more than 27,000 employees.
Khan’s story fits the classic rags-to-riches mold. He once worked as a dishwasher and lived at the YMCA for $2 per night while in college, but eventually earned an engineering degree and built a fortune that now places him among the country’s wealthiest people. He is also 13th among billionaires who immigrated to the U.S.
His sports holdings stretch beyond Jacksonville. Khan bought the Jaguars from Wayne Weaver in 2011 for $770 million.
CNBC valued the team at $9.3 billion last week, ranking it 22nd among NFL teams, with revenue of $655 million last year. He also owns Fulham, a British soccer club, and he and his son Tony co-own AEW Wrestling, which they purchased in 2019.
Forbes’ overall list again has Elon Musk at No. 1, with an estimated net worth of $908 billion. Jeff Bezos follows at $378 billion, then Larry Page at $278 billion, Michael Dell at $263 billion, Sergey Brin at $256 billion, Mark Zuckerberg at $212 billion and Larry Ellison at $204 billion.
Forbes also listed President Donald Trump at No. 245 among American billionaires, with a net worth of around $7 billion. His wealth was pegged at $2.3 billion in 2024, when he ran for a second term, and rose to $5.1 billion in 2025.
He is the fourth-wealthiest Floridian, with Ross ranked No. 1.
For its 400 list, Forbes said it speaks with members when possible, along with employees, advisers, rivals and attorneys, and reviews a wide range of documents including SEC filings, court records and news reports. The magazine says it values all types of assets, subtracts debt, excludes charitable-fund money and uses September 4, 2026 as the cutoff date for the 2026 list.
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