Khosrowshahi had an estimated net worth of $1.16 billion in 2016.[1]
Early life
Hassan Khosrowshahi was born into a wealthy family in Tehran in 1940. His father, Ali Khosrowshahi, founded the Minoo Industrial Group, a conglomerate specializing in pharmaceuticals, cosmetics, and food distribution under both its own brands and under license for major international brands.[2]
In 1982, in Vancouver, Khosrowshahi founded Inwest and its subsidiary, Future Shop. By 1996, the company was the largest computer and electronics retailer in Canada.[2] It tried to expand into the United States but was unsuccessful and suffered significant losses.[3] In 2001, the company was acquired by Best Buy for C$580 million.[2] In 2015, Best Buy shut down Future Shop.[4]
After the sale of Future Shop, Khosrowshahi focused on real estate development, pharmaceuticals, investments, and philanthropy through his family office, Persis Holdings Ltd.[2]
Khosrowshahi has served as a director of the Bank of Canada, Canada Post, been an executive committee member of the Business Council of B.C., and has served as chairman and is a director of the Fraser Institute.[2]
Personal life
Khosrowshahi is married to Nezhat Khosrowshahi, also from a wealthy Iranian family,[2] and they have two children.[4]
His son, Behzad, runs DRI Capital, a pharmaceutical royalty firm, and his daughter, Golnar, founded Reservoir Media, a music licensing business.[4][1] He lives in a mansion in Vancouver's West Point Grey neighbourhood that had an assessed value of $45.7 million in 2017.[5]
His nephew, Dara Khosrowshahi, is the chief executive officer of Uber.[6] His brother, Nasrollah Khosrowshahi, is one of the handful of Iranians who have won judgements in the Hague tribunal for damages incurred by the Islamic Revolution.[7]
Accolades
In 2012, he was inducted into the Order of British Columbia for his entrepreneurial and philanthropist efforts.[8]
In June 2016, he was inducted into the Order of Canada with the grade of "Member", one of Canada's highest civilian honours.[9]