Summit Group’s founding chairman Muhammed Aziz Khan has featured in the Forbes’ list of billionaires, The Richest in 2024.
US-based Forbes magazine unveils the list on Wednesday.
According to the Forbes magazine, the wealth of Aziz Khan on Thursday morning was US $1.1 billion. He has been placed at 2582nd position in the list of billionaires.
According to the 2024 list, the total number of billionaires in the world is 2781.
Bangladesh-born Aziz Khan, who lives in Singapore, also featured in the “Singapore’s 50 richest” list by Forbes in 2023. He was the 41st richest person in the Southeast Asian country.
According to the Forbes magazine, Summit has investment in power, ports, fibre optics and real estate, all in Bangladesh.
In 2019, Aziz Khan sold a 22 per cent stake in Summit Power International to Japan’s JERA, a power generation company, for $330 million, which valued the company at $1.5 billion, the magazine said.
The wealth of Aziz Khan has been rising continuously since 2019 which crossed the $1 billion mark in 2022.
Summit began its journey as a trading company and made a foray into the power sector later. The first power plant of Summit began operation in 1998.