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Monday April 29, 2024

Who are the Dawoods?

Shahzada Dawood belonged to Pakistan's top 22 wealthy families

By Hanif Khalid
June 23, 2023
British-Pakistani businessman Shahzada Dawood. — AFP/File
British-Pakistani businessman Shahzada Dawood. — AFP/File

British-Pakistani business tycoon Shahzada Dawood who, along with his 19-year-old son Suleman Dawood, died in the Titan submersible during an excursion to see the Titanic wreckage in the seas of Canada's Newfoundland, was the scion of one of the top 22 richest families in Pakistan.

The 49-year-old businessman, who was the vice chairman of major Pakistani conglomerate Engro Corporation, and his son were among the five crew members aboard the ill-fated vessel. Owned by OceanGate Expeditions, the sub imploded underwater in the North Atlantic Ocean, as confirmed by the United States Coast Guard a day earlier.

Shahzada was the son of Hussain Dawood, a prominent personality in the country's business sector who is also known for his services in various fields including education and philanthropy.

Shahzada pursued an MSc in Textile Marketing from the Philadelphia University and studied Bachelor of Law from the University of Buckingham in the United Kingdom. He joined the board of Engro Corporation in 2003 and was serving as its vice chairman. With over 20 years of experience in corporate governance and industrialisation, he has been instrumental in the growth and innovation of diverse public listed companies in the textile, fertiliser, food and energy sectors. He has been instrumental in driving mergers and acquisitions to create growth opportunities.

The businessman has been a pioneer in advocating for the institutionalisation of important international networks and connections. Under his guidance, Engro became the first Pakistani company to sign an agreement under the auspices of the World Economic Forum's (WEF) International Business Council, focusing on the implementation of the Stakeholder Capitalism Metrics. He also led Engro's delegation to the forum's Global Plastic Action Partnership (GPAP), which promoted the circular economy.

In addition to his role at Engro, he has served as a trustee on the Dawood Foundation's board. He was also a member of the Global Advisory Board of Prince Trust International, an organisation founded by King Charles III.

Meanwhile, his father is the chairman of the Dawood Foundation, which is focused on the promotion of education, also took the lead in the work of the trust. He also heads the Engro Corporation and Dawood Hercules Group as its chair.

The deceased businessman's father has been actively involved in driving the Dawood Hercules Group's investments since 2002, particularly in the fields of science and technology, engineering, arts and mathematics, with the aim to significantly contribute to the sectors that drive the economy and society.

Meanwhile, Shahzada's grandfather, Ahmad Dawood, was a source of goodwill and fame for their family for decades after Pakistan came into being. The Dawood group has, meanwhile, sold majority stake in Engro Corporation to foreign investors.

Hussain's commitment to human development is reflected in his role as founder and chairman of the Karachi School of Business and Leadership's (KSBL) board of governors. He has been involved with various institutions including the Karachi Education Initiative (KEI) and Islamabad Policy Research Institute (IPRI) since 1992. He leads the group's engagement with the World Economic Forum (WEF) in Geneva each year and actively participates in global economic and social debates.

The TDF chairman has played an important role in the development of the local health sector. He has served on the Board of Shuakat Khanum Memorial Hospital and has been a trustee at the internationally-renowned Al-Shifa Trust Eye Hospital in Rawalpindi. He played a crucial role in the construction of the hospital alongside Sindh's former governor general Jahandad Khan.

All members of the Dawood family — including Hussain who is recognised by the world for his national services — have actively participated in the midst of the challenges arising from COVID-19 around the world.

As an honorary lawyer of Italy, the Italian government awarded Hussain with the Ordine al Merito della Repubblica Italiana. He holds a Masters in Business Administration (MBA) from the Northwestern University's Kellogg School of Management, in the US as well as a graduate degree in meteorological studies from Sheffield University in the UK.