Loss of a Business Empire
The family of Shahzada Dawood, a Pakistani billionaire who tragically lost his life in the Titan submarine incident, will only receive a small fraction of his vast inheritance.
The majority of his fortune will remain lost, much like the ill-fated underwater vehicle and its occupants, forever submerged at the bottom of the ocean.
Shahzada Dawood, 48, was among the five passengers on board the OceanGate Expeditions submarine, accompanied by his 19-year-old son Suleman. He was married to Christine Dawood, a personal trainer and psychologist, and had two children with her.
With an estimated net worth of approximately 340 million euros, Shahzada was a member of one of Pakistan’s wealthiest families, being the heir to the renowned Dawood business dynasty.
In addition to his personal wealth, his family’s business boasted an annual turnover of around 1,550 million euros. However, following the fatal accident off the coast of Newfoundland, Canada, on June 18, 2023, his widow will only receive a mere 90,000 euros.
According to reports by the British newspaper Mail Online, Shahzada passed away without a valid will in the United Kingdom. As a result, his widow, a resident of Great Britain, will only be entitled to a little over 90,000 euros from his estate.
Shahzada held the position of vice-chairman at Dawood Hercules Corporation, a public investment holding company that invests in various sectors, including infrastructure, food, agriculture, and petrochemicals solutions.
The organization has been under the leadership of the Dawood family for decades, with Shahzada joining the company in 1996.
Furthermore, Shahzada was a shareholder director of Engro Corporation and a board member of King Charles III’s Prince’s Trust charity, as reported by The Sun.