Hassan Khosrowshahi

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Hassan Khosrowshahi
Born 1940 (age 73–74)
Tehran, Iran
Residence Vancouver, British Columbia
Ethnicity Persian
Citizenship Canadian
Alma mater University of Tehran
Occupation Entrepreneur, Philanthropist
Former Chairman & CEO of Future Shop
Years active 1982–present
Net worth Increase US$ 940 million
Spouse(s) Nezhat Khosrowshahi
Relatives Dara Khosrowshahi
Behzad Khosrowshahi (Son)
Darian Shirazi
Website
Persis Holdings

Hassan Khosrowshahi (Persian: حسن خسروشاهی‎) is an Iranian-Canadian business magnate, investor, and philanthropist. Born in Iran, Khosrowshahi earned degrees in economics and law from the University of Tehran. He and his family founded the Persis Group of Companies in 1981, focusing initially on retailing and real estate and then on pharmaceutical and entertainment industries. In 2012 he received the Order of British Columbia for his entrepreneurial and philanthropist career, being an immigrant from Iran to Canada, he personifies the ‘great Canadian dream.’[1]

Early life[edit]

Hassan Khosrowshahi was born into a prominent industrial and mercantile family in Iran in 1940. He was educated in Iran and England and obtained his degree in law and economics from the University of Tehran.

He joined his family company, the Minoo Industrial Group founded by his father Ali Khosrowshahi, in 1961. Minoo Industrial Group was a major manufacturer and distributor of food products, pharmaceutical and cosmetics with sales over US $350 million in 1978. Minoo Industrial Group produced products under its own brand names and under license for major international companies such as Beatrice Foods, Sandoz, United Biscuits, L'Oréal Group, Boots, and G. D. Searle & Company. In addition, the Khosrowshahi family, through various companies which they controlled, had been the exclusive distributors for Nestlé S.A. in Iran from 1954 until 1981.[2]

Career[edit]

The Khosrowshahi family immigrated to the Canada following the Iranian Revolution. He settled in Vancouver in 1981. In 1982, Khosrowshahi founded Canadian electronics retailer, Future Shop. The chain expanded throughout western Canada and Ontario in the late 1980s and early 1990s. The chain later expanded further into Quebec and Atlantic Canada.

By 2006, the chain was operating a total of 118 stores in all ten Canadian provinces. After an ill-fated attempt to expand into the United States, which lasted about a decade, all US locations closed in 1999. In March 2001, American-based Best Buy acquired Future Shop for C$580 million.

In April 2007 he became chairman of The Fraser Institute’s board of trustees. He founded Persis Holdings in 1981, today the holding company for the Khosrowshahi family. Formerly known as Inwest Investments has made substantial investments in retail, real estate and pharmaceutical businesses in Canada and United States. He is also a Member of the Executive Committee of the Business Council of British Columbia, and sits on the board of the Leading Edge Endowment Fund.

Wealth[edit]

Khosrowshahi had an estimated net worth of $940 million in 2012.[3]

Personal life[edit]

Khosrowshahi is married and he and his wife Nezhat Khosrowshahi have two children.[4]

References[edit]

External links[edit]