Born on December 25, 1949 in Lahore, Nawaz Sharif is the eldest son to Mr and Mrs Muhammad Sharif. His father was a wealthy industrialist and had founded the Ittefaq and Sharif Group.
The Sharif family is a patriarchal and conservative family. They came to industry in the 1930s, at a time when hardly a few Muslim families had a name in the industry They became futuristic because they came into the steel business. There was one other group, Batala Engineering Company (BECO), and then them [the Sharifs]. Their story is pretty much one of rags to riches… six or seven brothers who came from Jati Umra to Lahore rose because of sheer hard work.
By the time 1947 happened, they became prominent. As far as old Lahore is concerned, even in 1947, they were a recognised rich family who were considered industrialists. ater, Nawaz joined his family’s influential Ittefaq Group, an industrial conglomerate with interests in sugar, steel, and textiles.
Mian Muhammad Nawaz Sharifand his male cousins expanded his father's iron foundry only to lose it to a 1972 nationalization policy launched by the former Prime Minister, Zulfikar Ali Bhutto. It was re-established in 1977 as Ittefaq Industries in Lahore. The business was returned after Sharif developed political links with then-president, Mohammad Zia ul-Haq. It was General Zia who brought down Bhutto in 1975, executing him two years later on charges of conspiracy. By 1990, Ittefaq Industries was one of Pakistan's most affluent conglomerates, with more than $450 million in annual revenues, up from about $16 million in 1981. It included the country's largest private steel mill, a sugar mill, and four textile factories. With upwards of ten thousand employees, Ittefaq has played a significant role in the development and growth of industry in Pakistan. It has likely influenced Sharif's political career and pro-business stance as well. Where as now the total Net Worth on Mian Muhammad Nawaz Sharif is $1.7 Billion.