Summit Group Chairman Muhammed Aziz Khan Ranked as the 34th Richest Individual in Singapore

Bangladeshi entrepreneur Muhammed Aziz Khan, the Chairman of Summit Group, has been ranked as the 34th richest individual in Singapore, with a net worth of approximately $910 million as of July 25, 2024. At 63, Khan has earned his place among Singapore’s elite thanks to his pioneering work in Bangladesh’s power sector, where he boasts more than 36 years of experience.

Summit Group, under Khan’s leadership, has diversified its interests across multiple industries, including power generation, ports, fiber optics, real estate, and liquefied natural gas (LNG). The group’s power unit, Summit Power International (SPI), is poised for further growth, with plans underway to list it on the Singapore Exchange, highlighting Khan’s strategic vision for international expansion.

Khan, now a permanent resident of Singapore, began his entrepreneurial journey in 1973, at a time when Bangladesh’s business environment was still in its nascent stage. Successful entrepreneurship in the country was rare, and there were few role models for aspiring business leaders to follow. Yet, over the span of more than four decades, Khan has built Summit Group into a powerhouse, establishing himself as one of Bangladesh’s most successful and influential businessmen.

Summit Group’s story began with modest beginnings in a challenging business climate. Khan’s early ventures were marked by persistence and resilience, traits that have defined his career and led to Summit Group’s rise. What began as a small trading operation in Bangladesh grew into a conglomerate that now plays a vital role in the country’s power supply, which has contributed significantly to Bangladesh’s economic development.

Summit Group’s success has not been limited to the power sector alone. The company’s diversification strategy has led to significant investments in critical infrastructure, including ports and fiber optics, supporting Bangladesh’s growing economy. In addition, Summit’s ventures into real estate and LNG have further solidified its status as a multifaceted enterprise.

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