Hassan Khosrowshahi
Encyclopedia
Hassan Khosrowshahi is an Iranian-born Canadian
entrepreneur
. In Iran, Khosrowshahi earned degrees in economics and law from the University of Tehran
. 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
. In April 2007 he became chairman of The Fraser Institute
’s board of trustees.
After an ill-fated attempt to expand into the United States
, which lasted about a decade, all US locations closed in 1999. In November 2001, Khosrowshahi sold his company to US retailer Best Buy
.
Khosrowshahi had an estimated net worth
of $770 million CDN in 2008.
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
entrepreneur
Entrepreneur
An entrepreneur is an owner or manager of a business enterprise who makes money through risk and initiative.The term was originally a loanword from French and was first defined by the Irish-French economist Richard Cantillon. Entrepreneur in English is a term applied to a person who is willing to...
. In Iran, Khosrowshahi earned degrees in economics and law from the University of Tehran
University of Tehran
The University of Tehran , also known as Tehran University and UT, is Iran's oldest university. Located in Tehran, the university is among the most prestigious in the country, and is consistently selected as the first choice of many applicants in the annual nationwide entrance exam for top Iranian...
. He settled in Vancouver
Vancouver
Vancouver is a coastal seaport city on the mainland of British Columbia, Canada. It is the hub of Greater Vancouver, which, with over 2.3 million residents, is the third most populous metropolitan area in the country,...
in 1981. In 1982, Khosrowshahi founded Canadian electronics retailer, Future Shop
Future Shop
Future Shop is Canada's largest consumer electronics retailer. Future Shop currently operates a total of 146 stores across all of Canada's provinces as of December 2008....
. 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
Provinces and territories of Canada
The provinces and territories of Canada combine to make up the world's second-largest country by area. There are ten provinces and three territories...
. In April 2007 he became chairman of The Fraser Institute
Fraser Institute
The Fraser Institute is a Canadian think tank. It has been described as politically conservative and right-wing libertarian and espouses free market principles...
’s board of trustees.
After an ill-fated attempt to expand into the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, which lasted about a decade, all US locations closed in 1999. In November 2001, Khosrowshahi sold his company to US retailer Best Buy
Best Buy
Best Buy Co., Inc. is an American specialty retailer of consumer electronics in the United States, accounting for 19% of the market. It also operates in Mexico, Canada & China. The company's subsidiaries include Geek Squad, CinemaNow, Magnolia Audio Video, Pacific Sales, and, in Canada operates...
.
Khosrowshahi had an estimated net worth
Net worth
In business, net worth is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time...
of $770 million CDN in 2008.