The net worth of Farouk Shami amounts to $700 Million
Farouk Shami’s Background
Farouk Shami, an entrepreneur, was born on December 15, 1942, in Beit Ur al-Tahta, Ramallah, West Bank, Palestine. He is renowned as the founder and owner of Farouk Systems, a hair and skin care production company based in Texas, USA. His involvement in the beauty industry dates back to the early 1970s.
Estimates place Farouk Shami’s net worth at $700 million as of early 2017, with the beauty industry being the primary source of his fortune.
Profession and Achievements
After moving to the USA in 1965, he pursued higher education at the University of Arkansas and trained at a cosmetology school in Arkansas.
Despite encountering obstacles, Farouk Shami’s passion for his work led him to develop ammonia-free hair coloring after developing an allergy to ammonia substances. Through his company, Farouk Systems, he has created popular brands and employed over 600 people in the US. The company’s products are distributed to over 106 countries worldwide, serving as the primary source of Farouk Shami’s wealth.
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In 2009, Shami vied for the governor of Texas position as a member of the Democratic Party, but faced controversies related to religious issues and the 9/11 attacks, ultimately losing the election.
Additionally, Shami served on the board of the American Task Force on Palestine and has been associated with the current US President Donald Trump. However, their relationship changed after Trump’s anti-Hispanic comments, but it’s believed that he uses products from Farouk System’s.
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Farouk Shami has been married to Izziah Shami since 1961, and their son Basim Shami is also involved in the beauty industry, currently serving as the President and CEO of the Beauty Elite Group.
