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What Is Farouk Shami Net Worth’ Net Worth
Farouk Shami, a Palestinian-American businessman, has an estimated net worth of $700 million. His wealth is primarily attributed to the success of Farouk Systems, a hair-care and spa products company he founded. The company’s brands, including BioSilk, CHI (Cationic Hydration Interlink), and SunGlitz, are exported to over 106 countries globally.
Early Life and Career Beginnings
Farouk Shami was born on December 15, 1942, in Beit Ur al-Tahta, a village near Ramallah in the West Bank, Palestine. He grew up in a family of olive farmers; his father was a Sheikh and chief of the olive farmers. Shami immigrated to the United States on April 1, 1965, with only $71 in his pocket, intending to become a teacher. He initially enrolled in a teacher training school in Pikesville, Maryland. However, a visit to a hair salon sparked his interest in cosmetology. He obtained his cosmetology license in 1966 and began working in a salon, marking the beginning of his career in the beauty industry.
The Rise of Farouk Systems
Shami’s career took a pivotal turn when he developed an allergy to ammonia, a common chemical in hair coloring products. This led him to create the world’s first ammonia-free hair color, a product he named Sunglitz. In 1978, he moved from Lafayette, Louisiana, to Houston, Texas, due to his health issues. In 1981, Farouk partnered with a salon in Texas called Le Salon, where he worked as an owner, stylist, and colorist. In 1986, Farouk Shami founded Farouk Systems, Inc. The company manufactures Chi and Biosilk shampoos and has secured an estimated revenue of more than $1 billion. The company started with just $1,000. With the establishment of Farouk Systems, he aimed to provide hairdressers with safer and more advanced products. The company’s mission statement focuses on “Environment, Education, & Innovation.” Farouk Systems has about 600 employees in the US.
Farouk Systems’ Revenue and Market Presence
Farouk Systems has a significant presence in the professional hair care market. While some sources cite the company’s annual revenue as high as $1 billion, more recent data indicates a revenue of $360 million as of 2023. In January 2025, reports suggested the company’s annual revenue reached $750 million. The company employs over 600 people in the United States and exports its products to over 106 countries. Farouk Systems brands like BioSilk and CHI are used by celebrities. According to some reports, Farouk System generates $1.5B in revenue.
Political Endeavors
In 2009, Farouk Shami entered the political arena, announcing his candidacy for the 2010 Texas gubernatorial election as a Democrat. His campaign touched on various issues, including the economy and job creation. However, he lost in the Democratic primary to former Mayor Bill White by a significant margin.
Philanthropy and Humanitarian Efforts
Farouk Shami has been involved in several philanthropic endeavors. In 1999, he opened a science high school for girls in his hometown of Beit Ur. In 2009, he sponsored an infrastructure project in Beit Ur in partnership with the United States Agency for International Development (USAID). In 2020, Farouk Systems donated over $1 million worth of hand sanitizer and hair care products to communities affected by disasters and to frontline workers during the COVID-19 pandemic. He also delivered $4 million worth of hair care products to support relief efforts in Louisiana and Texas after Hurricane Laura.
Recognition and Accolades
Shami’s contributions to the beauty industry have been recognized with several awards and honors. He holds 23 international patents and 14 American patents. In 2013, he was named an Entrepreneur of the Year. SeoKyeong University in Korea presented him with the first Doctor of Beauty Arts for his contributions to the beauty industry.
Personal Life
Farouk Shami has been married to Izziah Shami since 1961. They have one child, Basim Shami, who is the President and CEO of Beauty Elite Group, also involved in the beauty industry. Shami arrived in the United States with a total of $71. He has made many contributions to the beauty industry. He is also a Special Representative and Adviser for International Affairs for the NDUF (National Defense University Foundation). He is a frequent speaker on leadership at Harvard University.
