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Farouk Shami Net Worth: Farouk Shami is a Palestinian-American businessman who has a net worth of $700 million. He is best known as the Farouk Systems, a hair-care and spa products company. A dropout from the University of Arkansas where he studied cosmetology, Shami didn’t need a degree to spend decades working in the field of hair-care product development. Actually, he was the one to invent the first ammonia- free hair color. Today, his Houston-based Farouk Systems, has 2,000 employees and exports its line of hair and skin care products under the following brands: BioSilk, SunGlitz and Cationic Hydration Interlink (CHI). They are transported to more than 106 countries in the world. Aside from setting up a successful cosmetics business, Shami entered politics in 2009 when he ran in the 2010 Texas gubernatorial election. Unfortunately, he lost in the Democratic primary.